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Big Yellow Group PLC. Results for the Year End and Fourth Quarter ended 31 March 2003 7 May 2003. Highlights.

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Big yellow group plc
Big Yellow Group PLC

Results for the Year End and Fourth Quarter ended 31 March 2003

7 May 2003


Highlights
Highlights

  • Earnings from continuing operations for the year before exceptional item, depreciation, amortisation and tax of £1.3 million (2002: Loss £0.2 million)

  • Maiden dividend of 1.0 pence per ordinary share

  • 27 stores currently open with a further 5 stores committed providing 1.9 million sq.ft. of storage space when completed

  • Like for like annualised sales for 19 stores open throughout the year up 41%

  • Merchandise, insurance and other sales increased to 13.5% of storage income (March 2002: 12.9%)


Changing market
Changing Market

  • Store Profiles

  • Competitors

  • Supply and Demand

  • Big Yellow Trading Performance

  • Property Acquisitions and Property Market


Financial strategy
Financial Strategy

  • Balance Sheet

  • Cashflow and Capex

  • Funding Strategy









History
History

  • Early 1998 - market research commenced

  • Formed Cubic Self Storage in October 1998

  • Acquisition of Big Yellow Self Storage Company in January 1999

  • PRICOA investment in September 1999

  • AIM listing in May 2000

  • Placing and Open Offer in May 2001


Self storage market
Self-storage market

  • The market

    • US market

      • 34,000 stores

    • UK market

      • 2-300 stores

    • Potential UK market size

      • 1,450 stores

  • Key influencers

    • public awareness

    • population mobility

    • physical planning and constraints

    • focus on high density development on brownfield sites

    • small business formation

    • rising disposable incomes

    • high rate household formation


Big yellow model
Big Yellow model

  • Develop premium brand

    • attractive modern premises

      • prominent main road frontages

      • high quality fit out

    • broad client base - B2B and B2C

    • ancillary retail and products

  • Customer focus

    • customer service/loyalty

    • safe/secure

    • easy access 24 hours per day

  • Financial model

    • economies of scale

    • roll-out programme

    • asset backed


Economies of scale

Net Operating Income (£000s)

Costs (£000’s)

100,000 sq ft

25,000 sq ft

Net Operating Income

£1,150,000

Net Operating Income

Additional profit based on larger store format

100,000 sq ft

£000’s

Net Operating Income

£153,000

Costs £245,000

25,000 sq ft

Costs £420,000

Economies of scale


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