KAPPAHL GOES AGAINST THE TREND: INCREASED SALES AND GROSS MARGIN ON A WEAK MARKET. Six months report 2012/13 (Sept-Feb)

Transcription

1 KAPPAHL GOES AGAINST THE TREND: INCREASED SALES AND GROSS MARGIN ON A WEAK MARKET Six months report 2012/13 (Sept-Feb)

2 Agenda Highlights Q2 and half year 2012/2013 Johan Åberg President and CEO Going forward Questions Håkan Westin CFO 2

3 Campaigns during period Design by KappAhl

4 Highlights Positive Like-for-like sales Gross margin improvement +320 basis points Growing operating profit Equity ratio 45,6% New share issue fully subscribed Increased ad awareness 4

5 166 Stores by end February Total 391 stores No new stores and four closed during Q2 Total 13 new stores and nine closures 2012/ new stores under contract

6 Financial highlights Q2 Net sales MSEK (1 119), an increase of 2.6 percent Operating profit MSEK -35 (-55), excl. one-off items Gross margin 55.1 (51.9) percent, an increase of 3.2 percentage points Operating margin -3.1 (-4.9) percent, excl. one-off items 6

7 Operating profit (excl. one-off items) 160 7

8 Sales Q2 MSEK % Net sales 2011/ New stores net 2.6 Like for like 0.3 Currency effect -0.3 Net sales 2012/

9 Income statement Q2 MSEK 2012/ /12 Net sales Cost of goods sold Gross profit Selling expenses Administrative expenses Other operating incomes -1 - Operating profit Financial income 0 0 Financial expense Profit before tax Tax expense Net profit

10 Cash flow Q2 MSEK 2012/ /12 Cash flow from continuing operations before change in working capital Change in working capital Cash flow from operating activities Cash flow from investment activities Cash flow after investments Change bank credits New share issue Cash flow for the period

11 Financial highlights, half year Net sales MSEK (2 312), an increase of 3.5 percent Operating profit MSEK 69 (-39), excl. one-off items Gross margin 59.3 (55.3) percent, an increase of 4.0 percentage points Operating margin 2.9 (-1.7) percent, excl. one-off items 11

12 Income statement, six months MSEK 2012/ /12 Net sales Cost of goods sold Gross profit Selling expenses Administrative expenses Other operating incomes 76 0 Operating profit Financial income 0 0 Financial expense Profit before tax Tax expense Net profit

13 Cash flow, six months MSEK 2012/ /12 Cash flow from continuing operations before change in working capital Change in working capital Cash flow from continuing operations Sale of property Cash flow from investment activities Cash flow after investments Change bank credits New share issue Cash flow for the period

14 Sales, half year MSEK % Net sales 2011/ New stores net 2.7 Like for like 1.5 Currency effect -0.7 Net sales 2012/

15 Going forward Action plan 2013 Continued focus on improved performance: sales gross margin assortment stores cost control Assortment Hampton Republic 27 Underwear department Stylish dressed collection Increased focus on Mens department Future, Friendly, Fashion Increased eco cotton It s all about being friendly 15

16 Going forward, 2 Marketing Bringing the advertising concept forward New store concept Shop Online logistics in-house 16

17 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.

18 Campaigns spring/summer 2013 Design by KappAhl