Slide 1: 1HY25 Financial Results
1HY25 Financial Results February 2025
Slide 2: Joyce Group
Joyce Group “Helping Australians add value to their greatest asset - the family home” KWB Group KWB Group’s trading brands, Kitchen Connection Bedshed supplies quality bedding and and Wallspan, operate a network of 27 bedroom furnishings across Australia and is showrooms across Queensland, NSW, and
Slide 3: Flow of economic interest into Joyce Group
Joyce Group Flow of economic interest into Joyce Group KWB Group 51% Majority Interest in Net Profit Attributable to JYC Shareholders 27 showrooms Established brands with High performing, high strong customer margin, capital light relationships businesses Joyce Corporation Ltd (ASX: JYC) Franchise O
Slide 4: Operating Results
(3 JoyceGroup Operating Results IHY25
Slide 5: Joyce Group 1HY25 Performance Overview
Joyce Group 1HY25 Performance Overview $73.4M $8.3M Revenue Group NPAT* o Steady operating performance despite difficult trading conditions - cost of living pressures continued to impact consumer demand o Increased Revenue and Contribution Margin $7.3M $31.8M o Robust NPAT* to Joyce shareholders of
Slide 6: Results Overview
Results Overview Key financial performance metrics Improved Contribution Margin of 50% delivered against backdrop of softer foot traffic ($’000) 1HY25 1HY24 Variance and consumer focus on cost of purchases Revenue 73,420 73,072 348 0.5% Contribution Margin 36,781 35,775 1,006 2.8% Operating expenses
Slide 7: Results Overview
Results Overview Continuing track record of increasing returns to shareholders 1HY25 1HY24 Interim dividend of 10.5 cents per share (fully franked) Dividend (cents per share) 10.5 11.0 consistent with 1HY24 NPAT to Joyce Shareholders ($’000) 3,052 4,739 Normalised* NPAT to Joyce Shareholders ($’000)
Slide 8: KWB Group
= [3 JoyceGroup kitchen % connection ~walispan _ KWB Group
Slide 9: KWB Group Showroom Network
KWB Group Showroom Network Wallspan o 3 x SA Showrooms June ‘24 Net Showrooms Feb ‘25 Kitchen Connection o 12 x QLD Showrooms 25 +2 27 o 12 x NSW Showrooms Over 2,000 Kitchens and 1,000 3 new showrooms opened in Wardrobes installed in 1HY25 1HY25: Jul ‘24 - Alexandria (NSW) Winner of Annual Product
Slide 10: KWB Group Revenue and Orders
KWB Group Revenue and Orders Revenue ($M) 70 o $58.3M orders 1HY25 (12% increase on pcp*) 60 o Like-for-like orders $54.6M vs $51.5M 50 40 o Orders delivered against backdrop of reduced 30 foot traffic, countered by improved conversion 20 rates 10 - o $35.8M Order Book** as at 31 December ‘24 1HY16
Slide 11: KWB Group Operating Performance
KWB Group Operating Performance ($’000) 1HY25 1HY24 Variance % o Gross margins maintained at approximately 50% Segment Revenue 59,190 62,114 -2,924 -4.7% o Continued diligent cost management to Segment EBIT 12,667 13,470 -803 -6.0% protect profitability Segment EBIT Margin % 21.4% 21.7% - - o Robust
Slide 12: Bedshed
(3 JoyceGroup Bedshed Fl
Slide 13: Bedshed Company operations
Bedshed Company operations Store Network o 2 x WA Stores o 2 x QLD Stores Store June ‘24 New Stores Dec ‘24 o 2 x NSW Stores Franchise operations Franchised 37 - 37 o 12 x WA Stores o 10 x QLD Stores Company 6 - 6 o 12 x VIC Stores o 3 x NSW Stores 43 store store Jindalee network (6 company- (Brisba
Slide 14: Bedshed Revenue
Bedshed Revenue ($’000) 1HY25 1HY24 Variance Revenue o Improved Bedshed network Business Written Sales (“BWS”) for 1HY25 exceeding $80.0M (6% increase Franchise operations 3,064 2,965 99 3.3% on pcp and 3% like-for-like) Company-owned stores 10,617 7,514 3,103 41.3% o Consumers remain focused on pro
Slide 15: Bedshed Operating Performance
Bedshed Operating Performance ($’000) 1HY25 1HY24 Variance EBIT o Combined Operations EBIT of $2.2M (comparable to pcp of $2.3M) Franchise operations 1,427 1,547 -120 -7.8% Company-owned stores 756 714 42 5.9% o Consistent franchise operations performance of $1.4M EBIT. Robust margin Combined Operat
Slide 16: Future Growth
(3 JoyceGroup Future Growth
Slide 17: Future Growth Initiatives
Future Growth Initiatives Established brands that are synonymous with helping Australians add value to their greatest asset - the family home KWB Group o Sole focus on residential renovation in substantial o Focus on improved operational performance national kitchen renovation market of company stor
Slide 18: Corporate Directory
Corporate Directory Board of Directors Top 20 JYC Shareholders – 26th February 2025 Units % Units 1. ADAMIC PTY LTD 7,711,568 26.08 Jeremy Kirkwood Non-executive Director (Chair) 2. UFBA PTY LTD 1,474,000 4.98 Karen Gadsby Non-executive Director (Deputy Chair) 3. ANACACIA PTY LTD <WATTLE FUND A/C> 1
Slide 19: References
References This Presentation should be read in conjunction with the following documents lodged with the ASX on 28 February 2025 under the ASX ticker JYC: o Investor Presentation - Half-Year Results 31 December 2024 o Appendix 4D and 31 December 2024 Half-Year Financial Report o Dividend/Distribution
Slide 20: Appendix: 1HY25 normalising adjustments
Appendix: 1HY25 normalising adjustments NPAT attributable to (#039;000) EBITDA EBIT PBT Tax NPAT JYC s/holders 1HY25 Results per financial statements 15,604 10,904 10,727 (3,341) 7,386 3,052 Crave realised loss on sale of assets 297 297 297 (89) 208 208 Crave impairment of software - 300 300 (90) 210 2
Slide 21: Disclaimer
Disclaimer Information contained in this presentation may involve forward looking statements, No warranty or representation is expressed or implied or will be made as to the and comments about the future including possible future performance estimates, fairness, accuracy, completeness or correctness
Slide 22: Appendices
(3 JoyceGroup Appendices
Slide 23: KWB Group Business model
KWB Group Business model Inspiring showrooms - Located in A-grade homemaker Completion & Showroom centres, displaying premium brands and products that are Seek Referral (specify & qualify) on trend and regularly updated Unique value proposition delivering a positive, seamless and hassle-free design
Slide 24: Bedshed Business model
Bedshed Business model Bedshed is an established Bedding Specialist with 40+ yrs experience • Differentiated value proposition with a range of offerings/product features that drive conviction, accessibility and loyalty • Greater staff expertise, personalised service offerings expertly curated range