1H 2010 Results Presentation July 29, 2010 0 0 1H 2010 Key Facts - - PowerPoint PPT Presentation

SLIDE 1

1H 2010 Results Presentation

July 29, 2010

SLIDE 2

1 1

1H 2010 Key Facts

• Sales: Euro 435.5 million (-9.8%)
• DOS comparable store sales decreased 2%; SS2010 (from March 1st to July 4th) increased 1%
• EBITDA: Euro 79.4 million, 18.2% margin (Euro 119.6 million in 1H 2009)
• EBIT: Euro 59.0 million, 13.5% margin (Euro 96.5 million in 1H 2009)
• Net Income: Euro 37.9 million, 8.7% margin (Euro 56.6 million in 1H 2009)
• Net Cash Position: Euro 99.9 million (Euro 75.9 million in 1H 2009)
• 1.032 Geox Shop at the end of June (24 net openings)
• FW 2010 Final Orders Backlog (Wholesale and Franchising channels only) increased 2%

SLIDE 3

2 2

Net Sales Breakdown by Channel

435.5 72.6 94.0 268.8 Total Net Sales Franchising DOS Wholesale

Franchising 16% DOS 17% Wholesale 67% Franchising 16% DOS 22% Wholesale 62%

• 9.8 %
• 16.5 %
• 5.4 %

+ 11.5 %

DOS: Directly Operated Stores

1H 2009 - 1H 2009 - Euro 482.9m uro 482.9m Δ % 1H 2010 – 1H 2010 – Euro 435.5m uro 435.5m

• 10.3 %
• 16.9 %
• 5.4 %

+ 10.1 % Current FX Constant FX

SLIDE 4

3 3

Net Sales Breakdown by Region

165.9 435.5 54.7 25.9 189.0 Total Net Sales Rest of World North America Europe Italy

• 8.7 %
• 5.2 %

Italy 36% Europe 46% North America 6% Rest of World 12%

• 15.0 %
• 4.5 %
• 9.8 %

Europe includes Geox European most mature markets (Germany, France, Spain, Portugal, Benelux, Austria, Switzerland, UK, Scandinavia)

Italy 38% Europe 43% North America 6% Rest of World 13%

1H 2009 - 1H 2009 - Euro 482.9m uro 482.9m 1H 2010 – 1H 2010 – Euro 435.5m uro 435.5m Δ %

• 15.5 %
• 5.2 %
• 15.1 %
• 4.9 %
• 10.3 %

Current FX Constant FX

SLIDE 5

4 4

Net Sales Breakdown by Product

1H 2009 - 1H 2009 - Euro 482.9m uro 482.9m

Apparel 9% Footwear 91%

1H 2010 – 1H 2010 – Euro 435.5m uro 435.5m

Apparel 11% Footwear 89%

• 9.8 %
• 11.6 %

+ 7.8 % Footwear Apparel Total Net Sales 387.4 48.1 435.5

Δ %

Current FX Constant FX

• 10.3 %
• 12.2 %

+ 7.8 %

SLIDE 6

5 5

Geox Shops Network

Barcellona, Paseo de Gracia Ge Geox

• x
• f which
• f which

Ge Geox

• x
• f which
• f which

Ne Net Ope t Openings nings Shop

• ps

DOS Shop

• ps

DOS OS 1H 1H2010 2010 Italy 335 84 327 89 8 Europe 310 106 306 87 4 North America 51 42 56 49

• 5

Rest of World 158 19 146 19 12 Under license agr. * 178

• 173
• 5

Tot Total Geox l Geox Shop Shop 1,032 1,032 251 251 1,008 ,008 244 244 24 24

*Shops opened under license by partners in the Middle East and in the Far East. Sales from these shops are not included in the franchising channel.

2009 2009 1H 1H2010 2010

During 1H2010 the Group opened 61 Geox Shops and closed 37 Geox Shops.

SLIDE 7

6 6

(Euro.m)

1H 1H2010 2010 % 1H2009 009 % Net S Net Sales les 435.5 435.5

100% 00%

482.9 482.9

10 100% 0% YoY growth (9.8%) 4.0%

Cost of sales (214.9)

(49.3%)

(230.3)

(47.7%)

Gross Pr ss Profit

• fit

220.6 .6

50 50.7%

252.6 252.6

52 52.3%

Selling & Distribution (22.3)

(5.1%)

(23.4)

(4.9%)

G&A (113.8)

(26.1%)

(107.9)

(22.4%)

A&P (25.5)

(5.8%)

(19.8)

(4.1%)

EB EBIT IT a adj 59.0 59.0

13 13.5%

101.4 101.4

21 21.0%

Asset Impairment 0.0

0.0%

(4.9)

(1.0%)

EB EBIT IT 59.0 59.0

13 13.5%

96.5 96.5

20 20.0%

Net Interest (1.7)

(0.4%)

(2.9)

(0.6%)

EB EBT 57.3 57.3

13 13.2%

93.6 93.6

19 19.4%

Income Taxes (19.4)

(4.4%)

(37.1)

(7.7%) Tax rate 33.8% 39.6%

NET NET IN INCOM COME 37.9 37.9

8.7% 8.7%

56.6 56.6

11 11.7%

EB EBIT ITDA DA 79.4 79.4

18 18.2%

119.6 119.6

24 24.8%

Summary Income Statement

SLIDE 8

7 7

Net Sales and EBIT Breakdown by Region and Product

(Euro.m) Italy Net Sales 165.9 175.0 EBIT 37.0 22.3% 51.8 29.6% Europe Net Sales 189.0 222.3 EBIT 23.3 12.3% 49.5 22.3% North America Net Sales 25.9 28.3 EBIT (8.1) (31.4%) (10.6) (37.5%) RoW Net Sales 54.7 57.3 EBIT 6.7 12.3% 5.8 10.1%

Tot Total Net l Net Sa Sales les 435.5 435.5 482.9 482.9

EBIT EBIT

59.0 59.0

13.5% 13.5%

96.5 96.5

20.0% 20.0% Footwear Net Sales 387.4 438.3 EBIT 49.4 12.8% 87.5 20.0% Apparel Net Sales 48.1 44.6 EBIT 9.6 19.9% 9.0 20.3%

Tot Total Net et Sa Sales les 435.5 435.5 482.9 482.9

EBIT EBIT

59.0 59.0

13.5% 13.5%

96.5 96.5

20.0% 20.0%

By P By Product

• duct

1H 2009

By re By regi gion

• n

1H2010

SLIDE 9

8 8

(Euro.m) Ju June, ne, 2010 2010 Dec, 2009 ec, 2009 Ju June, 2009 2009 Intangible Assets 72.7 74.7 78.1 Tangible Assets 68.9 71.5 75.9 Other Fixed Assets, net 38.5 40.7 34.3 Tota tal F Fixed xed A Assets ts 180.1 180.1 186. 86.9 188. 88.3 Operating Working Capital 169.7 159.5 205.3 Other current assets (liabilities), net (20.0) (10.4) (49.2) Invested ed Ca Capital 329.7 29.7 335. 35.9 344. 44.4 (Cash) (99.9) (102.6) (75.9) Staff Severance and Risk Fund 9.8 9.8 7.6 Shareholders’ Equity 419.9 428.8 412.7 Invested ed Ca Capital 329.7 29.7 335. 35.9 344. 44.4

Summary Balance Sheet

SLIDE 10

9 9

167.5 205.3 169.7 159.5 201.8 29.8 31.6 50.7 73.3 97.6 118.3

2001 2002 2003 2004 2005 2006 2007 2008 2009 1H09 1H10

Operating Working Capital

18.4% 159.5 (121.7) 128.8 152.4 Dec, Dec, 2009 2009 20.8% 169.7 (119.7) 158.0 131.3 June, 2010 June, 2010 22.5% 205.3 (93.2) 145.4 153.1 June, 2009 June, 2009 % on last 12 months sales Ope Operating Wo ating Working Capital rking Capital Account payables Account receivables Inventories (Euro.m)

20.2% 17.5% 20.0% 21.6% 21.5% 19.3% 21.7%

%

• n sales

22.6% 18.4% 22.5% 20.8%

SLIDE 11

10 10

(Euro.m) 1H 10 1H 10 1H 1H 09 09 2009 2009 Net i t income 37.9 37.9 56.6 56.6 66.7 66.7

Depreciation & Amortization 20.4 23.1 49.3 Other Non-Cash Items 5.6 10.8 23.2

Fun Funds s from rom Op Operations ations 63.9 63.9 90. 90.4 139.3 139.3

Change in Operating Working Capital (11.9) (1.6) 37.0 Change in Other Current Assets, net 7.5 30.9 (16.6)

Operating Ca Operating Cash F Flow

• w

59.5 59.5 119.8 119.8 159.7 59.7

Capital Expenditures (15.8) (22.0) (42.0) Disposals 2.1 1.4 3.0

Capit Capital exp expenditures, itures, Net et (13.7 13.7) (20.6 20.6) (39.0 39.0) Free Cas Free Cash F Flow

• w

45.8 5.8 99.1 9.1 120.6 20.6

Dividends (51.8) (62.2) (62.2) Equity issue 0.0 0.0 0.0

Change ange in in Net et Financia Financial Posit Position

• n

(6.1 6.1) 36.9 36.9 58.5 58.5 Net Fina et Financi ncial P Positi tion p prior to r to fair va air value ue a adj, j, beg

• eg. o

. of t the p e period 101.6 101.6 42.8 42.8 42.8 42.8

Changes in Net Financial Position (6.1) 36.9 58.5 Effect of translation differences 0.4 0.3 0.3

Net Fina et Financi ncial P Positi tion p prior to r to fair va air value ue a adj, en j, end o

• f t

the p e perio riod 95.9 95.9 80.1 80.1 101.6 101.6

Fair value adjustment of derivative contracts 4.0 (4.1) 1.0

Net Fina et Financi ncial P Position sition 99.9 99.9 75.9 75.9 102.6 102.6

Summary Cash Flow Statement

Euro 15.8 million CAPEX in 1H10 of which Euro 9.3 million for the stores network

SLIDE 12

11 11

Annex

SLIDE 13

12 12

Lir S.r.l. ( Lir S.r.l. (**) 184,250,000 184,250,000 71% 71% Ch Chairman airman Mario Moret Mario Moretti Pole Polegato ato Marke Market 74,957,331 74,957,331 29% 29% CEO CEO Die iego Bolzonello

• Bolzonello

Total n° tal n° o

• f Share

Shares 259,207,331 259,207,331 100% 100% De Deput uty C Chairman airman Enrico More rico Moretti Pole tti Polegato ato Direct Director

• r

Lodovico Mazzolari Lodovico Mazzolari Indi Indipen endent D Direct rector

• r

Umb Umbert rto Pa

• Paolu
• lucci

cci Indi Indipende dent Dire nt Directo ctor France Francesco sco G Gianni anni Indi Indipen endent D Direct ctor

• r
• A. A

Anto tonio nio G Giusti usti (*) s (*) source: Con ce: Consob

• b

Indipen endent D Direct rector

• r

Bru Bruno Ba

• Barel

rel (**) M (**) Moret retti Pole Polegato ato's famil s family Indi Indipende dent Dire nt Directo ctor Renato nato A Albe berini rini Febru February 26 26 Bo BoD - FY D - FY2009 2009 Marina C Marina Cargnello - IR nello - IR ir@ ir@geox.com eox.com Ap April 2 l 21 Shareh ehold

• lders' meet

' meeting - FY

• FY2009

2009 Tel: +39 0423 282476 Mobile: +39 334 6535536 Ma May 14 14 First Quarte First Quarter 2010 r 2010 Liv Livio Librale Libralesso sso - C

• CFO

Jul uly 29 29 First Half 2010 First Half 2010 Massimo Massimo Ste Stefane anello llo - C

• Corpora
• rate Ma

e Managin ing Dire Directo ctor No Novembe mber 12 12 Nine Nine Mo Months 2010 nths 2010 Geox S. Geox S.p.A. .A.

www.geox.biz

Via F ia Feltrina C ltrina Centro ntro, 16 16 31044 Biade 31044 Biadene ne di Mo di Monte ntebelluna, T lluna, Treviso iso ( (Ital taly)

No Note and Disclaime and Disclaimer

2010-200 2010-2004 fi figure ures ar are re report

• rted unde

under IAS/IFR IAS/IFRS; 2003-2001 2003-2001 fi figure ures unde under Italia Italian GAAP.

• GAAP. Cert

ertain statemen ements mad made in thi this pre presentatio tation are are forward ward lo looking ing state tateme ments.

• nts. Such

Such state statements ts are are base based on curre current nt expe pectatio ations ns and and are re subje subject to a numbe number of risks risks and nd unc uncertaintie rtainties that hat could ld cause use actual ual results ults to to diffe differ mate aterially ially fro from any any expecte ted future uture results ults in in fo forward rward looking ing state statements.

• ts. This

his anno nnounce unceme ment nt do does no not constitute stitute an inv nvitatio itation to unde nderwrite write, subsc subscribe ibe for or othe herwise rwise acquire cquire or dispo dispose of any G any Geox S.p.A S.p.A. share

• shares. A

. Any re y refe fere rence nce to to past pe past perfo rformance mance is no is not a guide t a guide to to future future pe perfo rformance mance.

Share Shareholde ders rs (*

(*)

Board of

• f Directors

Directors 2010 F 2010 Financial Ca l Calen lendar In Investor Rela

• r Relati

tion

• ns Con

Contacts ts

SLIDE 14

13 13

Geox S.p.A. Geox S.p.A.

Via Feltrina Via Feltrina Centro, 16 Centro, 16 31044 Biadene 31044 Biadene di di Montebelluna, Treviso Montebelluna, Treviso www.geo www.geox.biz .biz