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Big Yellow Group PLC

Big Yellow Group PLC. Results for the Year End and Fourth Quarter ended 31 March 2003 7 May 2003. Highlights.

david-manning
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Big Yellow Group PLC

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  1. Big Yellow Group PLC Results for the Year End and Fourth Quarter ended 31 March 2003 7 May 2003

  2. Highlights • Earnings from continuing operations for the year before exceptional item, depreciation, amortisation and tax of £1.3 million (2002: Loss £0.2 million) • Maiden dividend of 1.0 pence per ordinary share • 27 stores currently open with a further 5 stores committed providing 1.9 million sq.ft. of storage space when completed • Like for like annualised sales for 19 stores open throughout the year up 41% • Merchandise, insurance and other sales increased to 13.5% of storage income (March 2002: 12.9%)

  3. Changing Market • Store Profiles • Competitors • Supply and Demand • Big Yellow Trading Performance • Property Acquisitions and Property Market

  4. Financial Strategy • Balance Sheet • Cashflow and Capex • Funding Strategy

  5. Management Changes

  6. Store Performance

  7. Consolidated profit & loss account

  8. Balance sheet

  9. Consolidated cash flow

  10. Conclusion

  11. Appendix

  12. History • Early 1998 - market research commenced • Formed Cubic Self Storage in October 1998 • Acquisition of Big Yellow Self Storage Company in January 1999 • PRICOA investment in September 1999 • AIM listing in May 2000 • Placing and Open Offer in May 2001

  13. Self-storage market • The market • US market • 34,000 stores • UK market • 2-300 stores • Potential UK market size • 1,450 stores • Key influencers • public awareness • population mobility • physical planning and constraints • focus on high density development on brownfield sites • small business formation • rising disposable incomes • high rate household formation

  14. Big Yellow model • Develop premium brand • attractive modern premises • prominent main road frontages • high quality fit out • broad client base - B2B and B2C • ancillary retail and products • Customer focus • customer service/loyalty • safe/secure • easy access 24 hours per day • Financial model • economies of scale • roll-out programme • asset backed

  15. Net Operating Income (£000s) Costs (£000’s) 100,000 sq ft 25,000 sq ft Net Operating Income £1,150,000 Net Operating Income Additional profit based on larger store format 100,000 sq ft £000’s Net Operating Income £153,000 Costs £245,000 25,000 sq ft Costs £420,000 Economies of scale

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