The document discusses Arezzo&Co's financial results for the third quarter of 2011, highlighting an 18.9% increase in net revenue, 47.5% growth in EBITDA, and a 63.3% rise in net income. It also outlines the company's expansion plans, including opening new owned stores and franchises to strengthen its multi-channel distribution strategy and national presence.
This is the launch of BillingViews' new Facebook Success Index. It measures the success global communications operators are having as they engage customers via Facebook and ranks them based on several metrics
Rudi Bekkers shares with the AOM audience the ideas of his paper authored with Simon den Uijl and Henk de Vries, whose focus is on Patent Pools. Their work examines the experiences with three generations of patent pools in the optical disc industry.
den Uijl, S., Bekkers, R., & de Vries, H. (2013). Managing intellectual property using patent pools: Lessons from three generations of pools in the optical disc industry. California Management Review, 55(4), 31-50.
This is the launch of BillingViews' new Facebook Success Index. It measures the success global communications operators are having as they engage customers via Facebook and ranks them based on several metrics
Rudi Bekkers shares with the AOM audience the ideas of his paper authored with Simon den Uijl and Henk de Vries, whose focus is on Patent Pools. Their work examines the experiences with three generations of patent pools in the optical disc industry.
den Uijl, S., Bekkers, R., & de Vries, H. (2013). Managing intellectual property using patent pools: Lessons from three generations of pools in the optical disc industry. California Management Review, 55(4), 31-50.
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Creating Strong and Passionate Communities of PracticeTy Crockett
This is a presentation that Allison Pollard and I have been delivering because of our desire to see communities of practice flourish as vehicles for improvement
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Cracking the Workplace Discipline Code Main.pptxWorkforce Group
Cultivating and maintaining discipline within teams is a critical differentiator for successful organisations.
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Implicitly or explicitly all competing businesses employ a strategy to select a mix
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"𝑩𝑬𝑮𝑼𝑵 𝑾𝑰𝑻𝑯 𝑻𝑱 𝑰𝑺 𝑯𝑨𝑳𝑭 𝑫𝑶𝑵𝑬"
𝐓𝐉 𝐂𝐨𝐦𝐬 (𝐓𝐉 𝐂𝐨𝐦𝐦𝐮𝐧𝐢𝐜𝐚𝐭𝐢𝐨𝐧𝐬) is a professional event agency that includes experts in the event-organizing market in Vietnam, Korea, and ASEAN countries. We provide unlimited types of events from Music concerts, Fan meetings, and Culture festivals to Corporate events, Internal company events, Golf tournaments, MICE events, and Exhibitions.
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3.0 Project 2_ Developing My Brand Identity Kit.pptxtanyjahb
A personal brand exploration presentation summarizes an individual's unique qualities and goals, covering strengths, values, passions, and target audience. It helps individuals understand what makes them stand out, their desired image, and how they aim to achieve it.
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Memorandum Of Association Constitution of Company.pptseri bangash
www.seribangash.com
A Memorandum of Association (MOA) is a legal document that outlines the fundamental principles and objectives upon which a company operates. It serves as the company's charter or constitution and defines the scope of its activities. Here's a detailed note on the MOA:
Contents of Memorandum of Association:
Name Clause: This clause states the name of the company, which should end with words like "Limited" or "Ltd." for a public limited company and "Private Limited" or "Pvt. Ltd." for a private limited company.
https://seribangash.com/article-of-association-is-legal-doc-of-company/
Registered Office Clause: It specifies the location where the company's registered office is situated. This office is where all official communications and notices are sent.
Objective Clause: This clause delineates the main objectives for which the company is formed. It's important to define these objectives clearly, as the company cannot undertake activities beyond those mentioned in this clause.
www.seribangash.com
Liability Clause: It outlines the extent of liability of the company's members. In the case of companies limited by shares, the liability of members is limited to the amount unpaid on their shares. For companies limited by guarantee, members' liability is limited to the amount they undertake to contribute if the company is wound up.
https://seribangash.com/promotors-is-person-conceived-formation-company/
Capital Clause: This clause specifies the authorized capital of the company, i.e., the maximum amount of share capital the company is authorized to issue. It also mentions the division of this capital into shares and their respective nominal value.
Association Clause: It simply states that the subscribers wish to form a company and agree to become members of it, in accordance with the terms of the MOA.
Importance of Memorandum of Association:
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Constitutional Document: It serves as the company's constitutional document, defining its scope, powers, and limitations.
Protection of Members: It protects the interests of the company's members by clearly defining the objectives and limiting their liability.
External Communication: It provides clarity to external parties, such as investors, creditors, and regulatory authorities, regarding the company's objectives and powers.
https://seribangash.com/difference-public-and-private-company-law/
Binding Authority: The company and its members are bound by the provisions of the MOA. Any action taken beyond its scope may be considered ultra vires (beyond the powers) of the company and therefore void.
Amendment of MOA:
While the MOA lays down the company's fundamental principles, it is not entirely immutable. It can be amended, but only under specific circumstances and in compliance with legal procedures. Amendments typically require shareholder
[Note: This is a partial preview. To download this presentation, visit:
https://www.oeconsulting.com.sg/training-presentations]
Sustainability has become an increasingly critical topic as the world recognizes the need to protect our planet and its resources for future generations. Sustainability means meeting our current needs without compromising the ability of future generations to meet theirs. It involves long-term planning and consideration of the consequences of our actions. The goal is to create strategies that ensure the long-term viability of People, Planet, and Profit.
Leading companies such as Nike, Toyota, and Siemens are prioritizing sustainable innovation in their business models, setting an example for others to follow. In this Sustainability training presentation, you will learn key concepts, principles, and practices of sustainability applicable across industries. This training aims to create awareness and educate employees, senior executives, consultants, and other key stakeholders, including investors, policymakers, and supply chain partners, on the importance and implementation of sustainability.
LEARNING OBJECTIVES
1. Develop a comprehensive understanding of the fundamental principles and concepts that form the foundation of sustainability within corporate environments.
2. Explore the sustainability implementation model, focusing on effective measures and reporting strategies to track and communicate sustainability efforts.
3. Identify and define best practices and critical success factors essential for achieving sustainability goals within organizations.
CONTENTS
1. Introduction and Key Concepts of Sustainability
2. Principles and Practices of Sustainability
3. Measures and Reporting in Sustainability
4. Sustainability Implementation & Best Practices
To download the complete presentation, visit: https://www.oeconsulting.com.sg/training-presentations
2. Important Disclaimer
Statements regarding the Company’s future business perspectives and projections of operational and financial results are
merely estimates and projections, and as such they are subject to different risks and uncertainties, including, but not
limited to, market conditions, domestic and foreign performance in general and in the Company’s line of business. These
risks and uncertainties cannot be controlled or sufficiently predicted by the Company management and may significantly
affect its perspectives, estimates, and projections. Statements on future perspectives, estimates, and projections do not
represent and should not be construed as a guarantee of performance. The operational information contained herein, as
well as information not directly derived from the financial statements, have not been subject to a special review by the
Company’s independent auditors and may involve premises and estimates adopted by the management.
2
3. 3Q11 Highlights
Net
Net revenues amounted to R$ 188.9 million, growing 18.9% over 3Q10
Revenue
Gross
Gross margin stood at 41.8% in 3Q11, 2.1 p.p. higher than in 3Q10
Margin
EBITDA EBITDA amounted to R$ 35.5 million, growth of 47.5% over 3Q10 and margin of 18.8%
Net Income Net income in 3Q11 was R$ 25.9, 63.3% higher than in 3Q10 and margin of 13.7%
In 3Q11, Arezzo&Co expanded its store network opening 11 points of sale: 8 Arezzo stores
Expansion
and 3 Schutz within the new store concept
3
4. Company Growth
Gross Revenues – (R$ million)
The Company continues presenting a strong growth of gross revenues in both third quarter
and in the nine months of the year
4
5. Gross Revenues Breakdown by Channel
Gross Revenues by channel – Domestic Market (R$ million)
25.8% 575.5
457.5 4.8
93.3
5.1 28.8%
22.9%
226.9 72.5
177.1
184.6 33.8%
132.4
18.7%
2.0
3.4 34.6 21.3%
42.1%
29.2 69.2 300.4
48.7 247.6
17.2%
103.2 121.0
3Q10 3Q11 9M10 9M11
SSS Sell-out (Owned Stores) 26.5% 0.4% 25.8% 9.6%
SSS Sell-in (Franchises) 25.8% 11.6% 34.5% 15.6%
Solid performance of all distribution channels, specially for owned stores and multi-brand
(1) Others: reduction of 40.2% in 3Q11 and of 6.2% in 9M11.
5
6. Gross Revenues Breakdown by Brand
Gross Revenues by brand – Domestic Market (R$ million)
25.8% 575.5
457.5 20.2
155.8
8.3 30.5%
22.9% 119.4
226.9
184.6
8.4 21.1%
34.0% 399.5
4.6 59.3
44.3 329.8
17.3%
135.7 159.2
3Q10 3Q11 9M10 9M11
Great sales performance for all brands. Arezzo, main brand of the Group, keeps growing over
20% in the year, while Schutz has grown more than 30% both in third quarter and in 9M11
(1) Other brands: Alexandre Birman and Anacapri’ s Domestic market. Gross revenues presented a growth of 81.6% in 3Q11 and of 142.7% in 9M11.
6
7. Distribution Channel Expansion
Owned Stores and Franchises Expansion
15.5%
19.8% 19.3
10.1%
16.7
13.9
12.7 311
280 +31
246 36
227 +34 27
+19 17
9
253 275
218 229
3Q08 3Q09 3Q10 3Q11
The Company ended the third quarter with 311 stores and 15.5% of sales area expansion
when compared to 3Q10
Note: area given in thousand m²
(1) Includes 4 Arezzo outlets and 1 Schutz outlet
(2) Domestic Market
7
8. Gross Profit
Gross Profit (R$ million) and Gross Margin (%)
41.8% 41.2% 41.9%
39.7%
23.0%
201.1
163.5
25.1%
78.9
63.1
3Q10 3Q11 9M10 9M11
Gross Profit Gross Margin
Gross profit rose by 25.1% in 3Q11 with margin expansion of 2.1 p.p., mainly reflecting the
change in distribution channel mix and a higher share of imported handbags in the product
mix
8
9. EBITDA
EBITDA (R$ million) and EBITDA Margin (%)
18.8%
17.6%
16.3%
15.2%
31.1% 84.6
64.5
47.5%
35.5
24.1
3Q10 3Q11 9M10 9M11
EBITDA EBITDA Margin
Significant growth in 3Q11 EBITDA, with margin expansion of 3.6 p.p. over 3Q10
9
10. Net Income and Net Margin
Net Income (R$ million) and Net Margin (%)
13.7% 13.5%
10.8%
10.0%
64.7
50.4%
63.3% 43.0
25.9
15.9
3Q10 3Q11 9M10 9M11
Net Income Net Margin
Company’s net income rose by 63.3% in 3Q11, with margin expansion of 3.7 p.p.
10
11. Cash Generation
Operating Cash Generation (R$ thousand)
Growth or Growth or
Cash flows from operating activity 3Q10 3Q11 9M10 9M11
spread spread
Income before income taxes 21,851 38,854 17,003 59,758 90,520 30,762
Depreciation and amortization 680 1,050 370 1,847 2,890 1,043
Others 499 (1,680) (2,179) 548 (7,943) (8,491)
Decrease (increase) in current assets / liabilities (15,848) (38,949) (23,101) (22,406) (28,200) (5,794)
Trade accounts reveivable (30,203) (51,314) (21,111) (8,461) (27,418) (18,957)
Inventories (13,003) (3,983) 9,020 (30,193) (22,820) 7,373
Suppliers 16,350 12,778 (3,572) 14,285 21,306 7,021
Change in other current assets and liabilities 11,008 3,570 (7,438) 1,963 732 (1,231)
Change in other non current assets and liabilities 2,215 (946) (3,161) 4,074 (2,119) (6,193)
Tax and contributions (10,686) (6,363) 4,323 (12,766) (14,703) (1,937)
Net cash generated by operating activities (1,289) (8,034) (6,745) 31,055 40,445 9,391
Company disbursed R$ 8.0 million of operating cash, aligned with its deliveries calendar
11
12. Capital Expenditure (CAPEX) and
Indebtedness
CAPEX (R$ million) Indebtedness (R$ million)
Indebtedness 3Q10 2Q11 3Q11
Cash 18,754 199,339 178,999
Total indebtedness 37,457 32,276 35,065
Short term 17,288 12,547 16,270
% da Dívida Total 46% 39% 46%
Long term 20,169 19,729 18,795
% da Dívida Total 54% 61% 54%
Net debt 18,703 (167,063) (143,934)
EBITDA LTM 85,567 104,119 115,561
Net debt /EBITDA LTM 0.22x -1.60x -1.25x
Capex in 3Q11 was mainly concentrated in the opening of 5 stores, purchase of points of sale for
future openings and expansion of existing stores
(1) Others: reduction of 33.3% in 3Q11 over 3Q10 and of 46.2% in 9M11 over 9M10.
12
13. Greater National Presence
Strengthening its multi channel distribution strategy, Arezzo&Co has structured GTM-
Schutz project for brand’s roll out over the country
Enlarge Schutz national presence leveraged by mono brand stores
Big cities
Focus on Shopping Centers
Target audience A/B1
Multi brand distribution
Mono brand and multi
brand distribution
13
14. Mono Brand Stores Strategy
Schutz new project for owned stores and franchises:
Emphasizing the products and the campaigns;
Reinforcing the brand with a complete presentation of each collection;
Schutz – Higienópolis Shopping / São Paulo Schutz – Iguatemi Shopping / Salvador
Pilot project:
Opening of 2 stores within the new project: Higienópolis Shopping – SP and Barra
Sul Shopping – POA;
Launch of first pilot franchise in the city of Salvador - BA
14
15. Multi Brand Market Analysis
Smaller regions for sales person, with an Exemple – “South” Coordinator
increased team
Regional Coordinator
Consultants in areas with a greater
concentration of stores
Sales representatives in less dense but with
potential growth areas
Incentive for the prospect of new clients
and more frequent visits
Geographical limits (e.g. mountains) and
higher travel costs control
Internal targets: cities covered, number of
clients and sales per customer
15
16. Flexible Distribution Strategy
Arezzo&Co has been consolidating different distribution channels in which has
developed the expertise for its brands portfolio
Retail expertise, increasing channel’s relevance;
Owned stores: Schutz owned store in 5 cities: Sao Paulo, Rio de Janeiro, Porto Alegre,
Brasília e Belo Horizonte.
Expansion of the most representative channel of the Group, now for Schutz brand;
Franchises:
Relationship with local consumers.
Greater presence and brand’s national visibility;
Multi Brand:
Sales team optimization: internal team and commissioned sales representatives.
Reach consumers all over the country;
Webcommerce:
Wide range of models in each collections.
16
17. Expansion Guidance Update – Arezzo&Co
392
# Owned stores
11
# Franchises
47 54
334
7
43
311 16 +17%
7
296 36
8
+7%
29 338
291
+5%
275
267
2010 3Q11 2011 2012
Reinforce our commitment to the opening of 38 stores in 2011;
Existing stores were expanded in 391m² over last nine months, in line with the 1,000m² target until 2012;
We increased in 20 stores the 2012 guidance, specially due to GTM project.
17
18. Contacts
CFO and IRO
Thiago Borges
IR Manager
Daniel Maia
Telephone: +55 11 2132-4300
ri@arezzoco.com.br
www.arezzoco.com.br
18