Lulu Retail Holdings Plc · ADX:LULU
Lulu Retail — Q4 2024 Earnings Presentation
24 slides from Lulu Retail's earnings presentation, Feb 10, 2025
Slide 1: Q4 & FY24 Earnings Presentation
Q4 & FY24 Earnings Presentation Q4 & FY24 Earnings Presentation
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 Q4 & FY24 EARNINGS PRESENTATION
Slide 4: Key Financial & Operational Highlights
Key Financial & Operational Highlights Key Financials Retail Operations E-commerce FY & Q4 2024 Sales Retail Footprint Selling Area E-commerce Sales $7.6bn $1.9bn 250 stores 1.3mn $326mn +4.7% YoY +1.8% YoY +21 Stores In FY 24 +13k Sqm In Q4 24 + 70% YoY FY & Q4 2024 EBITDA Loyalty Members Private L
Slide 5: Key Financial & Operational Highlights
Key Financial & Operational Highlights Key Financials Retail Operations E-commerce FY & Q4 2024 Sales FY & Q4 2024 EBITDA $7.6bn $1.9bn $786.3mn $219.2mn +4.7% YoY +1.8% YoY 10.32% Margin 11.57% Margin Good revenue performance driven by higher footfall across stores; robust EBITDA margins, supported
Slide 6: Key Financial & Operational Highlights
Key Financial & Operational Highlights Key Financials Retail Operations E-commerce Retail Footprint Selling Area Loyalty Members Private Label (% of FY24 sales) 250 stores 1.3mn 5.5mn 29.6% +21 Stores In FY 24 +13k Sqm In Q4 24 As at Dec ‘24 +110 Bps YoY Continued expansion in store footprint, havin
Slide 7: Key Financial & Operational Highlights
Key Financial & Operational Highlights Key Financials Retail Operations E-commerce E-commerce Sales E-COMMERCE SALES E-com Sales as a % of Retail Sales $326mn $326MN 4.5% ++ 70% 70% GROWTH YOY YoY +20 Bps since 9M 24 +180 Bps since FY 23 Strong progress in Omni-channel, with E-commerce sales up 70%
Slide 8: Deeply Rooted In All GCC Markets
Deeply Rooted In All GCC Markets Pan-GCC Market Share Various Experiences Lulu Market Position In Modern Trade By RSV (2024) In Bahrain, Kuwait, Qatar, #1 Oman And KSA Kuwait 1 1 Bahrain 12 Qatar 16 (5%) 1 #1 Pan-GCC Full Line Retailer 24 (10%) (5%) 107 2 UAE 32 (43%) Oman 1 250 Stores In The GCC (1
Slide 9: With Strong Omni-channel Presence
With Strong Omni-channel Presence Pan-GCC Market Share Various Experiences Hyper- 117 Express 109 Mini 24 Online 5 markets Stores Marts Platforms 9,057 Sqm 2,312 Sqm 127 Sqm 300,000 Average Selling Area Average Selling Area Average Selling Area # Of Daily Visitors (4) Source: Company information, Eu
Slide 10: Performance Highlights: Store Roll-out Supporting Revenue Growth
Performance Highlights: Store Roll-out Supporting Revenue Growth Q4 & FY24 EARNINGS PRESENTATION
Slide 11: Delivering On Our Growth Strategy
Delivering On Our Growth Strategy Existing Stores Growth New Store Rollouts • LFL growth of +2.3% YoY • 21 new stores in 2024 – 6 hyper, 12 express • 44% category focussed promotions and 3 mini markets • Loyalty program rolled across all regions, • 71% stores are express and mini markets with c.5.5
Slide 12: Robust Revenue Performance
Robust Revenue Performance Revenue ($mn) • FY24 revenue growth of 4.7% YoY, led by strong growth in Fresh Foods, up 10.3% YoY in FY24. 7,621 7,278 • Like-for-like (LFL) sales growth of 2.3% YoY, supported by footfall initiatives across stores and product mix optimisation. 21 • Private Label remains
Slide 13: Store Roll-out Supporting Revenue Growth
Store Roll-out Supporting Revenue Growth STORE ROLL-OUT ($mn) +21 Gross store additions during FY 24, with +9 stores in Q4 24 • New stores remains a priority, having opened 6 hypermarkets, 12 express stores and 3 mini markets opened during Jan 24 – Dec 24, increasing retail 250 233 6 3 2 1 space by
Slide 14: Segment Revenue ($Mn) – Increased Sales Across Geographies
Segment Revenue ($Mn) – Increased Sales Across Geographies Q4 2024 Segment Revenue FY24 Segment Revenue UAE: Strong performance in both Q4 and FY24 period, Revenue up 2.7% YoY in Q4, driven by four new store openings. In FY24, the UAE delivered revenue 1,894 7,621 growth of 5.8% YoY, supported by st
Slide 15: Performance Highlights: Strong Profitability In 2024
Performance Highlights: Strong Profitability In 2024 Q4 & FY24 EARNINGS PRESENTATION
Slide 16: Profitability
Profitability Gross Profit ($mn) EBITDA ($mn) Net Profit From Continuing Operations ($mn) Gross Profit Margin (%) EBITDA Margin (%) Net Profit Margin (%) 23.4% 23.4% 23.0% 23.2% 11.71% 11.57% 10.35% 10.32% 5.6% 3.4% 2.6% 2.8% Lease-adjusted EBITDA margin Lease-adjusted EBITDA +111bps YoY in Q4 24 ma
Slide 17: Gross Profit ($mn)
Gross Profit ($mn) Gross Profit ($mn) • Gross Profit grew 5.4% YoY to USD 1.7 billion in Gross Profit Margin (%) FY24, with margins of 23.2%, a 20bps improvement compared to 2023. 23.4% 23.4% 23.0% 23.2% • Gross margin improvement of +20 bps in FY 24 led by improved product mix and increased sales i
Slide 18: EBITDA ($mn)
EBITDA ($mn) EBITDA ($mn) • EBITDA reached $786.3 million in FY24, with stable margins of 10.32%, driven by an increase in gross EBITDA Margin (%) margins, slightly offset by an increase in operating expenses, mainly due to lease modifications. 11.71% 11.57% 10.35% 10.32% • FY24 lease-adjusted EBITD
Slide 19: Net Profit For The Period ($mn)
Net Profit For The Period ($mn) Net Profit From Continuing Operations ($mn) • Strong double-digit growth in Net Profit from continuing operations, up 12.6% YoY to $216.3 Net Profit Margin (%) million in FY 24, with net profit margin improving by 20 bps YoY to 2.8%. 5.6% 3.4% 2.6% 2.8% • Margin expan
Slide 20: Robust Balance Sheet & High Cash Flow Generation
Robust Balance Sheet & High Cash Flow Generation Cash Flow (1) ($Mn) CAPEX(1) ($Mn) Cash Conversion (%) (1) Leverage ($Mn) Capex as % of Sales Cash Conversion 1 (%) 2.1% 1.8% 78.4% 82.6% 80.2% 82.6% 2,536 2,528 650 964 974 604 1,874 1,900 150 137 173 181 (302) (346) Sep’24 Dec’24 FY'23 FY'24 Q4'23 Q
Slide 21: Summary And Outlook
Summary And Outlook Q4 & FY24 EARNINGS PRESENTATION
Slide 22: A Positive Period Of Robust Growth
A Positive Period Of Robust Growth Successful Continued Clear Market Robust Financial Medium Term Listing On ADX Positive Leadership Performance Outlook Macro Tailwinds Record retail investor GDP, population and #1 pan-GCC full-line Solid revenue and Reiterate our medium- interest, attracting privat
Slide 23: Q&A
Q&A Q4 & FY24 EARNINGS PRESENTATION
Slide 24: Q4 & FY24 Earnings Presentation
Q4 & FY24 Earnings Presentation For enquiries, please contact Lulu Investor Relations: investor.relations@ae.lulumea.com Earnings Call: Lulu Retail will host an earnings conference call followed by a Q&A session for investors and analysts on Tuesday 11th February 2025, at 2:00 pm UAE time / 10:00am