Post on 10-Feb-2021
A leader in brand building and management in Southeast Asia
FY2019 AGMPRESENTATION
25 OCTOBER 2019
Agenda
FINANCIAL HIGHLIGHTS
FY2019 SNAPSHOT
BRAND UPDATES
RETAIL FOOTPRINT
GROWTH STRATEGY
OUTLOOK
2
Financial Highlights: Revenue & Gross Margin
• Turnover down 21% in FY19 from discontinued brands and lower sales to Indonesian associate
• Sales in Singapore 34% lower; Malaysia down eight per cent
• Revenue from fashion business 19% lower while revenue from timepiece business fell 43%.
42%39%
42%46%
49%
Gross Margin
FY15 FY16 FY17 FY18 FY19
293.4
253.6
207.5
166.0
131.5
Turnover
in S$ mil
3
Financial Highlights: Profit/Loss Before Tax
FY15 FY16 FY17 FY18 FY19
-15.0
-22.4
-16.5
0.92.1
4
In S$ mil
Financial Highlights: Net Profit/Loss After Tax
FY15 FY16 FY17 FY18 FY19
-15.6
-23.0
-17.4
-1.2
0.2
5
In S$ mil
FY2019 SnapshotBetter quality business
• All existing brands performed well
• Positive cash flows of $4.3 million
• Operating expenses at $60.7 million, down 19%. Total savings of $13.9 million
• Net borrowings down to $12.6 million from $12.8 million in FY2018
• Net gearing unchanged at 24%.
6
FY2019 Snapshot
Indonesia operations
• Revenue of associate company declined three per cent due to:
• Slower spending ahead of general elections in April
• Dampened consumer sentiment resulting from street protests and riots in reaction to election
• Losses from discontinued business
• Clearance of aged stock
• Loss from associate reduced from $3.1 million in FY18 to $1.7 million in FY19.
7
Brand Updates
• Began distributing Swiss luxury watch label Baume & Mercier in April; response in line with expectations
• Opened new Superdry store in revamped Funan mall and launched e-commerce platform for Superdry in Singapore in July
• Opened Fauré Le Page first store in Singapore in Ngee Ann City in August; response to the luxury French heritage brand has been good.
8
Retail Footprint
FY17 FY18 FY19
416
300
275
Total Square Feet in '000
FY17 FY18 FY19
Singapore 30 16 14
Malaysia 76 65 62
Indonesia 144 139 122
Total 250 220 198
FY17 FY18 FY19
220
198
250
Number of stores
9
Growth Strategy
• Organic expansion in the region for brands like Casio, Guess, La Senza and Superdry
• Step up business development, explore new, high-growth brands with online capabilities
• Increase investments in omnichannel strategy including expanding Superdry online presence in Malaysia in 2Q FY20.
10
Outlook
• Regional economies showing signs of slowdown with dampening impact on consumer sentiment
• Post-restructuring business expansion will be cautious and targeted at high performing brands
• Better integration of brick-and-mortar network and online stores for more seamless customer experience across channels.
11
Thank You