Adairs Ltd. · ASX:ADH
Adairs — Shareholder Meeting (November 2023)
20 slides from Adairs's shareholder meeting presentation, Nov 24, 2023
Slide 1: Adairs Limited Annual General Meeting
Adairs Limited Annual General Meeting 24 November 2023
Slide 2: Brett Chenoweth, Chair
1 BRETT CHENOWETH CHAIR
Slide 3: Your Board
Your Board 2 Independent Brett Chenoweth Kate Spargo Trent Peterson (Chair) Kiera Grant David MacLean Mark Ronan, MD & CEO Company secretary: Non-executive Directors Executive Director Jamie Adamson
Slide 4: Chair's Report
3 CHAIR’S REPORT
Slide 5: Group results – FY23
Group results – FY23 4 FY23 1 v FY22 Achievements Group sales ($m) $621 $564 ► Record group sales $500 Total Sales $389 $621.3 million +10.1% ► Focus on Furniture results $344 $315 ► Inventory well managed .. Adairs +2.9% .. Focus ► New Adairs website +5.3% 2 .. Mocka -24.1% ► Focus on Furniture sto
Slide 6: Update on strategic priorities – Environmental, Social and Governance
Update on strategic priorities – Environmental, Social and Governance 5 Sustainability ► Traceability completed for all Tier 1 suppliers (c. 325 suppliers) ► Single use plastic bags removed from Adairs stores: - Eliminates c. 2.3 million bags per annum - 17 tonnes of surplus bags were recycled ► 8.5
Slide 7: Managing Director & CEO's Report
MANAGING DIRECTOR & CEO’S REPORT
Slide 8: Trading update and outlook
Trading update and outlook 7 Trading results for the first 21 weeks of FY24 FY24 year to date Sales General (first 21 weeks) v FY23 ► The impact of higher interest rates and cost of living pressures has seen a significant decline in Group (9.0%) traffic across each business of c.10%. Adairs (9.9%) ►
Slide 9: Update on strategic priorities – Adairs
Update on strategic priorities – Adairs 8 Adairs business growth will come from building out the product offering to see Adairs establish itself as the destination for home, supported by a data led approach to enhancing the customer experience both in store and online. Product led Design and develop
Slide 10: Update on strategic priorities – Focus on Furniture
Update on strategic priorities – Focus on Furniture 9 Focus on Furniture’s growth will come from its national store rollout program supported by an enhanced in-store experience Product led Priority markets ► High quality product with strong value proposition ► Strong supplier relationships support d
Slide 11: Update on strategic priorities – Focus on Furniture
Update on strategic priorities – Focus on Furniture 10 BEFORE Focus on Furniture’s growth will come from its national store rollout program supported by an enhanced in-store experience AFTER
Slide 12: Update on strategic priorities – Mocka
Update on strategic priorities – Mocka 11 Mocka delivers functional, well-designed flat-pack furniture at compelling value for money. Profit growth will come from increased market share via greater brand awareness and broader channels to market - including a physical presence. Product led ► Highly f
Slide 13: Meeting Resolutions
12 MEETING RESOLUTIONS
Slide 14: 1. Annual Financial Report
13 1. Annual Financial Report “To receive and consider the Financial Report of the Company and its controlled entities and the Reports of the Directors and Auditor for the year ended 25 June 2023.”
Slide 15: 2. Re-election of Director
14 2. Re-election of Director “That David MacLean, being eligible, be re-elected as a Director of the Company.” Usable Votes and Proxies Received Votes / Proxies % of Eligible Votes Cast (excluding abstentions) For: 33,770,144 90.7% Open/Undirected (Chairman) 553,521 1.5% Open/Undirected (Other) 553
Slide 16: 3. Remuneration Report
15 3. Remuneration Report “That the Remuneration Report for the year ended 25 June 2023 be adopted.” Usable Votes and Proxies Received Votes / Proxies % of Eligible Votes Cast (excluding abstentions) For: 34,138,600 91.7% Open/Undirected (Chairman) 423,631 1.1% Open/Undirected (Other) 553,828 1.5% A
Slide 17: 4. Approval of long-term incentive grant of Performance Rights to Mark Ronan
16 4. Approval of long-term incentive grant of Performance Rights to Mark Ronan “That approval be given for all purposes, including ASX Listing Rule 10.14, for the grant of Performance Rights to Mark Ronan as his annual long-term incentive for the year ended 30 June 2024 on the terms described in th
Slide 18: 5. Re-insertion of proportional takeover provisions in the Constitution
17 5. Re-insertion of proportional takeover provisions in the Constitution “That the proportional takeover provisions contained in Rule 6 of the Company’s Constitution be inserted for a period of three years with effect from the date of the Annual General Meeting.” Usable Votes and Proxies Received
Slide 19: Meeting Closed
18 MEETING CLOSED
Slide 20: Important Notice and Disclaimer
19 Important Notice and Disclaimer The material in this presentation is general background information about Adairs Limited (ABN 50 147 375 451) (Adairs) and its activities current as at the date of the presentation. It is information given in summary form and does not purport to be complete. It sho