Breville Group Limited · ASX:BRG
Breville — Investor Presentation (February 2025)
31 slides from Breville's investor presentation, Feb 11, 2025
Slide 1: Half Year Results – Half Year Ended 31 December 2024
11 February 2025 ASX Market Announcements Office Australian Securities Exchange 20 Bridge Street Sydney NSW 2000 Half Year Results Investor Presentation – Half Year Ended 31 December 2024 Attached is the Breville Group Limited Investor Presentation for the half year ended 31 December 2024. The relea
Slide 2: Year
_ BRGGROOP- = Breville Sage SLeLiT BARATIA beanz iChefSteps
Slide 3: Disclaimer
Disclaimer To the extent this Presentation contains any forward-looking statements, such statements are not guarantees of future performance and involve known and unknown risks and uncertainties and other factors, many of which are beyond the control of Breville, its Directors and management, and in
Slide 4: Acknowledgement of Country
Acknowledgement of Country We would like to acknowledge the traditional custodians on whose land we meet today. We would like to pay respect to their Elders: past and present; and further extend that respect to all Aboriginal and Torres Strait Islanders present here today. We celebrate the continuin
Slide 5: Group Summary Result
Group Summary Result Solid half with double-digit revenue growth AUDm 1H25 1H24 % Growth Commentary Revenue 997.5 905.8 10.1% • Solid 10.1% revenue growth against backdrop of resilient consumer demand Gross Profit 366.3 332.0 10.3% • Overall GM% held steady, growing Gross Profit by Gross margin (%)
Slide 6: Segment Results
Segment Results Solid revenue growth with stable Group Gross Margin Revenue Gross Profit Gross Margin (%) AUDm 1H25 1H24 % Growth 1H25 1H24 % Growth 1H25 1H24 Global Product 877.7 782.8 12.1% 327.9 298.5 9.8% 37.4% 38.1% % Growth CC1 13.0% 10.9% Distribution 119.8 123.0 (2.6)% 38.4 33.5 14.7% 32.1%
Slide 7: Global Product Segment by Theatre
Global Product Segment by Theatre All Theatres in double digit revenue growth in constant currency GLOBAL PRODUCT SEGMENT REVENUE AUDm % Growth 1H25 1H24 % Growth CC* Americas 492.4 450.3 9.4% 10.9% APAC 179.7 155.4 15.7% 16.3% EMEA 205.6 177.2 16.0% 15.4% TOTAL 877.7 782.8 12.1% 13.0% Minor differe
Slide 8: EBIT Growth from 1H24 – 1H25
EBIT Growth from 1H24 – 1H25 $13.8m or 10.5% -4.6 14.5% A$m 14.5% -5.9 -6.3 144.8 34.3 -3.7 131.0 Overall Opex Gross Profit increased $20.5m increased $34.3m or 10.2% or 10.3% Opex growth aligned to gross profit growth delivering 10.5% EBIT growth 1H24 EBIT Gross Profit D&A Employee Cost Adv & Other
Slide 9: Financial Position at 31 December
Financial Position at 31 December AUDm Dec 24 Dec 23 Commentary Inventory 443.4 380.0 • Inventory increase of $63.4m largely driven by tactical pull forward of 2H25 US inventory as a hedge against possible US Receivables 479.1 449.8 tariff increases Trade and other payables (371.4) (333.7) • Aggrega
Slide 10: Key Points 1HFY25
Key Points 1HFY25 • Solid 10.1% sales growth against backdrop of resilient consumer demand • 13.0% Global Product segment sales growth in constant currency • All three Theatres in double-digit sales growth (Global Segment constant currency), led by strong Coffee growth across all Theatres • Gross Ma
Slide 11: Beanz Service Update, Geographic Expansion, New Products, 2H25 Outlook
• Beanz Service Update • Geographic Expansion • New Products • 2H25 Considerations & Outlook 10
Slide 12: How Does It Work?
How Does It Work? Fulfilment Origination Retail Margin Order Order Order Roaster Coffee Shipment Order Process Fee Retail Margin Order Order Order Roaster 3rd Party Coffee Shipment • Service aggregates and curates roasters and coffees • Processes coffee orders, tracks delivery and roaster SLA perfor
Slide 13: Beanz Snapshot
Beanz Snapshot We have shipped We have served over 1,300,000 bags over 145,000 of coffee customers We have partnered 1H25 / 1H24 with over 100 of the Unit growth rate (kg) world’s best roasters 71% across 4 countries Amount spent marketing the Beanz Service = $0 12
Slide 14: Beanz Fundamental Solution Component
Beanz Fundamental Solution Component Capable Equipment Café Quality at Home Fresh, Specialty Training Coffee • Put bad, stale coffee (grocery store) in a capable machine, you get a bad outcome • Beanz is a fundamental solution component that enables our customers to make café quality coffee at home
Slide 15: Beanz First “Global” Coffee Service
Beanz First “Global” Coffee Service • While individual countries have coffee marketplaces, Beanz is the first “global” service, executed locally • As with other BRG infrastructure, Beanz is a single platform, running in multiple countries • Beanz is currently live in the US, the UK, Germany, and Aus
Slide 16: Beanz Underpins “Telco Business Model”
Beanz Underpins “Telco Business Model” Australia United States United Kingdom Germany Much like carriers bundle mobile service with a new phone, BRG now bundles speciality coffee with any new espresso machine across retail. This results in a differentiated offer, enabling customers to make café qual
Slide 17: Powered By Beanz
Powered By Beanz Beanz as an ecosystem platform Beanz, as an order processing platform, is unlocking the channel for specialty coffee roasters across the customer-facing landscape. 16
Slide 18: So, what is Beanz?
So, what is Beanz? • An efficient, curated path for BRG customers to get fresh, specialty coffee • The first, global coffee service • An enabler for a new business model in coffee—an “always on” program bundling machines and coffee • A platform for enabling retailers and other product companies to b
Slide 19: Beanz Service Update, Geographic Expansion, New Products, 2H25 Outlook
• Beanz Service Update • Geographic Expansion • New Products • 2H25 Considerations & Outlook 18
Slide 20: Breville|Sage & Lelit Direct In Middle East
Breville|Sage & Lelit Direct In Middle East1 • Went direct January 1, 2025 • Headquarters in Dubai • Breville|Sage and Lelit direct across entire region, except for Israel (distributor) • Baratza operating through a distributor model • Economy Size (USD) − GDP: $2.1 Tn2 − Population: 58.2 Mn3 − Disp
Slide 21: Breville|Sage 2H25 Direct in China
Breville|Sage 2H25 Direct in China • Breville|Sage will be direct in China in 2H25 • Headquartered in Shanghai, with offices in Shenzhen, and Hong Kong • Baratza and Lelit operating through a distributor model • Economy Size (USD) − GDP: $18.3 Tn1 − Population: 1.4 Bn2 − Disposable Income : U$11.4 T
Slide 22: FY26+ Direct Market Opportunity
FY26+ Direct Market Opportunity FY24 Direct Mkts1 Middle East2 China3 FY26+ %∆ GDP: $53.5 Tn $2.1 Tn $18.3 Tn $73.9 Tn 38% Population: 1.03 Bn 58.2 Mn 1.4 Bn 2.5 Bn 142% Disposable Income: $35.7 Tn $1.1 Tn $11.4 Tn $48.2 Tn 35% Building on the analysis discussed in the FY24 Macquarie Conference, ent
Slide 23: Beanz Service Update, Geographic Expansion, New Products, 2H25 Outlook
• Beanz Service Update • Geographic Expansion • New Products • 2H25 Considerations & Outlook 22
Slide 24: The new standard in performance, automation & speed.
The new standard in performance, automation & speed.
Slide 25: Premium Espresso Accessories
Premium Espresso Accessories 24
Slide 26: New Metallics Range
New Metallics Range WILLIAMS SONOMA BRGGROUP | Breville Sage SLeELIT BARATZA’ beanz i ChefSteps
Slide 27: Beanz Service Update, Geographic Expansion, New Products, 2H25 Outlook
• Beanz Service Update • Geographic Expansion • New Products • 2H25 Considerations & Outlook 26
Slide 28: 2H25 Considerations
2H25 Considerations • Markets stabilising (consumers and retailers) • Retailers enter 2H25 in a good inventory position (sell-in / sell-out tracking in 1H25) • Coffee continuing to lead, ovens performing well, and other subcategories finding their footing • NPD delivering as expected with new launch
Slide 29: US/China Tariff Update
US/China Tariff Update • Colombia, the EU, China, Mexico and Canada have been in the tariff conversation. What is lined up to be implemented (unless suspended) is that products imported from China into the US that were manufactured after Feb 1st, or that don’t arrive before March 7th, will incur an
Slide 30: FY25 Outlook
FY25 Outlook We expect FY25 EBIT growth to be in the range of 5% - 10% assuming: • No significant change in economic conditions in the Group’s major trading markets; • No material supply chain interruptions; and, • Taking into account our expected 2H25 investment levels into marketing, R&D and techn
Slide 31: Year
_ BRGGROOP- = Breville Sage SLeLiT BARATIA beanz iChefSteps
Breville Group — Investor Presentation (February 2025) on 6ix