o o o 85% 14% o o o 249 m *

Transcription

1

2 BONAN DEMULIER

3

4 85% 14% 249 m*

5

6 k e y f i g u r e s

7 Rche Bbis SA made its capital available t the public - thrugh a first ever share issue

8 54 cuntries

9

10

11

12

13

14 H retail sales Breakdwn f cnslidated revenues ( m) m H1 2017* H Sale f gds Franchise ryalties Supplier cmmissins and ther Sale f services (including paid deliveries) Revenues Breakdwn f cnslidated revenues (%) 14% Cuir Center France 35% 2% Other (verseas) 1% Crprate 18% Other Eurpe 6% UK 24% USA/Canada

15 ( % at cnstant exchange rates ( % at cnstant exchange rates ( %) ( % at cnstant exchange rates ( %) 129m H revenues ( m) ( % at cnstant exchange rates

16 Change in grss margin Sales margin in wned stres ( m) m H1 2017* H Sale f gds Cst f gds sld (47.0) (47.9) Grss prfit Grss margin (% f sales) 57.4% 57.7%

17 m H1 2017* H Ch. % Advertising & PR % Leases and rental expenses % Freight csts (mainly custmer deliveries) Other (fees, subcntractrs, stre pening expenses, meetings etc.) % External expenses ( m) Ttal external expenses % m Staff csts ( m) H1 2017* H Ch. % Staff pay and scial security charges % Share-based payments (Bnus share plan) % Ttal staff csts %

18 EBITDA ( 000) H H Ch. % Change at cnstant exchange rates Rche Bbis France 2,836 3, % +27.9% Rche Bbis USA/Canada 3,750 3, % -4.0% Rche Bbis UK % -5.4% Rche Bbis Other Eurpe 2,379 1, % -22.9% Rche Bbis Other (verseas) 1,213 1, % -4.6% Cuir Center (France) 1,851 1, % +2.2% Crprate (2,562) (2,285) n/a n/a Ttal 10,181 10, % +3.1%

19 EBITDA margin H H Rche Bbis France 6.6% 8.0% Rche Bbis USA/Canada 12.3% 10.9% Rche Bbis UK 8.3% 8.4% Rche Bbis Other Eurpe 10.7% 7.7% Rche Bbis Other (verseas) 62.8% 58.0% Cuir Center (France) 10.3% 10.4% Crprate n/a n/a Ttal 8.1% 8.0%

20 H1 2017* H Current EBITDA incl. Rche Bbis incl. Cuir Center incl.crprate (2.6) (2.3) Share-based payments including scial security charges (1.7) (3.3) Stre pening csts (0.1) (0.1) Depreciatin, amrtizatin and impairment f nn-current assets (3.1) (3.1) EBIT befre nn-recurring items

21 m H1 2017* H EBIT befre nn-recurring items Other nn-recurring perating incme and expenses (0.2) (0.4) EBIT Net financial expense (0.5) - Crprate incme tax (1.5) (1.5) Net prfit Net prfit - Grup share

22 m H1 2017* H Sale f gds Ryalties and ther services Revenues Cst f gds sld (47.0) (47.8) External expenses (excluding stre pening csts) (41.9) (42.9) Staff csts (excluding share-based payments) (25.6) (26.3) Taxes and duties (2.1) (1.7) Net prvisin charges Share f earnings f assciates Other underlying incme and expenses - (0.1) EBITDA % f revenues 8.1% 8.0% Share-based payments (1.7) (3.3) Stre pening csts (0.1) (0.1) Depreciatin/amrtisatin (3.1) (3.1) EBIT befre nn-recurring items Other nn-recurring incme and expenses (0.2) (0.4) EBIT Net cst f debt (0.2) (0.1) Other financial incme and expenses (0.3) 0.1 Crprate incme tax (1.5) (1.5) Net prfit Net prfit - Grup share

23

24 m 2017 (12 mnths) H1 2017* H Operating cash flw befre net cst f debt and tax Change in wrking capital 2.9 (7.6) (7.2) Taxes paid (4.3) (0.6) (1.7) Cash flw frm perating activities Cash flw frm investing activities (10.5) (4.2) (1.9) New brrwings Net interest paid (0.4) (0.2) (0.1) Repayments f brrwings (9.1) (4.3) (1.9) Dividends (2.0) (2.0) (15.2) Cash flw frm financing activities (17.2) Currency differences (0.8) (0.4) (0.1) Increase/(decrease) in cash 8.8 (3.1) (18.2) m 2017 (12 H1 2017* H mnths) Cash Bank verdrafts (0.6) (2.4) (3.8) Clsing cash balance

25 Revenues and EBITDA up Gradual imprvement in France prfitability, as per IPO targets t duble France EBITDA margin by 2021 H EBIT hit by nn-recurring items (share-based payments and IPO csts) Still very healthy and rbust balance sheet with free cash f 14.4 millin and very lw debt

26

27 OWNED STORES FRANCHISES

28 SEPTEMBER 2018 '

29

30 Step up f like-fr-like grwth

31 A new cycle f grwth launched by an acceleratin f wned stre penings in strng EBITDA-generating cuntries ACCELERATION OWNED FRANCHISES TOTAL France Eurpe OPTIMISATION Nrth America Rest f wrld Ttal penings - grss Ttal penings - net

32 Accelerated takevers f franchises in high-ptential areas INCLUSION OF EXISTING FRANCHISE REVENUES IN GROUP REVENUES COMPANY S ABILITY TO GROW REVENUES

33 Revenues 249m 320m Duble-digit EBITDA margin frm 2019 France EBITDA margin dubled by 2021

34

35

36

37 GLOSSARY Retail sales: Orders received excl. VAT thrughut wned stre netwrk and franchises fr bth brands Net scpe: Scpe adjusted fr stre clsures Like-fr-Like: Sales grwth n same-stre basis is calculated by cmparing sales generated by stres in a given year with the previus year s sales, excluding stres pened r clsed during the tw years under cmparisn. Sales generated by stres temprarily clsed fr wrks during ne f the perids under cmparisn are included. Underlying EBITDA means earnings befre interest, tax, depreciatin, and amrtizatin. Underlying EBITDA is stated after inventry and receivables impairment but befre stre pening csts and staff share-based payments including related scial security charges. Opening csts: In the initial weeks after a stre pening, the stre incurs sales and startup csts (primarily rent, advertising and payrll csts including sales agents' cmmissins based n rder entry) befre earning any revenue. Opening csts refer t these expenses and are nly calculated n new wned stre penings during the year.

38 Surce:

39

40

41

42 11,4% 37,2% 34,8% 16,6%

43 a r u n d 40 R c h e B b is Stres ( 60 s) 1974 and 1975 First franchises in USA (New Yrk) and Spain 1995 First stre pened in Italy (Turin) 2004 First stres in China (Shanghai and Beijing) 180 R c h e B b i s s t r e s / 2 6 c u n t r i e s ( ) 2006 Buyback f franchised stres in the USA 2009 New stres in Caracas, Kiev, Vienne and Shenzhen 2015 Stres pened in Hng Kng, Bucharest, and CapeTwn 250 R c h e B b i s Stres ( 2013) 2018 Tysns Crner stre Virginia (USA) 330 R c h e B b i s and C u i r C e n t e r S t r e s ( J u n e 2018)

44 BONAN ROCHE AMOURDEDIEU GABILLAUD CHOUCHAN ELIA LOUSTAU DEMULIER ROCHE ERRA TAMBURI ROCHE GLEIZE

45

46 2 COLLECTIONS PER YEAR FABLESS PRODUCTION 100% EUROPE* MARKETING/ ADVERTISING DISTRIBUTION ***

47 w n e d c u r r e n t s c p e : f r a n c h i s e s number breakdwn

48 1 9 8 s 1, f 615 a Ligne Rset Cassina Mintti Rche Bbis

49 Frm 950* 295 4,162 design Hans Hpfer First editin in 1971 design Sng Wen Zhng design Studi Nas 10,519 (7 seats) 3,649 design Sacha Lakic design Studi ROCHE BOBOIS

50

51

52 expertise cmfrt affrdability by regin 92 m 5 95 by type by stre type

53 Luxury High-end Mid-range Rche Bbis Pltrna Frau (with Cassina) Mintti Mlteni Grup B&B Italia (Avec Maxalt) Grupe Rset Knll Design Within Reach (Herman Miller, Inc) Restratin Hardware, Inc BCncept Habitat Cuir Center Cmpany Years * Turnver* m212 m273 m101 m136 m 165 m 115 $m $m 2278,2 ** $m m 166 *** m 83 m 34 Distributin channel Own stres / Franchise Own stres/ Reseller Franchise / Reseller Own stres/ Reseller Own stres/ Reseller Own stres/ Reseller Own stres/ Own stres/ Reseller Reseller Own stres/ Reseller Own stres / Franchise Own stres / Franchise Own stres / Franchise Online sales (2019) x x x x (2019) Gegraphic psitin Eurpe, US, RW Eurpe, USA, RW Eurpe, USA, RW Eurpe, USA, RW Eurpe, USA, RW Eurpe, USA, RW USA, Eurpe Canada, USA, Canada, Mexique USA Eurpe, USA, RW Eurpe Eurpe, US, RW Market value Rche Bbis S.A listed Nt listed Nt listed Nt listed Nt listed Nt listed Nt listed Nt listed Eurnext Paris Rche Bbis S.A listed Eurnext Paris Market n.a. n.a. n.a. n.a. n.a. n.a. NYSE NASDAQ NYSE n.a. n.a. n.a. *Turnver 2016 nt available **Turnving hlding cmpany nt listed ***Turnver f B Cncept cnverted t average 2016 rate f 1 DKK =0,1343 Eur

54 (en Mds$ et %)* 1,91% 2,05% 2,25% 2,44% 2,63% (ffline/nline) (en Mds$ et %)* 2,86% Ranking Cmpanies Ttal revenues (2017) 1 Ashley HmeStre 4,2 milliards US$ 2 Mattress Firm 3,4 milliards US$ 3 Ikea, Cnshhcken, Pa 3,3 milliards US$ 4 Williams-Snma 2,9 milliards US$ 5 Rms T G 2,3 milliards US$ 6 RH*** 2,0 milliard US$ 7 Berkshire Hathaway 2 milliards US$ 8 Sleep Number, Minneaplis 1,4 milliard US$ 9 Big Lts 1,4 milliard US$ 6,16 6, Raymur & Flanigan 1,4 milliard US$ 34 Design Within Reach*** 300 millins US$ 57 Mitchell Gld + Bb Williams *** 127 millins US$ 0,42 0, Rche Bbis (New Yrk)*** 87,7 millins US$

55