1 / 16

Giordano International Limited (Stock code: 709) March 26, 2009 (Thursday )

2008 Annual Results. Giordano International Limited (Stock code: 709) March 26, 2009 (Thursday ). Core business holding steady. Solid fundamentals. 1 Inventory held at year end divided by full year turnover times 366 or 365 days 2 26 days for continuing operations only.

Download Presentation

Giordano International Limited (Stock code: 709) March 26, 2009 (Thursday )

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript


  1. 2008 Annual Results Giordano International Limited (Stock code: 709) March 26, 2009 (Thursday)

  2. Core business holding steady Giordano 2008 Annual Results

  3. Solid fundamentals 1 Inventory held at year end divided by full year turnover times 366 or 365 days 2 26 days for continuing operations only Giordano 2008 Annual Results

  4. Return to shareholders 1 Continuing and discontinued operations combined Giordano 2008 Annual Results

  5. Exit manufacturing to focus on retail • Completed divestiture of remaining 51% shareholding in manufacturing subsidiary Placita in August 2008 • 2008 profitable attributable to shareholders (including gain on disposal and share of loss) from discontinued operations was HK$21 million, or 1.4 HK cents per share • Residual manufacturing operations generated turnover of HK$119 million (practically all to other Giordano Group companies) and operating profit of HK$6 million in 2008 • Reduced shareholding in manufacturing joint venture Speedy Garment from 49% to 9.9% in June 2008 • Recorded a one-time gain on disposal of HK$17 million, or 1.1 HK cents per share Giordano 2008 Annual Results

  6. Exit manufacturing to focus on retail 1 Combined results including both continuing and discontinued operations 2 Year-on-year change Giordano 2008 Annual Results

  7. Core retail business holding steady Giordano 2008 Annual Results

  8. Retail & Distribution turnover by brand For the year ended December 31, 2008 • BSX / Bluestar Exchange • 4% of 2008 turnover (2007: 6%) • 2008 sales: HK$206M, down 24.8% • Comp store sales down 1.2% • 96 outlets at end-2008, down 21 • Giordano Concepts • 5% of 2008 turnover (2007: 4%) • 2008 sales: HK$217M, up 11.9% • Comp store sales down 11.4% • 33 outlets at end-2008, up 19 • Giordano Ladies • 6% of 2008 turnover (2007: 6%) • 2008 sales: HK$265M, up 8.2% • Comp store sales down 0.1% • 46 outlets at end-2008, up 7 • Giordano & Giordano Junior • 85% of 2008 turnover (2007: 84%) • 2008 sales: HK$4,006M, up 8.1% • Comp store sales down 0.9% • 1,825 outlets at end-2008, up 102 Giordano 2008 Annual Results

  9. Retail & Distribution turnover by market For the year ended December 31, 2008 • Mainland China • 35% of 2008 turnover (2007: 31%) • Turnover up 25.2% in 2008 • 909 out of 2,006 stores worldwide Others, 10% (10%)1 Thailand, 3% (3%)1 Malaysia, 4% (3%)1 Indonesia, 4% (4%)1 Australia, 5% (5%)1 Singapore, 8% (9%)1 Taiwan, 13% (15%)1 Hong Kong, 18% (20%)1 1 YOY figures in brackets Giordano 2008 Annual Results

  10. Performance review: Group markets 1 In local currency terms for outlets which were open for the full 12 months in each of the two fiscal years under comparison Giordano 2008 Annual Results

  11. Performance review: Group markets 1 In local currency terms for outlets which were open for the full 12 months in each of the two fiscal years under comparison Giordano 2008 Annual Results

  12. Performance review: Non-group markets 1 In local currency terms for outlets which were open for the full 12 months in each of the two fiscal years under comparison Giordano 2008 Annual Results

  13. Outlook: Challenges ahead… • Group turnover down 12.9% in first two months of 2009 but long term growth prospects intact • Focus on core brand strengths of Quality, Value and Service • Continue to focus on growth in Mainland China • New sales office to drive growth in Western China • Focus on growing presence in 2nd tier and smaller cities • Target to add 90 outlets in Mainland China in 2009 • Opportunities to “trade-up” into prime store locations • Target to achieve significant reductions in FOB cost and expenses • Strong balance sheet with net cash of HK$454 million on Dec 31, 2008 • Healthy inventory turnover on sales of 23 days as at Dec 31, 2008 Giordano 2008 Annual Results

  14. Group Financial Highlights (2004 – 2008) Continuing and discontinued operations combined Giordano 2008 Annual Results

  15. Global retail network Giordano 2008 Annual Results

  16. Q&A 2008 Annual Results Giordano International Limited(Stock code: 709)

More Related