Ramsdens Holdings Plc · LSE:RFX
Ramsdens — H1 FY25 Earnings Presentation
25 slides from Ramsdens's earnings presentation, Jun 4, 2025
Slide 1: Unaudited Interim Results for the six months ended 31 March 2025
Unaudited Interim Results for the six months ended 31 March 2025
Slide 2: Disclaimer
Disclaimer This document, which comprises a presentation of the results for the six months ended 31 March 2025 (the "Presentation"), has been prepared by, and is the sole responsibility of, Ramsdens Holdings PLC (the "Company"). This Presentation has not been approved by an authorised person in acco
Slide 3: Contents
CONTENTS Summary H1 FY25 Overview Financials Outlook APPENDICES Who we are Lease portfolio The Board Image credit: Andrew Heptinstall Photography
Slide 4: Full year profits expected to exceed £15m following a record first half
Full year profits expected to exceed £15m following a record first half Financial highlights Operational highlights • An excellent performance with Profit Before Tax • New stores opened in Burton & Grantham, with 169 increasing 54% to £6.1m (HY24: £4.0m) stores as at 31 March (HY24: 167) • Purchase
Slide 5: Overview of Ramsdens
Overview of Ramsdens Profit Before Tax growth Dividend growth Profit before tax (£'000) Dividend declared (pence per share) 16,000 12 14,000 10 12,000 10,000 8 8,000 6 6,000 4 4,000 2 2,000 0 0 FY17 FY18 FY19 FP20 FY21 FY22 FY23 FY24 FY25 FY17 FY18 FY19 FP20 FY21 FY22 FY23 FY24 LTM Mar-25 Interim -
Slide 6: Strong Foundations
Strong Foundations Financial base Well invested systems Well established bespoke Diversified income streams customer centric core operating Strong cash generation system Cash to invest Integrated websites Can leverage off head office cost base Strong consumer brand Great culture Advertising through
Slide 7: Clear growth strategy
Clear growth strategy CAPITALISE ON DRIVE GROWTH FROM GROW ONLINE EXPAND STORE CONSOLIDATION CORE ESTATE PRESENCE ESTATE OPPORTUNITIES High street and online are complimentary Replicate the established successful store model in new towns Latent growth to come through from new store openings in recen
Slide 8: Financials
2) I < oO Zz x 2 i
Slide 9: Summary profit & loss
Summary profit & loss Key highlights Consolidated profit & loss ▪ Revenue increased 18% to £51.6m (HY24: £43.8m) HY25 HY24 6m change FY24 £000s ▪ Gross profit increased 20% to £27.1m (HY24: £22.5m) driven (6 months) (6 months) % (12 months) primarily by purchase of precious metals which increased 53
Slide 10: Purchase of precious metals – gross profit increased 53% year on year
Purchase of precious metals – gross profit increased 53% year on year History Opportunities and risks £000s HY25 HY24 FY24 + Sterling gold price – expectation is for (6 months) (6 months) (12 months) price to remain high in short to medium Revenue 18,433 14,113 31,151 term but could fall back from r
Slide 11: Jewellery retail – gross profit increased 18% year on year
Jewellery retail – gross profit increased 18% year on year History Opportunities and risks + Benefit of recent investments in stock HY25 HY24 FY24 £000s (6 months) (6 months) (12 months) levels and presentation Revenue 20,678 17,528 35,607 + Staff training and development of Gross profit 7,907 6,673
Slide 12: Pawnbroking – gross profit increased 11% year on year
Pawnbroking – gross profit increased 11% year on year History Opportunities and risks HY25 HY24 FY24 + Sterling gold price allows higher loans on gold jewellery £000s (6 months) (6 months) (12 months) Revenue 6,856 6,575 13,408 + Geographic expansion and latent growth in new stores Gross profit 6,20
Slide 13: Foreign currency exchange – gross profit increased 1% year on year
Foreign currency exchange – gross profit increased 1% year on year History Opportunities and risks HY25 HY24 FY24 £s (6 months) (6 months) (12 months) Total currency exchanged 146.1m 143.4m 429.0m Sales of currency 137.9m 134.6m 408.8m Purchases of currency 8.2m 8.8m 20.2m Gross profit 5.1m 5.0m 14.
Slide 14: Cash flow statement
Cash flow statement Key highlights Cash flow statement ▪ Net cash flows from operating activities in HY25 were £5.1m (HY24: £5.0m) HY25 HY24 FY24 £000s (6 months) (6 months) (12 months) ▪ Working capital cash outflows totalled £1.8m in HY25 and largely comprised investment in stock of £2.4m EBITDA 8
Slide 15: Financial position
Financial position Key highlights Balance sheet ▪ Strong balance sheet with net assets of £54.7m (£53.6m £000s As at 31 March As at 31 March As at 30 September 2025 2024 2024 at September 2024), including cash of £10.3m (£15.8m at Non-current assets September 2024) Property, plant and equipment 8,33
Slide 16: Summary & Outlook
3 25 nO ESESESESES ¥& Trustpilot
Slide 17: Summary and outlook
Summary and outlook • Robust business model with diversified Profit before tax (£'000) income streams proven to enable strong 16,000 growth 14,000 12,000 • Growing profitability, profit before tax of £6.1m 10,000 (HY24: £4.0m), with growth in all core income 8,000 streams but particularly strong per
Slide 18: Appendices
APPENDICES Who we are Lease portfolio The Board
Slide 19: Ramsdens is a diversified financial services provider and retailer
Ramsdens is a diversified financial services provider and retailer • Headquartered in Middlesbrough • 169 stores including one franchised store • Mainly located in Northern England, Scotland and Wales • Over 800 employees • Dedicated customer websites for all core services • Key services are; • Fore
Slide 20: Overview of four key income streams
Overview of four key income streams Foreign Currency Retail Jewellery • Predominantly exchanging currency notes for holiday makers (85% • Sale of new and second hand jewellery, including premium watches is selling €s, 10% is selling US$s and 5% all other currencies) • Retail revenue split broadly ev
Slide 21: Overview of four key income streams
Overview of four key income streams Pawnbroking Purchase of Precious Metals • Loans secured against valuable jewellery items • Purchase of unwanted or broken jewellery items from customers • Loan term of six months • Items are either retailed or smelted for sale through wholesale market • Interest r
Slide 22: New stores
New stores Key highlights ▪ Two new stores opened in the Period: Grantham and Burton ▪ In the UK there are over 350 locations with a population of greater than 30,000 of which London represents only one. There is therefore significant opportunity to continue with our expansion plans ▪ Healthy pipeli
Slide 23: Branch estate lease portfolio
Branch estate lease portfolio Lease/break position at March 2025 ▪ 166 leased stores as at March 2025 (nb one franchisee and two 90 84 owned freehold stores) 80 ▪ Average lease term remaining (to end of lease or break if earlier) is 17 70 months (as at March 2024 – 17 months) with only one trading s
Slide 24: The Ramsdens Board
The Ramsdens Board Peter Edward Kenyon, Chief Executive Officer Peter joined Ramsdens in November 2001 as Operations Director and was appointed Chief Executive Officer in January 2008. Peter led the MBO in 2014 and has been responsible for over 30 acquisitions for the Group. He is responsible for ov
Slide 25: The Ramsdens Board
The Ramsdens Board Simon Edward Herrick, Non-Executive Chairman, Chair of the Nominations Committee Simon joined the board of the Company on 1 January 2017. Simon has significant experience in senior executive roles including positions as CFO of Debenhams plc, Northern Foods plc, Darty plc and PA Co