Dave Forsey Chief Executive 19 July 2012 - Sports Direct International

financial highlights
The Financial Year ended 29 April 2012 was a 53 week year. In order to make a
comparison to last year, the Income Statement has been restated on a pro forma
52 week basis (“the Year”) unless otherwise specified.
• Group revenue across all divisions up 13.0% to £1,807m (2011: £1,599m)
◦ UK Sports Retail up 7.8% to £1,342m (2011: £1,245m)
◦ Online sales up 81.8% to £174m (2011: £96m)
◦ International Retail up 16.6% to £154.2m (2011: £132.3m)
◦ Brands division up 4.4% to £195.9m (2011: £187.7m)
Revenue (£’m)
1,259
2008
1,367
2009
1,451
2010
1,599
2011
1,807
2012
Underlying EBITDA (£’m)
150.2
2008
136.8
2009
160.4
2010
211.0
2011
235.7
• UK Sports Retail like-for-like 52 week gross contribution
increased by 0.7% against a World Cup comparative year
• Group gross margins decreased by 70 basis points to
40.5% (2011: 41.2%)
◦ UK Sports Retail gross margin decreased to 41.0%
(2011: 41.9%)
• Underlying EBITDA (before Bonus Share Scheme costs) up
11.7% to £235.7m (2011: £211.0 restated from £200.4m to
exclude Bonus Share Scheme costs)
• Underlying Profit Before Tax up 10.0% to £149.1m
(2011: £135.5m)
2012
Underlying Profit
Before Tax (£’m)
85.4
2008
68.2
2009
102.1
2010
135.5
2011
149.1
2012
Underlying Earnings
Per Share (pence)
8.57
2008
7.93
2009
12.39
2010
• Reported Profit Before Tax up 24.6% to £148.0m
(2011: £118.8m)
• Underlying Earnings Per Share up 11.4% to 18.74p
(2011: 16.83p)
◦ Underlying Earnings Per Share excluding Premium
Lifestyle up 18.4% at 19.93p
16.83
2011
• Record free cash generation of £192m (2011: £184m)
18.74
• Notwithstanding acquisitions and property purchases in
the year, Net Debt to Reported EBITDA ratio improved to
0.68 (2011: 0.74)
• Net Debt improved from £149m in 2011 to £145m in 2012.
2012
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