Distribuidora Internacional de Alimentacion SA · BME:DIA
Distribuidora Internacional de Alimentacion SA — H1 2016 Earnings Presentation
24 slides from Distribuidora Internacional de Alimentacion SA's earnings presentation, 2016
Slide 1: H1 16 Results
H116 Results
Slide 2: Disclaimer
DISCLAIMER This document does not constitute or form part of any purchase, sales or Exchange offer, nor is it an invitation to draw up a purchase sales or exchange offer, or advice on any stock issued by Distribuidora Internacional de Alimentación, S.A. (“DIA” or the “Company”). Nor shall this docum
Slide 3: Index
INDEX 01 Highlights 4 02 Financial review 6 03 Closing remarks and Q&A 16 /3
Slide 4: Highlights
01 Highlights
Slide 5: Highlights
Highlights Very strong sales performance in Q2: +6.8% adjusted EBITDA growth ex- • 9.7% LFL growth (1.7% in Iberia) currency (+0.4% in Euros). • 13.3% sales growth (ex-currency) • Improvement vs Q1 in every country Adjusted EBITDA expansion driven by Emerging Markets in H1 2016. Focus on customer an
Slide 6: Financial review
02 Financial review
Slide 7: H1 2016 Sales
H1 2016 Sales H1 INC INC (EURm) 2016 w/o FX +12.0% gross sales Gross sales under banner 5,038.1 12.0% -1.5% under banner and Iberia 3,342.3 3.4% 3.4% Emerging markets 1,695.8 26.7% -9.8% +8.4% LFL growth. Improving sales Q1 2016 Q2 2016 H1 2016 trend in Q2 2016 in every country. Like-for-Like (1) 7.
Slide 8: H1 2016 Sales
H1 2016 Sales +157.5 +6.0 -687.1 +339.1 Gross sales under (EURm at constant currency) banner in local +106.0 +2.8 5,113.8 currency grew in 5,038.1 every country. 13.4% negative currency effect (12.5% in Q2 2016 vs 14.4% in Q1 2016). H1 2015 Spain Portugal Argentina Brazil China FX effect H1 2016 (1)
Slide 9: H1 2016 P&L
H1 2016 P&L H1 INC INC (EURm) 2016 w/o FX Net sales 4,243.1 10.7% -2.3% FX currency effect of 6.8% 0.4% -13.0% on net sales and Adjusted EBITDA 267.3 -6.4% on adjusted EBITDA. D&A (114.1) 20.0% 11.8% D&A growth due mainly to -1.5% -6.6% Eroski assets acquisition. Adjusted EBIT 153.2 Non-recurring it
Slide 10: Iberia
Iberia H1 INC (EURm) 2016 Positive LFL ex-calendar in Spain and Portugal in a very challenging environment. Gross sales under banner 3,342.3 3.4% Net sales 2,827.3 2.1% Margin dilution at adjusted EBIT level due to Adjusted EBITDA – 229.9 1.4% consolidation of Eroski Adjusted EBITDA margin 8.1% -6 b
Slide 11: LFL ex-calendar effect and cannibalization in Iberia
LFL ex-calendar effect and cannibalization in Iberia 1.2% positive calendar effect in Q2 2016 due to 2.1% Easter seasonality. 0.2% 0.4% Strong performance of Clarel and Portugal. -0.6% Format improvements across the network. -3.4% -4.0% 0.4% estimated -6.0% cannibalisation impact in Q2 2016. Q4 2014
Slide 12: Emerging Markets
Emerging Markets Acceleration of sales in every H1 INC country with positive volumes INC in Argentina and Brazil in Q2 (EURm) 2016 w/o FX 2016 despite very weak consumption environment. Gross sales under banner 1,695.8 26.7% -9.8% 26.7% growth in gross sales Net sales 1,415.9 25.8% -10.0% under bann
Slide 13: Adjusted EBITDA margins
Adjusted EBITDA margins Iberia 8.2% 8.1% Stable margin in Iberia: - Acquisitions + More franchises - Portugal + Buying conditions H1 2015 H1 2016 - New categories and upgraded service Emerging 2.6% 2.5% Sustained improvement of H1 2015 H1 2016 margins in EM. Total DIA 6.3% Improvement due to 6.1% mi
Slide 14: Strong cash-flow generation
Strong cash-flow generation H1 H1 (EURm) 2015 2016 Adjusted EBITDA 266.2 267.3 Taxes paid -27.5 27.2 Net change in trade working capital -92.8 -10.7 Other payables & receivables -93.1 -37.4 Cash-flow from Continuous Operations 52.8 246.5 Financial investments/divestments -10.9 -0.9 Capital expenditu
Slide 15: Full-year 2016 outlook
Full-year 2016 outlook Focus on top line to drive sales: around 10% gross sales under banner growth (at constant currency). Stable adjusted EBITDA margin. Strong cash-flow generation. / 15
Slide 16: Closing remarks and Q&A
03 Closing remarks and Q&A
Slide 17: DIA, a story of consistent growth
DIA, a story of consistent growth # of stores Dia banner franchised stores 7,306 7,718 61% 6,463 52% 54% 40% 44% 4,639 4,933 34% 4,394 2010 2011 2012 2013 2014 2015 2010 2011 2012 2013 2014 2015 Gross sales under banner Adjusted EBTIDA 10,547 284 5,727 266 9,297 9,400 581.4 585.3 610.1 8,765 521.8 7
Slide 18: Closing remarks
Closing remarks Focus on the customer. Focus on top line. Focus on cash-flow generation. / 18
Slide 19: H1 16 Results
§ Dia@Group | ne ti] - nm
Slide 20: Back-up
Back-up
Slide 21: Gross sales & Adjusted EBITDA by segment
Gross sales & Adjusted EBITDA by segment H1 2015 Gross sales under banner H1 2016 Gross sales under banner Iberia 63.2% Iberia 66.3% Emerging Emerging 36.8% 33.7% H1 2015 Adjusted EBITDA H1 2016 Adjusted EBITDA Iberia 85.2% Iberia 86.0% Emerging Emerging 14.8% 14.0% / 21
Slide 22: Growing contribution of DIA banner franchised stores
Growing contribution of DIA banner franchised stores 61% 61% 54% 48% 42% 38% 33% 27% 2009 2010 2011 2012 2013 2014 2015 H1 2016 Reported data / 22
Slide 23: Currency performance
Currency performance Q2 2015 Q3 2015 Q4 2015 FY 2015 Q1 2016 Q2 2016 24.5% 16.6% 17.2% 11.6% 9.7% 6.9% 5.2% EUR/ARS EUR/BRL -3.2% -2.7% EUR/CNY -5.9% -10.0% -14.4% -17.4% -23.0% -24.4% -25.1% -38.5% -38.1% Bloomberg average currency rates (a negative change in exchange rates implies a depreciation v
Slide 24: PARQUE EMPRESARIAL DE LAS ROZAS Jacinto Benavente, 2 A Las Rozas (Madrid) Spain -
PARQUE EMPRESARIAL DE LAS ROZAS Jacinto Benavente, 2 A Las Rozas (Madrid) Spain - Post Code: 28232 +34 91 398 54 00 www.diacorporate.com
Distribuidora Internacional de Alimentación — H1 2016 Earnings Presentation on 6ix