Signa Sports United N.v. · OTC:SSUNF
Signa Sports United — Q4 FY2021 Earnings Presentation
17 slides from Signa Sports United's earnings presentation, Jan 26, 2022
Slide 1: Exhibit 99.1
Exhibit 99.1
Slide 2: Disclaimer and forward-looking statements
This presentation (“Presentation”) is provided by SIGNA Sports United N.V. (the “Company”, and together with its consolidated subsidiaries, the “Group”) for informational purposes only. The information contained herein does not purport to be all-inclusive and neither the Company nor any of its or th
Slide 3: Pro forma LTM key metrics
(2) (3) PF LTM Revenue PF LTM Net Revenue Growth PF LTM Gross Margin PF LTM Adjusted EBITDA 5.4% of LTM Net Revenue PF LTM Active Customers PF LTM Total Visits PF LTM Net Orders PF LTM AOV Source: Company information. Note: SSU financial year end as of 30-Sep and LTM refers to twelve-month period en
Slide 4: Q4 FY21 highlights
– Demand remained elevated across verticals as global megatrends remain powerful drivers of consumer interest – Full-bike inventory constrained amidst C-19 supply disruptions; strong demand driving rapid inventory turnover in full- bike category – Supply constraints starting to impact other vertical
Slide 5: Active customers, visits and orders growth
Targeted marketing spend (M) resulted in accelerating growth in customers and conversion, leading to 5.1M Q4 FY21 active customers YoY Growth Q4 FY20 Limited full-bike inventory YoY Growth resulting in slightly lower Q4 FY21 and FY21 AOV, offset by growth in net orders Q4 FY19 Q4 FY20 Q4 FY21 Q4 FY2
Slide 6: Q4 and FY21 financial results
19% YoY growth 31% YoY growth FY21 Net revenue growth in excluding full- excluding full- bike category bike category (M) Q4 FY21 of 10% despite constrained inventory across full-bike category, 19% excl. full-bike Q4 FY20 Q4 FY21 FY20 FY21 YoY Growth YoY Growth YoY Growth YoY Growth Strong demand res
Slide 7: Pro forma FY2021 for announced acquisitions
Pro Forma For Full-Year Impact of Announced Acquisitions (M) (M) FY2021 PF FY2021 FY2021 PF FY2021 FY21 PF FY21 FY21 PF FY21 Total Visits (M) 274.4 435.9 Gross Profit (€M) 339.1 530.1 Net Orders (M) 7.1 11.5 Gross Profit Margin 38.9% 38.9% Net AOV (€) 100.6 101.9 Adj. EBITDA (€M) 27.7 73.2 Adj. EBIT
Slide 8: FY2022 outlook
Confirming previous management assessment (M) €1,400 - €1,550 €1,362 €872 FY2021A PF FY2021 PF FY2022E – Favorable structural megatrends remain, double digit topline growth expected to return once supply chain pressures ease towards the end of CY2022 – Uncertainty relating to consumer demand against
Slide 9: Long-term margin targets
Dynamic pricing E-commerce Improving wholesale economics Gross Margin 38.9% 38.9% 37 – 39% Private label share Increased automation Personnel (10.5%) (10.1%) (8) – (10) % Logistics efficiencies Logistics (10.4%) (10.3%) (8) - (9)% Marketing (8.2%) (7.0%) (5) – (6) % Growing repeat share IT / Other (
Slide 10: Investment highlights
Large, fragmented sports retail market with high long-term growth in focus verticals Market leading sports specialist webshop brands with ~7M+ active customers Robust, double digit organic growth with demonstrated ability to enter new markets Proven unit economics and expanding margins Unique global
Slide 11: Appendix
Slide 12: Revenue retention cohorts
(1) % Revenue Retention 2017 2018 2019 2020 2021 2017 2018 2019 2020 2021 Revenue Retention Cohorts Older Than 1+ Years Cohorts prior 2016 Cohort 2016 Cohort 2017 Cohort 2018 Revenue Retention All Cohorts Cohort 2019 Cohort 2020 Cohort 2021 Source: Company information. Note: Customer retention data
Slide 13: Quarterly KPIs legacy and pro forma
Legacy SSU Pro Forma SSU Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 PF Q2 PF Q3 PF Q4 PF FY2020 FY2020 FY2020 FY2020 FY2020 FY2021 FY2021 FY2021 FY2021 FY2021 FY2021 FY2021 FY2021 FY2021 FY2021 LTM Active Customers (M) 3.2 3.3 3.6 3.9 3.9 4.2 4.5 5.0 5.1 5.1 7.0 7.3 7.4 7.4 7.4 YoY Growth 17.0% 14.6% 22.7% 27.1% 27
Slide 14: Adjusted EBITDA reconciliation
FY Q4 FY 2021 2021 Net Loss (€21.1) (€46.0) Income Tax Benefit (3.0) 1.6 Earnings before tax (EBT) (€24.1) (€44.4) Share of results of associates 0.4 1.3 Finance income (2.9) (3.0) Finance costs 1.1 9.7 Depreciation and amortization 8.5 30.9 EBITDA (€17.0) (€5.5) Total EBITDA Adjustments 17.9 33.2 T
Slide 15: FY2021 pro forma adjustments
SSU FY2021 Pro Forma Adjustments EUR in millions SSU (-) MW Stub SSU SA (+) WCRC (+) MW / TE 2021 PF €872.0 (€16.5) €855.4 €417.7 €89.3 €1,362.4 Net Revenue (-) Cost of Materials (532.8) 8.3 (524.6) (259.0) (48.7) (832.3) €339.1 (€8.3) €330.9 €158.6 €40.6 €530.1 Gross Profit % Margin 38.9% 50.0% 38.
Slide 16: KPI definitions
KPI Definition Customers with one or more purchases within the last 12 months, irrespective of Active Customers cancellations or returns Number of visits including mobile and website. Cut off at 30 minutes of inactivity and at date change. Total Visits Not cut off at channel change during session Ne
Slide 17: SSU Investor Relations
SSU Investor Relations https://investor.signa-sportsunited.com SSU Investors Contact Matt Chesler, CFA Allison + Partners matt.chesler@allisonpr.com +1 646 809 2183 SIGNA SPORTS UNITED 17
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