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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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