8-3-2007
Full Year Results 2006
New Maxeda Strategy Delivers Strong
Results
It was an important year for the new Maxeda. A year full of new ambitions, growth
opportunities and market share gains. A year of a Passion to Serve. A year of selling more,
sourcing better, saving costs and cash and synergy delivery. In short: A year of progress.
Financial Highlights 2006/07:
• Net sales (incl. concessionaires) increased by 5.2%. Same store sales up by 2.7%
• Operating EBITDA increased by 20.4% to EUR 295 million
• Gross Asset Investment of EUR 160 million
• Working Capital improvement of EUR 96million
Maxeda is a fast changing business. The focus is on achieving retail leadership in every
format with a focused strategy and strong execution. Maxeda increased sales at existing
stores and opened 77 new stores. In the Netherlands, Maxeda gained market share in
nearly all formats and product categories. It enhanced margins through better sourcing and
improved markdown management. It saved costs and delivered stronger cashflow
management. Maxeda exploited synergy opportunities across the group.
Maxeda invested to create long term sustainable growth. It internationalized the business,
40% of stores are now outside the Netherlands. It launched major projects spending
EUR 160 million including a new HEMA distribution centre, DIY IT systems, new stores and refurbishments. Maxeda invested in stronger management and organization.
Maxeda launched the Passion to Serve philosophy. Best practice sharing is now a major
facet of the new culture. It improved it’s communication, listening and reward programs.
Maxeda invested in a new pension scheme to the benefit of all stakeholders. Synergy
projects were launched in direct and indirect buying. New shop-in-shops were successfully
introduced in V&D and Bijenkorf. Maxeda is launching a new Smile! program to improve
colleague and customer satisfaction..
View the Review 2006