Slide 1: FY2023 Results and Trading Update
FY2023 Results and Trading Update Julie Lavington – Co-CEO and Co-Founder Ali Hall – Co-CEO and Co-Founder Steve Dilks – CFO 1
Slide 2: Disclaimer
DISCLAIMER Important: Disclaimer and Notice to Readers This presentation is being made only to and directed at: (a) persons who have professional experience in matters relating to investments falling within Article 19 of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (t
Slide 3: Agenda
Agenda •Highlights FY2023 •Financial Review FY2023 •Strategy FY2024 and Beyond 3
Slide 4: Highlights FY 2023
Highlights FY 2023 4
Slide 5: Revenue Quadrupled in 3 Years and 1st Year Profit
Revenue Quadrupled in 3 Years and 1st Year Profit 5
Slide 6: Highlights of FY2023
Highlights of FY2023 • First full year of profitability : £1.6m • 44% increase in revenue to £42.5m • Strong performance across all channels • All product categories in growth • Successful equity raise of £5.5m in February • Strong foundations to become one of world’s biggest fashion brands 6
Slide 7: FY2023 Financial Review
FY2023 Financial Review 7
Slide 8: Net Revenue & Profit Before Tax
Net Revenue & Profit Before Tax Net Revenue Profit Before Tax 8
Slide 9: Gross Profit
Gross Profit 58.0% 56.0% 56.2% 56.0% 54.0% 52.0% 50.0% 48.0% 48.0% 46.0% 44.0% 42.0% FY 2021 FY 2022 FY 2023
Slide 10: Overhead % of Revenue
74% FY 2021 Overhead % of Revenue FY 2022 52% FY 2023 10
Slide 11: Overheads
Overheads * Overhead Analysis Overheads - % of Net Revenue 11 * Excludes share based payments, depreciation and amortisation
Slide 12: Own Site KPIs
Own Site KPIs Website Visits Conversion Rate 12
Slide 13: Own Site - Total Orders / Cost per Order
Own Site - Total Orders / Cost per Order 13
Slide 14: Income Statement
Income Statement £m £m £m Revenue 42.5 Cost of Goods (18.6) Gross Profit 23.8 Gross Profit % 56.2% Admin expenses (21.7) Share based payments (0.3) Depreciation & Amortisation (0.3) Profit / (Loss) before tax 1.6 29.5 (13.0) 16.5, 56.0% (16.5) (0.3) (0.3) (0.6), 12.2 (6.3) 5.8 48.0% (8.6) (0.2) (0.2
Slide 15: Balance Sheet
Balance Sheet Balance Sheet Mar-23 Mar-22 £m £m Intangible assets - - Property, plant and a 1.0 0.4 equipment Deferred income tax asset O7/ 0.4 Total non-current assets iy? 0.9 Inventories 12.4 U3 Trade and other receivables 27, 25) Cash and cash equivalents 10.6 7.0 Current assets 25.7 16.9 Trade a
Slide 16: Strategy FY2024 and Beyond – Becoming One of the World's Biggest Fashion Brands
Strategy FY2024 and Beyond – Becoming One of the World's Biggest Fashion Brands 16
Slide 17: Sosandar - The 5 Priorities to Drive Further Growth
Sosandar - The 5 Priorities to Drive Further Growth 1. Product range – constant innovation & expansion 2. Large scale optimisation of DTC experience 3. Expanding routes to market – UK online 4. Expanding route to market – UK bricks and mortar 5. International expansion 17
Slide 18: 1. Product Range – Constant Innovation and Expansion
1. Product Range – Constant Innovation and Expansion • Launch of petites range in September • Biggest occasion wear launch ever in A/W 2023 • Swim and beachwear now available all year round • Expansion of hugely successful tailoring category 18
Slide 19: 2. Large Scale Optimisation of DTC Experience
2. Large Scale Optimisation of DTC Experience Sosandar.com Optimising the customer experience • Contributes to significant • Multimillion £ DTC website - through increase in scale mobile first personalisation and • Even greater retention rates • Industry leading KPIs e.g. launch of app • Enhanced cu
Slide 20: Personalisation - Enhancing the Customer Experience
Personalisation - Enhancing the Customer Experience • Launching July 2023 • Partnered with Bloomreach - market leading customer data platform • Will deliver a more bespoke, data driven experience including: ⚬ Onsite personalisation ⚬ Personalised e-mail and push notifications 20
Slide 21: Expansion of Shopping Channels Through Bespoke App
Expansion of Shopping Channels Through Bespoke App • Launching July 2023 • Partnered with Poq, the market leading app specialist • Apps are proven to drive more frequent engagement and deeper browsing experience • Keep Sosandar front of mind with customers • Personalised push notifications 21
Slide 22: 3. Expanding Routes to Market - UK Online
3. Expanding Routes to Market - UK Online • In under 3 years we have built a successful 3rd • New launches: party business ⚬ Sainsbury’s March 2023 • Sosandar is a top selling brand online in the UK's ⚬ Freemans (Otto Group) September 2023 largest womenswear retailers ⚬ Multiple live conversations o
Slide 23: 4. Expanding Routes to Market UK - Bricks and Mortar
4. Expanding Routes to Market UK - Bricks and Mortar Sainsbury’s - September 2023 • Launch in Sainsbury’s new upmarket department stores concept • Sosandar is an anchor brand • 150 styles for autumn/winter 2023 • Full mix of product categories 23
Slide 24: 5. Expanding Routes to Market - International
5. Expanding Routes to Market - International • Global-e launching July 2023 ⚬ Localised currency, checkout and payment methods ⚬ Shipping to 215 countries • Multiple conversations progressing with other interested third parties • We intend to launch online with at least one 3rd party international
Slide 25: Limitless Potential for Growth Across the Globe
Limitless Potential for Growth Across the Globe • Strong start to new financial year • Track record of successful execution • Primed for growth with multiple new initiatives • Teams, systems and infrastructure to deliver growth • Foundations laid to be one of the world’s biggest fashion brands 25
Slide 26: Q&A
Q&A 26