• Share
  • Email
  • Embed
  • Like
  • Save
  • Private Content
2009 04-01 Q2 2008/2009 Results
 

2009 04-01 Q2 2008/2009 Results

on

  • 211 views

 

Statistics

Views

Total Views
211
Views on SlideShare
211
Embed Views
0

Actions

Likes
0
Downloads
0
Comments
0

0 Embeds 0

No embeds

Accessibility

Categories

Upload Details

Uploaded via as Adobe PDF

Usage Rights

© All Rights Reserved

Report content

Flagged as inappropriate Flag as inappropriate
Flag as inappropriate

Select your reason for flagging this presentation as inappropriate.

Cancel
  • Full Name Full Name Comment goes here.
    Are you sure you want to
    Your message goes here
    Processing…
Post Comment
Edit your comment

    2009 04-01 Q2 2008/2009 Results 2009 04-01 Q2 2008/2009 Results Presentation Transcript

    • Welcome!PresentationSecond Quarter Report forthe periodQ2 Dec 2008 – Febr 2009Q1-Q2 Sept 2008 – Febr 2009
    • Second Quarter Report• Introduction• Q2 2008/09 • Highlights • Income Statement • Cash Flow, Sales • Profitability drivers• Q1-Q2 2008/09 • Highlights Christian W. Jansson, CEO • Income Statement • Cash Flow, Sales • Sales breakdown • Profitability drivers• Present market situation• Future approach• Key conclusions Håkan Westin, CFO
    • Highlights - Second Quarter Report December 2008 to February 2009 • Increased market shares in a weaker market • Net sales MSEK 1 168 (1 132) • Operating profit MSEK 65 (118) • Balanced stock level
    • Stores per February 2009 • 304 operating stores (+ 24) 140 51 • 50 new stores under contract • 13 new stores during Q1-Q2, 87 29 for the full year 26
    • Advertising spring 2009 – focusing trousers
    • Second Quarter Report December 2008 to February 2009 • Net sales MSEK 1 168 (1 132), an increase of 3.2 percent. • Operating profit MSEK 65 (118), a decrease of 45 percent. • Gross margin 58.0 (59.6) percent and operating margin 5.6 (10.4) percent. • Net profit MSEK 34 (74), equivalent SEK 0.45 (0.99) per share. • Cash flow from continuing operations MSEK 133 (183).
    • Income Statement - Q2 December 2008 to February 2009 MSEK 2008/09 2007/08 Net sales 1168 1132 Cost of goods sold -490 -4457 Gross profit 678 675 Selling expenses -574 -521 Administrative expenses -39 -36 Other operating income - - Operating profit 65 118 Financial income 3 3 Financial expense -21 -18 Profit before tax 47 103 Tax expense -13 -29 Net profit 34 74
    • Cash flow – Q2December 2008 to February 2009MSEK 2008/09 2007/08Cash flow from continuing operations 94 139before changes in working capitalChanges in working capital 39 44Cash flow from continuing operations 133 183Cash flow from investment activities -62 -46Cash flow after investments 71 137Change bank overdraft facility 258 615Dividend / Redemption of shares -338 -825Other from financial activities -80 -210Cash flow for the period -9 -73
    • Sales - Q2December 2008 to February 2009 MSEK %Net sales Q2 2007/08 1 168New stores net +5.1Like For Like -4.3Currency effect +2.4Net sales Q2 2008/09 1 132 +3.2
    • Profitability drivers - Q2 December 2008 to February 2009 2008/09 Sales 3.2% Gross profit 0.4% Costs 10.0% Operating income -44.9% Cost increase due to • new stores • existing operation - rent • currency effect
    • Advertising spring 2009 – focusing trousers
    • Financial Highlights – Q1-Q2 September 2008 to February 2009 • Net sales 2 434 (2 379) MSEK, an increase of 2.3 percent. • Operating profit 241 (324) MSEK, a decrease of 25.6 percent. • Gross margin 61.3 (61.9) percent and operating margin 9.9 (13.6) percent. • Net profit 147 (212) MSEK, equivalent SEK 1.96 (2.83) per share. • Cash flow from continuing operations MSEK 260 (379).
    • Income Statement – Q1-Q2 September 2008 to February 2009 MSEK 2008/09 2007/08 Net sales 2 434 2 379 Cost of goods sold -942 -907 Gross profit 1 492 1 472 Selling expenses -1 179 -1 079 Administrative expenses -72 -69 Other operating income - - Operating profit 241 324 Financial income 6 6 Financial expense -43 -36 Profit before tax 204 294 Tax expense -57 -82 Net profit 147 212
    • Cash flow– Q1-Q2September 2008 to February 28 2009 MSEK 2008/09 2007/08 Cash flow from continuing operations 288 366 before changes in working capital Changes in working capital -28 13 Cash flow from continuing operations 260 379 Cash flow from investment activities -166 -115 Cash flow after investments 94 264 Change bank overdraft facility 227 537 Dividend / Redemption of shares -338 -825 Other from financial activities -111 -288 Cash flow for the period -17 -24
    • Sales – Q1-Q2 September 2008 to February 2009 MSEK %Net sales 2007/08 2 434New stores net +4.8Like For Like -3.9Currency effect +1.4Net sales 2008/09 2 379 +2.3
    • Sales breakdown per country – Q1-Q2 September 2008 to February 2009 MSEK 2008/09 2007/08 Growth 1,315 SEK Local 679 currency Sweden 278 1 315 1 315 0,2% 0,2% Norway 107 666 679 -1.9% -1.9% Finland 318 278 14.4% 3.2% Polen 135 107 10.7% 16.1% Totalt 2 434 1 132 3,2% Finland Poland 13% (12%) 6% (5%) Sweden Norway 54% (55%) 27% (28%)
    • Profitability drivers – Q1-Q2 September 2008 to February 2009 2008/09 Sales 2.3% Gross profit 1.4% Costs 9.0% Operating income -25.6% Cost increase due to • new stores • existing operation - rent • currency effect
    • Comments on the present market situation The market will be weak going forward Our concept help us to increase market shares Our expansion with new stores is long term important to fulfill the strategy for profitable growth
    • Future approach Maintain gross margin Continuing strong store expansion program Ongoing daily cost containment
    • Key conclusions A decreasing demand in the market Our concept help us to increase market shares Strong gross margin
    • Disclaimer• These materials may not be copied, published, distributed or transmitted to third parties.• These materials may contain forward-looking statements. If so, such statements are based on our current expectations and are subject to risks and uncertainties that could negatively affect our business. Please read our earnings report and our most recent annual report for a better understanding of these risks and uncertainties.• These materials do not constitute or form part of any offer or invitation to sell or issue, or any solicitation of any offer to purchase or subscribe for, any securities, nor shall part, or all, of these materials or their distribution form the basis of, or be relied on in connection with, any contract or investment decision in relation to any securities. These materials and the information contained herein are not an offer of securities for sale in the United States and are not for publication or distribution to persons in the United States.
    • Questions?