Slide 1: FY24 Results Presentation
UNIVERSAL STORE HOLDINGS LIMITED ACN 169 039 721 FY24 RESULTS PRESENTATION 22 AUGUST 2024 Universal Store Holdings Ltd ABN 94 628 836 484
Slide 2: Agenda
FY24 RESULTS PRESENTATION AGENDA PRESENTERS CONTENTS Alice Barbery Renee Jones Ethan Orsini 1. FY24 Overview CEO CFO CFO – Incoming 2. Financial Results ◼ 5 August commenced 3. Business Update ◼ 14 years at Universal Store ◼ 5 years at Universal Store at Universal Store 4. Trading Update & Outlook ◼
Slide 3: FY24 Overview
FY24 RESULTS PRESENTATION FY24 OVERVIEW 1 3
Slide 4: UNI Group FY24 Overview
FY24 FULL YEAR RESULTS PRESENTATION UNI GROUP FY24 OVERVIEW THE GROUP DELIVERED STRONG RESULTS, WITH +9.7% SALES GROWTH AND 16.6% GROWTH IN UNDERLYING EBIT1 DRIVEN BY GROSS MARGIN IMPROVEMENT, COST CONTROL, AND SALES MOMENTUM BUILDING IN H2 GROUP PERFORMANCE: Sales of $288.5 million (+9.7% vs US: St
Slide 5: UNI Group FY24 Financial Headlines
FY24 RESULTS PRESENTATION UNI GROUP FY24 FINANCIAL HEADLINES GROUP SALES +9.7% AND UNDERLYING NPAT+18.0% VS PCP1 $288.5m 60.1% 39.6 cents Sales +9.7% Gross Margin Underlying EPS4 (+5.9% excl. CTC) +110bps +14.1% -0.3% $47.1m $14.3m US LFL Sales2 Underlying EBIT3 Net Cash at (H1 -5.4%, H2 +6.6%) +16.
Slide 6: UNI Group Trends
FY24 RESULTS PRESENTATION UNI GROUP TRENDS PHYSICAL STORES (#) US LFL SALES GROWTH (%)² Total sales $288.5 million (+9.7% 102 versus pcp), delivering Group 5-year 95 28.5 sales CAGR of +14.5% (FY19-FY24)¹ 8 78 10 14 67 3 8 65 Universal Store 6-year average LFL 60 15.9 1 sales growth of +8.7% 10.7 80
Slide 7: Financial Results
FY24 RESULTS PRESENTATION FINANCIAL 2 RESULTS 7
Slide 8: UNI Group Profit & Loss (Post AASB16)
FY24 RESULTS PRESENTATION UNI GROUP PROFIT & LOSS (POST AASB16) Underlying Results ($m) FY24 FY23 % Change SALES ▪ UNI sales $288.5 million (+9.7% vs pcp) Sales 288.5 263.1 9.7% ▪ US sales $244.2 million (+4.0% vs pcp), US LFL -0.3%¹ Gross Profit 173.5 155.3 11.7% ▪ Perfect Stranger sales $13.9 mill
Slide 9: UNI Group Sales Performance
FY24 RESULTS PRESENTATION UNI GROUP SALES PERFORMANCE FY19–FY24 SALES1 (A$M) Group Sales up +97% vs FY19, representing a 5-year CAGR of +14.5% (FY19-FY24) Headline growth driven by: ▪ the continued growth of US sales with a 5-year CAGR of 31 +10.8% ▪ the launch of PS retail format 19 14 ▪ the acquis
Slide 10: UNI Group Sales Growth
FY24 RESULTS PRESENTATION UNI GROUP SALES GROWTH SOLID PERFORMANCE FULL YEAR UP +9.7% ON FY23 STRONG H2 GROWTH UP +11.2% ON FY23 Overall sales +9.7% year-on-year aided by 10 new store openings in GROUP HEADLINE GROWTH FY24 1 GROUP SALES GROWTH US LFL SALES 1 GROUPGROWTH LFL GROWTH 11.2% US LFL sales
Slide 11: UNI Group Gross Margin
FY24 RESULTS PRESENTATION UNI GROUP GROSS MARGIN CONTINUED IMPROVEMENTS IN GROSS MARGIN (+110BPS) ($m) (%) $200 60.1% Private brand penetration increased to 46% of sales 1 in FY24 (from 45% in FY23); driven mainly by the growth in Neovision $180 60.0% 59.0% 58.7% 58.3% $173.5 $160 US's direct sourci
Slide 12: UNI Group Costs of Doing Business
FY24 RESULTS PRESENTATION UNI GROUP COSTS OF DOING BUSINESS THE GROUP ACHIEVED CONTINUED FY24 CODB BRIDGE (A$M)1 IMPROVEMENTS IN CODB, REDUCING THE CODB% BY 40 BPS, INCLUDING $4.9 MILLION IN NON- GROUP HEADLINE GROWTH 1 . 91.6 COMPARATIVE CTC COSTS 1. Net employee costs increased by $2.9 million, 1.
Slide 13: UNI Group Balance Sheet
FY24 RESULTS PRESENTATION UNI GROUP BALANCE SHEET Statutory Balance Sheet (A$m) FY24 FY23 Strong cash generation with $29.2 million as of 30 June, resulting in net cash of $14.3 million1 Total Current assets 64.9 53.0 Cash 29.2 21.4 Trade and other receivables 5.8 4.9 Trade and other receivables inc
Slide 14: UNI Group Cashflow
FY24 RESULTS PRESENTATION UNI GROUP CASHFLOW Continued EBITDA growth +$11.2 million versus FY23 Operating Cashflow (A$m) FY24 FY23 Change Underlying EBITDA 81.9 70.7 11.2 Increased inventory to support new Non-cash items in underlying EBITDA 0.3 0.4 (0.1) stores and increased customer demand, Change
Slide 15: Business Updates
FY24 RESULTS PRESENTATION FY24 3 BUSINESS UPDATES 15
Slide 16: Universal Store Update
FY24 RESULTS PRESENTATION UNIVERSAL STORE UPDATE UNIVERSAL STORE REVENUE ($m) FINANCIAL RESULTS: 244 • FY24 Sales of $244.2 million were up 235 +4.0%, with subdued H1 trading 210 environment, offset with H2 recovery 205 • LFL sales growth -0.3%, -5.4% H1 and 100 111 155 +6.6% H2. GP% up 30bps versus
Slide 17: Universal Store Update Continued
FY24 RESULTS PRESENTATION UNIVERSAL STORE UPDATE CONTINUED CUSTOMER & PRODUCT: OMNI CHANNEL AND DATA: ▪ Successful brand and range curation ▪ Enhanced digital and eCommerce resulted in H2 sales improvement and capacity with move to Shopify remains crucial in subdued market ▪ Store to Door sales scal
Slide 18: Perfect Stranger Update
FY24 RESULTS PRESENTATION PERFECT STRANGER UPDATE FINANCIAL RESULTS: PS REVENUE ($m)1 ▪ Pleasing performance of the PS retail 13.9 format continued. FY24 sales of $13.9 million1, +56.2% versus pcp and +7.3% LFL sales, with all stores profitable 7.4 8.9 ▪ PS Online continues to perform well, up +60.6
Slide 19: Perfect Stranger Update Continued
FY24 RESULTS PRESENTATION PERFECT STRANGER UPDATE CONTINUED CUSTOMER & PRODUCT: OMNI CHANNEL AND DATA: ▪ The PS customer is seeking a more ▪ Huge potential exists to grow the boutique brand experience and online and store to door channels and shopping for different, often dressier, there is ongoing
Slide 20: CTC Update
FY24 RESULTS PRESENTATION CTC UPDATE CTC SALES¹ ($ MILLION) FY24 sales YoY% FINANCIAL RESULTS: Brand ($m) growth ▪ Sales up +6.2%1, with subdued 42 44 Thrills 33.4 -7.6% H2 trading environment in the wholesale 35 channel as CTC continued to see a 29 18 19 Worship 10.5 +91.3% mix shift between indepe
Slide 21: CTC Update Continued
FY24 RESULTS PRESENTATION CTC UPDATE CONTINUED CUSTOMER & PRODUCT: PRODUCTIVITY: ▪ Robust sell-through and consistent ▪ Consistently delivering exceptional demand from key wholesale accounts, customer service and implementing the including US, with denim a standout new customer proposition are top c
Slide 22: Trading Update
FY24 RESULTS PRESENTATION TRADING UPDATE 4 22
Slide 23: Trading Update
FY24 RESULTS PRESENTATION TRADING UPDATE Sales performance during the Accelerating rollout of PS first seven weeks of FY25; stores and building the platform ▪ US sales up +15.3%, with for rollout of THRILLS stores in LFL growth up +12.5%, the medium term cycling -9.0% last year1 ▪ PS sales up +89.9%
Slide 24: Appendix
FY24 RESULTS PRESENTATION APPENDIX 5 24
Slide 25: UNI Sustainability Targets
FY24 RESULTS PRESENTATION UNI SUSTAINABILITY TARGETS* CONTINUE TO WORK TOWARDS A SUSTAINABLE FUTURE BY EMBEDDING OUR SUSTAINABILITY TARGETS TREAD LIGHTLY EXPECT TRANSPARENCY CLIMATE ACTION Reduce our impact. Put an end to poor working conditions Minimise our contribution to climate change. Preserve
Slide 26: Appendix 1: Group Overview
FY24 RESULTS PRESENTATION APPENDIX 1: GROUP OVERVIEW Australia’s premier A grower of businesses, Customer focused, Focused on results, owner and operator of with excellence in detail oriented, nimble, risk management, youth and young adult culture, retail execution multi-channel and fostering fashio
Slide 27: Appendix 2: Store Footprint
FY24 RESULTS PRESENTATION APPENDIX 2: 1 STORE FOOTPRINT #80 Universal Store stores #8 THRILLS stores #14 Perfect Stranger stores NT 19 QLD 4 6 WA SA 4 22 13 NSW 6 5 ACT 2 TOTAL GROUP VIC 102 STORES* 18 1 TAS 1 * Plus web store for each brand. 27
Slide 28: Appendix 3: P&L Underlying to Statutory Reconciliation
FY24 RESULTS PRESENTATION APPENDIX 3 P&L UNDERLYING TO STATUTORY RECONCILIATION $million Note FY24 FY23 Transaction costs relate to legal, 1 advisors and accounting costs Statutory EBITDA 86.1 68.4 incurred with respect to the Transaction costs 1 – 1.8 acquisition of CTC business. FV of deferred var
Slide 29: Appendix 4: FY24 Consolidation Overview ($M)
FY24 RESULTS PRESENTATION APPENDIX 4: FY24 CONSOLIDATION OVERVIEW ($M) CTC US UNI Underlying Results ($m) (FY24) (FY24) Elimination1 Group Note: The elimination relates to sales (and margin) by CTC to Universal Store. Sales 44.4 258.2 (14.1) 288.5 Gross Profit 20.5 153.4 (0.4) 173.5 % Sales 46.2% 59
Slide 30: Appendix 5: Group Sales Overview
FY24 RESULTS PRESENTATION APPENDIX 5: GROUP SALES OVERVIEW Pre CV-19 CV-19 affected period Post CV-19 period CAGR Growth FY20 FY21 FY22 FY23 FY24 (FY20 to (vs FY23) FY24) $m $m $m $m $m % % Universal Store (retail format) Stores 141.3 184.5 169.2 201.5 209.8 4.1% 10.4% Online 13.6 25.7 35.6 33.3 34.
Slide 31: Disclaimer
FY24 RESULTS PRESENTATION DISCLAIMER The material contained in this This presentation may contain To the extent permitted by law, presentation has been prepared by forward-looking statements with respect no responsibility for any loss arising Universal Store Holdings Limited to the operations and bu
Slide 32: Universal Spirit
UNIVERSAL SPIRIT The unique ability to create memorable and positive experiences for all. Creating an experience that is fun, open and based on kindness. The environment that enables a person to be their best. Authorised for release by the Board of Directors of Universal Store Holdings Limited. For