玩具反斗城Toys R Us（FUN）2017年年度报告「ASX」.pdf

1、We help people smile!2017 Annual ReportWe create,develop and market innovative brands that enrich lifestyles around the world.Our vision is driven by the values of integrity,creativity,innovation and passion.The heart of what we do is enriching lives and creating long-term business value,by building

2、 world-class lifestyle brands on a global scale.ContentsChairmans Report 2Financial Report 6Brand Builders,Global InnovatorsOur Story1Funtastic Annual Report 20172Chairmans ReportReview of operationsduring the past three years,the company embarked on a major turnaround strategy to reduce the relianc

3、e on the concentrated retail environment in australia and its high dependency on agency business.Whilst the market environment has continued to be difficult both domestically and internationally the results have been extremely disappointing.However,four significant achievements have been delivered i

4、n the last several months that have finally delivered the platform/foundations we have been working towards and effectively enable the company to better influence and control its own future.1.Debt Levelas announced to the market the company has been in long negotiations with its Bankers the national

5、 australia Bank with regards to the future and structure of the debt.thanks to the significant support of the naB who have been with the company over many years,we concluded on 30 august 2017 a debt restructure resulting in a$36 million reduction by way of a debt forgiveness.the full impact of this

6、is discussed in the recent capital Raising documents and will be included in the January 2018 half year accounts.this is a significant outcome for the company as the structure of the balance sheet now has more appropriate gearing levels for a business of its size and it enables the company to be a s