O P P O R T U N I T Y D A Y P R E S E N T A T I O N Q 1 / 2 0 2 0 27. 02. 2020
N W N W AGEND GENDA 1. BEFORE COVID - JAN – FEB 2020 PERFORMANCE 2. COVID PANDEMIC - COVID-19 BUSINESS ADAPTATION 3. AFTER COVID - NEW NORMAL 1
“ Sick staff can ’ t work and dead customer don ’t buy” 2
HOW COVID-19 IS IMPACTING SABINA • Jan – Feb Revenue increased 8% as our yearly target. Revenue • Unluckily launch “ Invisible Wire ” on 6,000 THB mm March when the State of Emergency 5,000 decree has announced to close down all the department stores to stop 4,000 3,295 3,103 Covid19 widespread. 2,679 2,397 3,000 2,308 15.8% 6.2% • Almost 1,200 product counselors have 2,000 to leave the stores but start to sell 774 682 directly by social commerce through 1,000 เอารุปเก่ามาแปะ self IG and Facebook with our friendly - Sabina@home program. 2015 2016 2017 2018 2019 Q1 19 Q1 20 Gross Profit • High price product of “Invisible THB mm Wire” campaign has not been sold 54.4% 54.7% 52.8% 52.9% 52.1% 51.6% 50.9% offline in a sudden as all Stores are closed, more discount products 1,786 menu sets have been offered 1,595 through online instead. 1,356 1,258 1,198 • Self production capacity has been 421 356 scarified to make free fabric mask for employees, commodities, some government sectors and hospitals. 2015 2016 2017 2018 2019 Q1 19 Q1 20 Net Profit 12.5% 12.3% 11.7% 10.3% THB mm • Quickly revised all expenses to 9.1% 413 cope with the Crisis. 7.3% 7.2% 362 • Cutting 30% marketing budget but 243 48.7% heavily self conveys the marketing 14.3% 176 166 messages through Social media. 95 70 2015 2016 2017 2018 2019 Q1 19 Q1 20 3
PERFORMANCE UPDATE Q1 20 Sabina Brand Revenue 7 2 % NSR Revenue 1 5 % THB mm THB mm 2,581 336 2,489 2,291 2,112 254 1,977 32.3% 163.5% 8.6% 3.7% 96 100 92 585 483 2015 2016 2017 2018 2019 Q1 19 Q1 20 2015 2016 2017 2018 2019 Q1 19 Q1 20 • The COVID-19 pandemic is having a significant impact growth in Q1 because • Jan&Feb sales still can make 8% growth according to the target but unluckily launch “ Invisible Wire ” on March when the State of Emergency decree has announced to part of the imported product has been delayed on February shipment. close down all the department stores to stop Covid19 widespread. • Consumers are considering positive changes from traditional platform to Digital Platform that impact in changing their lifestyle. • Almost 1,200 product counselors have to leave the stores but start to sell directly by • Temporally Increase 30 offline staffs to work on social commerce preparing for social commerce through self IG and Facebook. April and May Sabina Export Revenue 4 % OEM Revenue 9% THB mm THB mm 287 287 256 76 220 212 64 60 59 52 30.3% 0.1% 25.7% 27.0 17.4% 20.6 73 62 2015 2016 2017 2018 2019 Q1 19 Q1 20 2015 2016 2017 2018 2019 Q1 19 Q1 20 • • Covid19 has not landed UK and EU in Mar; however, the sales still went down due Covid19 has hit Thailand a month before hitting CLMV; therefore, Sabina sales still make the high growth in Q1. to poor economic. 4
Sabina Brand TVC : INVISIBLE WIRE NEW CAMPAIGN SABINA INVISIBLE WIRE To register Sabina register Sabina Wireless Bra as “ Invisible Wire ” to be superior to the category perception. Trend Igniter Instagram brand Real consumer talk about and influencer post Sabina Wireless Bra Photo Spin fashion photo set to target consumer to expand Visibility and product efficacy 5
HOW COVID-19 IS IMPACTING SABINA 5 85 85 Stores Offline retailers have closed all stores due to the COVID-19 outbreak. Store 2018 2019 Dif Department Store 80 83 +3 Discount Store 307 308 +1 Shop 100 106 +6 Traditional Trade 93 88 -5 Total 580 585 +5 6
ONLINE SALES The rise of online purchasing during the COVID-19 pandemic. • Urgently Increase CATALOGUE 30 offline staffs on 17% TV March 22 nd to work 34% on social commerce preparing for April and May. ONLINE 49% Q1 2020 7
CSR TIME ON MARCH BECOMES NEW NEW BUSINESS ON APRIL-MAY BUSINESS AND GOING FORWARD. A crisis brings new opportunities and should be a trigger to explore new directions. WIN-Masks was developed with strategic cooperation between Ministry of Higher Education, Science, Research and Innovation, Faculty of Medicine Siriraj Hospital, Thailand Center of Excellence for Life Sciences (TCELS). At least our sewing staffs have work to do, lingerie inventory do not pile up and helping cash outflow by offering our free production capacity donated to produce fabric March for Siriraj Hospital. 8
PERFORMANCE UPDATE Q1 20 Sabina Revenue Net Profit G6.2% 2018 2019 2020 THB mm THB mm 117 3,295 110 G15.8% 105 G12% 97 96 95 3,103 G4% 79 75 70 2,679 G-26% 2,397 2016 2017 2018 2019 Q1 Q2 Q3 Q4 Q1-2019 Q1-2020 % YoY 95 70 -26% Net Profit 9
Financial Highlights Solid top line growth with strong margin improvement Consistently growing top line SG&A to sales THB mm THB mm 44.1% 43.4% 40.7% 40.1% 38.7% 37.4% 3,295 3,103 2,679 1,276 1,156 2,397 1,067 1,051 2,308 997 274 682 2015 2016 2017 2018 2019 Q1 2020 2015 2016 2017 2018 2019 Q1 2020 % YoY Growth 7% 4% 12% 16% 6% SG&A SG&A/Sales Strong GPM and steadily expanding EBIT margins Significantly expanding net profit and NPM % THB mm 54.4% 12.5% 52.8% 52.9% 52.1% 51.6% 50.9% 11.7% 10.3% 9.1% 7.2% 7.3% 15.9% 14.6% 13.4% 11.4% 9.2% 9.2% 413 362 70 243 166 176 2015 2016 2017 2018 2019 Q1 2020 2015 2016 2017 2018 2019 Q1 2020 % YoY Growth Net Profit NPM EBIT Margin GPM 12.7% 6.1% 38.4% 48.7% 14.3% 10
Financial Highlights Days inventory and inventory turnover Days sales outstanding and account receivable turnover 1.4 8.5 8.3 8.1 8.0 1.2 7.5 7.3 1.1 1.0 1.0 0.9 50 49 394 46 374 45 361 44 43 328 297 255 2015 2016 2017 2018 2019 Q1 2020 2015 2016 2017 2018 2019 Q1 2020 DSO (Days) A/R Turnover (Times) DIO (Days) Inventory Turnover (Times) Account payable turnover days and account payable turnover Cash conversion cycle Days 8.9 8.9 8.7 8.6 8.4 8.0 402 382 362 331 296 46 43 258 42 42 41 41 2015 2016 2017 2018 2019 Q1 2020 2015 2016 2017 2018 2019 Q1 2020 11 A/P Turnover Days (Days) A/P Turnover (Times)
Financial Highlights Healthy balance sheet with ample debt room to raise fund whenever it is needed ROA ROE Percent Percent 22.4 14.7 14.5 20.2 13.5 19.4 10.5 13.3 7.9 7.3 10.3 10.3 2015 2016 2017 2018 2019 Q1 2020 2015 2016 2017 2018 2019 Q1 2020 D/E EPS THB/Share 0.62 0.59 1.19 0.42 1.04 0.33 0.28 0.26 1,157 1,119 0.70 767 492 484 552 0.51 0.48 1,895 1,907 1,835 1,861 1,754 1,664 0.20 2015 2016 2017 2018 2019 Q1 2020 2015 2016 2017 2018 2019 Q1 2020 Total Equity Total Liabilities D/E 12
Stock Information and Dividends Dividend policy is not less than 40% of normal net profit 2015 2016 2017 2018 2019 THB 40% 47% 117% 100% 100% 1.19 1.04 0.62 0.54 0.70 0.51 0.48 0.68 0.57 0.50 0.14 0.11 0.14 0.10 0.08 2015 2016 2017 2018 2019 EPS (Bt./share) 1st Half 2nd Half 13
COVID-19 Business Adaptation 1 14
HOW DO WE Activate our Brand Purpose : Stay Home Still Doomm WIN OUR CONSUMERS ’ HEARTS ? How to safely receive underwear Consumer pay more attention to products on sales . deliveries in the age of social distancing Making sabina letters apart to represent social distancing during the COVID-19 pandemic. 15
HOW DO WE Sabina WIN OUR Work From Home Work From Heart EMPLOYEES ’ HEARTS ? Weekly communicate with all employees through internal speaker phone bringing good morals and better understanding to the crisis for both hygienic policy and financial situation. 16
NEW BUSINESS NEW INNOVATION * UV Steriliser machine 17
NEW NORMAL NEW SKILL MAGIC SILVER INNOVATION Seamstress sews underwear has turned to making face masks. LIQUID-REPELLENT After "WIN-Masks" charity projects in need of donations from the public and organisations to help produce and provide necessary items for medical Personnel , Sabina have started making our own brand “ Triple Mask ” with a pop-up production line . ANTI-DUST 18
SABINA TRIPLE MASK WITH MAGIC SILVER INNOVATION 19
NEW CHANNEL VENDING MACHINE 20
REOPENING STORES&SHOPS, MAY 17 th , THE NEW HOPE BEGINS. FACESHIELD SABINA MASK paying “special attention Stop Covid-19 Policy 21
REOPENING SHOP The safety of our customers is always Sabina's most important priority. Reserving sanitized all space from fitting rooms to window shopping. Sabina have provided hand sanitiser gel at all stores. 22
The coronavirus has moved the industry away from High-touch to Low-touch Cashless transactions using e-money applications, credit cards or debit cards to handling physical cash to prevent spread of COVID-19. Temporarily closing all our fitting room to avoid SELF MEASUREMENT spreading COVID-19. Offering free Paper measuring tape, handy tool while shopping Lingeries. 23
NEW BUSINESS Coordinate fashion fabric mask with bra and panty. Exclusive print made in collaboration with Julibaker and Summer 24
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