Giordano International Limited · HKEX:709
Giordano International — H1 2025 Earnings Presentation
43 slides from Giordano International's earnings presentation, Aug 29, 2025
Slide 1: Giordano 2025 1H Results – Analyst Day
Giordano 2025 1H Results – Analyst Day 29 AUGUST 2025
Slide 2: Beyond Boundaries Strategy 2030
BEYOND BOUNDARIES STRATEGY 2030 To transition Giordano into a growth company
Slide 3: Beyond Boundaries
Beyond Boundaries We are in our first year of our strategic 5 year cycle REVITALIZE & RESET RECALIBRATE RECONNECT 2025 2027+ 2026-2027 2024 Enhancing Fundamentals Revitalize the brand portfolio Regain our position in Greater China (ML China + A year of Strengthening our Go-To-Market Strategy
Slide 4: Beyond Boundaries strategy has key strategic choices
Beyond Boundaries strategy has 4 key strategic choices Brand Digital Greater One Portfolio First China Giordano Men, Women, Junior • Revitalize Giordano • Digital • Mainland China • Centralized HQ • Beau Monde by Transformation Brand revitalisation Functions Giordano • eCom Acceleration • Marketing
Slide 5: 2025 A Year of Reset: P&L Overview – First Half 2025
2025 A Year of Reset Laying the groundwork for sustainable growth P&L Overview – First Half 2025 Group Revenue Improved OPEX to sales Net Profit Interim 7.5 HK performance in ratio down dividend of Cents +3.8% Net Sales 4 Key Strategic Inventory down HK$121m Per share (Core Business) Choices YOY (vs
Slide 6: Net Sales growth by Region (Core Business)
Net Sales growth by Region (Core Business) Mainland China +12% Physical -11% Online +29% Total Revenue +3.8% GCC +2% -2% Hong Kong Taiwan -2% Southeast Asia and Wholesale to overseas Australia (exclude Indonesia Giordano -6% franchisees Indonesia) +34% -1%
Slide 7: Net Sales performance by Region (non-Giordano Brands)
Net Sales performance by Region (non-Giordano Brands) Indonesia Non-Giordano -23%
Slide 8: Growth in 1st Half in Strategic Growth Areas
Growth in 1st Half in Strategic Growth Areas 1H Q1 Q2 Digital First (Online) +26% +18% +32% Mainland China +13% +8% +18%
Slide 9: Hong Kong, our Home Market, is improving performance
Hong Kong, our Home Market, is improving performance against a retail environment which is declining Q1 Q2 Giordano -6.5% +2.2% Apparel Industry* -9.7% -1.4% *Source: HK Census and Statistics Department
Slide 10: Difficulties in..
Difficulties in.. Indonesia South Korea Non-Giordano Brands
Slide 11: 1H Revenue Growth by Brands
1H Revenue Growth by Brands (in HKD million) Men 1,127 -0.7% Women 380 +10.5% Junior 86 +16.2% 1,593 +2.6% 122 Flat 93 +49.7% 154 +18.5% eShop 11
Slide 12: Success Stories: Korea Collection
Success Stories We launched our Korea Collection in Mainland China online and in Hong Kong
Slide 13: Success Stories: Minions in May
Success Stories Minions in May Units sold 132,271 Sell through 71%
Slide 14: Success Stories: Liquid Touch in April
Success Stories Liquid Touch in April Units Sold: 456, 425 Sell Through: 55%
Slide 15: Opening of Giordano Ladies in Causeway Bay
Opening of Giordano Ladies in Causeway Bay
Slide 16: Our Focus Areas for 2025
Our Focus Areas for 2025 Year 1 of Beyond Boundaries – Reset Mainland China eCommerce Investment into Reset Acceleration Brand & Product Sourcing People & Culture 16
Slide 17: Overview
Overview • Group revenue increased by 1.6% to HK$1,934 million (1H24: HK$1,903 million) Online business achieved 26.1% YOY growth Excluding the adverse impact from our Non-Giordano Brands in Indonesia, up 3.8% • Gross margin -3.3pp to 55.6% (1H24: 58.9%) 1. change in channel mix with higher on
Slide 18: Revenue by market
Revenue by market +1.6% to HK$1,934 million (1H24: HK$1,903 million) • Group revenue would be up 3.8% if excluding the adverse impact from the Non-Giordano Brands • Greater China retail +4.4% Strong performance of online business in Mainland China +29.1% ‘Digital-First’ strategy • Southeast Asia
Slide 19: Revenue by channel
Revenue by channel Offline -4.5% (-2.7% if excluding Non-Giordano Brands) Reset plan in Mainland China Focus on Southern China Online Surged by 26.1% Q2 +32.3% Mainland China +29.1% Rest of the World +14.9% (+28.9% if excluding Non-Giordano Brands) Wholesale +20.2% partly due to st
Slide 20: Gross profit
Gross profit Gross profit -3.9% YOY; gross margin -3.3pp to 55.6% (1H24: 58.9%) Online and wholesale business contributing more significant growth Strategic clearance of aged inventories, including Non-Giordano Brands 1H2024 Currency 1H2025 gross Product Selling translation gross (In HK$ milli
Slide 21: Operating expense
Operating expense • Operating expense-to-revenue ratio -0.6pp August 29, 2025 Giordano 2025 Interim Results Announcement 21
Slide 22: Changes in PATS
Changes in PATS 1H2024 1H2025 PATS HK$120m HK$121m Net Margin 6.3% 6.3% August 29, 2025 Giordano 2025 Interim Results Announcement 22
Slide 23: Market update: Greater China
Market update: Greater China Mainland China • Total revenue +12.3% Q1 +5.6%; Q2 +18.4% • Strong online business +29.1% Q1 +20.0%; Q2 +36.0% ‘Digital-First’ strategy Different online platforms – Douyin and VIP.com • Offline business -14.3% Mainland China reset plan Closure of unprofitable
Slide 24: Market update: Southeast Asia and Australia
Market update: Southeast Asia and Australia (“SEA”) SEA revenue • Revenue -6.9%, largely attributable to the weak performance of Non-Giordano Brands • If excluding Non-Giordano Brands, revenue drop limited to -2.7% • Proactively embarked on a brand portfolio reshaping strategy • Online business +4.8
Slide 25: Market update: Gulf Cooperation Council
Market update: Gulf Cooperation Council (“GCC”) (In HK$ million) 1H2025 1H2024 Revenue 368 362 Franchised stores 44 41 Direct-operated stores 142 138 Store at period-end 186 179 • GCC revenue up 1.7% • Sustained growth despite ongoing geopolitical tensions • GCC region fuels growth: Improved product
Slide 26: Inventories
Inventories Group inventories closed at HK$513 million (1H24: HK$514 million) ITOC -11 days YOY, 108 days (1H24: 119 days) Effective inventory management Strategic price promotions to clear aged inventory Finished goods at suppliers Cut by almost half Less off-balance sheet liability
Slide 27: Slide 27
Slide 28: Beyond Boundaries Strategy 2030
BEYOND BOUNDARIES STRATEGY 2030 28 28
Slide 29: Transform into a growth company
Transform into a growth company
Slide 30: Beyond Boundaries strategy has key strategic choices
Beyond Boundaries strategy has 4 key strategic choices Brand Digital Greater One Portfolio First China Giordano Men, Women, Junior • Revitalize Giordano • Digital • Mainland China • Centralized HQ • Beau Monde by Transformation Brand revitalisation Functions Giordano • eCom Acceleration • Marketing
Slide 31: Our Core Brands: Value, Korea Collection
Our Core Brands Value Korea Collection 31
Slide 32: Launching GC
Launching GC Our brand for young consumers. Land first in Mainland China (Online) 32
Slide 33: Slide 33
Slide 34: Welcome! Roh Jeong Eui
To start to drive brand heat, we have signed our new brand ambassador Welcome! Roh Jeong Eui 盧正義 To the Giordano family 34
Slide 35: Rejuvenating Giordano Ladies
We have started to rejuvenate Giordano Ladies to be younger and more relaxed in imagery Before Now 35
Slide 36: Digital First
Digital First 1H 2025 Rest of the World Mainland China eCommerce is our next +29% wave of growth Rest of the World +15% *3% of Net Sales only
Slide 37: Our Digital growth strategy to boost the business growth
ML China Our Digital growth strategy to boost the business growth 1H 2025 vs 1H 2024 Social Core Liquidation Engage with Young and New Enhance the launch of new Concentrate on budget- Customers products and nurture the friendly products and clear development of fresh out excess inventory. collection
Slide 38: Launch of the 'Giordano Universe' template
Launch of the ‘Giordano Universe’ template designed to accommodate multiple brands.
Slide 39: Improving Competency and Capabilities
Improving Competency and Capabilities Chief Design Chief Product Officer Chief Sales Officer Consultant (eCommerce) Director, Retail and Chief Sourcing Director, eCom (ROW) GM Hong Kong Officer and GM Singapore
Slide 40: 2025 Outlook
2025 Outlook 3-5% Positive Growth Full Year (Core Business) Profit to grow faster than top line 40
Slide 41: Beyond Boundaries is a growth & investment strategy
Beyond Boundaries is a growth & investment strategy OUR AMBITIONS FOR 2025 2025 PROFIT AFTER TAX NET SALES GROWTH 除所得税后溢利 净销售额增长 Strive to achieve revenue at a Endeavour to achieve profit high single to low double-digit after tax margins trending compound annual growth rate (CAGR) towards historic l
Slide 42: Looking Ahead
Slide 43: Thank You!
- ra , yA _ THANK YOU! sa ae * —_—
Giordano International — H1 2025 Earnings Presentation on 6ix