Lulu Retail Holdings Plc · ADX:LULU
Lulu Retail — Q3 2024 Earnings Presentation
20 slides from Lulu Retail's earnings presentation, Nov 20, 2024
Slide 1: Q3 & 9M 2024 Earnings Presentation
Lulu Retail Q3 & 9M 2024 Earnings Presentation 20 November 2024
Slide 2: Disclaimer
Disclaimer No statement in this document is intended to be nor may be construed as a profit forecast. Any statements made in this document which could be classed a “forward-looking” are based upon various assumptions, including, management’s examination of historical operating trends, data contained
Slide 3: Business Overview
Business Overview
Slide 4: Key Financial & Operational Highlights 9M 2024
Key Financial & Operational Highlights 9M 2024 Key Financials Retail Operations E-commerce 9M & Q3 2024 Sales Retail Footprint Selling Area E-com Sales $5.7bn 241* 1.3mn $237mn +5.7% growth YoY Stores Square Meters $1.8bn +3 express stores in Q3 24 +8.0k sqm in Q3 24 + 83.5% growth YoY +6.1% growth
Slide 5: Deeply Rooted in All GCC Markets with Strong Omni-Channel Presence
Deeply Rooted in All GCC Markets with Strong Omni-Channel Presence Pan-GCC Player with Leading Market Share(1) Catering to Various Shopping Experiences(2) # : Lulu Market Position in Modern Trade by RSV (2023) c. 9,200 sqm Average Selling Area Bahrain 1 117 Hypermarkets (5) 1 Kuwait 12 c. 2,400 sqm
Slide 6: Delivering on Our Growth Strategy
Delivering on Our Growth Strategy Existing 01 02 Operating 03 04 New Store Further Stores Leverage and Rollouts Upside Growth Efficiencies 12 new stores in 9M 24 – 6 LFL growth of +2.2% YoY hyper, 5 express and 1 mini Scale driven gross margin 29.3% penetration of market expansion of +80 bps Private
Slide 7: Performance Highlights
Performance Highlights
Slide 8: Store Roll-Out Supporting Revenue Growth
Store Roll-Out Supporting Revenue Growth Revenue ($mn) Store roll-out +12 Gross store additions during 9M 24 with YoY Growth: 6.1%, YoY Growth: 5.7%, +3 in Q3 24 +c.$106mn +c.$310mn 1 3 2 1 1 241 LFL Change 233 YoY (%) 1.1% 1.2% 3.5% 2.2% 3 5 12 12 16 15 (2) (2) 22 23 31 5,727 29 5,417 53 56 1,753 1
Slide 9: Increased Sales Across Geographies
Increased Sales Across Geographies Segment Revenue* ($mn) 5,727 Growth YoY 5,417 Growth YoY 351 7.5% UAE 318 6.9% UAE 502 469 5.7% KSA 816 6.7% KSA 815 3.5% Oman 4.7% Oman 886 847 (0.2%) Qatar 0.2% Qatar 10.2% Kuwait 1,109 7.0% Kuwait 1,039 1,753 102 1,859 118 15.3% Others 10.5% Others 151 254 166 2
Slide 10: Strong Profitability and Improving Margins
Strong Profitability and Improving Margins Net Profit for the Period* Gross Profit ($mn) EBITDA ($mn) ($mn) YoY growth: 12.4%, YoY growth: 9.3%, YoY growth: 9.9%, YoY Growth: 6.0%, +c.$48mn +c.$112mn YoY growth: 126.0%, YoY Growth: 73.3%, +c.$16mn +c.$32mn +c.$20mn +c.$65mn 22.1% 23.4% 22.3% 23.1% 9
Slide 11: Robust Balance Sheet and High Cash Flow Generation
Robust Balance Sheet and High Cash Flow Generation CAPEX (1)($mn) Cash Flow (2,3) ($mn) Leverage ($mn) Maintenance Lease Liability Growth Financial Debt Cash Conversion Net debt / EBITDA Cash Capex as (%) (1,2) % of Sales 1.9% 1.7% IFRS 16 3.1x 3.2x 80.4% 76.8% 80.5% 82.6% Excluding 1.3x 1.4x Mainte
Slide 12: Summary and Outlook
Summary and Outlook
Slide 13: A Positive Period of Robust Growth
A Positive Period of Robust Growth Successful listing Continued positive Clear market Robust financial Reiterated on ADX macro tailwinds leadership performance guidance Record retail investor interest, GDP, population and private #1 pan-GCC full-line retailer, Q3 2024 revenue of $1.86 Reiterate our
Slide 14: Appendix
Appendix
Slide 15: Lulu at a Glance
Lulu at a Glance
Slide 16: Home-Grown Champion With Proven Track Record Over 50 Years
Home-Grown Champion With Proven Track Record Over 50 Years Pre-Lulu GCC Expansion and Build Out of Sourcing Platform Omni-Channel Expansion Foundation 200th Store Yusuff Ali MA 100th Store GCC store openings Lulu Entered Kuwait Bahrain Opened First GCC store openings Organised Retail in UAE Entry En
Slide 17: Pan-GCC's Largest & Fastest Growing Full-Line Retailer
Pan-GCC’s Largest & Fastest Growing Full-Line Retailer 1 Market Large and Growing Addressable Market Supported by Strong Macro Tailwinds and Transformation Agendas 2 Scale GCC’s Largest Retailer Distinguished by Scale, Agility and Trusted Partnerships 3 Customer Iconic Brand Recognised for Customer
Slide 18: Flexible, Dynamic Business Model, with High Barriers to Entry
Flexible, Dynamic Business Model, with High Barriers to Entry Local Expertise Agile Approach Diverse SKU Base for All Ethnicities and Budgets Highly Integrated Supply Chain Significantly broadens potential customer base underpinned Efficient sourcing underpinned by global over 200,000 active SKUs so
Slide 19: Unmatched Global Sourcing and Logistics Network
Unmatched Global Sourcing and Logistics Network Bringing the World’s Products to the GCC Competitive Advantages Bargaining power resulting from significant regional scale Great Britain Canada Poland Turkey Larger and more diverse product USA Spain Italy assortment China Thailand Vietnam Egypt Philip
Slide 20: Thank You
Thank You For enquiries, please contact Lulu Investor Relations: Nidhin Jose investor.relations@ae.lulumea.com