Investor Presentation HY2017. Maître Chocolatier Suisse Depuis 1845

Transcription

1 Investor Presentation HY2017

2 Agenda 1. Performance Highlights HY P&L and B/S Details HY Outlook 2017 Investors Presentation HY2017 July 25th,

3 Performance Highlights HY2017

4 P&L Statement L&S Group Organic growth of +3.6% and EBITDA-margin increase of +80 bp CHF million HY2016 HY2017 Growth in % Sales Organic growth Organic growth w/o Russell Stover EBITDA Margin % +3.6% +6.6% % % +9.7% EBIT Margin % % +6.7% Net Income Margin % % +5.7% Investors Presentation HY2017 July 25th,

5 Balance sheet Strong Equity, Further Reduction of Net Debt Equity in CHF million Equity B/S Ratio in % Net Financial Position in CHF million 60% % 40% 30% 57.1% 59.2% % 10% YE 2016 HY % YE 2016 HY YE 2016 HY 2017 Investors Presentation HY2017 July 25th,

6 P&L and B/S Details HY2017

7 Sales analysis 5 years in CHF Increase in CHF by +3.1% Absolute in CHF million Growth rate in % % 6.0% 17.4% 6.6% 3.1% HY2013 HY2014 HY2015 HY2016 HY2017 Investors Presentation HY2017 July 25th,

8 Sales analysis 5 years in local currencies Organic Growth Excluding Russell Stover at +6.6% for HY 2016 & 2017 Absolute in CHF million Increase p.a. in local currencies (organic growth in %) % 9.2% 9.4% 4.4% 3.6% HY2013 HY2014 HY2015 HY2016 HY2017 Investors Presentation HY2017 July 25th,

9 Sales analysis - markets Total NNTS CHF 14.9% 1.549bn 36.0% 6.3% North America Germany 5.7% France CH excl. Exports 6.6% Italy UK 8.7% 4.9% 9.2% 9.4% 4.4% 6.8% Rest of Europe 16.4% Rest of the World 9.2% Investors Presentation HY2017 July 25th,

10 Sales analysis - drivers Positive Price/Mix Impact 5% 4% 3% 1.6% 3.6% - 0.5% 3.1% 2% 2.0% 1% 0% Volume Price / Mix Organic Forex Reported in CHF Investors Presentation HY2017 July 25th,

11 Sales analysis segment information Above-average Organic Growth in Europe and Rest of World Europe NAFTA Rest of World % % % % % % HY 2016 HY HY 2016 HY HY 2016 HY 2017 Percentage above column: organic growth of respective period Investors Presentation HY2017 July 25th,

12 Material costs changes in inventories 600 Absolute in CHF million In % sales Decreased Ratio by -110 bp % 35.2% 36.2% 34.9% 33.8% HY2013 HY2014 HY2015 HY2016 HY2017 Investors Presentation HY2017 July 25th,

13 Personnel expenditure 450 In CHF million In % Sales Increased Ratio by 70 bp partially driven by Retail expansion % 25.8% 26.5% 26.2% 26.9% HY 2013 HY 2014 HY 2015 HY 2016 HY 2017 Investors Presentation HY2017 July 25th,

14 Operating / marketing expenses Continued High Marketing Investments 500 In CHF million In % Sales % 29.0% 27.2% 28.1% 28.0% HY 2013 HY 2014 HY 2015 HY 2016 HY 2017 Investors Presentation HY2017 July 25th,

15 Depreciation, amortization and impairment Higher Depreciation Ratio by +50 bp due to Increased Capacity CAPEX Absolute in CHF million In % Sales % 4.2% 4.2% 4.6% 5.1% HY 2013 HY 2014 HY 2015 HY 2016 HY 2017 Investors Presentation HY2017 July 25th,

16 Operating profit (EBIT) Continued Margin Improvement: +20 bp 120 Absolute in CHF million In % Sales XXX +XXX +XXX +XXX +XXX 5.8% 6.4% 6.4% 6.6% 6.8% HY 2013 HY 2014 HY 2015 HY 2016 HY 2017 Investors Presentation HY2017 July 25th,

17 Net income 80 Absolute in CHF million In % Sales Higher Financial Charges, Decrease in Tax Rate XXX +XXX +XXX +XXX +XXX 4.3% 4.7% 4.6% 4.8% 4.9% HY 2013 HY 2014 HY 2015 HY 2016 HY 2017 Investors Presentation HY2017 July 25th,

18 Operating cash flow & capex 400 Operating Cash Flow in CHF million CAPEX in CHF million Strong Operating Cash Flow XXX +XXX +XXX +XXX +XXX HY 2013 HY 2014 HY 2015 HY 2016 HY 2017 Investors Presentation HY2017 July 25th,

19 Net financial position development Further Reduction of Net Debt Net Cash in CHF million Operating Cash Flow Capital Increase Dividend Capital Expenditure CTA/Other Investors Presentation HY2017 July 25th,

20 Outlook 2017

21 Outlook environment 2017 Outlook - Summary Premium chocolate market to continue its positive trend Lindt & Sprüngli s strong global brands and strategic business actions to result in continued market share gains Efficiency- and cost improvement programs already in place to lead to additional cash generation Partial re-investment of savings from scale, efficiencies, raw materials and cost reduction programs into future growth The Group expects accelerated growth in the second half of 2017 The Group confirms its mid/long term goal of an organic sales growth target of 6 8% combined with an increase in EBIT of basis points For the business year 2017, Lindt & Sprüngli expects organic sales slightly below last year and a further improvement in the EBIT margin Investors Presentation HY2017 July 25th,

22 Disclaimer This presentation contains forward looking statements which reflect Management s current views and estimates. The forward looking statements involve certain risks and uncertainties that could cause actual results to differ materially from those contained in the forward looking statements. Potential risks and uncertainties include such factors as general economic conditions, foreign exchange- and commodity price fluctuations, competitive product and pricing pressures and regulatory developments. Investors Presentation HY2017 July 25th,