2 Highlights H1 2019/20 5 79% 21% 84% 16% 6 79% - PowerPoint PPT Presentation

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Highlights H1 2019/20 5

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• H1 2019/20 H1 2018/19 REPORTED ORGANIC Reported (* €M) GROWTH % GROWTH % • Revenue 46,3 45,2 2,5% 0,0% Cost of sales -19,2 -18,9 1,8% 0,8% GROSS PROFIT 27,1 26,3 3,0% -0,5% • Gross margin % 58,5% 58,3% # D&A expenses -14,2 -13,3 6,6% 5,1% % of revenues -30,7% -29,5% • OPERATING PROFIT 12,9 13,0 -0,7% -6,2% Operating margin % 27,9% 28,8% # Share of profit of JVs, net of tax 0,4 -0,1 49,5% EBIT 13,3 12,9 2,6% -5,2% • EBIT margin % 28,6% 28,6% # Finance costs -1,7 -1,8 -5,8% -5,9% PROFIT BEFORE TAX 11,6 11,2 4,0% -5,2% Income tax -3,1 -3,3 -6,1% -13,5% PROFIT FOR THE PERIOD 8,5 7,9 8,1% -1,8% € 0,68 € 0,63 Earnings per share 8,1% -1,8% 20

+2.5% 46.3 -1.3 1.1 2.4 -0.8 78.5% -0.2 0.2 45.2 21.5% H1 2019/20 H1 2018/19 REPORTED ORGANIC Revenue (* €M) GROWTH % GROWTH % Δ Global Brands Δ Regional Brands Δ FX H1 2018/19 H1 2019/20 Global brands 36,4 35,2 3,5% 0,6% 78,5% 78,5% 58.3% 44.9% 58.5% 62.3% Regional brands 9,9 10,1 -1,1% -1,9% 0,2 Total 46,3 45,2 2,5% 0,0% 21

• • +2.5% 46.3 • 0.6 -0.8 • 1.1 0.2 45.2 0.2 -0.7 2.4 92.5 0.3 92.2 • 12.8% • Δ Western Δ Asia -Pacific Δ North Δ Emerging Δ FX H1 2018/19 H1 2019/20 Europe America Markets • • 22

• • +2.5% • 0.6 46.3 -0.8 • 1.1 2.4 92.5 0.2 92.2 45.2 0.2 -0.7 0.3 • 18.5% • • Δ Western Δ Asia -Pacific Δ North Δ Emerging Δ FX H1 2018/19 H1 2019/20 Europe America Markets • • 23

+3.0% -1.3 27.1 2.4 -0.8 0.9 26.3 0.1 -0.1 -0.3 0.2 • Δ Western Δ Asia -Pacific Δ North Δ Emerging Δ FX H1 2018/19 H1 2019/20 Europe America Markets • 70.8% 55.0% 55.6% 58.3% 56.1% 58.5% Reported gross margin 24

• +2.6% 13.3 13.2 0.0 -0.3 0.3 -1.3 • 12.9 0.7 2.4 -0.4 -0.8 • • 78.5% • Δ Global Δ Regional Δ Overheads Δ FX H1 2018/19 One-off costs H1 2018/19 H1 2019/21 normalized Brands Brands and Depreciation 28.6% 46.5% 43.5% 28.6% Reported EBIT margin 25

• H1 2019/20 H1 2018/19 REPORTED ORGANIC Reported (* €M) GROWTH % GROWTH % Revenue 36,4 35,2 3,5% 0,6% • Cost of sales -13,7 -13,6 0,6% -0,7% GROSS PROFIT 22,7 21,5 5,4% 1,4% • Gross margin % 62,3% 61,2% D&A expenses -5,8 -5,4 7,3% 5,6% % of revenues -16,0% -15,4% • OPERATING PROFIT 16,8 16,1 4,7% 0,0% Operating margin % 46,3% 45,8% Share of profit of JVs, net of tax 0,1 -0,1 EBIT 16,9 16,0 5,8% 0,1% • EBIT margin % 46,5% 45,5% 26

• REPORTED ORGANIC Reported (* €M) H1 2019/20 H1 2018/19 GROWTH % GROWTH % • Revenue 9,9 10,1 -1,1% -1,9% Cost of sales -5,5 -5,2 4,8% 4,9% GROSS PROFIT 4,5 4,8 -7,5% -9,2% • Gross margin % 44,9% 48,0% D&A expenses -0,4 -0,5 -8,2% -8,1% % of revenues -4,3% -4,7% OPERATING PROFIT 4,0 4,4 -7,5% -9,3% Operating margin % 40,5% 43,3% • Share of profit of JVs, net of tax 0,3 0,0 EBIT 4,3 4,4 -1,3% -6,8% EBIT margin % 43,5% 43,6% 27

• H1 2019/20 H1 2018/19 REPORTED ORGANIC Reported (* €M) GROWTH % GROWTH % Revenue 46,3 45,2 2,5% 0,0% • Cost of sales -19,2 -18,9 1,8% 0,8% GROSS PROFIT 27,1 26,3 3,0% -0,5% Gross margin % 58,5% 58,3% # D&A expenses -14,2 -13,3 6,6% 5,1% • % of revenues -30,7% -29,5% OPERATING PROFIT 12,9 13,0 -0,7% -6,2% Operating margin % 27,9% 28,8% # Share of profit of JVs, net of tax 0,4 -0,1 49,5% EBIT 13,3 12,9 2,6% -5,2% EBIT margin % 28,6% 28,6% # Finance costs -1,7 -1,8 -5,8% -5,9% PROFIT BEFORE TAX 11,6 11,2 4,0% -5,2% • Income tax -3,1 -3,3 -6,1% -13,5% PROFIT FOR THE PERIOD 8,5 7,9 8,1% -1,8% • € 0,68 € 0,63 Earnings per share 8,1% -1,8% • 28

• H1 2019/20 FY 2018/19 H1 2018/19 Reported (* €M) • Intangible assets 306,8 306,8 306,9 Investments in joint ventures 7,6 7,6 6,8 Other 8,2 11,0 7,4 NON-CURRENT ASSETS 322,6 325,4 321,0 • Cash and cash equivalents 33,8 21,2 12,2 Net working capital 22,1 18,5 19,9 Other 2,4 0,0 2,6 CURRENT ASSETS 58,4 39,8 34,7 TOTAL 380,9 365,2 355,7 Funded by equity and liabilities EQUITY 196,9 192,2 188,1 H1 2019/20 FY 2018/19 H1 2018/19 Reported (* €M) Loans and borrowings 49,7 47,6 41,0 Deferred tax liabilities 41,3 40,0 45,2 Other 78,8 77,4 76,3 NON-CURRENT LIABILITIES 169,7 165,0 162,5 Deferred tax assets 2,1 3,3 6,9 Deferred tax liabilities -43,4 -43,2 -29,6 Loans and borrowings 14,0 7,6 4,6 Total deferred tax -41,3 -39,9 -22,7 Derivative financial instruments 0,4 0,4 0,4 CURRENT LIABILITIES 14,3 8,0 5,0 TOTAL 380,9 365,2 355,7 29

Free operating cash flow vs. last year • +35.8% 8,878 69 445 2,049 6,536 166 -93 -294 Δ Δ Δ Working Δ Income Δ CAPEX Δ Other FOCF FOCF September September Operating Depreciation capital taxes 2019 2018 income Cash conversion • 12,911 -377 830 -4,043 8,878 596 -1,039 6,536 Operating Depreciation CAPEX Working Income tax Other FOCF FOCF profit capital September September September 2019 2018 2019 30

• • • • 0.6 -0.8 • • • 12.8% 31

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