Currys Plc · LSE:CURY
Currys — Investor Presentation (September 2023)
95 slides from Currys's investor presentation, Sep 19, 2023
Slide 1: Supply Chain and Service Operations
Supply Chain and Service Operations Newark 19 September 2023
Slide 2: Summary: More and better for less
Introduction Summary More and better for less Supply chain has significant scale, Repairs & returns unique capability and agility and proven capability powered by colleague itself resilient through Covid entrepreneurs Customers: Delivering choice, Colleagues: Empowered, value and improving end-to-en
Slide 3: Sources: Currys Internal information
Sources: Currys Internal information 9
Slide 4: Technology plays an important role in our lives
Introduction Technology plays an important role in our lives Connected, productive, fit, clean, healthy & entertained Smart TV Smart hub speaker Hairdryer SSTV Tablet Laptop Monitor Printer CCTV camera Gaming chair Headphones Electric toothbrush Mobile phone Smart scale Smart thermostat Video doorbe
Slide 5: Supply chain and service operations are central to delivering our strategic priorities
Introduction Supply chain and service operations are central to delivering our strategic priorities Capable and Easy to shop Customers for life Grow Profits committed colleagues • 1000s of highly skilled • National footprint & • Help get customers • Offsetting significant colleagues reach started co
Slide 6: Customers for life are built through our range of services
Introduction Customers for life are built through our range of services We help you We help you get We help get We help give your afford amazing the most out of you started tech longer life tech Protection | Repair | Refurbish your tech Delivery | Installation | Set up Connectivity | Help & support
Slide 7: Services provide high margin, recurring revenue
Introduction Services provide high margin, recurring revenue Helping get customers started and helping them enjoy tech for life are some of our biggest revenue streams We help you We help you get We help get We help give your afford amazing the most out of you started tech longer life tech Protectio
Slide 8: Our Services are designed to help customers at every stage
Introduction Our Services are designed to help customers at every stage Greater breadth, depth and range of delivery, installation & protection than any other retailer Expert advice Product demonstrations Delivery Same day collection Installation: Domestic appliance Installation: TV / Computer set u
Slide 9: We help get you started
Introduction We help get you started Our supply chain is large, reliable and flexible – but we don’t just deliver products Serving an omnichannel Nationwide logistics network To help get customers started customer journey Key National Distribution Centre Store benefits Online benefits >3m Regional D
Slide 10: We help give your tech a longer life
Introduction We help give your tech a longer life Our unique repair infrastructure allows us to provide a great breadth of services that customers value Delivering services that customers truly value Unique repair UK&I Total active Care & Repair plans UK&I Care & Repair adoption rate capability 8.9m
Slide 11: Supply Chain & Services operations have seen significant improvement
Introduction Supply Chain & Services operations have seen significant improvement To deliver better outcomes for colleagues, customers and shareholders Colleagues Customers Shareholders Home delivery and logistics Customer satisfaction for delivery 2021/22 2022/23 Total 68 colleague engagement score
Slide 12: Summary: More and better for less
Introduction Summary More and better for less Supply chain has significant scale, Repairs & returns unique capability and agility and proven capability powered by colleague itself resilient through Covid entrepreneurs Customers: Delivering choice, Colleagues: Empowered, value and improving end-to-en
Slide 13: Supply chain
Supply chain Sources: Currys Internal information 19
Slide 14: Newark is the centre of our UK supply chain
Supply chain Newark is the centre of our UK supply chain Central stock-holding, branch fulfilment, home fulfilment & repair operations 1,500,000 sq ft 2,400 colleagues Newark is at the centre of our UK&I supply chain Supply chain Repair centre Sources: Currys Internal information 20
Slide 15: Newark is the central hub in our supply chain
Supply chain Newark is the central hub in our supply chain The site serves a number of complementary roles Reverse logistics Building 2 Big box & store Medium replenish- Small box Recycling box Building 1 Home delivery ment Medium & waste box depot Home fulfilment Small box Home Store Big box fulfil
Slide 16: Newark receives significant volumes of stock
Supply chain Newark receives significant volumes of stock Covering a vast range of products from a large number of suppliers Inbound logistics: Examples of stock received each year: 276 different suppliers 36,000 Deliveries each year Almost 26m 1.1m 840k 530k Large screen Washing Games units1 each y
Slide 17: Newark distributes stock all over the UK&I
Supply chain Newark distributes stock all over the UK&I Product goes directly to customers and to stores 2.4m units in stock Medium & big box Small products Store replenishment 3.3m during Peak 715,000 units in 1.7m units 291,000 stock 925,000 during peak in stock 2.5m during peak units delivered to
Slide 18: Newark is supported by regional distribution centres
Supply chain Newark is supported by regional distribution centres… Quick distribution of key big box products for store replenishment and customer orders Regional distribution centres: Support our home delivery depots • Bolton: 376k sq ft • Holds big box items for delivery • Tilbury: 317k sq ft • Ho
Slide 19: …and 18 home delivery depots that are closer to customers
Supply chain …and 18 home delivery depots that are closer to customers Store replenishment, delivery & collections for customers, repair operations, installations and waste recycling 18 Home delivery depots Delivering to our customers supported by 5 out-bases and supporting our stores across the UK&
Slide 20: And we have a network of stores that are very close to customers
Supply chain And we have a network of stores that are very close to customers Store stock, order & collect, returns and recycling in close proximity 301 stores 5.5m sq ft 10,000 UK online 22% across UK&I colleagues sales Collected 3.8m units 17.6m units in store of stock held delivered to Delivered
Slide 21: Our supply chain has industry leading scale
Supply chain Our Supply chain has industry leading scale Even excluding stores, we are >2.5x larger than UK competitors Total number of Warehouse capacity, UK&I revenue, £m distribution facilities 000’s sq ft 2,663 5,067 325 740 1,139 24 22 245 2 98 Currys Currys AO Marks Currys AO Marks Electrical
Slide 22: Supply chain has flexibility to increase capacity when we need it
Supply chain Supply chain has flexibility to increase capacity when we need it Agile approach allows us to move quickly in response to changing customer needs and consumer trends Inbound deliveries Outbound units Colleagues +43% +50% +50% Non Peak Peak Non Peak Peak Non Peak Peak Source: Currys inte
Slide 23: Flexibility and resilience was proven during Covid
Supply chain Flexibility and resilience was proven during Covid As stores were shut and tech market increased, we were able to react Number of units shipped to • Stores closed and business moved 100% online customer in a typical week with elevated volumes • Increased capacity by +60-70% to maintain
Slide 24: Currys offers great choice and flexibility to customers
Supply chain Currys offers great choice and flexibility to customers Our delivery and installation offer is more comprehensive than any competitor Deliver to home Deliver to set location Same day collection Delivery to store Expert advice In store returns / exchanges Installation Recycling – collect
Slide 25: We offer great choice of small box delivery
Supply chain We offer great choice of small box delivery Catering for all customer demands Premium delivery Standard delivery Collections Despatched same-day Orders placed before 9pm Despatched within 1-3 days from the warehouse if are despatched the next by the warehouse. 45% ordered by 9pm. 25% 30
Slide 26: It is in big box delivery & installation that we excel
Supply chain It is in big box delivery & installation that we excel Offer a wide range of services across all product categories Products Services Delivery to room of choice Gas and electric Washing Dishwashers Installations cooking machines and (washing machines through tumble dryers to gas install
Slide 27: We help customers get started
Supply chain We help customers get started We install a wider range of products than any of our peers Installation services Electric cooker Gas cooker Washing machines Dishwashers Built in appliances Refrigerator plug-in Refrigerator door swap TV install to stand / TV wall mount / TV premium wall mo
Slide 28: Improvements made including using GXO to operate warehouses
Supply chain Improvements made including using GXO to operate warehouses GXO operate our main supply chain centres and transport, but we control customer facing elements • Big & medium box store fulfilment Customer returns and faulty exchanges • WEEE and Recycle collection Harworth DC Newark NDC Del
Slide 29: GXO partnership brings many benefits
Supply chain GXO partnership brings many benefits Reduces costs, increases flexibility and lower risks Key initiatives delivered: What’s next: Implemented continuous Reviewed space Automated packing system Automated packing and improvement program utilisation and layout to for small box orders label
Slide 30: Improving productivity through automation
Supply chain Improving productivity through automation Adding automation is driving significant productivity gains, with further opportunities to improve RDC outbound conveyor Exoskelton Garwonski loading conveyor In cab technology Small product - Auto-bagger Go-live: October 2023 Automates the pack
Slide 31: We have made improvements for colleagues
Supply chain We have made improvements for colleagues Delivering a great customer experience requires a great colleague experience We have taken action… …and our colleagues are happier Home delivery and logistics 82 colleague engagement scores Improved onboarding Launched in-house training experienc
Slide 32: …and improvements for our customers
Supply chain …and improvements for our customers We have improved on our execution and are getting it Right First Time more often Focus on key areas of failure Repeat visit rate Customer availability Product damage Incorrect product Previous 12 Last 12 Target Technical failures months months Sources
Slide 33: Resulting in happier customers
Supply chain Resulting in happier customers Our D&I customers are becoming happier as we make improvements Customer satisfaction has grown over the … and has continued to grow year to date past 5 years… Customer satisfaction for delivery 68 Delivery only With installation 64 64 57 49 +4pts YoY +4pts
Slide 34: Profitability is improving as a result of the improvements
Supply chain Profitability is improving as a result of the improvements Better proposition and execution drive increased direct and indirect profits Direct cost savings Lower customer Increased adoption Enables delivery Right First Time reduces acquisition costs charging repeat visits and costs Redu
Slide 35: Summary
Supply chain Summary Supply chain is the backbone of our operations Complex supply chain that caters Providing delivery & installation for our omnichannel proposition services that customers value Fully invested for nationwide Making continuous improvements to coverage at significant scale benefit c
Slide 36: Services
Services Sources: Currys Internal information 43
Slide 37: Customers for life are built through our range of services
Services Customers for life are built through our range of services We help you We help you get We help get We help give your afford amazing the most out of you started tech longer life tech Protection | Repair | Refurbish your tech Delivery | Installation | Set up Connectivity | Help & support Cred
Slide 38: We use customer insight to develop and deliver services that customers need
Services We use customer insight to develop and deliver services that customers need Customers want simplicity, flexibility and transparency Give me peace of mind Straight forward pricing that is No hassle when I need to use Currys protect my tech with appropriate easy to understand this service cov
Slide 39: Customers value the services that we provide
Services Customers value the services that we provide Customers who use services are happier and return to Currys more often Credit customers and non-credit customers Care & Repair customers and non Care & Repair – 2022/23 NPS customers – 2022/23 NPS +20% +18% Non-credit Credit Product only With Car
Slide 40: Our protection services are a complete solution
Services Our protection services are a complete solution We have evolved the offer to make it ever more customer centric Historically Now Warranty service + Separate Insurance service Warranty with additional services Customer centric Sources: Currys Internal information 47
Slide 41: Care & Repair upgraded and complemented by new insurance products
Services Care & Repair upgraded and complemented by new insurance products We offer protection services that customers want Why Care & Repair? Why tablet insurance? Breakdown support when (Launched Sep 2022) you need it. A simple and easy Beyond repair? Get a Currys claims process. gift card for a n
Slide 42: Our Care & Repair service is comprehensive and competitive
Services Our Care & Repair service is comprehensive and competitive Customers are not paying for solutions they don’t use Care & Repair - MDA Manages own plan - - Managed by Currys D&G UK warranty ltd D&G D&G - Full breakdown support - Accidental damage - What happens - Includes valet service - - Pa
Slide 43: Our Care & Repair service is comprehensive and competitive
Services Our Care & Repair service is comprehensive and competitive Customers are not paying for solutions they don’t use Care & Repair - LSTV Manages own plan Managed by Currys D&G UK warranty ltd D&G D&G Cover Genius Ltd Full breakdown support Accidental damage What happens 24/7 technical support
Slide 44: Our Care & Repair service is comprehensive and competitive
Services Our Care & Repair service is comprehensive and competitive Customers are not paying for solutions they don’t use Care & Repair - Laptop Manages own plan Managed by Currys D&G - D&G D&G Cover Genius Ltd Full breakdown support - Covers accidental damage - What happens 24/7 technical support -
Slide 45: Our tablet insurance is based around customer needs
Services Our tablet insurance is based around customer needs Customers are very clear that they want next day replacement Tablet insurance Manages plan Aviva D&G - D&G D&G Cover Genius Ltd Full breakdown support - Accidental damage - Theft / loss cover - Theft Only Worldwide cover - 24/7 technical s
Slide 46: We make repair convenient for the customer
Services We make repair convenient for the customer We repair products centrally in Newark, in customer’s homes, in stores and remotely using RepairLive Newark In store Repair live In home Sources: Currys Internal information 53
Slide 47: More customers are using these services
Services More customers are using these services Improvements to proposition are attracting more customers Care & Repair numbers are growing… … with record levels of adoption UK&I Total active Care & Repair plans UK&I Care & Repair adoption rate 9.8m 9.8m 9.5m 8.9m 8.8m 8.5m 17/18 18/19 19/20 20/21
Slide 48: We also offer standalone repairs
Services We also offer standalone repairs For customers who need repair but don’t have protection Why repair with Currys? What makes us different? All repairs are guaranteed Available 7 days a week for It doesn’t matter where you bought If we can’t fix it, or it's beyond for 12 months. computers/TVs
Slide 49: Repairs on large kitchen appliances…
Services Repairs on large kitchen appliances… Mainly conducted in customer’s homes and not offered by our main competitors Repairs completed by Currys D&G Washing machine £119 £150 Tumble dryer £109 £150 Dishwasher £119 £150 1 door Fridge or freezer £109 £150 2 door fridge freezer £119 £150 American
Slide 50: … and on TV's and computers
Services … and on TV’s and computers Hardware fixes are done in Newark, with software fixes in stores Tech treatments 1 service TVs Computing Virus removal £45 Data transfer Laptop, MacBook or Desktop from £95 from £60 Parental control set-up 2 services includes transport and inspection. includes tr
Slide 51: Opportunity to do more in repairs
Services Opportunity to do more in repairs Growing customer demand in area where we have capability Attractive market Currys well positioned What we will do next A £400m market that is likely • Uses existing capacity and expertise • Colleague awareness to grow including Europe’s largest repair centr
Slide 52: Our Repair services are good for customers and good for us
Services Our Repair services are good for customers and good for us We can provide valued services reliably and sustainably because we own the operations Tailored propositions Repair services are valued by customers profitable Competitive prices Leverage Currys ecosystem Help to make sustainable cho
Slide 53: Service operations: Returns and repairs
Service operations Returns and repairs Sources: Currys Internal information 60
Slide 54: We have built Europe's largest tech repair centre in Newark
Service operations We have built Europe’s largest tech repair centre in Newark Significant operation filled with expert colleagues 500,000 sq ft of space Reverse logistics Building 2 Big box & store replenish- Recycling 1,000 expert colleagues Building 1 Home delivery ment Medium box & waste depot H
Slide 55: Currys is differentiated because no other retailer carries out its own repairs
Service operations Currys is differentiated because no other retailer carries out its own repairs We repair all product categories and work closely with our major suppliers Major Categories Major Vendor Brands Sources: Currys Internal information And 40 more… 62
Slide 56: The breadth and scale of our repair operations is also unique
Service Operations The breadth and scale of our repair operations is also unique Only two other types of repair organisations in market…. Repair portable Logisticians Distributors Insurers Pure players products centrally UTL, GXO Exertis, Ingram Assurant, Likewise SBE, CTDI Logistics Support refurb
Slide 57: Capabilities built over 30 years
Service operations Capabilities built over 30 years We have built capabilities over key areas that are difficult to replicate Colleagues Scale Technology Culture investment • Highly skilled engineers & • Scale and efficiencies • Spare parts solutions • Continuous improvement technicians with long te
Slide 58: Repair strategy is simple
Service operations Repair strategy is simple We aim to understand the problem, fix it fast and optimise margin Diagnostics Repair Exit management Understand the problem Repair fast and at Optimise margin through systematic and assess options optimized cost decision tools and transformation Keep prod
Slide 59: The repair centre deals with all returns as well as repairs
Service operations The repair centre deals with all returns as well as repairs Products get returned for many reasons over their life cycle Customer returns Under Warranty Repairs First 30 days after sale Up to 12 months after sale 1.9m 0.1m • Faulty items • Items repaired under items • Change of mi
Slide 60: Our repairs & returns strategy has evolved significantly over the last three years
Service operations Our repairs & returns strategy has evolved significantly over the last three years Previously there was limited activity before products landed in Newark Customer units …processed in the …then exited Low supplier refunds due operations Only tested to stock quality once in Newark R
Slide 61: Our repairs & returns strategy has evolved significantly over the last three years
Service operations Our repairs & returns strategy has evolved significantly over the last three years Now a much more rigorous data led approach to diagnosis and exit management Customer Diagnosed …processed in …checked …then exited units first… the operations for possible at optimum 22% of products
Slide 62: Diagnostics helps the customers to keep their tech
Exit Diagnostics Repair management Service operations Diagnostics helps the customers to keep their tech We have designed and built a unique diagnostic solution using our repair experience and colleagues’ expertise Across channels Newark Stores Online Self Serve Across categories Coming in 2024… Rep
Slide 63: Repair operations focuses on quality, productivity and minimising costs
Exit Diagnostics Repair management Service operations Repair operations focuses on quality, productivity and minimising costs Developing processes and innovating to deliver better outcomes Process improvement Introduced Parts harvesting Stimulate innovation • Streamline processes to drive productivi
Slide 64: Arbitrage tool used to route products to the highest margin channel
Exit Diagnostics Repair management Service operations Arbitrage tool used to route products to the highest margin channel Aided by developing our circular economy options and exit channels Faulty stock Exit channel 40% Sent to Suppliers Customer returns for full refund Resell – trader auction Re use
Slide 65: Exit management leverage capabilities to drive additional value
Exit Diagnostics Repair management Service operations Exit management leverage capabilities to drive additional value Our repair capabilities allow us to drive value out of products that don’t belong to customers Before Now Fridge returned but Initial value Repair Value manufacturer not liable £80 F
Slide 66: Changes to operations are driving better results
Service operations Changes to operations are driving better results Customers are benefitting from the changes we have made, and it is making us more profitable Returns Repairs Better diagnostic Higher proportion Reduce damage Getting the Repair Right Products fixed with customer means more of retur
Slide 67: Our Repair services are good for customers and good for us
Service operations Our Repair services are good for customers and good for us We can provide valued services reliably and sustainably because we own the operations Tailored propositions Repair services are valued by customers profitable Competitive prices Leverage Currys ecosystem Help to make susta
Slide 68: Sustainability in operations
Sustainability in operations Sources: Currys Internal information 75
Slide 69: Our priorities
Sustainability Our priorities We will help eradicate digital poverty We will improve our use We will achieve net zero of resources and create emissions by 2040 circular business models Sources: Currys Internal information 76
Slide 70: We're proud of our sustainability credentials
Sustainability We're proud of our sustainability credentials We rose to 8th place in the Financial Times (‘FT’) annual ‘Climate Leaders Rankings 2023’ Repeated inclusion1 A- rating Climate Scored in the top decile Change questionnaire2 in ISS ESG Environment3 BBB rating4 – improved from Rated ‘Low r
Slide 71: We are committed to Net Zero by 2040
Sustainability We are committed to Net Zero by 2040 We have stretching 2030 and 2040 targets Reduce 50% Scope 1 and 2 emissions Absolute reduction for our Scope 1 and 2 market- + based GHG emissions Near-term target by 2029/30 Reduce 50% Scope 3 emissions Absolute reduction for our Scope 3 GHG emiss
Slide 72: Significant progress towards our targets
Sustainability Significant progress towards our targets >40% reduction in GHG emissions against a 2019/20 baseline Emissions by year (scope 1 & 2 tonnes CO2e)1 Emissions by year (scope 3 tonnes CO2e)2 185,368 (89)% 34,725,983 2029/30 (43)% Target 23,900,624 22,807,555 19,646,037 2029/30 (43)% Net Ze
Slide 73: How we are reducing GHG emissions
Sustainability How we are reducing GHG emissions Our initiatives and progress for Scope 1 & 2 Reducing energy consumption • Rollout of LED lighting and trialling lower lighting levels 85% >3m kWh 89% of portfolio uses of electricity of sites have • Optimisation of HVAC system LED lighting saved ‘AMR
Slide 74: Electronic waste is the world's fastest growing waste stream
Sustainability Electronic waste is the world’s fastest growing waste stream Reusing technology reduces the need to mine for new sources of materials Global e-waste expected to grow to nearly 75m tonnes by 20301 UK is one of the world’s largest producers of e-waste (23.9kg per person) 1 96 elements c
Slide 75: Our supply chain and services are central to our move to a more circular business model
Sustainability Our supply chain and services are central to our move to a more circular business model Through giving tech longer life and retaining full value for as long as possible Keep products complete and closer to 800,000 repairs for customers1 customer maximises value to ecosystem >4,700 pre
Slide 76: We are #1 WEEE retail recycler in UK
Sustainability We are #1 WEEE retail recycler in UK We raise awareness and offer convenient options for customers to recycle their e-waste Encourage recycling of e-waste 44% of retail WEEE is handled by Currys1 Free e-waste drop off Trade-in in our stores promotions 59,000 tonnes e-waste collected f
Slide 77: We are working hard to reduce and recycle packaging
Sustainability We are working hard to reduce and recycle packaging E-waste is not the only thing we focus on Reducing packaging Removed 3.6m items of plastic packaging (>120 Tns) from own label and licensed brand products All own label and Encourage suppliers Redesigned the > 99% of own label and li
Slide 78: Tech has become essential for everyone
Sustainability Tech has become essential for everyone But many in the UK are still living in Digital Poverty 83% of people consider using digital devices 26% of young people do not important to accessing essential services1 have access to a laptop or similar device2 35% of young people in the UK can
Slide 79: We're helping eradicate digital poverty
Sustainability We're helping eradicate digital poverty We support causes that help those who might otherwise be excluded Tech4Families Founded Digital Poverty Alliance1 in 2021 “The laptop has had a huge impact not only on me, but my whole family. Before I got this laptop it was very challenging to
Slide 80: Appliance poverty can have a negative impact on people's lives
Sustainability Appliance poverty can have a negative impact on people’s lives Through our partners, we get appliances to those who need it most We support low-income >1.2m 1 households people are living without a freezer in the UK >50,0003 Appliances such as freezers, can help household Appliances t
Slide 81: Summary
Sustainability Summary Our three priorities are: Our supply chain and services are • Net Zero by 2040 • Create circular business models the cornerstone of our move to • Help eradicate digital poverty more circular business model We give tech a longer life through 8th place in the FT annual ‘Climate
Slide 82: Finance update
Finance update Sources: Currys Internal information 93
Slide 83: Customers for life are built through our range of services
Finance update Customers for life are built through our range of services We help you We help you get We help get We help give your afford amazing the most out of you started tech longer life tech Protection | Repair | Refurbish your tech Delivery | Installation | Set up Connectivity | Help & suppor
Slide 84: Services are a significant revenue stream in their own right
Finance update Services are a significant revenue stream in their own right We help you We help you get We help get We help give your afford amazing the most out of you started tech longer life tech Protection | Repair | Refurbish your tech Delivery | Installation | Set up Connectivity | Help & supp
Slide 85: Credit is valuable and growing
Finance update Credit is valuable and growing Credit customers have a lifetime value +65% greater than non-credit customers Credit is an important driver of lifetime value Which is growing adoption across both channels Credit customers +20% 19.7% are happier 15.9% +980 bps 13.8% Non-credit Credit 12
Slide 86: Credit is growing and becoming material part of sales
Finance update Credit is growing and becoming material part of sales Our credit business has grown >60% in three years and is generating direct profit contribution More credit customers More credit sales Credit profits impacted by interest rates New Repeat 1.9m +61% +65% 19/20 21/22 22/23 19/20 21/2
Slide 87: We have plans to grow credit further
Finance update We have plans to grow credit further Driven by developments across the proposition From To Offer • Generic credit – single price, credit line & • Personalised credit – tailored for customer promotion We provide a great credit product Attract • Credit present in some channels • Credit
Slide 88: Increased profitability through delivery & installation
Finance update Increased profitability through delivery & installation Better proposition and execution drive increased direct and indirect profits Direct cost savings Lower customer Increased adoption Enables delivery Right First Time reduces acquisition costs charging repeat visits and costs Reduc
Slide 89: Care & Repair is back in growth after a period of decline
Finance update Care & Repair is back in growth after a period of decline Care & Repair represents a large source of recurring, higher margin revenue Care & Repair numbers are growing… … with record levels of adoption UK&I Total active Care & Repair plans UK&I Care & Repair adoption rate 9.8m 9.8m 9.
Slide 90: iD Mobile growth is accelerating and valuable
Finance update iD Mobile growth is accelerating and valuable However, does create drag to near term profits and cashflow iD – our award winning MVNO Active subscribers Rounded proposition <15% churn rate 1.31m • Customer principles: Value, Flexibility and Control +13% • Data rollover, inclusive roam
Slide 91: Services are good for sustainable cashflows
Finance update Services are good for sustainable cashflows Services are usually higher margin, recurring or both Higher margin? Recurring? Credit Delivery Set-up and installation Care & Repair Other protection Connectivity Sources: Currys Internal information 102
Slide 92: We have grown Services so far this year
Finance update We have grown Services so far this year We help you We help you get We help get We help give your afford amazing the most out of you started tech longer life tech Protection | Repair | Refurbish your tech Delivery | Installation | Set up Connectivity | Help & support Credit Trade in |
Slide 93: Summary
Finance update Summary Credit, Care & Repair and ID Mobile Services are a material part of are our big three sources of UK&I revenues recurring, predictable revenue Revenue from services is higher Now growing many aspects of margin and recurring our Services Significant opportunity to improve furthe
Slide 94: Summary: More and better for less
Finance update Summary More and better for less Supply chain has significant scale, Repairs & returns unique capability and agility and proven capability powered by colleague itself resilient through Covid entrepreneurs Customers: Delivering choice, Colleagues: Empowered, value and improving end-to-
Slide 95: Sources: Currys Internal information
Sources: Currys Internal information 106