Lovisa Holdings Ltd. · ASX:LOV
Lovisa — H1 2025 Earnings Presentation
18 slides from Lovisa's earnings presentation, Feb 24, 2025
Slide 1: Lovisa Holdings Limited FY25 Half Year Results
Lovisa Holdings Limited FY25 HALF YEAR RESULTS VICTOR HERRERO CHIEF EXECUTIVE OFFICER CHRIS LAUDER CHIEF FINANCIAL OFFICER
Slide 2: Forward-looking statements
Some of the information contained in this presentation contains “forward-looking statements” which may not directly or exclusively relate to historical facts. These forward-looking statements reflect the current intentions, plans, expectations, assumptions and beliefs about future events of Lovisa H
Slide 3: Contents
CONTENTS 1. HALF YEAR OVERVIEW 2. FINANCIAL OVERVIEW 3. TRADING PERFORMANCE – SALES & GROSS MARGIN 4. EARNINGS 5. CASHFLOW & BALANCE SHEET 6. STORE GROWTH 7. STRATEGY RECAP 8. TRADING UPDATE 9. SUMMARY 10. APPENDICES 3
Slide 4: FY25 Half Year Overview
FY25 HALF YEAR OVERVIEW • Total sales up 8.8% on prior half year reflecting continued • 57 new stores opened for the period with 14 growth in the store network closures/relocations • Global comparable store sales for the period up 0.1% • Improved rollout trajectory in Q2 after slower 2H FY24 and Q1
Slide 5: Financial Overview
FINANCIAL OVERVIEW ($000) HY25 HY24 Variance Profit growth continues Revenue 405,926 373,024 8.8% • Revenue up 8.8% on HY24 with comparable store sales up 0.1% for the period Gross profit 334,669 301,148 11.1% • Gross Margin % again strong at 82.4%, up 170bps EBITDA 140,940 128,364 9.8% • Higher eff
Slide 6: Trading Performance – Sales
TRADING PERFORMANCE – SALES TOTAL SALES (AUD$M) Sales growth continues $400 $350 • Global Sales Revenue up 8.8% to $406m, with continued store $300 network growth driving this outcome $250 • Europe sales reflect continued new store growth with 25 new $200 $406 $373 stores opened for the period with
Slide 7: Trading Performance – Gross Margin
TRADING PERFORMANCE – GROSS MARGIN 90.0% Historical Gross Margins Outstanding gross margin result 80.0% • Gross profit increased 11.1% to $334.7m 70.0% • Gross Margin was again strong up 170 basis points to 60.0% 82.4% 50.0% • Gross Margin growth delivered on top of the 40 basis 81.0% 80.7% 82.4% 40
Slide 8: Earnings
EARNINGS Earnings growth maintained $100.0 EBIT $m $80.0 • EBIT up 10.7% to $90.2m, NPAT up 6.5% to $56.9m $60.0 • CODB higher due to growth in the store network and inflationary $90.2 pressures, however offset by CEO LTI expense lower at $1.3m $40.0 $81.6 $70.1 compared to $6m in the prior half yea
Slide 9: Cash Flow
CASH FLOW ($000s) HY25 HY24 Continued strong cash generation Cash from operating activities 141,084 149,543 • Cash flow from operating activities $141m, with working Net interest paid (9,680) (8,859) capital continuing to be well managed Tax paid (14,403) (13,384) • Capital expenditure of $17m inclu
Slide 10: Balance Sheet
BALANCE SHEET Balance Sheet remains strong ($000s) HY25 FY24 HY24 Cash 54,709 30,520 58,516 • Inventory holdings increased in line with store network growth, with Trade and Other Receivables 20,060 19,445 20,464 clean stock position at the end of the period Current Tax Receivables 14,451 11,521 206
Slide 11: Store Growth
STORE GROWTH Global expansion continued with 57 new stores opened Store number growth Country HY25 FY24 HY24 Var 6 mths New Stores Relocations Closures Var YOY • 57 new stores opened in the period offset by 14 Australia 180 178 175 2 4 (1) (1) 5 closures/relocations, with constant focus on keeping N
Slide 12: Strategy Recap
STRATEGY RECAP Our strategic plans remain in place OUR PAST OUR FUTURE OUR PRESENT Continued expansion both in existing and 15 years ago we set out to develop a fast We are well on the way in establishing a new markets with the same successful fashion jewellery concept to meet global brand disciplin
Slide 13: Trading Update
TRADING UPDATE • Trading for the first 7 weeks of the second half of FY25 saw comparable store sales for this period up 3.7%. Total sales for this period are up 12.9% on the same period in FY24. • Since the end of the half, we have opened 16 new stores with 2 closures and 1 relocation, with total st
Slide 14: Summary
SUMMARY • Sales performance solid for the period, with growth primarily from new store rollout with flat comparable store sales to deliver 8.8% growth • 170bp improvement in Gross Margin driven by price and promotion management and strong execution on product and inventory control • Global expansion
Slide 15: Appendices
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Slide 16: Appendix: Disclosing non-IFRS financial information
APPENDIX 1 ASIC Regulatory Guide 230 Disclosing non-IFRS financial information In December 2011 ASIC issued Regulatory Guide 230. To comply with this Guide, Lovisa Holdings Limited is required to make a clear statement about the non-IFRS information included in the Profit announcement and presentati
Slide 17: Appendix – Profit & Loss Statement
APPENDIX 2 – PROFIT & LOSS STATEMENT ($’000) HY25 HY24 Variance Revenue 405,926 373,024 8.8% Cost of sales (71,257) (71,876) -0.9% Gross profit 334,669 301,148 11.1% Employee expenses (115,124) (102,972) 11.8% Property expenses (24,740) (20,343) 21.6% Distribution expenses (11,816) (14,638) -19.3% (
Slide 18: Thank You
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