Mulberry Group Plc · LSE:MUL

Mulberry — FY2019 Earnings Presentation

25 slides from Mulberry's earnings presentation, June 2019

1. Slide 1: Preliminary Results

   u berry Preliminary Results FOR THE PERIOD ENDED 30 MARCH 2019

2. Slide 2: Index

   PRELIMINARY RESULTS — PERIOD ENDED 30 MARCH 2019 Index 1. FINANCIAL REVIEW 2. STRATEGY 3. CURRENT TRADING AND OUTLOOK 4. APPENDIX

3. Slide 3: Highlights

   PRELIMINARY RESULTS — PERIOD ENDED 30 MARCH 2019 Highlights 1. INTERNATIONAL BUSINESS DEVELOPED — International revenue up 7%, representing 31% of Group revenue (2018: 28%) — New business entities created in Japan and South Korea — Important digital partnerships established in China — Group now repr

4. Slide 4: 1. Financial Review

   1. Financial Review

5. Slide 5: Revenue by region

   Revenue by region ― ― ― ― ― Note: Digital included in Retail sales ― ―

6. Slide 6: Income statement

   PRELIMINARY RESULTS — PERIOD ENDED 30 MARCH 2019 Income statement 53 WEEKS TO 30 52 WEEKS TO 24 £ MILLION MARCH 2019 MARCH 2018 Revenue 166.3 169.7 Gross profit 102.3 107.7 Gross margin 61.5% 63.5% Operating expenses (net) (107.3) (100.6) Operating (loss)/profit (5.0) 7.1 Other operating expenses (0

7. Slide 7: Balance sheet

   PRELIMINARY RESULTS — PERIOD ENDED 30 MARCH 2019 Balance sheet BALANCE SHEET (£ MILLION) 30 MARCH 2019 24 MARCH 2018 Non-current assets 41.6 34.4 Inventories 39.7 44.6 Trade and other receivables 13.7 15.2 Net cash 11.1 25.1 Current tax 1.8 (0.9) Current liabilities (25.4) (28.8) Non-current liabili

8. Slide 8: Capital expenditure analysis

   Capital expenditure analysis

9. Slide 9: 2. Strategy

   2. Strategy

10. Slide 10: Strategy overview

    PRELIMINARY RESULTS — PERIOD ENDED 30 MARCH 2019 Strategy overview FOUR STRATEGIC PILLARS TO DEVELOP MULBERRY AS A GLOBAL LUXURY BRAND: 1. BRITISH LUXURY BRAND WITH GLOBAL ASPIRATIONS 2. BRITISH MANUFACTURING 3. INTERNATIONAL DEVELOPMENT WITH FOCUS ON ASIA 4. DIRECT TO CUSTOMER MODEL 10

11. Slide 11: 1. British luxury brand with global aspirations

    1. British luxury brand with global aspirations — — — —

12. Slide 12: 2. British manufacturing

    2. British manufacturing — — — — —

13. Slide 13: 3. International development, focus on Asia

    3. International development, focus on Asia — • • • — • •

14. Slide 14: 3. International development, focus on Asia

    3. International development, focus on Asia

15. Slide 15: 4. Direct to customer model

    4. Direct to customer model 2017/18 Revenue 2018/19 Revenue ― ― ― ―

16. Slide 16: 4. Direct to customer model (UK)

    4. Direct to customer model (UK) — • • • • — •

17. Slide 17: 3. Current Trading and Outlook

    3. Current Trading and Outlook

18. Slide 18: Current Trading

    Current Trading • Regional splits include Digital sales; Digital sales increased by 27% in the period to 30 March 2019 and by 53% in the 11 weeks to 15 June 2019 ** 53rd week accounted for £1.9 million in sales. Excluding the 53rd week, Group Revenue decreased by 3% during the comparable 52 week per

19. Slide 19: Outlook

    PRELIMINARY RESULTS — PERIOD ENDED 30 MARCH 2019 Outlook INTERNATIONAL RETAIL — Revenue benefit from acquired growth in South Korea and Japan and digital growth — New store opened in Rockefeller Center, New York on 5%" Avenue during April 2019 — The Group anticipates that International will continue

20. Slide 20: Outlook

    PRELIMINARY RESULTS — PERIOD ENDED 30 MARCH 2019 Outlook CAPEX — Selective roll out of new store concept will continue during the year to 31 March 2020 — Capital expenditure for the full year ending 31 March 2020 is expected to be in the region of £6.0 million (2019: £11.9 million), of which the maj

21. Slide 21: Contacts

    PRELIMINARY RESULTS — PERIOD ENDED 30 MARCH 2019 Contacts HEADLAND Lindsay Dunford / Emma Ruttle — 020 3805 4822 MULBERRY INVESTOR RELATIONS Allegra Perry — 020 7605 6795 GCA ALTIUM Sam Fuller — 020 7484 4037 Tim Richardson — 020 7484 4040 BARCLAYS Nicola Tennent / Stuart Muress — 020 3134 9801 DIGI

22. Slide 22: 4. Appendix

    4. Appendix

23. Slide 23: Appendix – Revenue by region

    PRELIMINARY RESULTS — PERIOD ENDED 30 MARCH 2019 Appendix — Revenue by region £166.3m £169.7m £0.3m es a £10.0m al SEE £11.51 | £25.21 £22.6r £114.6m £121.6m 2018/19 2017/18 @ UK m Europe @ Asia Pacific m North America m Middle East/Other 23

24. Slide 24: Appendix – Revenue by region/channel

    Appendix – Revenue by region/channel Retail Wholesale Total Retail Wholesale Total

25. Slide 25: Appendix – Revenue by product

    Appendix – Revenue by product

Mulberry Group — FY2019 Earnings Presentation on 6ix