2010 09-28 Q4 & Full Year 2009/2010 Results
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2010 09-28 Q4 & Full Year 2009/2010 Results

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2010 09-28 Q4 & Full Year 2009/2010 Results 2010 09-28 Q4 & Full Year 2009/2010 Results Presentation Transcript

  • Good growthFull year report: September 2009 – August 2010
  • Agenda • Q4 2009/2010Christian W. Jansson CEO • Financial year 2009/2010 • Market situation • Conclusions • QuestionsHåkan Westin, CFO 2
  • Highlights full year• Good sales increase from new stores• Profits – Strong for the Nordic region and improving – New markets in a build-up fase• Further improved financial position• Continued strong cash flow 3
  • Campaigns during period 4
  • Stores August 2010• 345 stores 153 56• 26 new stores this year• Significant contribution 95 from new stores in Oslo Helsinki sales and profit Stockholm• New market: Czech Republic• 55 new stores under contract Warsaw – 16 during Q1 40 – 25 during 2010/11 Prague 1 5
  • Financial highlights, Q4June - August 2010• Net sales MSEK 1 290 (1 226), +5,2%• Operating profit MSEK 156 (176), -11%• Gross margin 59,6 (61,4)%• Operating margin 12,1 (14,4)%• Net profit MSEK 125 (106), equivalent to SEK 1.67 (1.41) per share, of which deferred taxes 45 MSEK• Cash flow from continuing operations MSEK 222 (100) 6
  • Income statement, Q4June - August 2010 MSEK 2009/10 2008/09 Net Sales 1 290 1226 Cost of goods sold -521 -473 Gross profit 769 753 Selling expenses -583 -549 Administrative expenses -30 -28 Operating profit 156 176 Financial income 0 0 Financial expense -24 -23 Profit before tax 132 153 Tax expense -7 -47 Net profit 125 106 7
  • Sales, Q4June - August 2010 MSEK %Net sales Q4 2008/09 1 226New stores net 5,1Like For Like 1,8Currency effect -1,7Net sales Q4 2009/10 1 290 5,2 8
  • Financial highlights – full yearSeptember 2009 - August 2010• Net sales MSEK 5 111 (4 866), + 5,0%• Operating profit MSEK 551 (526), +4,8%• Gross margin 61,8 (61,1)%• Operating margin 10,8 (10,8)%• Net profit 402 (315) MSEK, equivalent to SEK 5.36 (4.20) per share, of which deferred taxes 84 MSEK• Cash flow from continuing operations MSEK 507 (504) 9
  • Income statement, full yearSeptember 2009 - August 2010 MSEK 2009/10 2008/09 Net Sales 5 111 4 866 Cost of goods sold -1 954 -1 893 Gross profit 3 157 2 973 Selling expenses -2 467 -2 315 Administrative expenses -139 -132 Operating profit 551 526 Financial income 1 1 Financial expense -89 -84 Profit before tax 463 443 Tax expense -61 -128 Net profit 402 315 10
  • Sales, full yearSeptember 2009 - August 2010 MSEK %Net sales 2008/09 4 866New stores net 6,3Like For Like -0,7Currency effect -0,6Net sales 2009/10 5 111 5,0 11
  • Sales breakdown, full year September 2009 - August 2010 Change LocalMSEK 2009/10 2008/09 in SEK currencySweden 2 696 2 572 4,8% 4,8%Norway 1 419 1 357 4,6% 3,1%Finland 658 664 -0,9 5,3%Poland 331 273 21,2 26,2%Czech Republic 7 - - -Total 5 111 4 866 5,0% - 12
  • Present market situation• From macro economy a key issue is the need for public savings – However in our markets this is not an issue• Still high level of unemployment – Starting to improve• Increasing sourcing costs is a concern• Private consumption should continue well 13
  • Autum 2010• Woman – Vintage Stories – Shape up – Magic jeans – Sentimental Journey• Man – Hampton Republic 27• Children – Woxo and Proxtec 14
  • Five year summary – Sales growth8,0%7,0%6,0%5,0%4,0%3,0%2,0%1,0%0,0% 05/06 06/07 07/08 08/09 09/10 15
  • Five year summary – Gross margin63,0%62,5%62,0%61,5%61,0%60,5%60,0%59,5%59,0% 05/06 06/07 07/08 08/09 09/10 16
  • Five year summary – Operating margin excl. one-offs16,0%14,0%12,0%10,0% 8,0% 6,0% 4,0% 2,0% 0,0% 05/06 06/07 07/08 08/09 09/10 17
  • Five year summary – Return on capital/employed30,0%25,0%20,0%15,0%10,0%5,0%0,0% 05/06 06/07 07/08 08/09 09/10 18
  • Key conclusion• Business concept – proven long term stability• Like-for-like – key focus going forward• Strong gross margin• Strong cash flow – Reduced tax payment going forward• Expansion plans continues 19
  • DisclaimerThese materials may not be copied, published, distributed ortransmitted to third parties.These materials may contain forward-looking statements. If so,such statements are based on our current expectations and aresubject to risks and uncertainties that could negatively affect ourbusiness. Please read our earnings report and our most recentannual report for a better understanding of these risks anduncertainties.These materials do not constitute or form part of any offer orinvitation to sell or issue, or any solicitation of any offer to purchaseor subscribe for, any securities, nor shall part, or all, of thesematerials or their distribution form the basis of, or be relied on inconnection with, any contract or investment decision in relation toany securities. These materials and the information containedherein are not an offer of securities for sale in the United Statesand are not for publication or distribution to persons in the UnitedStates. 20
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