company presentation - tom tailorir.tom-tailor.com/download/.../company_presentation... · tom...

1

Company Presentation

July 2010

Casual fashion for a casual life

2

Important information

This document has been prepared by Tom Tailor Holding AG for information purposes only, solely for the use at this investors presentation must be treated confidentially by attendees at such presentation and must not be distributed, passed on or otherwise disclosed. In particular, this document is not an offer of securities for sale in the United States or any other jurisdiction. The information contained in this document has not been independently verified. We make no representation or warranty, express or implied, as to, and you should not unduly rely on, the fairness, accuracy, completeness or correctness of the information or opinions in this document.This document contains forward-looking statements. These forward-looking statements reflect our management’s current views with respect to certain future events and financial performance. A number of factors could cause our actual results to differ materially from those projected or implied in such statements. We accept no obligation to update any of the forward-looking statements in this document or to adjust them for future events or developments.

Our common shares are listed on the regulated market of the Frankfurt Stock Exchange (Prime Standard). We publish annual, quarterly and other reports and announcements in accordance with German law and the rules of the Frankfurt Stock Exchange. You can find these publications on our website at www.tom-tailor.com.

Disclaimer

TOM TAILOR COMPANY PRESENTATION

http://www.tom-tailor.com

3TOM TAILOR COMPANY PRESENTATION 3

4TOM TAILOR COMPANY PRESENTATION

5

Strong and experienced management team

Dieter Holzer, CEO

•Joined TOM TAILOR in September 2006

•2000-2006: CEO at Tommy Hilfiger Germany

•1995-2000: Wholesale Manager at Esprit Europe, especially for Germany, UK and Eastern Europe

Dr. Axel Rebien, CFO

•Joined TOM TAILOR in October 2005

•2002-2005: Ernst & Young Corporate Finance, Transaction Advisory Services

•1999-2002: Arthur Andersen

•1991-1998: Bremer Landesbank Capital Markets

Christoph Rosa, CPO

•Joined TOM TAILOR in November 2007

•2003-2007: Marketing Director Street One (Division Head, CBR Group)

•2002-2003: Rosa Retail Proprietor

•1999-2002: P&C Buying Department



Investment highlights–A proven business concept with a strategy for systematic and profitable growth

Vertical system-supplier

of lifestyle fashion

Attractivegrowth

potential

Strong profitability

upside

Experienced management

team

¢ Lean and vertical business model with full information control over entire value chain

¢ Fashion follower approach with 12 collections per year minimising fashion risk

¢ Strong growth potential across product divisions

¢ Multi-channel distribution focused on controlled space driving growth and fostering brand reach

¢ Strong economies of scale effects

¢ Structural margin upside potential through systematic retail expansion

¢ Business revitalisation since entry of new management as base for systematic and profitable growth

¢ Long-standing industry experience and track record at leading apparel players

1

2

3

4


TOM TAILOR at a glance

Balanced product portfolio Strong international presence Multi-channel distribution

MEN 41%

WOMEN32%

KIDS & MINIS 13%

Denim Male 7%Licenses

and other 2%

Wholesale/B2B 75%

Retail/B2C 25%

Domestic69%

International31%

Total revenues 2009: €300.2mm Total revenues 2009: €300.2mm Total revenues 2009: €300.2mm

Denim Female 5%

WOMENMEN KIDS & MINIS Licenses/Accessories Denim Female

Casual86%

Denim 12%

Denim Male

Controlled distribution

Total revenues 2009: €300.2mmShop-in-shop 24%

Franchise11%

E-business6%

Retail stores 20%

Non-controlleddistribution

40%


60%

Fiscal year 2009, as of December 31, 2009


Multi-channel distribution approach providing significant growth opportunities

Retail Franchise Multi-labelE-business

93 own operated stores across

Europe202 across Europe

1,206 across Europe

~4,500 worldwide

www.tom-tailor.de

www.tom-tailor.at

www.tom-tailor.nl

PoS

as of March 31, 2010


¢ Promote identification with the brand

¢ Attract potential franchisees

¢ Mono-label stores run on a franchise basis

¢ Assistance in professional retail space management

¢ Fundamentally strong distribution channel launched in December 2006

¢ High customer convenience

Highlights

Retail / B2C Wholesale / B2B

Shop-in-shop

¢ Demarcated retail areas in department stores

¢ Situated in top locations in larger towns and cities and shopping centres

¢ Designed in accordance with TOM TAILOR’sspecifications

¢ Listings in multi-label retailers offering a limited range of TOM TAILOR products

http://www.tom-tailor.de

http://www.tom-tailor.at

http://www.tom-tailor.nl


TOM TAILOR has outperformed the apparel market

Clothing market–Germany (€bn)

TOM TAILOR Retail–Like-for-like sales growth

12.6%

2.8%4.6%

14.0%16.5%

2007 2008 2009

Excluding e-business Including e-business

Highlights

¢ Significant outperformance of TOM TAILOR, growing in Germany at a CAGR 06–08 of 12.5%, systematically gaining market share

¢ Strong growth momentum through retail store roll-out and like-for-like sales growth

¢ High level of fragmentation in the Western European and German apparel industries with the top 5 companies holding a market share of 11.7% and 15.0%, respectively

55.756.2 56.4

2006 2007 2008

Source: Verdict (2009)

+12.5%

TOM TAILOR CAGR 06–08:

+0.7%

MarketCAGR 06–08:

Top 5 companies11.7%

Others88.3%

Top 5 companies15.0%

Others85.0%

Western Europe

Market shares

Germany

Source: Mintel report (October 2009)


Lifestyle matrix

Vertical system-supplier of lifestyle fashion

A premium lifestyle brand at affordable prices

Low High

Strong market positioning in the young, casual lifestyle segment

Primarily targeting the middle-income consumer segment with a highly attractive value-for-money proposition

JIL SANDER

TOM TAILOR target group

Source: German Federal Statistical Office - Statistical Yearbook 2009, Management view; ¹ Excludes ~2.9mm households for which no disposable income figures are available as per German Federal Statistical Office

TO

M T

AIL

OR

ta

rget

gro

up

2.5 HHs(Disp. income: > €4,500)

20.3 HHs(Disp. income: €1,500-4,500)

14.4 HHs(Disp. income: < €1,500)

200837.2mm¹

Households (HHs) % of HHs

6.7%

54.6%

38.7%

Nominal disposable income of German households

Fashion degree

Exc

lusi

ve

seg

men

tB

rid

ge

seg

me

nt

Med

ium

pri

ce

seg

men

t

Lo

w t

o

me

diu

m p

rice

se

gm

ent

STRENESSEMAX MARA

ESCADAPRADA

BOGNERHUGO BOSS

STRELLSON MARC O’POLO

TOMMY HILFIGER

STEFANEL

BONITA

GERRY WEBER

ESPRIT

BENETTON

MEXX

ZARA

MANGOSTREET ONE

CECIL

S. OLIVER

H&M

ORSAY

NEW YORKER

PIMKIE

BESTSELLER GROUP

TAKKO

KIK

C&A

DIESEL

REPLAY

G-STAR

RALPH LAUREN

CLOSED

LERROS

1

11

+14%-pts

+12%-pts

+16%-pts

+2%-pts


One of the key winners in recent history according to Spiegel Outfit–a leading brand survey in Germany

Industry-leading growth rates across all relevant brand dimensions

Source: Spiegel Outfit study 6 (2007); Spiegel Outfit study 5 (2001)


Strong consumer acceptance: TOM TAILOR is one of the fastest growing apparel brands

1

Brand awareness Brand ownership Willingness to buy

2001

2006/7

40%

77%

72%

68%

71%

88%

87%

77%

8%

27%

25%

18%

22%

39%

41%

20%

12%

32%

31%

25%

26%

41%

43%

28%

+14%-pts

+9%-pts

+12%-pts

+3%-pts

2001

2006/7

2001

2006/7

2001

2006/7

Dimensions of consumer acceptance and brand recognition across competitors

+31%-pts

+11%-pts

+15%-pts

+9%-pts



Lean and vertical business model with full information control over entire value chain

Design

Technical preparation

Buying / purchasing

Product management

e.g. Women

Complete outsourcingof manufacturingand procurement

Centralisedwarehousing

system Points-of-sale

Product development Sourcing Logistics Distribution

Focus on core value added processes: product development and distribution

Track record for system expertise and meticulous supply chain management

Full information control across all value chain processes

1

¢ Low fashion risk with 12 collections per year

¢ ~90% of purchasing in wholesale segment via pre-order system minimising stock risk

¢ Multi-channel distribution approach with focus on controlled distribution

¢ Outsourced to DHL with B2B portal ensuring 24/7 availability for business partners


Lead time:

Pro

du

ct c

ycle

–ti

me

-to

-ma

rket

Standard

process

Fast

track

SaleDevelopment ProductionTransport &

warehouse

Spot style

111 8 1-4 2

14 5 1/2 1/2

PoS

4W 1/21/21T1-2 days 4 1/2 1/2

Note: Numbers in weeks unless stated otherwise


Systematic process design facilitating high flexibility to rapidly react to latest market trends

1

Co

llec

tio

n d

eve

lop

men

t Monthlyconcept meeting

Market scoutCollection

development jointly by

designer and market scout

Designer

Fashion follower approach with 12 collections per year minimising fashion risk

¢ Systematic research of market intelligence and identification of successful fashion trends

¢ Fast incorporation of market-proven fashion styles

¢ Operational value chain allows for 12 collections per year for each product division

¢ “Bestseller management”

~23-26 weeks

~11weeks

~5weeks


Attractive growth potential

Unique breadth of complementing growth drivers

ü

ü

ü

üü

ü

ü

2

Internationalisation

Market share potential

Licensing TOM TAILOR Denim

Controlled wholesale area

E-business

Retail store roll-out


16.65.1

FY 2007 FY 2009

Own operated

stores

E-business

Franchise stores

Shop-in-shops

Multi-label

87

29

2007 2009

CAGR: 73.2%

201159

2007 2009

CAGR: 12.4%Number ofstores

1,108757

2007 2009

CAGR: 21.0%

4,5125,625

2007 2009

CAGR: (10.4)%

CAGR: 81.0%Revenues (€mm)

Ret

ail /

B2C

Wh

ole

sal

e /

B2

B

¢ Fast store roll-out programme in domestic market

¢ Systematic expansion in lucrative international markets

¢ Systematic roll-out of mono-label franchise partner stores

¢ Significant demand from international franchise partners promising material growth opportunities

¢ Fast-growing area expansion across domestic and international department stores

¢ Significant demand from international wholesale partners promising material growth opportunities

¢ Historically established dense distribution network

¢ Diminishing in relative importance due to systematic expansion of controlled distribution and conversion of multi-label into SIS

¢ Rapid development of recently launched distribution channel

¢ Significant Capex-light roll-out opportunities internationally


Multi-channel distribution focused on controlled space driving growth and fostering brand reach

2

PoS

Number of customer accounts


Note: PoS, number of stores and customer accounts as of year-end (31 Dec)

Number ofstores

16

46.0

45.4 58.748.7

34.452.7

2007 2008 2009

Core international (€mm) Other international (€mm)


Established international presence

Steady internationalisation in core markets

Breakdown by region–2009

Germany 69.0%

International 31.0%

Total revenues 2009: €300.2mm


Established international footprint as strong base for continuous growth

2

¢ Balanced and diversified international brand reach

¢ Core markets Austria, Benelux, Switzerland and France accounting for 63.0% of international sales

¢ Controlled expansion in lucrative growth regions

Congruency between market potential and TOM TAILOR brand

Attractive size and growth of middle-income consumer segment

Increase in purchasing power

¢ Strategic decision to reduce expansion in Eastern Europe due to difficult economic environment in FY2009

¢ Today present in 35 countries

¢ International brand reach through >360 controlled points-of-sale

91.5101.3

93.2

20.7%7.2%

Benelux18.4%

Austria30.1%

Other 37.0%

Switzerland 11.3%

France 3.3%


¢ Significant economies of scale across major group functions, including

IT/Services

AdministrationHead office

Purchasing

¢ Continuous improvements in purchasing terms as a result of higher order quantities and increased buying power

¢ Significant further upside potential from optimised supplier base and higher volumes per supplier

Productdevelopment

¢ Significant cost dilution driven by economies of scale in product development

Strong profitability upside

Economies of scale: Cost dilution and positive scale effects driven by revenue growth

3

Retail distribution

¢ Significant scale effects resulting from fast-growing store-roll out and e-business

¢ Leverage on established retail infrastructure

¢ Increased maturity profile of retail operations

Sales organisation wholesale

¢ Optimised sales force capacity utilisation

¢ Full benefit of economies of scale as a result of in-sourcing of sales force


Strong profitability upside

Structural margin upside potential through systematic retail expansion

Retail/B2C10.3% Retail/B2C

25.5%

Wholesale/B2B 74.5%

2009

Increasing Retail contribution Average Retail store EBITDA margin¹

Wholesale/B2B 89.7%

2007

3

Retail–Recurring EBITDA margin Retail–Like-for-like sales growth

12.6%

2.8%4.6%

14.0%16.5%

2007 2008 2009

Excluding e-business Including e-business

¹ Pre retail overhead expenses

1.8%

6.3%

12.0%

2007 2008 2009

7.7% 8.3%

12.9%

12.8%

17.0%

16.3%

2007 2008 2009

Stores opened before 1 Jan 07 Stores opened in 2007

Stores opened in 2008

19

¢ Launch and development of e-business platform

¢ Optimisation of store/shop concept

¢ Expansion and optimisation of retail business

¢ Systematic expansion of controlled premium floor space through franchise operations

and shop-in-shops

¢ Implementation of EDI/Navision

Modification of product mix

¢ Launch of new product lines Denim Male and Denim Female

¢ Repositioning of product line WOMEN Casual


Experienced management team

Business revitalisation since entry of new management as base for systematic and profitable growth

Status

Expansion of controlled space

ü2007

ü2008

Key management initiatives

¢ Introduction of divisional structure

¢ Insourcing of sales organisation

¢ Upgrading of logistics platform

¢ Reduction of lead-times in standard processes

¢ Streamlining of supplier network

¢ Strategic focus on PoS marketing

ü2008

ü2009

In implementation

In implementation

ü2009

üEnd of 2006

Improvement of organisational

structure

Improvement of operational processes

4

ü2008

üDec 2006–2008

ü2008ü

Continuously

üContinuously

ü2008


Strong financial momentum

261.3

300.2283.5

2007 2008 2009

Key historical financials

35.0 37.8

22.1

12.6%7.8%

13.4%

2007 2008 2009

117.3137.7

111.3

42.6% 41.4%

45.9%

2007 2008 2009

8.5% 5.9%¢ Resilience to difficult sector

trading environment

¢ Superior growth momentum, outgrowing the European apparel market

¢ Temporary reduction of Eastern European business

Historical performance

¢ Extraordinary circumstances in 2008 as a result of sales force integration

¢ Recovery of EBITDA margin 2009 driven by revenue growth and realised efficiency gains

¢ Recent improvement in gross margins due to successful implementation of operational initiatives and economies of scale

Rev

enu

esG

ross

pro

fit

Re

curr

ing

E

BIT

DA

Growth potential

¢ Systematic retail store roll-out (Casual and Denim)

¢ Controlled wholesale growth via franchise and SIS network

¢ Strong wholesale order book 2010

¢ Fast-growing e-business

¢ International expansion in lucrative markets

¢ Continued materialisation of operational improvements

¢ Scalability of business model and rapid growth allowing degression of overhead costs

¢ Fast retail store roll-out

¢ Procurement chain efficiencies and better buying terms

(€mm)

(€mm) Margin

(€mm) Margin


Financial snapshot–Wholesale

237.5223.7234.5

2007 2008 2009

28.9

34.6

18.712.9%14.8%

7.9%

2007 2008 2009

(€mm) Margin

Wholesale–Revenues (€mm) Shop-in-shop format

Franchise formatWholesale–Recurring EBITDA


Financial snapshot–Retail

Retail–Revenues and PoS Casual stores

Retail–Recurring EBITDA

76.5

45.9

26.887

60

29

2007 2008 2009

Revenues (€mm) Number of PoS

9.2

0.5

2.9

12.0%

6.3%

1.8%

2007 2008 2009

(€mm) Margin

CAGR 07-09: 68.8%

Note: PoS exclude e-business

Denim stores

23

Use of IPO proceeds: Expansion

Retail store roll-out

¢ TOM TAILOR CASUAL concept

¢ 200 –250 sqm net selling area

¢ Capex approx. 1,000 €/sqm

¢ Inventory level 40-60k EUR

¢ TOM TAILOR DENIM concept

¢ 150 - 200 sqm net selling area

¢ Capex 1,000 €/sqm

¢ Inventory level 40-60k EUR

Funding of Shop-In-Shop expansion

¢ 30-50 sqm net selling area

¢ up to 350€/sqm contribution

60 –70 stores p.a.

250 SIS p.a. all divisions


24

Strengthening of balance sheet: PRE and POST IPO capital structure

POST IPO capital structure (as of March 31, 2010)

in €mm

PRE IPO capital structure (as of Dec. 31, 2009)

in €mm

Financialliabilities

Cash

∑ Net debt

∆in €mm

198.0 73.4- 124.6

14.1 27.5+ 13.4

183.9 45.9- 138.0


¢ Committed to progressive dividend policy with dividends increasing broadly in line with EPS growth

¢ Focus on reinvestment of operating cash flows in expansion of controlled distribution channels

Post-IPO dividend policy

25

Financial highlights QI/2010

1. Increase of consolidated net revenues + 6.7%QI/2010: €76.4 mmQI/2009: €71.6 mm

3. Like-for-like growth own operated retail stores + 5.8%(including e-Shop + 13.9%)

4. Increase of gross margin + 2.5%-pointsQI/2010: 47.0%QI/2009: 44.5%

5. Increase of recurring EBITDA of + 19.1%QI/2010: €9.9 mmQI/2009: €8.3 mm

QI/2009: 19.3 %2. Increasing retail contribution:

QI/2010: 26.5 %



Investment highlights–A proven business concept with a strategy for systematic and profitable growth

Vertical system-supplier

of lifestyle fashion

Attractivegrowth

potential

Strong profitability

upside

Experienced management

team

¢ Lean and vertical business model with full information control over entire value chain

¢ Fashion follower approach with 12 collections per year minimising fashion risk

¢ Strong growth potential across product divisions

¢ Multi-channel distribution focused on controlled space driving growth and fostering brand reach

¢ Strong economies of scale effects

¢ Structural margin upside potential through systematic retail expansion

¢ Business revitalisation since entry of new management as base for systematic and profitable growth

¢ Long-standing industry experience and track record at leading apparel players

1

2

3

4


Annual balance sheet

Assets Equity and liabilities

Recapitalisation 2006

(€mm, Dec Y/E) 2007 2008 2009

Intangible assets 145.9 147.1 139.9

Tangible assets 9.6 19.6 19.9

Inventories 30.9 30.8 31.4

Trade receivables 31.1 37.4 33.4

Cash and short-term deposits 7.9 11.4 14.1

Other assets 6.0 6.4 11.4

Total assets 231.4 252.8 250.1

(€mm, Dec Y/E) 2007 2008 2009

Total equity (52.0) (62.5) (68.2)

Financial liabilities 182.3 201.8 198.0

Pensions 0.2 0.2 0.2

Deferred tax liabilities 40.8 36.6 34.3

Provisions 15.3 14.5 13.5

Deferred income 0.0 5.9 5.1

Trade payables 39.8 44.7 50.9

Current income tax liabilities 1.2 0.8 5.7

Other liabilities 3.7 10.9 10.6

Total liabilities 283.4 315.3 318.3

Total equity and liabilities 231.4 252.8 250.1

¢ Negative balance of total equity due to the recapitalisation of TOM TAILOR in December 2006

¢ Recapitalisation classified as “business combination under common control”according to IFRS 3. Consequently, a step-up of hidden reserves was not realised under IFRS and the amounts distributed to shareholders decreased the group equity (positive equity under German HGB resulting from the additional step-up in the course of the recapitalisation)

¢ As a result, net loss in FY2006 amounted to €107.2mm


Annual income statement

(€mm, Dec Y/E) 2007 2008 2009

Revenues 261.3 283.5 300.2

% growth 8.5% 5.9%

Material expenses (150.0) (166.2) (162.5)

Gross profit 111.3 117.3 137.7

% margin 42.6% 41.4% 45.9%

Other operating income 8.5 10.2 12.8

Personnel expenses (31.0) (39.6) (41.3)

Other operating expenses (61.8) (77.0) (72.3)

Reported EBITDA 27.0 10.9 37.0

% margin 10.3% 3.9% 12.3%

Depreciation and amortisation (13.7) (18.2) (21.1)

Reported EBIT 13.2 (7.3) 15.9

Financial result (14.9) (21.7) (17.7)

EBT (1.7) (29.0) (1.8)

Income taxes 14.4 3.7 (3.8)

Net result 12.8 (25.3) (5.6)

Summary income statement


Annual cash flow statement

(€mm, Dec Y/E) 2007 2008 2009

Net result 12.8 (25.3) (5.6)

Depreciation and amortisation 13.7 18.2 21.1

Change of long-term provisions (1.1) (0.1) (0.1)

Cash flow 25.4 (7.3) 15.3

Interest on shareholder's loan 3.1 2.7 2.2

PIK interest on Mezzanine financing 1.3 1.6 1.9

Change of deferred taxes (16.8) 0.5 (1.9)

Change of short-term provisions 6.3 (0.7) (0.9)

Gain/loss on the disposal of fixed assets 0.0 (0.2) (0.2)

Change of inventories (9.9) 0.0 (0.6)

Change of receivables and other assets (15.0) (6.3) (1.4)

Change of payables and other liabilities 14.9 12.5 10.1

Other non-cash items 0.0 (0.1) 0.2

Operating cash flow 9.3 2.7 24.7

Purchases of fixed assets (7.9) (23.7) (11.5)

Proceeds from the sale or disposal of fixed assets 0.1 0.2 0.2

Investing cash flow (7.8) (23.5) (11.3)

Change in equity due to payments to and from shareholders 0.0 15.0 0.0

Change in debt due to payments to and from shareholders 0.0 0.0 9.0

Change of financial liabilities (6.4) 9.3 (19.7)

Financing cash flow (6.4) 24.3 (10.7)

Currency effects (0.0) 0.1 0.0

Net change in cash (4.9) 3.6 2.6


Assets Equity and liabilities

(€mm) Dec. 31, 2009 March 31, 2010

Intangible assets 139.9 138.7

Tangible assets 19.9 22.1

Deferred income tax 0.3 0.6

Inventories 31.4 32.2

Trade receivables 33.4 41.4

Income tax receivable 0.4 0.6

Other assets 5.1 2.5

Cash and short-term deposits 14.1 27.5

Prepaid assets 5.6 7.0

Total assets 250.1 272.6

(€mm) Dec. 31, 2009 March 31, 2010

Total equity (68.2) 84.8

Financial liabilities 198.0 73.4

Pensions 0.2 0.2

Deferred tax liabilities 34.3 33.5

Provisions 13.5 16.6

Deferred income 5.1 4.8

Trade payables 50.9 46.9

Current income tax liabilities 5.7 5.8

Other liabilities 10.6 6.6

Total liabilities 318.3 187.8

Total equity and liabilities 250.1 272.6

Q1 balance sheet


Q 1 income statement

(€mm) Q1/ 2009 Q1/2010

Revenues 71.6 76.4

% growth 6.7%

Material expenses (39.8) (40.5)

Gross profit 31.8 35.9

% margin 44.4% 47.0%

Other operating income 3.2 4.1

Personnel expenses (10.0) (11.4)

Other operating expenses (16.7) (18.7)

Recurring EBITDA* 8.3 9.9

% margin 11.6% 12.9%

Depreciation and amortisation (5.0) (5.2)

Reurring EBIT* 3.3 4.7

Financial result** (6.2) (4.0)

Recurring EBT* (2.9) (0.7)

Income taxes (1.6) (0.8)

Recurring net result*** (4.5) (0.1)

Summary income statement

*7.0m one time effectsfor IPO

**3.4m one timeeffects for restructuring

of financial liabilites

***10.4m totalnon-recurring

one time effects

32

Reconciliation to recurring net income

Reconciliation Notes

(€mm)

Reported net income -10.6

AdjustmentsIPO costs 7.0Release of former transaction cost 3.4PPA amortisation 2.0

30% tax shield on adjustments -3.7Deferred taxes on IPO costs 1.8

Adjustments total 10.5

Adjusted Net Income -0.1

Not adjusted for higher interest (net of tax) 1.7

Total 1.6

¢ Impact on EBITDA

¢ included in financial result

¢ included in depreciation & amortisation

¢ accrual due to IPO

¢ elimination of January to March LBO structure



Q1 cash flow statement

(€mm) Q1 2009 Q1 2010

Net result (3.4) (10.6)

Depreciation and amortisation 5.0 5.2

Change of long-term provisions 0.0 0.0

Cash flow 1.6 (5.4)

Interest on shareholder´s loan 0.7 0.8

PIK interest on Mezzanine financing 0.4 0.5

Change of deferred taxes 2.6 0.7

Change of short-term provisions (4.8) 2.5

Gain/loss on the disposal of fixed assets (0.2) 0.0

Change of inventories 3.4 (0.8)

Change of receivables and other assets (6.1) (6.9)

Change of payables and other liabilities 0.5 (7.0)

Other non-cash items 2.0 1.4

Operating cash flow 0.1 (14.2)

Purchases of fixed assets (7.1) (5.7)

Proceeds from the sale or disposal of fixed assets 0.2 0.0

Investing cash flow (6.9) (5.7)

IPO proceeds 0.0 143.0

Transaction costs due to IPO 0.0 (6.2)

Change in debt due to payments to and from shareholders 0.0 (32.6)

Change of financial liabilities 7.8 (70.9)

Financing cash flow 7.8 33.3

Currency effects 0.0 0.0

Net change in cash 1.0 13.4



International wholesale footprint

Wholesale operations

PoS and showrooms as of March 31, 2010SIS = Shop-in-shop

Germany Format PoSFranchise: 39SIS: 995Showrooms: 7

Austria Format PoSFranchise: 44SIS: 31Showrooms: 2

Benelux Format PoSFranchise: 10SIS: 26Showrooms: 2

Switzerland Format PoSFranchise: 9SIS: 93Showrooms: 1

France Format PoSFranchise: 6SIS: 22Showrooms: 1

Broad international distribution network

Stable and highly visible performance as a result of established pre-order system

Russia Format PoSFranchise: 21SIS: 4Showrooms: 1

Bulgaria Format PoSFranchise: 13

Slovenia Format PoSFranchise: 10SIS: 3Showrooms: 1

Croatia Format PoSFranchise: 8Showrooms: 1

Other Format PoSFranchise: 42SIS: 32Showrooms: 9

TOM TAILOR regional wholesale operations

TOM TAILOR core markets


International retail footprint

Retail operations

Netherlands PoSFull price 2Outlet 2e-shop 1

Market entry 2008

France PoSOutlet 1

Market entry 2009

Belgium PoSFull price 1Outlet 1

Market entry 2009

Switzerland PoSFull price 3Outlet 1

Market entry 2003

Italy PoSOutlet 2

Market entry 2009

Czech Republic PoSOutlet 3

Market entry 2009

Austria PoSFull price 15Outlet 2e-shop 1

Market entry 2004

Note: PoS as of March 31, 2010

¹ Joint venture

Ireland¹ PoSFull price 2

Market entry 2009

Northern Ireland¹ PoSOutlet 1

Market entry 2008

TOM TAILOR regional wholesale operations

TOM TAILOR core markets

Germany PoSFull price 44Outlet 16e-shop 1e-coop 2

Market entry 2002

company presentation - tom tailorir.tom-tailor.com/download/.../company_presentation... · tom...

Documents