First-half 2016 results
|
|
- Deirdre Kennedy
- 6 years ago
- Views:
Transcription
1 First-half 2016 results 06/09/2016
2 Grégoire Gonnord, Chairman Régis Lebrun, Chief Executive Officer Jean-Louis Roy, Senior Vice President Administration and Finance First-half 2016 results 06/09/2016
3 02 Summary Situation and New Strategic Priorities 4 Financial Results 11 Operations and Action Plans 22 Business Segments: French Supermarkets, International, New Food Services Development Paths Page Appendices 54 3
4 Situation and New Strategic Priorities Financial Results Operations and Action Plans 4
5 01 Our business environment DEMANDING... Pressure on margins Price war in French Supermarkets Pig farming crisis Media pressure...but FAVORABLE IN THE LONG-TERM Consumer focus: "eat better", act responsibly Transparency a must Numerous opportunities for innovation/differentiation Growth potential in France and abroad 5
6 What are Fleury Michon's strategic priorities for the future? New strategic challenges require new priorities for action! 6
7 02 Fleury Michon s past challenges and priorities SITUATION OUR PAST PRIORITIES A major brand, but not top-of-mind (2008: Herta no. 1, FM ranked 9th) Looming battle among brands (2008 law on modernisation of the French economy) Food scandals and consumer distrust - brands asked to respond; Fleury Michon and agroindustry put in same basket Digital revolution Win the race to achieve leadership and critical size Make FM the leading brand with a project that was truly responsible and focused on society Strengthen our historic core segments: hams, prepared meals and surimi Explore our potential in services and international markets 7
8 results Revenue multiplied by two in ten years Brand gains new status Gap widens with competitors International Operations: from 10m to 120m in ten years ** * Source: Kantar year-to-date 30 June ** 2015 revenue based on FM's interest
9 04 Fleury Michon s future challenges and priorities A NEW SITUATION NEW PRIORITIES Pressure on margins Customers looking to reinvent themselves Emergence of new technologies Historic opportunity for innovation: "Help People Eat Better!" Focus on profitable, lasting growth Be recognised as the most innovative food company Put an emphasis on high-impact innovations (usefulness for consumers, high growth, profitability, image) Unleash our potential in services and international operations 9
10 05 Keys to success Continue to shift to an even more consumer-focused culture Determine our priority projects for the future Focus our resources for even greater success Adapt our organisation to be increasingly nimble and efficient 10
11 Situation and New Strategic Priorities Financial Results Operations and Action Plans 11
12 01 Revenue in m H H % change French Supermarkets % 21.8 International % +33.9% at constant exchange rates Total International 63.2m +11.4% % Services 29.2 and Other TOTAL % *Joint venture revenue based on Fleury Michon's interest and at constant exchange rates 12
13 02 Fleury Michon brand revenue Revenue in m 119,6 113,1 115,4 110, ,3 123,5 130, , ,7 138,6 139,5 133,2 135,9 143,8 142,2 145, ,1 156,9 151,7 150, , Average year-on-year revenue growth (Q3 to Q2) % 20 0 Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q
14 03 Operating Profit and Margin H H French Supermarkets Operating Profit Other Businesses 15.91m ( 0.54m) French Supermarkets Op Margin 4.7% 13.12m 0.18m French Supermarkets Op Margin 4.0% Operating Profit 15.4m 13.3m Operating Margin 4.1% 3.6% 14
15 04 Net Profit and Margin in m H H Recurring operating profit Operating profit Finance costs, other financial income and expense, net (0.7) 0 Income tax expense (5.9) (3.7) Share in profits (losses) of associates (0.6) (0.7) Net profit Net margin 2.2% 2.4% 15
16 05 Cash Flow H in m Uses Sources Cash flow 24.3 Change in operating working capital (2.6) Net cash provided by operating activities Capital spending Borrowings 15.1 Dividends 5 Securitisation programme* 46.2 Other 0.3 TOTAL Change in cash and cash equivalents Cash and cash equivalents at beginning of period Cash and cash equivalents at end of period * Securitisation programme launched in February 2016 Presented in accordance with French GAAP 16
17 06 Capital Spending m 7.8% in m H TOTAL %* 5.9% 4.7% standard level 4% < > 5% of revenue 3.9% 3.6% *Capital spending as a % of revenue 17
18 07 Key Ratios After-tax ROCE (Return on capital employed) Recurring operating margin after income tax Asset turnover ROE (Return on equity) EPS (Earnings per share) PER (at closing share price on 30 June 2014 = 60.39; 2015 = 57.05) H H % 6.20% 2.3% 2.30% % 4.1% 4.20%
19 08 Debt H H Net financial debt in m GEARING (Net debt/equity) 27.5% 25.3% Net debt/ebitda Free cash flow in m
20 09 Statement of Financial Position +5.2% -3.3% 20
21 10 Conclusion First half ended with a year-on-year decrease in operating profit as revenue held virtually stable. This reflects lower revenue and a narrower operating margin in French Supermarkets. The International and New Food Services segments enjoyed continued growth and wider operating margins. Net margin improved and finance costs (net) came in at zero. Fleury Michon continued to strengthen its financial position and saw an improvement in gearing. 21
22 Situation and New Strategic Priorities Financial Results Operations and Action Plans Business Segments Development Paths 22
23 Situation and New Strategic Priorities Financial Results Operations and Action Plans Business Segments Development Paths 23
24 Operations and Action Plans Business Segments French Supermarkets International New Food Services 24
25 01 French Supermarkets impacted by higher raw material costs and lower consumer prices +6.3% Ham, flank removed consensus Price at Rungis +43.0% Norwegian salmon market price trends in NOK Consumer selling prices: Inflation over 1 yr* All products: -1.20% National brands: -1.73% Fleury Michon has made a conscious choice to raise its prices in a situation of dwindling value *Source IRI, July 2016, FMCG, HMSM 25
26 02 Increasingly costly promotional campaigns* YEAR AFTER YEAR, PROMOTIONS ARE WEIGHING MORE ON PRODUCERS + 5 points in 5 years for producer brands, and the trend is continuing in 2016 Proportion of revenue from heavy promotions (in %) Hypermarket/Supermarket Producer Brands FMCG revenue +1.5% Promotional discounts granted +8% * Source Nielsen
27 03 General trend: Promotions pushed down FMCG brands' revenue in Q PROMOTION TRENDS FOR FAST-MOVING CONSUMER GOODS Change in Fresh Self-Service FMCG revenue in hypermarkets and supermarkets Excluding store promotions Total store promotions Of which flyers Of which displays Full year 2015 Year-to-date P Source: Nielsen Q
28 04 Fleury Michon: Carefully considered promotions Our goal is to achieve profitable, lasting growth and maintain our connection with consumers Enhanced presence for Fleury Michon in flyers (products in flyers up 5.3%): greater visibility among consumers But reasonable promotional discounts Result: Fleury Michon products sold via promotions down by 1,100 metric tons in H vs H But we have strengths in this environment 28
29 05 An effective brand identity Around 1bn in consumer sales Only majority family-owned company Fleury Michon is one of the few players to maintain its market share Fleury Michon stabilises: No. 3 in Top 10 for market share in value, but No. 1 single brand Mkt share in value (and change in bp vs. Y-1) Change in mkt share value (%) Purchase frequency Fresh Self-Service FMCG All channels Q MAT vs Q MAT 29
30 06 An increasingly trusted brand 2009: the 9th most purchased brand 2014: the 4th most purchased brand 2016: the 2 nd most purchased brand! Two indicators of attractiveness: How many households buy a brand and how often (Consumer Reach Points - CRP) 107 Source: Kantar 2016 Brand Footprint expressed in CRP: Number of consumers x Frequency of purchase, in millions 30
31 07 Fleury Michon brand attractiveness For Fleury Michon: +138,000 consumer households, for a10 bp increase in purchases over the past 12 months The only brand among the Top 5 FMCG brands to see an increase in these two indicators And still plenty of room for growth Customer base Purchase frequency in all for Fresh Self-Service FMCG Fresh Self-Service FMCG All channels Q MAT vs Q MAT 31
32 08 Fleury Michon: Steady growth in consumer reach points Increasing CRPs is the key growth driver for Fleury Michon A strategic challenge for the product offering's value added , ,95 0,93 1,01 1, ,02 1,00 0,98 0,96 0,94 0, ,89 0,90 0, MAT QT11 MAT Q212 MAT Q213 MAT Q214 MAT Q215 MAT Q216 CAM 2T11 CAM 2T12 CAM 2T13 CAM 2T14 CAM 2T15 CAM 2T16 Source: Kantar 2016 Brand Footprint expressed in CRP: Number of consumers x Frequency of purchase CRP 0,86 Part Market de marché share valeur in value 100% 100% PGC-FLS Fresh Self-Service FMCG 32
33 Operations and Action Plans Business Segments French Supermarkets International New Food Services 33
34 01 EXPORT (1) -2.9% Continued growth in International Operations Revenue of consolidated subsidiaries 27.9m +28.0% 15.6% CANADA Revenue based on Fleury Michon's interest EXPORT (1) -2.9% SLOVENIA 6.9% 3.8% 63.2m +11.4% NORWAY (4) -56.5% ITALY (2) SLOVENIA 8.8% 75.6% CANADA 33.4% 35.9% (1) Export + Fleury Michon Switzerland 20% (2) Piatti Freschi Italia 50% interest (3) Platos Tradicionales 47.5% interest (4) Fleury Michon Norge now 100% interest SPAIN (3) 34
35 02 Delta Dailyfood Good growth in revenue (up 40.9%), lifted by airline catering and brand sales Wider margins thanks to revenue growth and improved production costs 35
36 03 Piatti Freschi Italia Revenue down 1.1%, good full-year trend 36
37 04 Platos Tradicionales First-half 2016 revenue down 2.9% but good full-year trend Profitability outlook still positive 37
38 05 Proconi Revenue up 6.7% 38
39 Operations and Action Plans Business Segments French Supermarkets International New Food Services 39
40 01 New Food Services Excluding non-strategic businesses 29.2m +7.5% EAT-OUT +6.8% 38.9% Good performance across the portfolio Favourable growth in meal solutions for healthcare facilities Firm results from airline catering 14.3% 46.8% CATERING +9.8% ROOM SAVEURS +7.5% 40
41 02 Room Saveurs Robust revenue growth, margins still at a good level 41
42 Situation and New Strategic Priorities Financial Results Operations and Action Plans Business Segments Development Paths 42
43 01 Priority actions OUR PRIORITIES Focus on profitable, lasting growth Be recognised as the most innovative food company Put an emphasis on high-impact innovations (usefulness for consumers, high growth, profitability, image) Create sustainable, differentiating competitive advantage that gives Fleury Michon an exclusive product offering Unleash our potential in services and international operations (43)
44 02 Development paths - method Become the benchmark player in high demand, high value-added food segments (product offering) Be as close to consumers as possible (distribution channels) Work actively with French Supermarkets to reinvent the model together Shift from communicating towards consumers to creating a relationship with them Adopt a flexible method and organisation, adapted to these objectives 44
45 03 Changing consumer patterns Multiple behaviours depending on: The time The place High expectations for well-being, a clearly-signalled desire to consume better and responsibly Consumers want to make enlightened choices on the product experience offered to them Consumers are attentive to corporate responsibility and develop special ties with companies; they voice their opinions to make brands change The focus of the offering needs to shift from the product to the "brand experience" 45
46 04 Priority in product innovation: Develop value added Health Well-being An offering that makes me feel good Organic Quality channels A responsible offierng Healthy snacking Healthy delivered meals and buffets An offering that is available at the right time 46
47 05 Health and nutrition Healthy products - Carefully controlled additives Kept to a strict minimum In the smallest possible proportions (e.g., nitrates, palm oil, sodium glutamate, phosphates, etc.) - Clear consumer information (what people need to know, not pedantic) 47 - Involvement in sourcing channels
48 06 Seek out consumers where they are Convenience stores E-commerce 43% of growth in FMCG - purchasing outlets where I live Supermarkets Work together to invent tomorrow's categories and aisles Eat-out Heathcare institutions Airline catering Wherever consumers are 48
49 07 Organise aisles with the consumer in mind (rather than professionals) Consumers organise their shopping based on their own buying criteria Store aisles are still organised on the basis of industrial or supply chain considerations Store aisles and product categories have not changed much since the 1990s Think of ways to display products that are aligned with consumers' perceptions and various expectations 49
50 08 How we will organise differently in the future Strategic direction Ensure that all our projects are aligned with our Company Project -> go from an organisation by market to an organisation by projects Objectives Less hierarchy Greater autonomy, broader areas of responsibility Faster implementation at the operating level Same amount of resources, but allocated more effectively 50
51 09 To sum up A period of transformation Reflecting our constantly changing lifestyles Rooted in Fleury Michon's corporate culture Strengths to implement this change And a strategy focused on product quality, customer intimacy and consumer satisfaction 51
52 In conclusion (52)
53 : Pivoting to new priorities Our past priorities Win the race to achieve leadership and critical size Make FM the leading brand with a project that was truly responsible and focused on society Strengthen our historic core segments: hams, prepared meals and surimi Explore our potential in services and international markets Our new priorities Focus on profitable, lasting growth Be recognised as the most innovative food company Put an emphasis on high-impact innovations (usefulness for consumers, high growth, profitability, image) Unleash our potential in services and international operations Priorities that are an obvious fit An ideal position for achieving our objectives 53
54 APPENDICES First-half 2016 results 05/09/
55 02 Pork Hams Market 5.0% (-11.40%) 2.4% (+12.0%) 4.6% (+17.3%) 21.6% (-2.2%) 1,537m -0.9% Fleury Michon Herta Private Labels MADRANGE Lowest Price Other 48.20% (-1.4%) 18.3% (+0.0%) Moving annual total Supermarkets + Hard Discount - Source: IRI 12 June
56 02 Poultry Cuts 4.6% (-3.2%) 8.9% (+16.3%) Market 356m +2.4% Fleury Michon Herta Private Labels Lowest Price Other 37.9% (-2.5%) 5.2% (+23.8%) 43.4% (+3.6%) Moving annual total Supermarkets + Hard Discount - Source: IRI 12 June
57 Ready-to-Eat Charcuterie 3.7% (-8.1%) 9.0% (+1.6%) Market 389m +0.2% Fleury Michon Petigas Private Label Lowest Price Other 36.1% (-3.8%) 42.3% (+3.6%) 5.3% (+5.3%) Moving annual total Supermarkets + Hard Discount - Source: IRI 12 June
58 02 Individual Prepared Meals 15.4% (+13.5%) 31.1% (-0.7%) 28.6% (-3.1%) 8.7% (+17.0%) 16.2% (+10.6%) Market 474m +3.7% Fleury Michon Marie WW Private Labels Other Moving annual total Supermarkets + Hard Discount - Source: IRI 12 June
59 02 Surimi 5.9% (-9.7%) 3.9% (-7.5%) 27.5% (-3.2%) Market 280m -2.9% Fleury Michon Coraya Private Labels Lowest Price Other 42.1% (-5.2%) 20.7% (+6.0%) Moving annual total Supermarkets + Hard Discount - Source: IRI 12 June
60 First-half 2016 results 06/09/2016
Join us! And help people eat better every day
Join us! And help people eat better every day THE COMPANY Eating Better starts with you PART 1 APRIL 2016 TOME 1 AVRIL 2016 L ENTREPRISE TOME 2 MAI 2016 AVRIL 2016 AVRIL 2016 THE COMPANY P. 01 - The Selfie
More information2015 Annual Results. Innovation Integration Growth
2015 Annual Results Innovation Integration Growth March 2016 Disclaimer This presentation and the accompanying slides (the Presentation ) have been prepared by WH Group Limited ("WH Group " or the "Company")
More informationNestlé Investor Seminar 2014
Nestlé Investor Seminar 2014 Nestlé in the USA Paul Grimwood Chairman & CEO Nestlé USA June 3 rd & 4 th, Liberty Hotel, Boston, USA Disclaimer This presentation contains forward looking statements which
More informationUnilever - CAGNY. Graeme Pitkethly / Richard Williams 22 nd February 2018
Unilever - CAGNY Graeme Pitkethly / Richard Williams 22 nd February 2018 Richard Williams SAFE HARBOUR STATEMENT This announcement contains forward-looking statements, including 'forward-looking statements'
More informationMorgan Stanley Conference. November 15, 2017
Morgan Stanley Conference November 15, 2017 1 Forward Looking Statements Certain statements in this release or presentation, other than purely historical information, including estimates, projections,
More informationOur unique, sustainable attributes
Investor overview At Texas Instruments, our focus is on building a better future as we design, make and sell semiconductors. We have about 100,000 customers all over the world who use our chips. For more
More informationMarine Harvest Intrafish Seafood Investor Forum, New York. 28 May 2015
Marine Harvest Intrafish Seafood Investor Forum, New York 28 May 2015 Forward looking statements This presentation may be deemed to include forward-looking statements, such as key determinants for future
More informationCreating a Service Vision. Molly VandenHeuvel Sr. Director Customer Value Stream Kraft Foods
Creating a Service Vision Molly VandenHeuvel Sr. Director Customer Value Stream Kraft Foods Kraft Overview 98% Household Penetration in North America #1 or #2 Position in 17 Top Categories (80% of Sales)
More informationChristine Skold. Vice President, Investor Relations and Corporate Communications
Christine Skold Vice President, Investor Relations and Corporate Communications 2 Safe Harbor Statement The Company claims the protection of the safe-harbor for forward-looking statements contained in
More informationJoint Value Creation. How Retailers and Manufacturers use Customers Insights to Capture Value. Shopper Momentum Naples, FL November 10 th 2010
Metro and Roland Berger Shopper Momentum 2010 presentation_ FINAL Joint Value Creation How Retailers and Manufacturers use Customers Insights to Capture Value Shopper Momentum 2010 Naples, FL November
More informationBemis Company, Inc. KeyBanc Capital Markets Basic Materials & Packaging Conference
Bemis Company, Inc. KeyBanc Capital Markets Basic Materials & Packaging Conference September 14, 2011 Safe Harbor Statement This presentation includes forward-looking statements within the meaning of the
More informationOur progress in Creating a more delicious world
Our progress in 2011 Creating a more delicious world Message from Our Chairman and Chief Executive Officer 2011 was another challenging year. Economic turmoil. Political upheaval. Natural disasters. The
More informationSHOPPER TRENDS SAMPLE REPORT. Nielsen Shopper Practice Year:
SHOPPER TRENDS SAMPLE REPORT Nielsen Shopper Practice Year:2013-14 INTRODUCING SHOPPER TRENDS Shopper Trends provides a comprehensive overview of the grocery retail environment trends, banner equity tracking
More informationP2 Performance Management
Performance Pillar P2 Performance Management Examiner s Answers SECTION A Answer to Question One (a) (i) One of the reasons why the chart does not provide a useful summary of the budget data is inherent
More informationGLOSSARY OF TERMS ENTREPRENEURSHIP AND BUSINESS INNOVATION
Accounts Payable - short term debts incurred as the result of day-to-day operations. Accounts Receivable - monies due to your enterprise as the result of day-to-day operations. Accrual Based Accounting
More informationAIBI Bread Market Report July 2013
AIBI Bread Market Report 2012 July 2013 ASSOCIATION INTERN ATIONALE DE LA BOULANGERIE INDUSTRIELLE - AISBL INTERNATIONAL ASSOCIATION OF PLANT BAKERS AISBL GRAND PLACE 10 B-1000 BRUXELLES TEL.: +0032-2-361
More informationACTIONABLE INSIGHT FOR RETAIL AND CPG PRICING ANALYTICS, CUSTOMER BEHAVIOUR
ACTIONABLE INSIGHT FOR RETAIL AND CPG PRICING ANALYTICS, CUSTOMER BEHAVIOUR Marketing Optimisation Marketing Automation Personalised Experience PLAN BUY MOVE SELL Cross Channel CUSTOMER Retail Customer
More informationWhat Drives Dairy Purchases at Retail Today and Tomorrow? Elite Producer Business Conference November 9, 2010
What Drives Dairy Purchases at Retail Today and Tomorrow? Elite Producer Business Conference November 9, 2010 Session Goals I. Provide an overview of the current shopper and retail environment II. Demonstrate
More informationPRIVATE BRANDS: A NEW TERMINOLOGY
George Faigen Tanja Ebner Private Brands LOW PRICE ALTERNATIVE OR STRATEGIC ASSET? Private brands are evolving beyond the traditional role of acting as generic entry-price options, and are becoming major
More informationWORLD LEADER in processed vegetables
WORLD LEADER in processed vegetables March 2011 2010/2011 1 ST Half-Year Results Projects Prospects 1 HISTORY From a regional French distillery in 1853...... to the world leader in processed vegetables
More informationSHRINK TO GROW USE ANALYTICS AND TECHNOLOGY TO OPTIMISE YOUR LINE-UP
SHRINK TO GROW USE ANALYTICS AND TECHNOLOGY TO OPTIMISE YOUR LINE-UP Brenda Koornneef Business Executive, Group Marketing & Corporate Strategy, Tiger Brands José Carlos González-Hurtado President of IRI
More informationFACTS ABOUT THE AUSTRALIAN RETAIL FUELS MARKET & PRICES
FACTS ABOUT THE AUSTRALIAN RETAIL FUELS MARKET & PRICES RETAIL PRICES & INFLUENCES The most important influences on retail fuel prices in Australia are: the international price of refined fuel the exchange
More informationGrupa Azoty today BROAD PRODUCT PORTFOLIO TOP EU PRODUCER LEADER AT HOME
2 Grupa Azoty today BROAD PRODUCT PORTFOLIO LEADER AT HOME TOP EU PRODUCER Grupa Azoty's core business lines: Agro Fertilizers, Plastics OXO Titanium white Melamine Specialty low-tonnage products Our products
More informationLowe s 2016 Investor Meeting: Never Stop Improving
Lowe s 2016 Investor Meeting: Never Stop Improving 1) Lowe s held an investor meeting on December 7, two years after its last investor meeting. The major themes of the meeting were steady evolution to
More informationCUSTOMER RELATIONSHIP MANAGEMENT CONCEPTS AND TECHNOLOGIES
CUSTOMER RELATIONSHIP MANAGEMENT CONCEPTS AND TECHNOLOGIES Managing the customer lifecycle customer retention and development Three stages of the customer lifecycle 1. Customer acquisition 2. Customer
More informationCompany Overview. November 2017
Company Overview November 2017 DCC Overview DCC is a leading international sales, marketing and support services group operating across four divisions Profit by division * Profit by geography * 12% 5%
More informationTable of Contents. Introduction: Leading & Sustainable Retailing NSLC Strategic Planning Approach... 2
F i v e - y e a r s t r a t e g i c p l a n 2 0 1 0 2 0 1 5 Table of Contents Introduction: Leading & Sustainable Retailing... 1 NSLC Strategic Planning Approach... 2 Key Trends as Drivers for Change...
More informationLovable Lingerie Ltd. - IPO Note
Lovable Lingerie Ltd. - IPO Note Issue Details Issue Date March 08, 2011 March 11, 2011 Issue Size Rs.887-933mn Price Band Rs.195-205 FV Rs.10 Fresh Issue 4.55 mn equity shares QIB 50 % Non Institutional/HNIs
More informationLongo s Ecommerce Overview. April 2015
Longo s Ecommerce Overview April 2015 US IS THE MOST CONNECTED AND WIRED COUNTRY IN THE WORLD 1 st in time spent online 280M internet users spend 43 hours online each month Source: Comscore, March 2013
More informationWHY YOU SHOULDN T IGNORE COUPON SITES
WHY YOU SHOULDN T IGNORE COUPON SITES A white paper exploring how coupon sites impact the consumer purchase journey CJ Insights 2013 CJ Affiliate by Conversant Table Of Contents Overview 2 Key Findings
More informationLassila & Tikanoja plc Corporate Presentation February Copyright Lassila & Tikanoja
Lassila & Tikanoja plc Corporate Presentation February 2011 0 Contents General information L&T in brief Divisions Shareholders Financial information Highlights of the year 2010 and Q4 Prospects 1 L&T s
More informationCONTENTS A COMMITMENT TO NATURALNESS MILESTONES IN GROWTH. Page 04 ORGANISATION AND STRATEGY. Page 12 OUR COMMITMENTS. Page 18 HIGHLIGHTS
Annual Report 20 08 CONTENTS 2008 A COMMITMENT TO NATURALNESS Beginning of operations in Slovenia with Proconi 20 th anniversary of our partnership with Joël Robuchon Acquisition of Delta Dailyfood Canada
More informationWhite Paper. Demand Signal Analytics: The Next Big Innovation in Demand Forecasting
White Paper Demand Signal Analytics: The Next Big Innovation in Demand Forecasting Contents Introduction... 1 What Are Demand Signal Repositories?... 1 Benefits of DSRs Complemented by DSA...2 What Are
More informationStrategy Profitable Growth for Vestas
Strategy Profitable Growth for Vestas 011 Industry dynamics 013 The strategic direction remains unchanged 013 The four key pillars in Vestas strategy 015 Financial and capital structure targets and priorities
More informationUpdate on Strategy and Market Segments Felix Frank Vice President, AutoScout24
AutoScout24 Update on Strategy and Market Segments Felix Frank Vice President, AutoScout24 Christian Gisy CFO, Scout24 AG Scout24 Capital Markets Day, November 2017 We are the Largest EU Automotive Digital
More informationInternational Marketing Management. Topic 6. Branding Strategy and international product policy
International Marketing Management Topic 6. Branding Strategy and international product policy Trademark. A Trademark (Brand) is a name, term, sign, symbol, or any other feature that has the purpose of
More informationInnovation and Trends in Consumer Marketing in Europe
Innovation and Trends in Consumer Marketing in Europe Karen Hamann The Institute for Food Studies & Agroindustrial Development IFAU, Enghave 4, DK 2960 Rungsted Kyst, DENMARK www.ifau.dk Email: karen@ifau.dk
More informationGood afternoon, welcome to our annual shareholder meeting. I am Lee Rudow, President and CEO of Transcat and I will provide an overview of the
1 Good afternoon, welcome to our annual shareholder meeting. I am Lee Rudow, President and CEO of Transcat and I will provide an overview of the current state of Transcat an our direction for FY17 and
More informationSummary Sanoma in transformation. Capital Markets Day 2012 Harri-Pekka Kaukonen President and CEO
Summary Sanoma in transformation Capital Markets Day 2012 Harri-Pekka Kaukonen President and CEO Managing the digital transformation Drive performance of current business Multi-platform and digital growth
More informationHierarchy of Marketing Metrics: Measuring Success Like a CFO
Hierarchy of Marketing Metrics: Measuring Success Like a CFO Kathleen Schaub, Vice President, CMO Advisory & Customer Experience IDC Web Conference 7 September 2017 The Bad News: Marketing ROI is an Incredible
More informationRoss Stores, Inc. Investor Overview November 2017
Ross Stores, Inc. Investor Overview Disclosure of Risk Factors Forward-Looking Statements: This presentation contains forward-looking statements regarding expected sales, earnings levels, and other financial
More informationDIGITALIZATION IS NOT GOING DIGITAL THE CHALLENGE FOR RETAIL BANKS
DIGITALIZATION IS NOT GOING DIGITAL THE CHALLENGE FOR RETAIL BANKS FINANCIAL FORUM INNOVATIONS Sofia June 2016 1 TWO TRENDS ARE CONVERGING WHICH PRESENT BANKS WITH BOTH CHALLENGE AND OPPORTUNITY 1? Banks
More informationTopic 5 External Factors. Higher Business Management
Topic 5 External Factors Higher Business Management 1 Learning Intentions / Success Criteria Learning Intentions External factors Success Criteria Learners should be aware of the impact that external factors
More informationRAMBOLL FOUNDATION 2016 LONG TERM PRIORITIES AND AIMS
RAMBOLL FOUNDATION 2016 LONG TERM PRIORITIES AND AIMS 2 Intended for The Group Board of Directors Document type The Foundation s Direction and Stewardship Memorandum Date 06 April 2016 Purpose This document
More informationA Case Study-Based Report on Digital Marketing of Tesco
A Case Study-Based Report on Digital Marketing of Tesco Table of Content Sr. No. Titles Page Nos. 1 Introduction Page 2 2 Discussion Page 2 3 Digital Marketing Strategies for Tesco Page 3,4 4 Analysis
More informationKEY CONSIDERATIONS FOR EXAMINING CHANNEL PARTNER LOYALTY AN ICLP RESEARCH STUDY IN ASSOCIATION WITH CHANNEL FOCUS BAPTIE & COMPANY
KEY CONSIDERATIONS FOR EXAMINING CHANNEL PARTNER LOYALTY AN ICLP RESEARCH STUDY IN ASSOCIATION WITH CHANNEL FOCUS BAPTIE & COMPANY NOVEMBER 2014 Executive summary The changing landscape During this time
More informationAcquisition of Amplify Snack Brands, Inc. December 18, 2017
Acquisition of Amplify Snack Brands, Inc. December 18, 2017 1 FORWARD LOOKING STATEMENTS This presentation contains forward-looking statements. Many of these forward-looking statements can be identified
More informationFor personal use only
ASX ANNOUNCEMENT Bega Cheese to acquire one of Australia s most iconic food brands Bega Cheese Limited (Bega Cheese or the Company) announced today it has agreed to buy most of Mondelēz International s
More informationForward-Looking Statements. Strong Business Model and Strategy. Earnings per Share. Sales ($ Millions) Sustainable and Dependable Performance
2 Forward-Looking Statements This presentation contains, or incorporates by reference, forward-looking statements with projections concerning, among other things, the Company s strategy, and the Company
More informationSecurities Analyst Meeting 2017 PRINTING. Enrique Lores President, Imaging and Printing Business
Securities Analyst Meeting 2017 PRINTING Enrique Lores President, Imaging and Printing Business Forward-looking statements Today s presentations contain forward-looking statements that involve risks, uncertainties
More information2009 Full Year Results. September, 2009
2009 Full Year Results September, 2009 Doug Rathbone Managing Director 2009 Full Year results A challenging year Glyphosate profit impact was substantial Credit related pressures in Brazil Non-glyphosate
More informationAre you Fit for Funding
SERVICE OVERVIEW Are you Fit for Funding Helping companies be better prepared to borrow from banks. Delivering Transformation. Together. Contents What makes a company more attractive to a bank? 3 1. Accurate,
More informationAgenda. Introduction LCP Consulting Background the challenges facing retail boards Omni-channel development The Omni-channel toolkit Questions
Agenda Introduction LCP Consulting Background the challenges facing retail boards Omni-channel development The Omni-channel toolkit Questions 2 Introduction LCP is a leading independent consultancy specialising
More informationMAZARS 2017 Food & Beverage Industry Study Results Report
MAZARS 2017 Food & Beverage Industry Study Results Report WWW.MAZARSUSA.COM MAZARS USA LLP IS AN INDEPENDENT MEMBER FIRM OF MAZARS GROUP. ABOUT THE MAZARS USA FOOD & BEVERAGE INDUSTRY STUDY The Mazars
More informationUnlocking Philips full potential
EPG Conference Unlocking Philips full potential Frans van Houten, CEO May 20, 2014 Important information Forward-looking statements This document and the related oral presentation, including responses
More informationRoyal Philips Electronics. Pierre-Jean Sivignon Executive Vice President & Chief Financial Officer
Royal Philips Electronics Pierre-Jean Sivignon Executive Vice President & Chief Financial Officer Forward Looking Statements Forward Looking Statements This document contains certain forward-looking statements
More informationMerging Mitel Networks and Aastra Technologies FAQs for Customers
Merging Mitel Networks and Aastra Technologies FAQs for Customers Why has Mitel decided to pursue this merger? We believe there are a number of compelling immediate and long-term benefits for the combined
More informationChapter 2 Market analysis
Chapter 2 Market analysis Market analysis is concerned with collecting and interpreting data about customers and the market so that businesses adopt a relevant marketing strategy. Businesses carry out
More informationTo unleash LeasePlan s potential in an exciting and dynamic market, we have defined a three-year strategic plan. Our strategic plan has three goals:
26 LeasePlan annual report 2016 What s next? 2017-2020 Our strategy To unleash LeasePlan s potential in an exciting and dynamic market, we have defined a three-year strategic plan. Our strategic plan has
More information62 63 s y 6. Ke figure
62 63 6. Key figures 6 Orange integrated 2016 annual report Become and remain No. 1 in Net Promoter Score for 3 out of 4 customers by 2018 Improve Orange s Brand Power Index in our different markets by
More informationHGL Limited. For personal use only. Annual General Meeting 16 February Computershare Offices 60 Carrington Street, Sydney
HGL Limited Annual General Meeting 16 February 2017 Computershare Offices 60 Carrington Street, Sydney CEO Presentation Henrik Thorup 16 February 2017 AGENDA CORPORATE HIGHLIGHTS GPS STRATEGY PLAN FY16
More informationAnatomy of a firm. Strategic Plan write-up and implementation. Role of systems. Strategy process
Anatomy of a firm Strategic Plan write-up and Al Lee tangible Policies Legal docs Capabilities Resources People Will Vision Enterprise intangible Direction Goal Reason for being Structure Systems Sub-systems
More informationFedEx Corp. Reports First Quarter Earnings FedEx Express Announces 2010 Rate Increase
1 FOR IMMEDIATE RELEASE FedEx Corp. Reports First Quarter Earnings FedEx Express Announces 2010 Rate Increase MEMPHIS, Tenn., September 17, 2009... FedEx Corp. (NYSE: FDX) today reported earnings of $0.58
More informationChapter 4: Internal Assessment
Chapter 4: Internal Assessment 1 Comprehensive Strategic Management Model External Audit Chapter 3 Vision & Mission Statements Chapter 2 Long-Term Objectives Chapter 5 Generate, Evaluate, Select Strategies
More informationAEC Reimagined. Avanade Digital Connected Services with Microsoft Dynamics 365. For Architecture, Engineering and Construction Firms
AEC Reimagined Avanade Digital Connected Services with Microsoft Dynamics 365 For Architecture, Engineering and Construction Firms Everything is new Digital transformation is changing the AEC industry.
More informationSelling Through Retail in the Age of the Digital Consumer
Selling Through Retail in the Age of the Digital Consumer Keith Henry VP, Global Industry for Manufacturing keith.henry@teradata.com Discussion Topics for this Presentation The CPG World Today > Massive
More informationThe Social Marketer vs. the Social Enterprise Social media in financial institutions is in transition.
DECEMBER 2014 THE STATE OF Social Media in Financial Services The Social Marketer vs. the Social Enterprise Social media in financial institutions is in transition. Although social media is largely perceived
More informationThe Avocado Market: A Growth Market In a Mature Food Industry
The Avocado Market: A Growth Market In a Mature Food Industry Dr. Roberta Cook Dept. of Ag and Resource Economics UC Davis For the Avocado Brainstorming Session October 2003 US Avocado Production and Imports
More informationADLER Modemärkte Equity Story
ADLER Modemärkte Equity Story November 2017 1 Investment Summary: ADLER Modemärkte is well positioned to face short-term challenges and lift mid- to long-term potentials Growing target group Assets Very
More informationRating criteria for the fast-moving consumer goods industry. February 2018
Rating criteria for the fast-moving consumer goods industry February 2018 Criteria contacts Pawan Agrawal Chief Analytical Officer CRISIL Ratings Email: pawan.agrawal@crisil.com Somasekhar Vemuri Senior
More information2017 AGM ADDRESS TO SHAREHOLDERS
24 October 2017 Market Announcements Office Australian Stock Exchange Dear Sir/Madam 2017 AGM ADDRESS TO SHAREHOLDERS The Company will address shareholders today at its Annual General Meeting (AGM) commencing
More informationTHREE-YEAR STRATEGIC PLAN UPDATE v1
THREE-YEAR STRATEGIC PLAN UPDATE v1 FY2017-FY2019 OUR STRATEGY To develop future professionals through relevant and accessible credentialing programs 100% Member Market Penetration To deliver member value
More informationAxway H Results. Christophe Fabre, Chief Executive Officer 02 August 2012
Axway H1 2012 Results Christophe Fabre, Chief Executive Officer 02 August 2012 Forward looking statements This document contains forecasts in respect of which there are risks and uncertainties concerning
More informationRoyal Philips Electronics. Alan Cathcart Senior Vice President
Royal Philips Electronics Alan Cathcart Senior Vice President Forward Looking Statements Forward Looking Statements This document contains certain forward-looking statements with respect to the financial
More informationMAINTAINING TRUST AMID SHIFTING CONSUMER DEMANDS
MAINTAINING TRUST AMID SHIFTING CONSUMER DEMANDS ACCENTURE FINANCIAL SERVICES 2017 GLOBAL DISTRIBUTION & MARKETING CONSUMER STUDY: INVESTMENT ADVICE REPORT SHIFTING CONSUMER TRENDS CREATE NEW OPPORTUNITY
More informationLeveraging Patron Loyalty to Increase Sales, Donations & Public Perception by Margaret Williams & Dale Hedding
Leveraging Patron Loyalty to Increase Sales, Donations & Public Perception by Margaret Williams & Dale Hedding In recent years, the phrase "patron loyalty" has become a hot topic across the arts and culture
More informationSecure your business
Secure your business 2005 2006 2007 2008 Balance sheet total (m e u r ) 764 843 824 751 Net debt (m e u r ) 124 210 192 171 Equity ratio (%) 57 51 50 52 EBITDA (m e u r ) 74 114 91 85 Gross investiments
More informationCOMPANY OVERVIEW JOHN MORIKIS CHAIRMAN, PRESIDENT & CHIEF EXECUTIVE OFFICER FINANCIAL COMMUNITY PRESENTATION OCTOBER 3, 2017
COMPANY OVERVIEW JOHN MORIKIS CHAIRMAN, PRESIDENT & CHIEF EXECUTIVE OFFICER Forward Looking Statement The presentations today will contain certain forward looking statements," as defined under U.S. federal
More informationMillennials and wealth management Trends and challenges of the new clientele
Millennials and wealth management Trends and challenges of the new clientele Dr. Daniel Kobler Partner Head of Banking Strategy Consulting Deloitte Felix Hauber Senior Manager Banking Strategy Consulting
More informationPrivate Label in Western Economies
Private Label in Western Economies Losing share IRI Special Report Tim Eales Director of Strategic Insight, IRI June 2016 Key Findings In 2015 private label value market share in Europe fell by 0.6 points
More informationInvestors Day. Mittelstand Bank: An increasing source of profit
Investors Day Mittelstand Bank: An increasing source of profit Frankfurt, 14.09.2005 Martin Blessing Good start H1 2005 results 1. 2. 3. 4. Agenda 1. 2. 3. 4. Good start for the new Mittelstand Bank segment
More informationMobilizing our strengths to build foundations for a strong future
A Conversation with Our CEO Mobilizing our strengths to build foundations for a strong future Zenji Miura President and CEO 09 Ricoh Group Sustainability Report 06 VALUE CREATION 20 BUSINESS STRATEGY 32
More informationOMAN REFRESHMENT COMPANY SAOG. Management Discussion and Analysis Report 2015
Management Discussion and Analysis Report 2015 Business activities of the Company Oman Refreshment Company SAOG ( ORC/the Company ) is engaged in the business of filling and distribution of soft drinks,
More informationThe Next Steps in Digital Transformation How small and midsize companies are applying technology to meet key business goals
The Next Steps in Digital Transformation How small and midsize companies are applying technology to meet key business goals January 2017 The Next Steps in Digital Transformation: Outline Outline» Introduction,
More informationThe Changing Marketing Environment 2-1
The Changing Marketing Environment 2-1 Chapter Goals To gain an understanding of: The concept of environmental scanning. How external forces influence a firm s marketing program: Demography, economics,
More informationSee Your Consumers in High Definition
See Your Consumers in High Definition www.kantarworldpanel.com OUR ASPIRATION IS TO KNOW MORE THAN ANYONE ABOUT WHEN, WHERE, WHAT AND WHY PEOPLE BUY AND USE For further information about Kantar Worldpanel
More informationBusiness plan of the Mercator Group and the company Poslovni sistem Mercator, d.d., for the year 2018
Business plan of the Mercator Group and the company Poslovni sistem Mercator, d.d., for the year 2018 Ljubljana, December 2017 TABLE OF CONTENTS EXECUTIVE SUMMARY... 1 MERCATOR GROUP COMPOSITION... 2 EFFECT
More informationTechnology Consulting Analytics solutions for manufacturing and industrial products
www.pwc.in Technology Consulting Analytics solutions for manufacturing and industrial products Overview Technological and digital innovations are transforming the manufacturing and industrial products
More informationKNOW YOUR CONSUMER, GROW YOUR BUSINESS.
KNOW YOUR CONSUMER, GROW YOUR BUSINESS. In today s world, consumers are more in control than ever before. They can choose when, where and how they consume information and interact with media and brands.
More informationCapital Markets Day 2016 Commercial Transformation growing faster than the market through differentiation. Gérard Kuperfarb, Growth & Innovation
Capital Markets Day 2016 Commercial Transformation growing faster than the market through differentiation Gérard Kuperfarb, Growth & Innovation Commercial Excellence through differentiation, commercial
More informationInvestor. Presentation. March 2017
Investor Presentation March 2017 Table of contents Company profile Market overview Strategic Guidelines Financial Review Closing Remarks 2 COMPANY PROFILE 3 COMPANY PROFILE Green Network today Founded
More informationTikkurila distribution Tikkurila Analyst Day on August 15, Janno Paju, Chief Commercial Officer
Tikkurila distribution Tikkurila Analyst Day on August 15, 2013 Janno Paju, Chief Commercial Officer Sustainable beauty since 1862 August 15, 2013 Key success factors in paint business: 1.Brands 2.Distribution
More informationYou should know that the presentation you are about to hear contains forward looking statements.
1 2 You should know that the presentation you are about to hear contains forward looking statements. As you will note on this slide, these statements are made based on management s knowledge and understanding
More informationHerman Miller, Inc. First Quarter Fiscal 2018 Investor Conference Call September 21, 2017
Herman Miller, Inc. First Quarter Fiscal 2018 Investor Conference Call September 21, 2017 The following document is a replication of the notes used in Herman Miller, Inc. s First Quarter Fiscal 2018 conference
More informationCRIF DECISION SOLUTIONS - EURISKO CREDIT CARD SURVEY
CRIF DECISION SOLUTIONS - EURISKO CREDIT CARD SURVEY September 2003 CONTENTS SURVEY INTRODUCTION...page 1 EXECUTIVE SUMMARY... 3 Chapter 1 MARKET CONTEXT AND EVOLUTION...7 1.1 Reference scenarios...7 1.2
More informationAdvertising spending
Advertising spending Where is the ROI? Presented by: Anne- Marie Roerink 210 Analytics Kirk Clark Mitchell Grocery Neal Leonhardt Brookshire Grocery Tom O Reilly Aptaris 1 Advertising & Promotional Practices
More informationBuilding a Better Consumer and Customer Insight Capability. Nicola Pianon Senior Partner e Managing Director
Building a Better Consumer and Customer Insight Capability Nicola Pianon Senior Partner e Managing Director Unprecedented & accelerating pace of change Years to achieve one billion users (from launch)
More informationStrategy Update. André Lacroix Chief Executive Officer. Portfolio Focus on Attractive Growth and Margin Opportunities. 2 March
Strategy Update Portfolio Focus on Attractive Growth and Margin Opportunities André Lacroix Chief Executive Officer 2 March 2016 www.intertek.com Disclaimer This presentation contains certain forward-looking
More informationGfK Consumer Reporter Issue 02/2017
Consumer Reporter Issue 02/2017 Consumer Panel Czech & Slovak Republic would like to bring you insights into current consumer behaviour in our markets regularly through unique key facts of Consumer Panel.
More informationBeyond the Label. Providing Digital Information Consumers Can Trust
Beyond the Label Providing Digital Information Consumers Can Trust Digital Consumer Information in the Context of the Future Value Chain 2020 Future Value Chain Building Strategies for the New Decade 2
More information