Virgin Wines Uk Plc · LSE:VINO
Virgin Wines Uk — H1 FY2022 Earnings Presentation
17 slides from Virgin Wines Uk's earnings presentation, Mar 15, 2022
Slide 1: FY22 Interim Results
FY22 Interim Results March ’22
Slide 2: H1 highlights
MULTI-AWARD WINNING Online Drinks Retailer Of The Year Winner - 2017 & 2018 Finalist - 2019, 2020 & 2021 H1 highlights » Total revenue of £40.6m, in line with the six months ended 31 December REVENUE ADJUSTED PROFIT BEFORE TAX 2020 (H1 2021) and up 55% compared to the six months ended 31 December 20
Slide 3: Group income statement
MULTI-AWARD WINNING Online Drinks Retailer Of The Year Winner - 2017 & 2018 Finalist - 2019, 2020 & 2021 Unaudited Unaudited 31 Dec 2021 31 Dec 2020 Group income £’000 £’000 statement Revenue 40,609 40,589 Cost of sales (27,979) (27,850) The consolidated interim financial information of the Virgin W
Slide 4: Group balance sheet
MULTI-AWARD WINNING Online Drinks Retailer Of The Year Winner - 2017 & 2018 Finalist - 2019, 2020 & 2021 Unaudited Unaudited Audited 31 Dec 2021 31 Dec 2020 30 June 2021 Group balance £’000 £’000 £’000 sheet ASSETS NON-CURRENT ASSETS Intangible assets 11,027 10,886 10,842 Property, plant and equipme
Slide 5: Group cash flow
MULTI-AWARD WINNING Online Drinks Retailer Of The Year Winner - 2017 & 2018 Finalist - 2019, 2020 & 2021 Unaudited Unaudited 31 Dec 2021 31 Dec 2020 Group cash £’000 £’000 flow CASH FLOWS FROM OPERATING ACTIVITIES PROFIT BEFORE TAXATION 3,159 3,382 Adjustments for: Depreciation and amortisation 464
Slide 6: Profit before tax bridge
MULTI-AWARD WINNING Online Drinks Retailer Of The Year Winner - 2017 & 2018 Finalist - 2019, 2020 & 2021 Profit before tax bridge Consistent year on year performance against tough comparatives £3.4m £0.6m Adjusted £3.3m1 £0.0m £3.2m (£0.2m) (£0.2m) (£0.2m) (£0.2m) £0.5m 2020 2021 2022 2022 PBT H1 PB
Slide 7: Gross margin
MULTI-AWARD WINNING Online Drinks Retailer Of The Year Winner - 2017 & 2018 Finalist - 2019, 2020 & 2021 Gross margin » Maintained margin discipline despite cost inflation from inbound freight and packaging. » Average gross margins remain 300bps higher than H1 FY20. » Down 30bps from H1 FY21 from ch
Slide 8: Customer acquisition
MULTI-AWARD WINNING Online Drinks Retailer Of The Year Winner - 2017 & 2018 Finalist - 2019, 2020 & 2021 Customer acquisition Fully costed £15.72 £13.62 Fully costed £13.48 » A challenging environment with reduced consumer intent to £12.65 £11.75 respond to acquisition activity and aggressive pricin
Slide 9: Loyal and growing subscription base
MULTI-AWARD WINNING Online Drinks Retailer Of The Year Winner - 2017 & 2018 Finalist - 2019, 2020 & 2021 Loyal and growing £26.3m 160k subscription base 150k £21.4m 140k Subscription Schemes » Continued membership and revenue growth from the 130k overall subscription base. £14.8m 120k » The total me
Slide 10: Repeat sales channel performance
MULTI-AWARD WINNING Online Drinks Retailer Of The Year Winner - 2017 & 2018 Finalist - 2019, 2020 & 2021 Repeat sales channel performance Sales through email, web, wine advisors and wine plan finished 5.8% ahead year-on-year delivering sales in line with original expectations and ahead of last year
Slide 11: Development channels
MULTI-AWARD WINNING Online Drinks Retailer Of The Year Winner - 2017 & 2018 Finalist - 2019, 2020 & 2021 Development channels We continue to grow the business focussing on areas that utilise our core competencies and our infrastructure to diversify our Commercial Gift Beers and Spirits earnings into
Slide 12: Operational highlights
MULTI-AWARD WINNING Online Drinks Retailer Of The Year Winner - 2017 & 2018 Finalist - 2019, 2020 & 2021 Operational highlights Fulfilment costs Operational initiatives to drive » A 10 basis points reduction in fulfilment costs as a percentage future gains of sales 11.9% v 12.0% H1 2021. » New initi
Slide 13: Managing the macroeconomic headwinds
MULTI-AWARD WINNING Online Drinks Retailer Of The Year Winner - 2017 & 2018 Finalist - 2019, 2020 & 2021 Managing the macroeconomic headwinds Significant cost pressures make this a challenging environment for both managing and forecasting the business. The Group’s disciplined approach to effective c
Slide 14: Growth opportunities
MULTI-AWARD WINNING Online Drinks Retailer Of The Year Winner - 2017 & 2018 Finalist - 2019, 2020 & 2021 Growth opportunities The cash generative nature of the business means there are a number of additional ways we can continue to grow the business. M&A International Investment in our The ‘On Trade
Slide 15: Brand and ESG
MULTI-AWARD WINNING Online Drinks Retailer Of The Year Winner - 2017 & 2018 Finalist - 2019, 2020 & 2021 UR BRAND DNA WE LIVE AND BREATH Brand and ESG ON Our Purpose » Development of updated Brand DNA Board in conjunction with Virgin Group. TO MAKE PEOPLE’S LIFE » Internal ‘cross-departmental’ brand
Slide 16: Outlook
MULTI-AWARD WINNING Online Drinks Retailer Of The Year Winner - 2017 & 2018 Finalist - 2019, 2020 & 2021 Outlook A robust business model Current trading Tackling headwinds » A robust business model » Sales growth through the » Plans in place to develop that has proved over the key WineBank subscript
Slide 17: Thank you.
MULTI-AWARD WINNING Online Drinks Retailer Of The Year Winner - 2017 & 2018 Finalist - 2019, 2020 & 2021 Thank you.