Dr. Martens plc FY21 results presentation
17 giu 2021 INTRODUCTION TO DR. MARTENS. Iconic brand and iconic product. Broad appeal. Consumers love their Docs. Direct to consumer led model.
DR. MARTENS PLC ANNUAL REPORT 2022
31 mag 2022 The first boot was born on 1 April 1960 in Wollaston England
Prospectus - Dr. Martens plc
29 gen 2021 attached prospectus (the "Prospectus") relating to Dr. Martens plc (the "Company") dated 29 January 2021 accessed from this page or.
Dr. Martens plc Annual Report 2021
27 lug 2021 Annual Report 2021 Dr. Martens plc. WHAT WE DO. Dr. Martens is an iconic global brand and one of the most recognised footwear brands in the ...
Dr. Martens plc Sustainability Report
Creating a fairer and more sustainable world is a challenge. But if there's one thing. Dr. Martens is good at it's being brave and standing up for what.
FY22 results presentation
1 giu 2022 Dr. Martens brand is stronger than ever. Confident in year ahead and continued delivery of strategy. Page 4. Page 5. AGENDA.
FIRST HALF RESULTS FY22
9 dic 2021 THIS IS WHERE DR. MARTENS IS HEADING. THIS IS WHAT WE'RE WORKING TOWARDS ... Barnes@drmartens.com. Mobile: +44 7825 187465. Sunena Dhuna.
AND TRANSPARENCY IN THE SUPPLY CHAIN STATEMENT
This statement covers Dr. Martens plc and other group companies and is made pursuant to section 54 of the Modern Slavery Act 2015 and California Transparency in
Dr. Martens plc FY21 results statement
17 giu 2021 Dr. Martens is an iconic British brand founded in 1960 in Northamptonshire. Originally produced for workers looking.
Dr. Martens Modern Slavery and transparency in the supply chain
This statement covers Dr. Martens Airwair Group Ltd. and other group companies. This statement is made pursuant to Section 54 of the Modern Slavery Act 2015 and
Blundstone vs Dr Martens Chelsea Boots Review - Reviewed
Home Dr Martens plc (LSE: DOCS)
What is Dr Martens?
What is Dr. Martens? Docs will forever remain the coolest thing in your closet—even after you've worn them down to their soles. Dr. Martens, commonly d? "Doc Martens" or "Docs," may initially evoke images of 6-inch goth-looking combat boots, but its beginnings are a little more humble.
How versatile is Dr Martens 2976?
The outer sole and heel area, usually wooden on most boots, has the signature Dr. Martens rubber with grooved sides that looks sleek. How Versatile is Dr. Martens 2976? These boots are very versatile. You can wear and pair them with just about anything, which is why I got them.
Are Dr Martens good boots?
– Review Dr. Martens boots are the most common boots I’ve seen worn. You can spot a person wearing docs by the heel tag or famous yellow stitching on the soles. There has been this hype over them for years that I never quite understood. A few months ago, I needed a comfortable pair of versatile boots, one I can easily slip on and slip off.
Does Dr Martens kick against the norm?
Whatever you call them (Doc Martens, Docs, DMs), one thing’s for certain: Dr. Martens kicks against the norm.
17THJUNE 2021
FULL YEAR RESULTS FY21
Introduction ʹKenny Wilson, CEO
AGENDA
Financials ʹJon Mortimore, CFO
Review of the year ʹKenny Wilson, CEO
BRAND CUSTODIAN MINDSET DELIVERING STRONG RESULTS
3INTRODUCTION TO DR. MARTENS
Iconic brand and iconic
productBroad appeal
Consumers love their Docs
Direct to consumer led model,
driven by ecommerce and supported by stores as profitable brand beaconsTrack record of sustainable
and profitable growthSignificant headroom for
global growth 5AGENDA
Financials ʹJon Mortimore, CFO
Review of the year ʹKenny Wilson, CEO
Introduction ʹKenny Wilson, CEO
FINANCIAL OVERVIEW: YEAR ENDED 31 MARCH 2021
7GROUP PERFORMANCE SUMMARY
% change (£M)FY21FY20ActualConstant currencyPairs (m)12.711.114%14%
Revenue773.0672.215%16%
Gross Margin470.5401.517%18%
OPEX(243.4)(217.0)(12%)(13%)
-PLC costs(2.9)---EBITDA1224.2184.522%22%
Gross Margin %60.9%59.7%+1.2 pts
EBITDA Margin %29.0%27.4%+1.6 pts
Adjusted PBT1151.4113.034%
Continued volume-led
growthMargin expansion largely via
accelerated supply chain efficiencies 81 Before exceptionalsof £80.5m related to IPO
REVENUE PERFORMANCE BY CHANNEL
(£M)FY21FY20% changeEcommerce235.4136.473%
Retail99.7165.2(40%)
DTC335.1301.611%
Wholesale*437.9370.618%
Total773.0672.215%
DTC mix43%45%(2 pts)
Ecommerce mix30%20%+10 pts
Own stores135122+13
Wholesale accounts*1,8271,910(83)
Very strong ecommerce
Retail decline due to Covid-
19 restrictions
Quality wholesale growth
and continued to focus on brand enhancing and larger accounts * Including distributors9REVENUE BRIDGE
Volume represents 95% of
revenue growthPrice increase
c. 2.5%DTC 45%
Wholesale
55%DTC 43%
Wholesale
57%Incremental pairs on
FY20 revenue / pair
Pairs (m)
DTC mix
11.145%1.6(2%)
12.7 43%£m 10
GROSS MARGIN BRIDGE
Gross margin up 1.2%pts
Mainly supply chain
efficienciesPrice funds COGS
inflation 401.5470.5
59.7% -+1.1 (0.3) (0.8) +1.0 +0.2 60.9%
Incremental pairs on
FY20 revenue / pair
Inflation c. 2.2%
£m 11SUPPLY CHAIN EFFICIENCIES
FY21FY20
Gross savings (£m)4017
% Revenue5.2%2.6% Supply chain efficiency target achieved a lot earlier than anticipated: mainly due to cross cost comparison between factories, and duty optimisation from country of origin Raw material cost headwinds from SS22 and increasing freight/container costs broadly funded by incremental future savings 12EMEA PERFORMANCE
(£M)FY21FY20% changeRevenue335.6287.917%
EBITDA115.392.425%
EBITDA Margin34.4%32.1%+2.3 pts
Own stores6862+6
Very strong ecommerce, with
retail negativeOpened 9 stores and closed 3
Wholesale* accounts increase,
by 82 accounts to 1,044, due to Nordics conversionFirst full year of direct
operations in Germany * Including distributors13GERMANY CASE STUDY
RATIONALE
Directly control the brand
Implement DOCS strategy
Broaden assortment and range
Own in-market margin
PERFORMANCE
Year of conversion: FY20 (from AW19)
Closed c.200 accounts out of c.500 in first
yearSince added c.50 Amp accounts
Fusion increased to 30% mix
Opened 10 stores
Germany now second-largest market in
EMEARevenue by product category
14FY19FY20FY21
OriginalsFusionOther
Germany
revenue +88% 71%67%
63%
30%
23%
18%
Germany
revenue +56% Stores3 6 10AMERICAS PERFORMANCE
(£M)FY21FY20% changeRevenue295.8252.217%
EBITDA91.975.422%
EBITDA Margin31.1%29.9%+1.2 pts
Own stores3429+5
USA least impacted by
Covid-19 restrictions
Very strong ecommerce,
with retail negativeOpened 6 stores and
closed 1Focus on larger and Amp
wholesale accounts; closed 158 accounts to take total wholesale* accounts to 694 * Including distributors15APAC PERFORMANCE
(£M)FY21FY20% changeRevenue141.6132.17%
EBITDA39.735.512%
EBITDA Margin28.0%26.9%+1.1 pts
Own stores3331+2
Own concessions4952(3)
Franchise stores:
-China8550+35 -Japan3233(1) -Other6156+5Largest market is Japan; this
was most impacted by Covid-19 restrictions
Mainly retail: own stores
and franchise storesSecond-largest market is
China: revenue growth of 46%
Opened net 35 franchise
stores to 85Continue to build
infrastructure to support long-term ambitions 16EARNINGS
(£M)FY21FY20% changeEBITDA3224.2184.522%
Depreciation & amortisation1(35.0)(29.5)(19%)
FX gains/ (losses)3.8(0.5)N/A
Operating profit3193.0154.525%
Finance expense ʹPrefs(28.5)(31.5)10%
ʹOther2(13.1)(10.0)(31%)
Profit before tax3151.4113.034%
Exceptional Items(80.5)(12.0)N/A
Tax expense(35.2)(26.2)N/A
Profit after tax35.774.8(52%)
Diluted EPS -Basic (p)3.67.5(52%)
-Adjusted3(p)11.68.635% -Normalised4Adj.3(p)14.511.823%1 Including depreciation of ROU assets
2Including interest on bank debt,
amortisation of loan issue costs and interest on leases3Excluding exceptionals
4Excluding legacy funding costs of preference
sharesPBT grew 34%
Exceptionalsall IPO related
Cash cost of £27m,
compared to guidance of£30m-£35m
Tax expense 49.6%, mainly non-
deductabilityof preference shares and exceptionalsUnderlying tax 2%pts
higher than UK rate 17OPERATING CASH FLOW AND CAPEX
(£M)FY21FY20EBITDA1224.2184.5
Change in working capital28.5(20.6)
Capex(18.6)(21.9)
Operating cash flow1234.1142.0
% conversion104%77%Capex breakdown (£M)FY21FY20
Stores7.76.8
IT7.99.2
Other3.05.9
Total Capex18.621.9
% revenue2.4%3.3%Very good cash conversion
Timing of inventory
purchases and payment normalisation postCovid-19
Focus on trade debtor
collectionCapex low due to project
deferralsWill return to 3.0% to
3.5% of revenue
181Excluding exceptionals
CASH FLOW BRIDGE
In line with guidance
IPO funds flow
£mNew financing300
Repay ʹbank debt(93)
ʹpreference shares (341)
Exceptionals(27)
Own resources161
Net gearing11.2x
denominated), with £200m working capital facilityFive year bullet, net gearing
covenantInterest cost 2.75%2
Wholesale
55%Wholesale
57%£m 19
1Including IFRS16 leases
2 Variable on EUROBOR plus amortisation of fees of £1.2m p.a.
GUIDANCE
H1 FY22
Increase in operating costs
including c.£5m of discretionary spend which was deferred through FY21Annualisationof Plc and LTIP
costs, c.£5m cost headwind in H1Cash outflow of c.£100m due
to normal seasonal timing of inventory flowquotesdbs_dbs12.pdfusesText_18[PDF] activité brise glace réunion déquipe
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