Michael Hill International Ltd. · ASX:MHJ
Michael Hill International — H1 FY2025 Earnings Presentation
18 slides from Michael Hill International's earnings presentation, Feb 22, 2025
Slide 1: FY25H1 Results
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Slide 2: Disclaimer
DISCLAIMER Certain statements in this report constitute forward-looking statements. Forward-looking statements are statements (other than statements of historical fact) relating to future events and the anticipated or planned financial and operational performance of Michael Hill International Limite
Slide 3: CEO and CFO FY25H1 Update
Michael Hill International Limited CEO and CFO FY25H1 Update • FY25H1 Performance Overview • FY25H1 Financial Results • Group Results • Segment Results • Current Trading Update • Group Strategy • Appendices
Slide 4: FY25H1 Performance Overview
FY25H1 Performance Overview • Macroeconomic pressures continued to impact consumer sentiment and discretionary retail trading conditions, particularly in New Zealand • Our two largest segments Australia and Canada delivered growth • Gross margin is starting to recover, underpinned by brand and produ
Slide 5: FY25H1 Group Financial Results Snapshot
FY25H1 Group FY20H1 Results Snapshot Financial • Group revenue (including Bevilles) was down 0.7%, FY25H1 FY24H1 Change and flat on a constant currency basis. Revenue $360m $363m -0.7% • Gross profit was down 0.9% Gross Profit $221m $223m -0.9% • Gross margin was broadly in line with FY24H1, despite
Slide 6: FY25H1 Segment Results
FY25H1 Segment Results Australia1 (AUD) Canada (CAD) New Zealand (NZD) FY25H1 FY24H1 Change FY25H1 FY24H1 Change FY25H1 FY24H1 Change Revenue 205m 202m +1.2% 91m 89m +2.4% 61m 65m -7.4% Gross profit 124m 123m +1.1% 55m 54m +2.0% 36m 39m -8.9% Gross margin 60.5% 60.6% -10 bps 60.8% 61.0% -20 bps 58.9
Slide 7: Current Trading Update
Current Trading Update • For the first seven weeks of FY25H2, Group same store sales were up 3.2% on prior year, with same store sales for the: • Australian segment up 3.8% • Canadian segment up 6.7% • New Zealand segment down 1.9% • Total sales for the Group were up 1.7% for the first seven weeks o
Slide 8: Group Strategy, the path to 2030
Group Strategy, the path to 2030 2020 – 2023 2023 – 2024 2024 – 2025 2026 – 2030 Reposition Establish Product & Network Michael Hill Portfolio of Brand Expansion & Brand Brands Proposition Productivity 8
Slide 9: Group Strategy – the path to 2030
Group Strategy – the path to 2030 2020 – 2023 2023 – 2024 2024 – 2025 2026 – 2030 Reposition Establish Product & Network Michael Hill Portfolio of Brand Expansion & Brand Brands Proposition Productivity 9
Slide 10: Product & Brand Proposition, 2024 - 2025
Product & Brand Proposition, 2024 - 2025 10
Slide 11: Product & Brand Proposition, 2024 - 2025
Product & Brand Proposition, 2024 - 2025
Slide 12: Group Strategy – the path to 2030
Group Strategy – the path to 2030 2020 – 2023 2023 – 2024 2024 – 2025 2026 – 2030 Reposition Establish Product & Network Michael Hill Portfolio of Brand Expansion & Brand Brands Proposition Productivity 12
Slide 13: Strategic priorities over the next 12 months
Strategic priorities over the next 12 months 1. Embedding the repositioning of the Michael Hill brand across all markets 2. Internal strategic review of New Zealand to improve performance 3. Reinforce retail fundamentals, brand identity and awareness of the Bevilles brand, in preparation for expansi
Slide 14: Q&A
Q&A You are able to listen to Q&A via this platform. If you would like to ask a question, please click on ‘Request to Speak’ button at the bottom of the broadcast window. If you are in full screen broadcast mode, you will need to minimise to see this button. Click ‘Join Queue’. If prompted, allow ac
Slide 15: Appendices
Appendices 15
Slide 16: Appendix A: Bridge from Comparable EBIT to Reported EBIT
Appendix A: Bridge from Comparable EBIT to Reported EBIT Calculated as follows: (AUD million) FY25H1 FY24H1 Comparable EBIT 24.1 31.3 Impact of AASB16 Leases 6.3 5.5 Impact of IFRIC SaaS-related guidance -0.1 -2.7 Litigation judgement 3.0 -4.0 Bevilles acquisition transaction costs - -1.1 Bevilles i
Slide 17: Appendix B: AASB16 Leases & SaaS Impact
Appendix B: AASB16 Leases & SaaS Impact FY25H1 Impact of FY25H1 FY24H1 Change (AUD million) Stat AASB16 & SaaS pre-adjustments pre-adjustments pre-adjustments Revenue 360.2 - 360.2 362.7 -0.7% Cost of sales -139.3 - -139.3 -139.7 -0.3% Gross profit 220.9 - 220.9 223.0 -0.9% Employee benefits expense
Slide 18: INTERNATIONAL LIMI
INTERNATIONAL LIMI
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