Slide 1: H1 2023 Results
SHOWROOMPRIVE H1 2023 Results July 2023 July 2023
Slide 2: Key Business Highlights
KEY BUSINESS HIGHLIGHTS July +87% c.14K 2023 Sales Growth members Full deployment Strong performance of Launch of Beauté Privée Unlimitail The Bradery community Joint Venture 5-year anniversary of The Bradery Creation of Beaute Privee’s exclusive At the forefront the joint venture community to
Slide 3: 1. H1 2023 Results Overview
1. H1 2023 Results Overview
Slide 4: Key Financial Highlights
KEY FINANCIAL HIGHLIGHTS 22-23 Group net revenues increased by 8.5% to €331.3m in H1 2023 in H1 2022 H1 2023 % Chg line with our expectations Gross Merchandise Volume* 431.9 497,7 15.2% 4th consecutive quarter of growth in line with our expectations Net revenues (€m)** 305.4 331.3 8.5% Stabili
Slide 5: Focus on Customer Metrics
FOCUS ON CUSTOMER METRICS Average Revenue Per Buyer by Geography Active Buyers By Geography € € million 0.5% +1.6% 1.91 1.92 (1.5)% Total 1.52 1.49 146 148 0.39 8.2% 0.42 H1 2022 H1 2023 Average Basket Size 141 147 145 149 € million 3.8% 51.8 53.8 55.8 46.8 53.3 47.6 H1 2022 H1 2023 Total Orders H1
Slide 6: Net Revenue Performance – By Geographies
NET REVENUE PERFORMANCE – BY GEOGRAPHIES Net Sales IFRS breakdown € million Q2 2023 Net Revenue H1 2023 Net Revenue 8.5% 5.3% 331.3 305.4 66.5% 166.8 47.7% 175.6 4.1 6.9 2.3 3.3 6.9% 4.1% 245.9 262.8 133.0 138.5 11.3% 6.9% 55.4 61.7 31.6 33.8 H1 2022 H1 2023 Q2 2021 Q2 2022 International France Othe
Slide 7: Return to a Satisfactory Growth Trajectory
RETURN TO A SATISFACTORY GROWTH TRAJECTORY Net sales IFRS – BY QUARTERS € million 19-23: 19-23: 9.7% 19-23: 13.5% 5.7% 388 331 302 303 305 210 178 185 167 176 147 156 155 139 118 Q1 Q2 H1 2019 2020 2021 2022 2023 Covid-related years
Slide 8: Overview of H1 2023 Performance
OVERVIEW OF H1 2023 PERFORMANCE H1 2023 REVENUE GROWTH DRIVEN BY THE CONTRIBUTION OF THE BRADERY AND THE RELEVANCE OF OUR CORE BUSINESS DESPITE THE CHALLENGING ECONOMIC CONDITIONS Following a strong Q1 2023 growth year-on-year driven by a favourable comparable basis, SRP records 5.3% growth y-o-y
Slide 9: Good Business Momentum
GOOD BUSINESS MOMENTUM SUCCESSFUL INITIATION OF OUR ACE ROADMAP Strong start of the year for our growth levers that are fulfilling all their promises SRP Media has showed its resilience within a difficult market for advertisers with a flat performance y-o-y and is securing its future growth with
Slide 10: Our Agile Model Able to Adapt to Market Challenges
OUR AGILE MODEL ABLE TO ADAPT TO MARKET CHALLENGES REVENUE BREAKDOWN FY H1 FY H1 2021 2022 2022 2023 FIRM SALE DELIVERY IN 24 -48 HOURS TO OUR CUSTOMERS SHORT DELIVERY TIME SRP OWN INVENTORY Speedy execution and satisfying customer service 28% 27% 34% 37% DROP & SALE DELIVERY IN 24 -48 HOURS AS STOC
Slide 11: Resilience of EBITDA Margin
RESILIENCE OF EBITDA MARGIN EBITDA IFRS € million +50 Bps 2.3% 8.9% 8.5% 4.5% 3.7% 2.3% 2.8% 35.0 33.0 15.2 11.2 9.3 8.1 7.0 H1 2020 H2 2020 H1 2021 H2 2021 H1 2022 H2 2022 H1 2023 Covid-related period x Margin
Slide 12: 2. H1 2022 Financial Results
2. H1 2022 Financial Results
Slide 13: H1 2023 P&L Overview
H1 2023 P&L OVERVIEW 22 - 23 € in millions H1 2020 H1 2021 H1 2022 H2 2022 H1 2023 % Growth 1 1 Revenue increased 8.5% y-o-y as the comparison basis normalises and Net Revenues 302.7 388.3 305.4 351.9 331.3 8.5% both SRP and consumers adapt to the stabilisation of the economic Cost of Goods Sold (1
Slide 14: On Track to Improve Our Profitability
ON TRACK TO IMPROVE OUR PROFITABILITY Strong commercial measures undertaken from H2 2022 are reaping its first rewards with the significant improvement of gross margin The very strict purchasing policies (profitability thresholds requirements) and subsequent negotiations has led to a significant
Slide 15: Cash Flow and Net Debt
CASH FLOW AND NET DEBT EBITDA to net change in cash Inventories position € millions € millions 30-Jun-2022 85.0 Satisfactory EBITDA as profitability preserved EBITDA 9.3 thanks to the agile business model 31-Dec-2022 78.7 30-Jun-2023 79.8 Normalisation of firm purchases implies a reduction Chang
Slide 16: 4. Outlook
4. Outlook
Slide 17: H2 2023 Top Priorities
H2 2023 TOP PRIORITIES 1 Profitability improvement 2 Launch a new targeted Ad campaign to increase Brand awareness on a national scale Targeted campaign to raise the top of mind with increased visibility in locations more favourable for mind availability Full deployment of Showroomprive new Bran
Slide 18: Appendix
Appendix
Slide 19: EBITDA to Net Results Reconciliation
EBITDA TO NET RESULTS RECONCILIATION EBITDA to Net Results – H1 2023 € millions Jun-2022 Jun-2023 Net income for the period 1,561 (2,803) Amortisation of assets recognized through business combination 567 818 Deprec. & Am. of tangible and intangible assets 7,350 7,271 o/w amort. in Logistics & Fulfi