Accent Group Ltd · ASX:AX1
Accent — Investor Presentation (August 2023)
20 slides from Accent's investor presentation, Aug 24, 2023
Slide 1: Results Presentation
Results Presentation Financial Year ended 2 July 2023
Slide 2: Contents
Contents The Accent growth journey 2 Value creation and investor value proposition 3 Operational highlights 4 FY23 results summary 5 Operational update 6 Dividend and trading update 10 Appendix Accent Group FY2023 Results Presentation 1
Slide 3: The Accent growth journey
The Accent growth journey $1.57b sales inc. Owned sales franchisees1 ($ Millions) Demonstrated track record of retail sales 1,393 growth driven by 1,103 772 968 store rollout and new 807 banners FY19 FY20 FY21 FY22 FY23 479 stores 524 stores 638 stores 762 stores 821 stores Expansion of omni- ✓ Clic
Slide 4: Value creation and investor value proposition
Value creation and investor value proposition Total Shareholder Return(1) comparison of Accent and the ASX200 (30 June 2013 to 30 June 2023) • A market leading digitally integrated 1,000% consumer business with 35 websites, Total Shareholder Return since 30 June 2013: 9 owned and 17 distributed bran
Slide 5: Operational highlights
Operational highlights A new record year… Total Sales (inc Franchises)¹ EBIT $1.57 billion $138.8 million +23.7% on FY22 +122.9% increase on FY22 FY23: 53 Weeks Vs FY22: 52 Weeks Stores Comp Performance New Stores 10.2% 80 20 18 22 new stores opened new stores opened LFL1 store new stores opened sto
Slide 6: FY23 results summary
FY23 results summary Key Metrics FY231 FY22 % $’000’s 53 Weeks 52 Weeks Change Group Sales (inc. Franchisees) 1,566,141 1,266,557 +23.7% EBITDA 298,221 213,565 +39.6% EBIT 138,788 62,276 +122.9% PBT 119,616 46,592 +156.7% NPAT 88,653 31,464 +181.8% R.O.E. 20.1% 7.1% Inventory 239,606 241,631 Net deb
Slide 7: Operational update
CHANGE PIC Operational update
Slide 8: Digital
Digital Digital Sales Growth $265.4 m $260.5 m $209.9 m $126.5 m Digital sales increased to $105.5 m $260.5m, 211.0% on FY19 $141.4 m $100.9 m comparative $83.8 m $89.8 m $159.9 m $134.0 m Digital sales contributed to $44.8 m $109.0 m 19.1% of $39.0 m $51.6 m total retail sales1 FY19 FY20 FY21 FY22
Slide 9: Customer & Loyalty
Customer & Loyalty Accent Group Contactable Customers (Millions) Members (millions) 9.3 9.8 8.4 6.8 4.8 FY19 FY20 FY21 FY22 FY23 • 9.8 million contactable customers • Platypus, Hype and Skechers continue to deliver growth through driving engagement with their Loyalty Programs • Loyalty program drivi
Slide 10: Retail, Wholesale & Vertical Owned Brands
Retail, Wholesale & Vertical Owned Brands Retail & Wholesale Store Network1 • Opened 80 new stores • Transitioned 15 stores from discontinued brands to existing brands • Strong retail performance in all major banners 762 821 638 479 524 • 22 Nude Lucy stores now trading in Australia • Wholesale sale
Slide 11: Growth plan update
Growth plan update ✓ Continued roll-out of new stores, with 80 new stores opened in FY23 Stores ✓ Company sees a continued store roll-out with at least 50 new stores planned to open in FY24 Distributed brands ✓ Growth from our existing and new distributed brands Nude Lucy ✓ Growth from a planned rol
Slide 12: Dividends and trading update
Dividends and trading update
Slide 13: Dividends and trading update
Dividends and trading update • Accent Group has announced a final dividend for FY23 of 5.50 cents per share, fully franked, payable on 28 September 2023 to shareholders registered on 14 September 2023 Dividends • Accent Group continues to be defined by strong cash conversion and the consistent stron
Slide 14: Appendix
Appendix Accent Group
Slide 15: Store network and distribution agreements
Store network and distribution agreements Store Network Store Network Jun-23 Other Distributed Hype, Subtype Glue, Nude Lucy, Store Network 1 Platypus Skechers TAF Other Brands Discountinued Total Brands Trybe Stylerunner Stores as at FY22 168 153 153 90 106 55 8 29 762 FY23 Stores Opened 20 16 1 13
Slide 16: Gross margin and FX rate
Gross margin and FX rate Statutory Gross Margin % and FX Rate Overview 59% 0.80 58% 0.75 0.75 57% 0.74 0.75 56% Gross Margin % 0.71 55% 0.70 FX Hedge Rate 0.70 0.70 0.70 54% 53% 56.1% 56.1% 55.8% 55.2% 54.8% 0.65 52% 54.2% 52.7% 51% 50% 0.60 FY17 FY18 FY19 FY20 FY21 FY22 FY23 Gross Margin FX Rate Ac
Slide 17: FY23 summary of financial performance
FY23 summary of financial performance Financial Summary— Comparable Financial Information Operating Highlights % • Total company owned sales of $1.39 billion, up Profit & Loss ($000's) FY23 FY22 Change 26.3% on prior year. Owned sales 1,393,257 1,103,488 26.3% • Strong sales results were achieved ac
Slide 18: Balance sheet
Balance sheet Balance Sheet Commentary • Inventory has decreased since H1 FY23 due to 2 Jul 2023 1 Jan 2023 26 Jun 2022 improvement in inventory management offset by an $000's FY23 H1 FY23 FY22 increase in 80 stores since June 22. Trade receivables and prepayments 40,433 53,709 55,895 Inventories 23
Slide 19: The Accent business model
The Accent business model Accent Group’s mission is to be the market leading, digitally integrated retail and distribution business, in the performance lifestyle market for footwear, apparel and accessories across Australia and New Zealand. The Accent Business model Scalable, flexible and defensible
Slide 20: Notice and disclaimer
Notice and disclaimer • This presentation has been prepared by Accent Group Limited ABN 85 108 096 251 (Accent Group or Company) and is general background information in relation to Accent Group and its activities current as at the date of this presentation. It is information given in summary form a