ODD MOLLY Q4 2016 · 2017-06-28 · •Sales agents Own salesforce + agents + partners ......
Transcript of ODD MOLLY Q4 2016 · 2017-06-28 · •Sales agents Own salesforce + agents + partners ......
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ODD MOLLY Q4 2016Anna Attemark, CEO
Johanna Palm, CFO
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THIS IS ODD MOLLY
Odd Molly is a lifestyle brand with a distinctive style concept
• Founded in 2002
• Sold in more than 40 markets
• Own stores, webstore and wholesale
• Turnover 2016: 423 MSEK
INTRODUCTION
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2016 – ALL TIME HIGH
TURNOVER 2016
(+78 MSEK, + 23%)
MSEK
423MSEK
EBIT 2016
(+12 MSEK, + 97%)
24.5MSEK
-40,0
-20,0
0,0
20,0
40,0
60,0
80,0
0,0
50,0
100,0
150,0
200,0
250,0
300,0
350,0
400,0
450,0
2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016
Sales Operating profit
INTRODUCTION
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THE JOURNEY FROM CLOTHES TO CONCEPT
FROM TO
• Design driven Customer focus
• Ladieswear Lifestyle
• Wholesale only Wholesale + own retail
• Sales agents Own salesforce + agents + partners
• Destination stores High footfall locations
• Traditional retail Omni-channel
• Sweden International expansion
CO
LLE
CTI
ON
DIS
TRIB
UTI
ON
INTRODUCTION
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CREATING A COMMERCIAL LIFESTYLE BRAND
• Commercial and customer focus at affordable prices to increase commercial relevance
• News & Balance
• Right garment in right time
• Steady news flow to increase in-season sales
• New product groups
• Lifestyle concept to broaden the offering and reach new distribution
• High quality delivered through a conscious process
COLLECTION
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…LEADING TO DOUBLE DIGIT GROWTH
• ATH sales in 2016
• New customers
• More loyal customers
• Wider distribution
INTRODUCTION
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2016 IN BRIEF
New store in Malmö, Sweden
FEBRUARY
First store in Norway, on Karl Johans gate in Oslo
MAY
Partner-operated store Vail, Colorado, US
JUNE
Partner-operated store in Bratislava, Slovakia
Pop-up store in Jönköping, Sweden
SEPTEMBER
New store in Malmö, Sweden
Shop-in-shop in El Corté Ingles, Lisbon, Portugal
OCTOBER
Partner-operated store in Aspen, Colorado, US
Shop-in-shop in Houston, Texas, US
NOVEMBER
Shop-in-shop in Aruba
DECEMBER
INTRODUCTION
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FOURTH QUARTER 2016 – CONTINUED GROWTH
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Q4 FINANCIALS IN BRIEF
• Total operating revenue SEK 86.5 million (75.8)
• Gross profit margin 60.0 percent (59.6)
• Operating profit SEK -0,3 million (-2.8), Operating margin -0.3 percent (-3.7)
• Net profit SEK 0.8 million (-2.4)
• EPS SEK 0.14 (-0.42)
SALES GROWTH
+14%
+2.5 MSEK
FINANCIALS
GROWTH IN OPERATING PROFIT
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2016 FINANCIALS IN BRIEF
• Total operating revenue SEK 423.2 million (345.3)
• Gross profit margin 55.6 percent (55.6)
• Operating profit SEK 24.5 million (12.5), Operating margin 5.8 percent (3.6).
• Net profit SEK 17.7 million (9.8)
• EPS SEK 3.08 (1.70)
• Investments SEK 21.8 million (3.4)
• Suggested dividend SEK 1.00 (1.50)
SALES GROWTH
+23%
GROWTH IN OPERATING PROFIT
+97%
FINANCIALS
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WHAT AFFECTS THE GROSS PROFIT?
CURRENCY EFFECTS
–
PURCHASING PRICES
–
PRODUCT MIX
AS THE PROFIT MARGIN INITIALLY
IS LOWER FOR NEW PRODUCTS
–
CHANNEL MIX
AS THE SHARE OF OWN
RETAIL GROWS
+
DISCOUNTS
AS THE MARKET IS INCREASINGLY
DISCOUNT DRIVEN
–
PRICING
AS WE CONSTANTLY
ADJUST AND UPDATE
+
FINANCIALS
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QUARTERLY DEVELOPMENT SINCE 2012
0
50 000
100 000
150 000
Q1 Q2 Q3 Q4
Sales by Quarter
2013 2014 2015 2016
-25 000
-15 000
-5 000
5 000
15 000
25 000
Q1 Q2 Q3 Q4
EBIT per quarter
2013 2014 2015 2016
0
100 000
200 000
300 000
400 000
500 000
Q4-11 Q4-12 Q4-13 Q4-14 Q4-15 Q4-16
LTM sales
-40 000
-20 000
0
20 000
40 000
Q4-11 Q4-12 Q4-13 Q4-14 Q4-15 Q4-16
LTM EBIT
FINANCIALS
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FINANCIAL TARGETS
ANNUAL AVERAGE GROWTHRATE EXCEEDING 20
PERCENT IN COMING YEARS
OPERATING MARGIN OFOVER 12 PERCENT OVER A
BUSINESS CYCLE
EQUITY/ASSET RATIO AT LEAST 40 PERCENT OVER
TIME
20% 12% 40%
23% 5,8% 55%
20
16
FIG
UR
ES
FINANCIALS
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OUR SEGMENTS –RETAIL AND WHOLESALE
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RETAIL
• Shops run by Odd Molly
• Stand-alone stores, shopping malls, shop-in-shops in department stores operated by Odd Molly employees
• Sweden, Norway, Finland
• Web shop
• Sale in some 40 countries
SEGMENTS
46%
54%
Sales
Retail Wholesale
72%
28%
Profit
Retail Wholesale
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WHOLESALE
• Resellers (shops and web shops)
• Some 30 countries
• Shop-in-shops operated by resellers
• Stores operated by partners
SEGMENTS
46%
54%
Sales
Retail Wholesale
72%
28%
Profit
Retail Wholesale
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AN INCREASED SHARE OF RETAIL
Wholesale
2012
LTM as per
Dec 31, 2016
Wholesale
Retail
incl. oddmolly.com
Retail
SEGMENTS
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ODDMOLLY.COM – SUCCESS FACTORS
• Prints, patterns, 3D -style concept suitable for e-commerce
• News - continuous updates and collection releases
• Speed - outsourced technical support for speed and agility
• Continuous investments in social media channels to generate traffic and sales
DISTRIBUTION
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…LEADING TO SIGNIFICANT SHARE OF SALES
• Fastest growing channel
• High profitability
• 3.6 m visitors per year
• 42 markets
SEGMENTS
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SCALABLE STORE CONCEPT
• Odd Molly at our best
• A concept that stands out
• Scalable in various ways
• High footfall locations for increased traffic
SEGMENTS
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…LEADING TO INCREASED BRAND AWARENESS
• 17 (13 own + 4 external) stores opened since 2013
• Profitable stores
• Positive effect on oddmolly.com
SEGMENTS
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FLEXIBLE BUSINESS MODEL
• Customized set-up by market for international expansion and growth
• Adaption to retail landscape where large resellers increase their share• Own sales force in key
focus markets
• Agents in strategic markets
• Local partners for efficient and scalable roll-out of full concept • Central Europe, US, UK
SEGMENTS
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SOLID PLATFORM
COLLECTION STRATEGY –FANTASTIC CUSTOMER
OFFER
FOCUSED EXPANSION –CLEAR CONCEPT THAT IS
SUCCESSFUL IN NEW MARKETS
OMNI-CHANNEL OFFERING – CONCEPT THAT
FITS ALL CHANNELS
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THANK YOU!