Investor Presentaiton slide image

Investor Presentaiton

Key messages 1 The integration of Jawoll into the Group has gone well and EBITDA has grown. 2 The necessary pre-conditions for faster expansion in Germany - in terms of skills, infrastructure and a retail model which can generate attractive returns - are in place. 3 The Jawoll management team is highly experienced and is motivated to deliver growth. Jawoll has a stable and consistent track-record. They have opened 5 stores already in Q1 FY17, versus 1-2 per annum previously. Jawoll is now moving into a phase of faster expansion in Germany with plans this year for 10 stores sourced organically. 5 Given the fragmented and underserved nature of the discount variety retail sector in Germany, Jawoll now has the potential to become a second growth engine for the Group. June 2016 - Germany Analyst and Investor Day 28
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