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Presentation for Benson Oak Prague – November 11, 2010.

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Prezentace na téma: "Presentation for Benson Oak Prague – November 11, 2010."— Transkript prezentace:

1 Presentation for Benson Oak Prague – November 11, 2010

2 1. Executive Summary 2. Business Review  Sales Channels  Product Management  Marketing Support  Operations  Manufacturing  Logistics  Quality  G & A  Financial Review Appendices 2

3 1. Executive Summary 2. Business Review  Sales Channels  Product Management  Marketing Support  Operations  Manufacturing  Logistics  Quality  G & A  Financial Review Appendices 3

4 4  SDA Markets YTY Jan-Sep 2009 versus Jan-Sep 2010 down – (4,8%)  Net Sales – 106% of budget, Adjusted Margin – 95% of budget  Preparation for hi-peak season, Execution of ETA Dealer Days in CZ and SK  New design – Eta with new face (POS, cataloug, shelfs)  Provision of technical communication and the subsequent preparation of samples for news spring 2011  Revision of the department to provide increased testing needs  IFA Fair in Berlin, Canton Fair 10/ Products for 2011, meeting with key suppliers ETA  Progress in implementation of new core system (BYZNYS) and logistics and forecasting software

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6 6

7 7 Note: SDA Market defined as “TOP14”, or 14 largest categories (hair clippers, hair dryers, hair styles, dental care, shavers, vacuum cleaners, irons, deep fryers, food preparation, hot beverage maker, kettles, toasters, deep fryers and breadmakers). Source: GfK and management adjustments. In CY2010 market continued to decline, albeit at a lower rate = (4,8 %) = (7,7 %) = 8,4%

8 8 Note: Data for Top 12 categories. Source: GfK. After years of decline, ETA’s market share appears to have stabilized

9 9 Note: Data for Top 12 categories. Source: GfK. Continuing weakness in consumer demand plays into hand of low-cost brands

10 1. Executive Summary 2. Business Review  Sales Channels  Product Management  Marketing Support  Operations  Manufacturing  Logistics  Quality  G & A  Financial Review Appendices 10

11 11 All distribution areas above Budget in Net Sales. Total ETA +9% and +14% vs LY. Total margin is 2pp below Budget and on LY level. Performance is driven by Czech 5% above Budget, 18% above LY. Slovakia overperforming vs Budget (+13%) but behind LY (-4%); Export up both vs Budget (+20%) and LY (+26%) Key distribution channels dynamics: Electro chains up by 41%, ETA shops up by 12% and Independents up by 11% New distribution channels (B2B, ETA eShop, Internet retailers) stabilized on 5% of ETA Net Sales Improvement in performance of Independent retailers and ETA export Regional Sales team restructured, # of regions reduced from 8 to 7 Set up position of KAM for regional chains New deals: Tesco CEE region centralized purchasing, Mall.cz holding direct cooperation ETA Unibag deal completed, Germany ETA export launched Performance Distribution Exports New Deals & Exports

12 12 Execution of peak season Sales support activities – ETA national leaflet (CZ - Oct, Nov, Dec; SK – Nov) – Product shows – Independent retail shop assistant competiton – Product display and set special offers – Pallete and special location products exhibitions in electrical chains – Christmass leaflets and catalogues advertisements – ETA new POS brand visibility consecutive roll-out Re-opening of 2 other ETA shops in new POS visibility (Olomouc and Praha 2) Exploration of new Export markets – Rumania, Iran, Armenia First purchase order to be delivered to Ukraine Distribution ETA shops Export

13 13 Net Sales: Total Company

14 14 Gross Margin: Total Company

15 15 Notes: (b) Includes Okay, Datart, Electroworld. (c) Includes: Makro, Globus, Tesco, Spar, Obi. (d) Includes sales to Repair centers and to Employees (“Bazar”). Also includes miscellaneous accounts previously included in “Chains”.

16 16 Chains: Specialists Hypermarkets Wholesale Independents ETA Shops Slovakia Export NET SALES LE 6+6 FY 2011 GROSS MARGIN LE 6+6 FY 2011

17 17

18 18 Gross Margin Q1 Growth (y-o-y)

19 1. Executive Summary 2. Business Review  Sales Channels  Product Management  Marketing Support  Operations  Manufacturing  Logistics  Quality  G & A  Financial Review Appendices 19

20 20 Vacuum cleaners Kitchen Activities  Briefs News 2011  LAUNCH 1476 BENO, 0473 CAPOLO, 1477 ADORO  ETA unibag project  PR Dualic, Mariner  Product news prezentation on ETA New Face News conference  BrIefs News 2011  LAUNCH 3151 sendwich maker 3in1  Electrical Steam Pot manual and cookbook, Grill cookbook  Product news prezentation on ETA New Face News conference  Briefs News 2011  LAUNCH Lancetta 6283 (2 SKUs)  LAUNCH AMARE 3285 ceramic  Microsite Beauty Beauty Briefs News 2011  LAUNCH Blander LAVADO 0048  LAUNCH Blanders SPESSO X015 (3 SKUs)  Product news prezentation on ETA New Face News conference

21 21 Vacuum cleaners Kitchen Activities  News 2011 Briefs vs Quotation sheets, samples request  ETA unibag project  PR 0473 CAPOLO, 1476 BENO, 1477 ADORO  PR ACU  News 2011 Briefs vs Quotation sheets, samples request  Blanders FRESSCO 0047 LAUNCH  New FISSO project  New BROS project  News 2011 Briefs vs Quotation sheets, samples  5 product lines strategy  DIGI LANCETTA project  LCD Mystic Pro project Beauty  News 2011 Briefs vs Quotation sheets, samples request  6831 Ice Scraper LAUNCH  0777 Kitchen scale LAUNCH  Anti-adhesive Pilot project  Multi function pan/remoska project  Coffee grinder innovation innovation

22 22 Notes: (b) Includes Cookers, Deep Fryers and Juicers.

23 23 Gross Margin Q1 Growth (y-o-y)

24 24 H1 Category Growth Top 5 Brands – Share (1- 8/2010 v. 1-8/ 2009) +3.04% -5.94% 1-8/ /2009 Share Change Groupe SEB117,3%18,5%-1,2% Sencor213,6%11,4%2,2% Eta311,9%13,8%-1,9% Philips47,5%9,6%-2,1% Hyundai55,5%5,2%0,3% 1-8/ /2009 Share Change Eta118,1%18,7%-0,6% Electrolux215,9%14,6%1,3% Zelmer39,4%9,7%-0,3% Miele48,1%10,0%-1,9% Sencor55,5%4,2%1,3% +2.2%+2.2% -4.7%

25 25 H1 Category Growth Top 5 Brands – Share (1- 8/2010 v. 1-8/ 2009) 1-8/ /2009 Share Change ETA 127,0%27,8%-0,8% Group SEB 212,9%10,0%2,9% Zelmer312,2%14,1%-1,9% BSH Group 49,5%8,6%0,9% Sencor 56,6%4,9%1,7% 1-8/ /2009 Share Change Philips135,8%36,9%-1,1% Groupe SEB233,7%31,9%1,8% Eta37,4%5,1%2,3% Braun44,8%8,5%-3,7% Concept53,9%5,1%-1,2% +1.4%+1.4% -13.2% +2.8% -11.1%

26 26 H1 Category Growth Top 5 Brands – Share (1- 8/2010 v. 1-8/ 2009) 1-8/ /2009 Share Change Remington121,8%21,9%-0,1% Groupe SEB219,1%15,2%3,9% Eta39,8%13,2%-3,4% Braun49,1%10,1%-1,0% Philips57,9%8,6%-0,7% -37.0% -9.1%-9.1% 1-6/ /2009 Share Change Eta130,1%32,8%-2,7% Groupe SEB228,1%33,7%-5,6% Sencor37,7%2,5%5,2% Concept45,9%3,9%2,0% Kenwood53,7%3,5%0,2% -37.0% -6.4%

27 27 A 21 SKUs, B 8 SKUs, C 5 SKUs

28 28 Zadavatel - Výrobce ModelNázevDesignPředpokládané zahájení SVNákladySoučasný stav ETA-View de LuxeEta 2160 Multifuncti on pan 2in1 (remoska) Plán jaro 2012 Vytvoření prototypu pečící pánve 2160 s hranatým víkem. Příprava funkčního vzorku. Ověření funkčnosti a bezpečnosti Stanovení odhadu nákladů ETA - LIANeta x021 Hand blender předpokládané zahájení sériové výroby 06/ USD Dokončuje se práce na vnitřní konstrukci podle schváleného designu, máme odzkoušený prototypový vzorek,navržené a projednané úpravy, víme předběžnou cenu forem a nákupní cenu, musíme definitivně potvrdit zahájení výroby forem nebo projekt zrušit ETA - LIANeta x089Hand mixer nový koncept s pohonem pro procesorovou nádobu,předpokládané zahájení sériové výroby 06/ USDProjekt zahájen, koncepce, technické rozhodnutí ETA - Xinbaoeta x584Kettle 2-3 designové verze na jednom základním těle,předpokládané zahájení sériové výroby 05/ USD, investice dodavatel 100% Máme vybraný design a poptané zahájení projektu u firmy Don Lim (investice dodavatel), čekáme na vyjádření od dodavatele

29 29 Zadavatel - Výrobce ModelNázevDesignPředpokládané zahájení SVNákladySoučasný stav ETA - Sanwelleta 7283 Digi Steam Iron předpokládané zahájení sériové výroby 12/ USD Dokončená výroba forem, vzorek na testování byl zaslán do Ety, doladit barvy, krabice. ETA - Sanwelleta x284 New Steam Iron předpokládané zahájení sériové výroby 08/ USD Dokončena vnitřní konstrukce. Máme odzkoušený prototyp, projednány úpravy,pracujeme na úpravě prototypu,následovat bude definitivní schválení výroby forem, předpokládané zahájení výroby forem 12/2010 ETA - Chunjueta x452 Vacuum Cleaner - Generoso redesign vysavače ETA 410,předpokládané zahájení sériové výroby 08/ USD Dokončuje se na vnitřní konstrukce podle schváleného designu. 3D data pro výrobu forem, formy 11/2010 ETA eta xxx LEONA, LEA Kettle nová skleněná konvice pro 08/2011, USD Konstrukce je hotová. Pracuje se na designu dle připomínek cílové skupiny. Zároveň se hledá nejvhodnější dodavatel na formy (95% nákladů)

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31 1. Executive Summary 2. Business Review  Sales Channels  Product Management  Marketing Support  Operations  Manufacturing  Logistics  Quality  G & A  Financial Review Appendices 31

32 32 Main activities POS material Internet Activities  Czech dealers day – Kurdějov (Brno) – classic sales day, Equitana (Březnice) - familly Eta day, Slovakia dealers day – Hotel Kaskady (Banska Bystrica)  Eta with new face - logo manuals, design of boxes, layout with emotions  new POS concept for shops of NMO (advertising, posters)  Dealer catalogue autumn/winter  advertising leaflet for Eta Klub inside Eta boxes  1. st place of categories Industry in competition WEB TOP 100  Competitions on Facebook  Russian version of websites  universal shelf for NMO,  Eta corner - Eta place in shop ElectroWorld  execution season activites „Business stairs“ Brand Others  Presentation Eta Brand strategy FY 2011  Tansfer of Brand strategy between Mrs. Kloudová and Mrs. Čomorová

33 33 Main activities POS material Internet Activities Brand Others  leaflet ETA (3 x Czech, 1x Slovakia)  start press campaign – product sets with, emotions in visual  Start online campaign – banners, PR, competitions  Customer s catalogue Eta A5, cataloug  products advertisement in leaflets of chains  Recruiting Eta Klub in visual press campaign  Regular Newsletter with advertising Eta Klub  Competition – gift for new members Eta Klub  New layout of Czech and Slovakia website (winter / christmas )  press conference „Eta with new face“ – present autumn new products  new universal shelfs on NMO, „Eta corner“ in shop Electroworld in Plzeň  Money Back Guarantee – first start as action 15/11-31/12  Comparasion of ATL Marc Com Philips, Groupe Seb, Zelmer  Correction of Brand strategy FY 2011/2012

34 nových registrovaných členů eta klubu (internet) 18% zákazníků nakoupilo v obchodě více než jednou (zdroj heureka.cz) 180 respondentů Umístění v prvních 3 výsledcích vyhledávání na google.cz (fulltext) „eta vysavač”, „eta mixér”, „eta žehlička”, eta náhradní díly” eta pekárna” FB – 3500 fans návštěvnost září Návštěvnost webu RU ETA klub Internet: ETA shops: Celkem: Projekty: Duplica Vital Spuštěn RU web Plnění EN verze stránek a příprava podkladů pro Ukrajinu Q1: ETA klub Q2: ETA klub ,46% Nárůst přihlášených členů ETA klubu přes internetové stránky. (jedná se pouze o členy kteří nenakoupili, ale jenom se registrovali)

35 35 Akviziční banner ETA klub Vyhlášení výsledků WEBTOP100 (kategorie průmysl) FB – 3800 fans Obrat= ,- 750 nových registrovaných členů eta klubu (internet) 20% zákazníků nakoupilo v obchodě více než jednou (zdroj heureka.cz) 250 respondentů návštěvnost říjen Návštěvnost webu RU ETA klub Internet: ETA shops: Celkem: Projekty: Příprava microsite Beauty (spuštění listopad 2010) Příprava microsite unibag (spuštění leden 2011) Finalizace vánoční internetové kampaně – schválení grafických podkladu pro bannery a layout Akviziční aktivity ETA klub: 1)Newsletter – příprava a odsouhlasení 2)Akviziční internetová hra – odsouhlasení konceptu 3)Napojení na eshop a logistika celé akce – proces logistiky + technické řešení ze strany Ebrány 123

36 36 Akviziční kampaň: Nábor ETA KLUB – newsletter 70,000 žen, flash hra o dárky, bannery, facebook Vyhlášení výsledků WEBTOP100 (kategorie průmysl) Obrat= ,- návštěvnost listopad/srpen říjen/červenec prosinec/září Obrat= ,- ETA klub členů Obrat= ,-

37 37 TV reportáž: ČT1 ( Odkaz na reportáž ), TV PUBLIC( Odkaz na reportáž ) Hodnotící kritéria: Použitelnost Grafický design Technické řešení Marketing Přínos pro uživatele Hodnocení kategorie průmysl: 1.www.eta.czwww.eta.cz 2.www.hoffmann.czwww.hoffmann.cz 3.www.isover.czwww.isover.cz 4.www.veoliavoda.czwww.veoliavoda.cz 5.www.tondach.czwww.tondach.cz

38 ETA s novou tváří! Praha, 7. října Společnost ETA, česká značka malých domácích spotřebičů, mění svoji image! Generální ředitel Jiří Pathy na tiskové konferenci připomenul známost a oblíbenost značky v České i Slovenské republice, pohovořil o její cílové skupině, ale především představil novou tvář společnosti ETA a produktové novinky na vánočním trhu hotel Holiday Inn přítomno přes 40 novinářů z life style časopisů: Program konference: Známost značky ETA v České republice Cílová skupina výrobků ETA Nová tvář společnosti ETA Produktové novinky na vánočním trhu 2010 Báječné receptyKatkaRezidencewww.peknevecicky.cz Blesk KvětyRodiče Design & HomeLa Cucina ItalianaStrategiewww.prozeny.cz Design & HomeJackie, Family Star Svět kuchyní Svět koupelen Moderní byt DomovLove Star Svět ženy Astrosat Fajn životLove StarSvět ženyAstrosat Family Star Marketing & Media Trend marketing Tipy a triky Pošli recept Chef Gurmán Marketing & Media Trend marketing Dáša Tipy a triky Pošli recept JackiePaní domu Vlasta Joy Právoblesk online

39 39 Společnost INCOMA GfK, s.r.o., Kavci Hory Office Park, Na Hřebenech II 1718/10, CZ Praha 4 Telefonické dotazování CATI Území celé České republiky, vzorek jednoho tisíce náhodně vybraných domácností Květen 2010 Kvóty byly nastaveny tak, aby reprezentativně odrážely následující parametry populace ČR: Pohlaví Věk Vzdělání Velikost místa bydliště Region místa bydliště Mezi hlavní cíle patřilo zjistit: jak lidé hodnotí jednotlivé značky z hlediska ceny a kvality jaké je povědomí o značkách v jednotlivých sortimentních kategoriích

40 40 ŘEKNĚTE, ZDA ZNÁTE TUTO ZNAČKU PODPOŘENÁ ZNALOST …znám z doslechu či vlastní zkušenosti N=1000, celkový vzorek

41 41 ŘEKNĚTE, ZDA TYTO ZNAČKY Z VLASTNÍ ZKUŠENOSTI ? PODPOŘENÁ ZNALOST …znám z doslechu či vlastní zkušenosti N=1000, celkový vzorek

42 42 ŘEKNĚTE, JAKÝM ZNAČKÁM DÁVÁTE PŘEDNOST? DROBNÉ SPOTŘEBIČE N=647, pouze ti co nakupují

43 43 ŘEKNĚTE, JAK BYSTE HODNOTIL ZNAČKY Z HLEDISKA CENY? (známky hodnocení, 1= velmi spokojen, 5 = velmi nespokojen) 

44 44 SPOTŘEBITELSKÉ HODNOCENÍ ZNAČEK  cena

45 45 ZÁVĚRY STUDIE VE VZTAHU KE ZNAČCE ETA 1.Značka Eta je na 1. místě v oblasti spontánní znalosti značek - 93% respondentů uvádí, že zná alespoň z doslechu značku Eta 2.Se značkou Eta má vlastní zkušenost 62% respondentů. Tímto výsledkem se řadí Eta na 1. místo z SDA výrobců 3.Značka Eta je první až druhá nejoblíbenější značka ze všech značek malých domácích spotřebičů 4.Hodnocení značky Eta jako ve škole (hodnotili respondenti, kteří mají se značkou zkušenosti): Cena – 1,8 Design – 1,9 Kvalita – 1,9

46 1. Executive Summary 2. Business Review  Sales Channels  Product Management  Marketing Support  Operations  Manufacturing  Logistics  Quality  G & A  Financial Review Appendices 46

47 47 Manufacturing NPI Test laboratory Activities  Omega/Wessel Werk – new project of vacuum cleaner - calculation and production of prototype  Gift sets are packed beauty.  Start of production for Tesco - the assembly according to customer's requirement  Production of 17.6 million CZK  Preparation of product documentation for news autumn 2010 and spring 2011  Preparation and participation at the Canton Fair Autumn 10/2010  Preparation of data for which use the IS Project Management  Transmission of the project design documentation vacuum cleaner ETA452 Generoso  Examination of the possibility of acquiring equipment for analysis of plastics  Inspection and testing supplies products for Autumn  Testing products for Spring 2010.

48 48 Manufacturing NPI Test laboratory Activities  Omega/Wessel Werk – new project of vacuum cleaner  Negotiations with Strix - working on preparing on Cooffe Maker and Tea Maker.  Completion of packaging products, gift sets  Production plan of 17.1 million CZK  Finalization of construction documents for a new development project, steam irons ETA284  Provision of technical communication and the subsequent preparation of samples for news spring 2011  Preparation of product documentation News spring 2011  Test samples of new products scheduled for introduction in autumn 2011  Revision of the department to provide increased testing needs  Preparing for the approval process independence test.  Audit activities and job descriptions of each department  Preparation costs for design firms Etafilter integration into the assembly. Others

49 Changing the existing non-compliant information system Existing information system solution is no longer sufficient requirements that the customer puts it. These include the following areas: - reporting system options - simplify process - use of modern technology in warehouse management - the use of sophisticated tools (BUSINESS BI Excellent) for obtaining the necessary statistics and outputs - unification of several incompatible systems into one June – January - Implementation Module Shop, Storage, Logistics and Customer Service is due to the large number of requests for changes and adjustments to the large number of software scheduled for completion by February 1, Currently has continued staff training and testing of software changes before running a sharp operation. There is an ongoing progressive training personnel and testing software changes before the sharp operation – In progres September - November - It is prepared by Project Management module, which will serve to monitor the progress and costs of implementing new projects in the ETA - In progres February – Data migration from existing to new system – Not yet February – April - The next phase will be incorporated into the contractual services provided by, and will run from implementation of its own production, including material storage and production engineering – Not yet April – complete implementation – Not yet 49

50 50 Stav k

51 1. Executive Summary 2. Business Review  Sales Channels  Product Management  Marketing Support  Operations  Manufacturing  Logistics  Quality  G & A  Financial Review Appendices 51

52 52 Warehouses + Spare parts Service Distribution Activities  The packaging system - better utilization of boxes and pooling orders  Optimization of storage according to the ABC analysis - Rychnov, Exportní and Celní warehouse  The new concept of service  New operational setup – IS Byznys  New forwarder for whole pallets distribution  Decreasing freight costs – viz warehouse optimization  Finalization of logistics contract with MAKRO  The complete change in employment contracts - Team Leaders and Administration  New KPIs for team leaders and administration  Discussions about the redemption of land for the new ETA  The finalization of tenders for the construction and financing of new ETA  Implementation PW Others

53 53 Warehouses + Spare parts Service Distribution Activities  Potential - reducing storage space in 3PH, lowering the price per m2 and increase services  Preparation and distribution of sets (product and gift)  Analysis of a new method of packaging - bigger Stretch film machine, special gift boxes  With JKR prepare and implemented a concept of service after go life - IS Byznys  Preparation of new positions - storekeeper and removaler  Negotiation with external services about new prices  Reduction count of external services  Negotiations with company SETTO about the unique method of distribution - mainly the potential savings on packaging material  Negotiations with (Roman Šeblem) Okay about the possibility of the deliveries to central warehouse  Signatures of contracts for future contract for the purchase of land for new ETA  Pallet respectively MNG packaging - the potential change the boxes  Optimization of spare parts purchase  New proces for launch new products Others

54 54 Value of Stock  Wrong inventory structure has led to increased levels of inventory in the summer months  In summer was lower sales than we plan  High stock level for the season  The plan curve at the end of FY2011 declining faster than reality (the data are currently debugging) Inventory turnover  In the summer month, the stock turnover was less than the plan and the DOH's was higher  The same reason as in Value of stock  The curve at the end of FY2011 forecastovaná declining faster than reality (the data are currently debugging)

55 55 Freight costs  The last year 1.83%, was reduced, but the plan has not yet been reached – (current 1.62%) – red column  Lower sales than plan  Trouble with invoicing  Changing the type of loading (MAKRO), the new forwarders The costs for repairing  Repairing costs increased over last year from 306 CZK to 332 CZK today  Wrong control of repair product distribution - service Hlinsko x external services  Changing the processes of service Hlinsko and complete service network  The introduction of KPIs for individual workers - greater involvement

56 1. Executive Summary 2. Business Review  Sales Channels  Product Management  Marketing Support  Operations  Manufacturing  Logistics  Quality  G & A  Financial Review Appendices 56

57 57 China Local quality Projects Activities  Preparation of coffee mill ETA 0067 (focusing on the modifications, tests in the test laboratory)  Control Plans - to ensure continuous innovations for the Spring 2011  Control Plans – actual status - 60  Deliveries TESCO  Analyzer plastics company GUT /NOT - open collaboration with the Faculty of Chemical Technology in Pardubice-based authentication IMD-cooperation with ETA project manag  Process Mapping in servicing ETA -> suggestions for improvements, setting new processes  The ”Project Management“ in the IS Business – cooperation with JKR and Mrs. T. Kožuská  ISO 9001:2008 – Update and create a process map current processes + cards Others  Canton Fair 10/ Products for 2011, meeting with key suppliers ETA  IFA Fair in Berlin  Support for Chunju suppliers in China to launch serial production of the ETA-863,ETA-865, ETA- 861 modifications  Verification of payment method options within the ETA Office Shenzhen

58 58 China Local quality Projects Activities  Select your product from Canton r provide samples for ETA CZ  Check the current status of projects ETA products  Support for the implementation of the signing of a new contract supplier in China  Defining new rules for price negotiation in the process of embedding the standard ETA target end of October  Financial audit in the office  Production of coffee mill ETA 0067 (focusing on the modifications, tests in the test laboratory)  Strengthened control of the first delivery to ETA Hlinsko News Christmas 2010  Control Plans - to ensure continuous innovations for the year 2011  Deliveries of ETA x865  The ”Project Management“ in the IS Business – cooperation with JKR and Mrs. T. Kožuská  Process Mapping in servicing ETA -> suggestions for improvements, setting new processes  Process SP (spare parts)– effective set-ordering spare parts  ISO 9001:2008 ->ISO 9001:2008 – Update and create a process map current processes + cards => implementation to QMS  Improving internal communication system of quality management Others

59 59 Legenda: - Total product return ETA% (the proportion of defective products sold products) - Sales in units CR + SR for the period

60 60

61 61 Dodavatelské reklamace 2010 level of performance complaints costs 42,15% increase in the success of outcomes analysis Factor Three, press the QCR 8Doing 'validation of process, release products, according to CP, effective communication, claim cost -. Liantek,Donlim,KingClean, TOP 20 dodavatelé produktPO/POV,závadaprioritadodavatelrekl./upoz.zaháj.rekl.skut. nákl.přizn.nákl.obdrž.nákl. ukonč.rekl.poznámka 2140vys. návratnostCGalyR $0,00$1 613, CShunkangR $2 266,00$1 270, odečet AKing CleanR $864, odečet komponentSilitalR $58, vys. návratnostBConvideR $1 318,75$312, víkoADon LimR $761, přijata NO komponentContrexR $21, komponentWuhanR $18,15 polovina června vys. návratnostBLianchuangR $3 994,37$3 969, kabel,elektronikaALenaU ,508, komponentKing CleanR $31, žehlící deskaBSanwellU přijata NO x582vys. návratnostASupremeR $0,00$3 500, , není smlouva 6450PCBAChunjuR $280, , komponentMerlettR $1 375,00 odečteno z faktury , ,9komponentCapitaniR $330,00$269, dobropis 0027příd.strojky BJTWTR $920,11 $1 022, komponentIrcaR $26,00$8, odečet z faktury 2140vys. návratnostCGalyR $0,00$3 227, , ,110komponentMerlettR $80, rozlepené krabiceBLenaR $178, krabic zdarma komponentContrexR $21, x582spínačASupremeU AChunjuR $4 199, PCBBLianchuangR $9 696,96 $3 040,96 poštou, další prasklé pláštěASupremeU příd.strojky BJTWTR $721,80 $802, vys. návratnostCGalyR $0,00$3 227, AEternalR $5 535, AGalanzR $7 257, ADon LimR $4 948, AChunjuR $2 681, špatná funkce přístřikukomponentArieteR $3 671, AKing CleanR $4 765, BConvideR CLundarR $5 413, ND rámy víkaADon LimR komponentMerlettR $242, ušpiněné podstavceADon LimU přijata NO DArieteU celkem $ ,43$47 364,78$22 654,31

62 1. Executive Summary 2. Business Review  Sales Channels  Product Management  Marketing Support  Operations  Manufacturing  Logistics  Quality  G & A  Financial Review Appendices 62

63 63 Recruitment & Organization Changes Performance & Rewards Activities  Personnel Audit - pilot project in operations dpt.  Recruitment : Seasonal staff in central storehouse (13), Product Management Leader, Development Designer, IT Specialist, ETA Shop Seller, Sales Officer, Mrk Communication Manager  Organization Changes: Call Centrum (report to CMO), Product Management (report to CEO)  Pilot project of new Adaptation program  Q performance evaluation process in 10/2010 → TOP 20 - workers (waged employees) → Q Bonus- managers, specialists, sales dpt.  Implementation of new compensation and assessment system (in operation dpt.) → Individual KPIs defined → Compensation system redesign (according ETA standards) Training & Development  EU Funds- ETA obtained a grant CZK („Increasing business competitiveness with ETA a.s. employees training“)  Sales skills training for ETA Shop Sellers

64 64 New directions Unions Activities  Health & Safety Policy (incl. related annexes) – elimination of risk of penalty 2 MIO CZK  Fire Safety Policy (incl. related activities)  Work Accident Compensation Process  Collective bargaining  proposal of new collective agreement designed in 08/2010  09 – 10/ negotiation process leading (costs reduce, wage policy keep out of Collective agreement, cut down the influance of labour unions)  Redundant work force (6) – negotiation process leading  Health Accident Prevention – revision of working places, Traumalological Plan defined, Safety training of First aid  Disciplinary proceedings (4 cases) Others Q1 ActQ2 ActQ3 planQ4 plan seasonal staff Head Count (FTE)

65 1. Executive Summary 2. Business Review  Sales Channels  Product Management  Marketing Support  Operations  Manufacturing  Logistics  Quality  G & A  Financial Review Appendices 65

66 Sales 6% over plan, Margin 5% below budget, EBIT and Net Income in line with budget thanks to lower Warranty costs, Marketing costs and Shipping out costs Cash flow worse by advance build-up of inventory; financed by faster draw-down on credit facilities EBITDA covenant was in breach as at Sepetmber 30, as well as higher inventory DOH. Inventory DOH covenant remains uncertain, other covenants should be met based on latest forecast as at December 31 and March 31 Revised forecast suggests short-term funding gap in November; will be solved by usage of wasted asset credit (factoring) or increase of past due payables 66

67 67 (a) Adjusted Net Income = Net Income + Amortization of Goodwill (2008 Carve-out) and 2008 Marketing campaign. Refer to next page Contribution Margin in line with budget thanks to lower Warranty costs and Shippig out costs Adjusted Net Income in line with budget

68 Adverse CZK/USD rate fluctuation in period April-July 2010 – negative effect on Gross Margin of 2 MCZK in Q2/2011 compared to Q1/2011 Higher transport costs in Q2/2010 – negative effect on Gross Margin of 0,5 MCZK in Q2/2011 Sale out of class “D” goods (Air Conditions) – average margin on YTD basis of class “D” is 6% Cash flow worse by advance build-up of inventory; financed by faster draw-down on credit facilities EBITDA covenant was in breach as at Sepetmber 30, as well as higher inventory DOH. Inventory DOH covenant remains uncertain, other covenants should be met based on latest forecast as at December 31 and March 31 Revised forecast suggests short-term funding gap in November; will be solved by usage of wasted asset credit (factoring) or increase of past due payables 68 Purchases made earlier for higher CZK/USD rate significantly influenced Q2 Gross Margin,

69 69 Draw down scheduled for 1.7. took place few days earlier Higher trade receivables due to sales in September Seasonal build-up of inventory happened earlier in Q1/2011

70 70 Cash Flow before Bank Debt Repayment (CZK in millions) Higher than planned inventory – pre season stock level reached earlier

71 71 ONLY MERCHANDISE AND FINISHED GOODS INCLUDED Higher inventories forecasted in order to satisfy customer demands in FY 2012

72 72 CASH DEBT OUTSTANDING & DRAWN % OF AVAILABLE (ACTUAL/LATEST EST vs. BUDGET) L/C OUTSTANDING & DRAWN % OF AVAILABLE (ACTUAL/LATEST EST vs. BUDGET) Higher inventories financed by loan

73 73 RECEIVABLE TURNS (R / S / 360) INVENTORY TURNS (I / S / 360) SOLVENCY RATIO (E - GW / A) EBITDA CUMULATIVE Note: Additionally, Interest covered is measured, but only on 31/12/2010 and 31/3/2011. Covenant breach!

74 On August 12, we met with financing banks to discuss Q1 results and covenant breach. – Technical breaches of covenants are not viewed as material Inventory management issues viewed as “technical” and imminently solvable, but concerns over sales growth and market share remain On September 15, meeting with banks took place to discuss YTD sales and upcoming season expectations – Banks were satisfied by presentation of CEO and – Subsequently CSOB approved earlier increase of credit limit by 10 MCZK in September – Nevertheless, we have been left in no doubt that success or failure of the upcoming season will determine if facility will get rolled-over in spring Q2 results have been reviewed by banks 74

75 1. Executive Summary 2. Business Review  Sales Channels  Product Management  Marketing Support  Operations  Manufacturing  Logistics  Quality  G & A  Financial Review Appendices 75

76 76 Layout for POS „Péče o tělo“

77 77 Recruiting leaflet in boxes

78 78 Eta advertising in Makro leaflet New poster for Eta pots and pans

79 79 Proposals Eta advertising in X-mas time

80 80 1st Eta leaflet (A3)

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91 91 OperationBase Value CurrentTargetLong Term Goal (FY 2010)(actual Q)(FY 2011)(FY 2013) 1.Total cost / total company sales7,5%6,73%7,3%7,1% 2.Dep.cost 4100 / total company sales4,3% 3,89%4,0%3,75% 3.Dep.cost 4400 / total company sales 0,42%0,33%0,36%0,30% 4.Freight cost dep / total company sales1,85%1,58% 1,40%1,35% 5.Reliability of supply of the required date 85%95%97,5%98% 6.Percentage of cover demands – SP till 3 days85%96%96%98% 7.Freight cost dep / total sales dep ,0%6,64%7,0%6,6% 8.Stock turnover for SP320 days301 days90 days85days 9.Average cost per repair in Hlinsko + external services285CZK335CZK270 CZK250CZK 10.Average time per repair in Hlinsko + external services8,5 days5,86 days7,2 days7 days 11.Number of repaire per employee per day13,8 rep15,1 rep14,44 rep16 rep

92 92 Base Value Current Target Long Term Goal (FY 2010) (actual Q) (FY 2011) (FY 2013) 1.Defect rate 7,53% 8,02% 7% < 5,7 % 2. Returned the cost of poor quality 47,6% 42,15% 60% 80% 3.Control plan (SKUs ) % new products 4.ISO 9001 ISO9001:2000 ISO9001:2008 surveillance audit according to ISO continual improvement of the Quality management system 5.Supply contracts (TOP20 CN suppliers ) 0% 5% 25% > 90% 6.Project of testing laboratory in China -- prepare for the possibility of testing the products directly in China – verification testing.Select equipment in Europe company GUT 1.Quality manual for year 2011 update and replenishment

93 Market Share: Cumulative 12 months results for 12 SDA categories (source: GfK). Share measured in CZK (“Value”) terms. Note that GfK publishes data on bi-monthly basis with 1.5 month delay. Therefore, in Q4 QBR we show results through February and in subsequent Q1 QBR we will show results through June. Base and Target values are shown on calendar year basis. Market Leaders Sales: The percentage of total Net Sales realized in product categories where ETA holds #1 or #2 share (based on GfK). Currently, this includes: Vacuum cleaners, kettles, hand mixers and bread-makers. Inventory Days : Calculated monthly as Inventory (Net) / Cost of Sales for last three months / 90. Shown quarterly and annual values are averages of three and twelve months’ values. Receivable Days : Calculated monthly as Receivables (Net) / Sales for last three months / 90. Shown quarterly and annual values are averages of three and twelve months’ values. % of Overdue Receivable : Calculated monthly as Overdue Receivables (Net) / Total Receivables (Net). Shown quarterly and annual values are averages of three and twelve months’ values. Defect Rate: Total number of warranty claims / Total number of sold units. Calculated on a cumulative basis. Order Lead Time: Average number of days between date of order placed (ETA system) and date of goods delivered to ETA. 93

94 94 NOK supply in % of the total supply of each supplier OK supply in % of the total supply of each supplier The annual evaluation of suppliers with the requirements for products => selection of suppliers according to quality of process stability. ETA CZ for Chinese producers suppliers evaluation structures in 2011

95 Process – effective activities in service ETA Hlinsko Process – logistik new packaging possibilities Process – possibilities for material testing – equipment Process – continual update procedural maps Process – externaly activities – resulting and implementation into handbook of quality Process – personal reduction high job flexibility in China office Process – communication improvement Process SP (spare parts) – effective set-ordering spare parts Process „Project management“ – IS Business Process - six sigma finalizing basic project 95 Support and cooperation in all process across company ETA

96 96 The proportion of defective products in servicing ETA ETA on products sold during the period leden August Course of return depends on the amount of sales and quality of entries for selected products The negative trends caused by product např.konvice ETA 2596, ETA 0172 fryer, vacuum ETA x466, bakery ETA7149, 2149, kuch.robot ETA0027, chopic ETA a partial failures - these affect the overall trend.. Ensuring the quality of news - our own projects, process news release, acceptance and acceptance by the Control Plan, the goal of PQA China


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