GEOX GROUP - 9M21 SALES -
NOVEMBER 11, 2021
9M21 RESULTS| EXECUTIVE SUMMARY
F, OCTOBER 2021
*ANTE IFRS 16 AND AFTER FAIR VALUE ADJ OF DERIVATIVES
9M21 RESULTS
- 9M21 SALES AT 463.5 MLN€: +7.8% (+8.9% AT COSTANT FOREX) DRIVEN BY WHOLESALE AND BY DOS RE-OPENINGS STARTED IN 2Q21
- 3Q21 SALES AT 199.4 MLN€: +7.1% (+7.4% AT COSTANT FOREX). LFL DOS: +7.2% VS 3Q20 AND -3.7% VS 3Q19
- NET WORKING CAPITAL UNDER CONTROL AT 157 MLN€, WELL BELOW 9M20 (215 MLN€) AND 9M19 LEVEL (243 MLN€)
- NET FINANCIALPOSITION adj* AT THE END OF SEPT AT -95.5 MLN€ (-108.2 MLN€ IN JUNE 2021 AND -99.8 MLN€ IN DECEMBER 2020)
CURRENT TRADING
- DOS NETWORK UPDATE: 100% OPEN FROM JULY 1. NEW LOCKDOWN IN RUSSIA (29 DOS CLOSED FROM OCT 28 TO NOV 7).
- CURRENT TRADING: LFL DOS (WEEK 44) +17% YTD
LFL DOS 4Q TO DATE +50% VS 4Q20 AND +3% VS 4Q19. CONTINUES THE RELEVANT IMPROVEMENT IN
MARKDOWN
2
GEOX RESTRUCTURING PLAN - MISSION ACCOMPLISHED -
NETWORK RATIONALIZATION
CANADA
USA
EUROPE
UK
GERMANY
JAPAN
SERBIA
TOTAL GEOX STORES
974 -20%783
FY19FY21E
RESTRUCTURING PROCESS (NoI):
- EXIT FROM 10 DOS
- MANTEINANCE OF 20 DOS WITH A RELEVANT REDUCTION OF RENT
RESTRUCTURING PROCESS WITH EXIT FROM PHISICAL RETAIL (2 DOS)
CLOUSURE OF THE RETAIL BRANCHES (FRANCE, GERMANY, UK, SPAIN, AUSTRIA) OF THE ITALIAN COMPANY MOVING THE BUSINESS INTO THE COUNTRIES' SUBSIDIARIES FOR A FULL OMNICHANNEL APPROACH
OUT-OF-COURT RESTRUCTURING PROCESS WITH THE EXIT FROM 3 DOS (ON A TOTAL OF 6 DOS)
OUT-OF-COURT RESTRUCTURING PROCESS WITH THE EXIT FROM 11 DOS (ON A TOTAL OF 27 DOS)
LIQUIDATION OF THE SUBSIDIARY WITH THE EXIT FROM PHISICAL RETAIL (7 DOS) AND THE TRANSFER OF THE BUSINESS TO A DISTRIBUTOR
CLOUSURE OF THE SERBIAN PLANT (AUGUST 2021) AND DISPOSAL OF THE PLANT (NOVEMBER 11, 2021)
EBIT 2019 = -5.6 MLN€
EBIT 2019 = -4.7 MLN€
FWC 2019 (14 DOS) = -1.3 MLN€
EBIT 2019 = -2.7 MLN€
3
GEOX SHOPS NETWORK| RATIONALIZATION PROCESS
GEOX SHOPS NETWORK - EVOLUTION BY TYPE -
9M21 VS 9M2O | 9M21 VS 9M19 | ||||||||||
9M21 VS 9M2O | (PERIMETER EFFECT | 9M21 VS 9M19 | (PERIMETER EFFECT | ||||||||
30-Sep-21 | 31-Dec-20 | 30-Sep-20 | 30-Sep-19 | (DELTA STORES) | ON SALES, MLN€) | (DELTA STORES) | ON SALES, MLN€) | ||||
DOS | 359 | 410 | 420 | 449 | -61 | -9.7 | -90 | -32.2 | |||
FRANCHISING | 302 | 322 | 338 | 391 | -36 | -5 | -89 | -18 | |||
UNDER DISTRIBUTION | |||||||||||
AGREEMENTS | 122 | 135 | 133 | 135 | -11 | -13 | |||||
TOTAL | 783 | 867 | 891 | 975 | -108 | -14.7 | -192 | -50.2 | |||
Padova, new opening in 3Q21
GEOX SHOPS NETWORK - EVOLUTION BY AREA - | 9M21 - EVOLUTION BY AREA - | |
30-Sep-21 | 31-Dec-20 | 30-Sep-20 | |||||||||||||
NET OPENINGS | OPENINGS | CLOSURES | |||||||||||||
GEOX SHOPS | of which DOS | GEOX SHOPS | of which DOS | GEOX SHOPS | of which DOS | ||||||||||
ITALY | -26 | 2 | -28 | ||||||||||||
ITALY | 200 | 129 | 226 | 139 | 238 | 143 | |||||||||
EUROPE | -33 | 2 | -35 | ||||||||||||
EUROPE | 213 | 120 | 246 | 142 | 249 | 145 | |||||||||
NORTH AMERICA | 21 | 21 | 24 | 24 | 26 | 26 | NORTH AMERICA | -3 | - | -3 | |||||
ROW | 349 | 89 | 371 | 105 | 378 | 106 | ROW | -22 | 23 | -45 | |||||
TOTAL | -84 | 27 | -111 | ||||||||||||
TOTAL | 783 | 359 | 867 | 410 | 891 | 420 | |||||||||
4
COVID-19IMPACTS ON DOS | PROGRESSIVE IMPROVEMENT IN LFL FROM MID-MARCH
DOS: OPERATING STATUS AND LFL
% DOS |
OPEN* |
VIETNAM SUPPLY CHAIN ISSUES
WITH A TEMPORARY PRODUCT
SHORTAGE IN DOS IN SEPTEMBER
56% | 50% | CURRENT TRADING (WEEK 44): |
▪ |
LFL YTD +17% (B&M +23%,
ONLINE +15%)
7%
▪ 4Q TO DATE: LFL +50% VS 2020 AND +3% VS 2019
% DOS |
CLOSED* |
15%
-20%
LFL IN % |
23% | 20% | ||||||||
-15% | 2% | ||||||||
51% | -16% | ||||||||
34% | |||||||||
-40% | LOCKDOWN IN RUSSIA | ||||||||
(29 DOS CLOSED FROM 28 |
OCT TO 7 NOVEMBER)
-59%
1Q20 | 2Q20 | 3Q20 | 4Q20 | 1Q21 | 2Q21 | 3Q21 | 4Q21 TO DATE |
DOS: OPERATING STATUS AND LFL: DETAILS BY QUARTERS
1Q20 | 2Q20 | 3Q20 | 4Q20 | 1Q21 | 2Q21 | 3Q21 | ||||||||||||||||||
LFL DOS, of which | -20% | LFL DOS, of which | -59% | LFL DOS, of which | -16% | LFL DOS, of which | -40% | LFL DOS, of which | -15% | LFL DOS, of which | 56% | LFL DOS, of which | 7% | |||||||||||
B&M | -25% | B&M | -72% | B&M | -21% | B&M | -55% | B&M | -32% | B&M | 85% | B&M | 6% | |||||||||||
ONLINE | 21% | ONLINE | 59% | ONLINE | 37% | ONLINE | 45% | ONLINE | 85% | ONLINE | -7% | ONLINE | 16% | |||||||||||
% DOS CLOSED | 15% | % DOS CLOSED | 51% | % DOS CLOSED | 1% | % DOS CLOSED | 23% | % DOS CLOSED | 34% | % DOS CLOSED | 20% | % DOS CLOSED | 0% | |||||||||||
19% DOS CLOSED IN 9M21 | ||||||||||||||||||||||||
23% DOS CLOSED IN 9M20 | ||||||||||||||||||||||||
LFL +12% VS 9M20 (B&M +9%, ONLINE +25%) | ||||||||||||||||||||||||
LFL-32.3% VS 9M19 (B&M -39%, ONLINE +39%) | ||||||||||||||||||||||||
LFL -23% VS 9M19 (B&M -34%, ONLINE +75%) | ||||||||||||||||||||||||
*NUMBER OF DOS CLOSED/OPEN DIVIDED BY TOTAL NUMEBER OF DOS ON DAILY BASIS; | 5 | |||||||||||||||||||||||
Questo è un estratto del contenuto originale. Per continuare a leggere, accedi al documento originale.
Attachments
- Original document
- Permalink
Disclaimer
Geox S.p.A. published this content on 11 November 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 11 November 2021 16:46:03 UTC.