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Financial Results for half-year 1 of 2008/2009 August 2008 – January 200 9. Strategy of operations under recession: controlling costs and boosting performance. 31 March 200 9. COMPANY IN HALF-YEAR 1 of 2008 / 2009 1 August 2008 to 31 January 2009. - PowerPoint PPT Presentation
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Financial Results for half-year 1 of 2008/2009
August 2008 – January 2009
31 March 2009
Strategy of operations under recession: controlling costs and boosting performance
Retain a positive sales dynamics compared to previous half-year
Generate a positive net result for half-year 1
Reduce operating costs
Restructure operations in Ukraine
Discontinue work on consolidation with Vobis and PC Factory
Launch the new release of A.pl e-commerce site based on ASP.NET MVC
COMPANY IN HALF-YEAR 1 of 2008/2009 1 August 2008 to 31 January 2009
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COMPANY IN HALF-YEAR 1 of 2008/2009 1 August 2008 to 31 January 2009
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PRIZES AND AWARDS
ACTION Pillar of Polish Economy
Rank 5 in Businessman.pl's ranking list of top ICT companies
Best Distributor 2007 and Company of the Decade according to the CRN magazine
Second Quality of the Year title for ActiveJet (Silver Quality Mark)
Rank 2 for ActiveJet website in the 3rd Virtual Industry Leader competition
Rank 3 among IT industry's largest companies, according to CBSF (Social and Financial Research Centre) research ordered by Gazeta Prawna. a popular Polish legal daily
• Sales revenue decreased quarter-on-quarter by 6.3%
• Sales revenue increased compared do half-year 1 of previous year by 4.9%
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Quarter 2 of 2008/2009
701,281 656,951
0
200 000
400 000
600 000
800 000
Q2 2007/2008 Q2 2008/2009
HALF-YEAR FINANCIAL RESULTSRevenue on sales (thousand PLN)
Half-year 1 of 2008/2009
1,206,4581,265,356
0
500 000
1 000 000
1 500 000
Q1-2 2007/2008 Q1-2 2008/2009
• Gross margin increased quarter-on-quarter by 4.2 PP
• Gross margin increased compared to half-year 1 of previous year by 3.6 PP
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Quarter 2 of 2008/2009
HALF-YEAR FINANCIAL RESULTSGross margin (%)
Half-year 1 of 2008/2009
8.2
12.4
0
5
10
15
Q2 2007/2008 Q2 2008/2009
7.8
11.4
0
5
10
15
Q1-2 2007/2008 Q1-2 2008/2009
Net profit increased quarter on quarter by 57.2%
Net profit decreased by 82.6% compared half-year 1 of the previous year
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Quarter 2 of 2008/2009
HALF-YEAR FINANCIAL RESULTSNet profit (thousand PLN)
Half-year 1 of 2008/2009
13,793
21,682
0
5 000
10 000
15 000
20 000
25 000
Q2 2007/2008 Q2 2008/2009
18,794
3,262
0
5 000
10 000
15 000
20 000
Q1-2 2007/2008 Q1-2 2008/2009
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[PLN thousand]
Quarter 2 2007/20
08
Quarter 2 2008/20
09 Change
Half-year 1
2007/2008
Half-year 1
2008/2009 Change
Sales revenue 701,281 656,951 -6.3% 1,206,458 1,265,356 4.9%
Gross profit on sales 57,447 81,659 42.1% 93,691 144,031 53.7%
Gross margin on sales 8.2% 12.4% 4.2 PP 7.8% 11.4% 3.6 PP
Cost of sales and marketing 27,488 30,664 11.6% 51,609 62,434 21.0%
Related to revenue 3.9% 4.7% 0.8 PP 4.3% 4.9% 0.7 PP
General administrative costs 9,293 6,954 -25.2% 20,079 13,742 -31.6%
Related to revenue 1.3% 1.1% -0.2 PP 1.7% 1.1% -0.6 PP
Other costs and operating losses 5,027 22,427 346.1% 5,912 68,370 1,056.5%
Operating result 22,816 26,628 16.7% 33,031 8,573 -74.0%
Net financial costs 1,359 1,211 -10.9% 1,962 2,766 41.0%
Net result 13,793 21,682 57.2% 18,794 3,262 -82.6%
Net profit margin 2.0% 3.3% 1.3 PP 1.6% 0.3% - 1.3 PP
DETAILED FINANCIAL INFORMATION
INCREASING DYNAMICS OF DISTRIBUTION
Compared to the first half-year of 2007/2008, the number of customers served increased by 6.08% (averaging to 8,940 per month).
The number of products offered by ACTION reached 14,899. The Company discontinued non-profitable items and distribution.
An average invoice contained 4.35% more items than in the first half-year of 2007/2008 (monthly average: 525,737 items).
Product description pages of the I-serwis platform recorded over 5.2 million hits per month, which is an increase by 22.64% compared to the first half-year of 2007/2008.
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STRATEGY IMPLEMENTATION1 August 2008 to 31 January 2009
INCREASING DYNAMICS OF DISTRIBUTION
Compared to the first half-year of 2007/2008, the average number of items per order increased from 8.83 to 9.41 (i.e. by 6.57%).
The Company started the process of deployment of its new warehouse management system, which will be put to operation on 31 August 2009 and is expected to as much as triple the efficiency of logistics processes.
The changes to methods of calculation of transport fees introduced in September 2008 resulted in more than doubling the participation of customers in the costs of transport.
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STRATEGY IMPLEMENTATION1 August 2008 to 31 January 2009
ACTION UKRAINA
Sales volume per square metre of shops was increased by approx. 27%.
Sales value per employee was increased by approx. 55%.
Planned improvements in the efficiency of the retail channel, given the continuous growth of performance and the investments in enhancing customer service levels.
Planned launch of a new sales channel:
Distribution of IT products
Supply for the Ukrainian market directly from the logistics centre at Zamienie via sales offices in Kiyev and Lvov
Special version of the electronic sales platform is being prepared for the Ukrainian market
STRATEGY IMPLEMENTATION1 August 2008 to 31 January 2009
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SFERIS
8 new shops opened: in Białystok, Dąbrowa Górnicza, Katowice, Konin, Łomża, Piła, Rzeszów, Wrocław
"Island" stalls purchased, primarily intended for sales of consumables
More "island" stalls to be opened in 2009
Changes of the Company's Management Board
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STRATEGY IMPLEMENTATION1 August 2008 to 31 January 2009
A.PL WEBSITE
A new release of the A.pl e-commerce site opened, based on ASP.NET MVC technology, which makes it the first such application in Poland
Launch of the recipes section, which allows adding ingredients from the selected recipe directly to the basket
Launch of the small household appliances section
Start of an affiliation scheme with Tradedoubler, starting co-operation with Onet.pl and Wirtualna Polska. the largest Polish Web portals
An increase in the number of orders exceeding 220% (January 2009 compared to January 2008) and a 15% increase in the number of customers
Expanding the range of products by adding premium delicatessen category
A delivery platform is planned to be launched within 2 months, which would allow goods to be shipped to customers in entire Poland
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STRATEGY IMPLEMENTATION1 August 2008 to 31 January 2009
Manufacturer
Logistics
Online technology
End customer
VISION OF DIRECTIONS OF TRADE DEVELOPMENT
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THANK YOU FOR
YOUR ATTENTION
Contacts for the press and representatives of the capital market
Ms Anna Bielińska – Corporate Communication Director
telephone: +48 22 332 16 96. email: [email protected]
Ms Dominika Lenkowska – Martis Consulting
telephone: +48 22 244 57 09. email: [email protected]
