Shriro Holdings Ltd. · ASX:SHM
Shriro — H1 FY2024 Earnings Presentation
9 slides from Shriro's earnings presentation, Feb 23, 2024
Slide 1: Half Year Results Presentation
SHRIRO HOLDINGS (SHM) 6 MONTHS TO 31 DECEMBER 2023 - Half Year Results Presentation Tim Hargreaves, Chief Executive Officer | 22 February 2024 This announcement was authorised for release by the Board of Directors of Shriro Holdings Ltd.
Slide 2: Executive Summary
6 months to 31 December 2023 Executive Summary • Revenue from continuing operations was $64.1M, down 2.7% pcp due to subdued NZ consumer and European BBQ products demand. • USA sales grew 42% vs pcp, with sales of gas BBQs and the new Pizza oven range the main contributors. • Higher gross profit mar
Slide 3: Results for continuing operations
6 months to 31 December 2023 Results for continuing operations July - December 2023 Change July – December 2022 Revenue $64.1M -2.7% $65.9M EBITDA $10.4M -13.3% $12.0M NPAT $6.1M -7.6% $6.6M Cash Position $28.3M* +342.2% $6.4M Capital Return Paid January 18.5 Cents* Dividend Declared February 2.0 Ce
Slide 4: Australasian Market
6 months to 31 December 2023 Australasian Market • Revenue was down 24.2% pcp with the exit of the Australian Appliances business occurring in Q3 FY23 however gross margin as a percentage of sales was 48.6% (41.2% 1H23). • Everdure by Heston BBQs grew in Australia by 9%, which normalised the previou
Slide 5: International Market
6 months to 31 December 2023 International Market • Revenue was down 18.2% pcp, however the first half is the winter season for the Northern hemisphere, traditionally considered the low season and the least relevant for global BBQ sales. The reduced global demand for outdoor products has resulted in
Slide 6: Growth Strategies
Growth Strategies ORGANIC IN-ORGANIC CORE FOUNDATIONS • New product releases • Executive tasked with finding • Investment in advanced “e-commerce” acquisition opportunities capability • New distribution brand opportunities • EBITDA accretive acquisitions – with • ERP upgrade FY24/25 • Dedicated exec
Slide 7: FY24 Outlook
FY24 Outlook • Shriro continues to have no debt and reaffirms its guidance for FY24 EBITDA anticipated to be in the range of $15M to $17M. • Included in the above EBITDA guidance is the implementation cost of the new ERP system of $1.6M in FY24, which is progressing as expected. The ERP system will
Slide 8: Shriro & Casio Celebrate 40 Years Of Working Together
Shriro & Casio Celebrate 40 Years Of Working Together Left to right • Shigenori Itoh (Executive Managing Officer) • Kazuhiro Kashio (Chairman) • Tim Hargreaves (Shriro CEO) • Yuichi Masuda (President & CEO) • Tetsuro Ono (Executive Officer - Senior General Manager) HALF YEAR RESULTS PRESENTATION 8
Slide 9: Disclaimer
Disclaimer This presentation (Document) has been prepared by Shriro Holdings Limited ABN 29605279329 (‘Shriro Holdings Limited’, ‘the Company’). This document is a presentation to provide background information on the Company and its subsidiaries and is not an offer or invitation or recommendation t