Giglio.com Spa · MIL:GCOM
Giglio.com Spa — H1 2024 Earnings Presentation
37 slides from Giglio.com Spa's earnings presentation, Sep 26, 2024
Slide 1: H1 2024 Financial Results
H1 2024 FINANCIAL RESULTS 26-09-2024
Slide 2: Our recent years in a nutshell
Our recent years in a nutshell Accelerating GMV growth despite the difficult macro-economic scenario GMV CAGR +40% +216% Revenues vs. 2019 pre-covid +275% Gross Margin vs. 2019 pre-covid +9 pp Share of international sales vs. 2019 pre-covid +460 bps Gross Margin % vs. 2019 pre-covid all figures in m
Slide 3: GIGLIO.COM: a solid business model
GIGLIO.COM: a solid business model A strong business model delivering a strong performance STRONG BUSINESS MODEL STRONG PERFORMANCE An innovative marketplace, a community of over 200 Long-term track record of revenue growth confirmed connected boutiques and brands. Unlike other during and after the
Slide 4: H1 2024's key financials
H1 2024’s key financials Path to profitability untouched despite the difficult macro-economic scenario all figures in mln As a consequence of the luxury e-commerce slow down, revenues vs. H1 +0.6 2023 went down by 17%, but the business showed a moderate growth -4.5 on a 2-year perspective (+3%). REV
Slide 5: H1 2024's milestones
H1 2024’s milestones The main events of the semester Q1 2024 Q2 2024 Beauty Seekers VIP Club: launched a VIP program in order to boost Digital Gateway Giglio.com: launched a B2B business line fully aiming at customers’ loyalty, retention and spending. On top of it, fully launched a supporting the di
Slide 6: H1 2024 in numbers
➢ Revenues contraction: -17% vs. H1 2023 REVENUES ➢ Strong improvement of the Average Order Value (+7%) as higher-end fashion brands take shares PROFITABILITY ➢ Despite the challenging macro-economic scenario, in comparison with H1 2023 EBITDA was in line (-0.3 mln Euro) and the Net Result was impro
Slide 7: Deep dive: economic and financial KPIs
Deep dive: economic and financial KPIs + GMV page 8 ➢ REVENUES AND GROSS PROFIT page 9-10 - Marketing & Communication page 11 - Fixed and variable expenses page 12 ➢ EBITDA MARGIN page 13-14 ➢ NET RESULT page 15-16 ➢ P&L page 17 ➢ Balance sheet page 18
Slide 8: Gross Merchandising Value (GMV) | Strong growth
Gross Merchandising Value (GMV) | Strong growth Supported by a wider Community Store and international expansion GMV YEARLY TREND all figures in mln +55% +7% Despite the adverse market outlook, known as the luxury -16% e-commerce slow down, and the consequent contraction of the GMV vs. H1 2023 (-16%
Slide 9: Revenues and Gross profit | Strong improvement of marginality
Revenues and Gross profit | Strong improvement of marginality Improved marginality despite the difficult macro-economic scenario REVENUES AND GROSS PROFIT MARGIN GROSS PROFIT all figures in mln +7% -16% The marginality of the company keeps improving (28.9% in H1 2024 vs. Keeping the bar on the gross
Slide 10: Revenues | A new business line
Revenues | A new business line Entered the B2B space with a new business line aimed at supporting the digitalization of the industry DIGITAL GATEWAY GIGLIO.COM The new organizational structure targets companies within and outside the fashion world, offering essential services for their digital expan
Slide 11: Marketing & Communication | Outstanding Marketing Fundamentals
Marketing & Communication | Outstanding Marketing Fundamentals A growth supported by controlled and highly efficient marketing investments as focus on nurturing the customer base increases COST EFFECTIVE MARKETING STRATEGY ACTIVE CUSTOMER BASE* As a consequence of a prudent approach MARKETING EXPENS
Slide 12: Fixed and variable expenses
Fixed and variable expenses Optimized variable expenses in H1 while the optimization of the fixed ones will be more impactful starting from H2 2024 VARIABLE EXPENSES FIXED EXPENSES Marketing + transport, handling, packaging + duties + payment fees HR, G&A and others +100 bsp -140 bsp Strongly improv
Slide 13: EBITDA Margin | Strong long-term improvement in profitability
EBITDA MARGIN | Strong long-term improvement in profitability Strongly improved EBITDA confirms a positive path to profitability EBITDA MARGIN: 2024 vs. 2023 The EBITDA margin landed on a similar result vs. 2023 (-30 bsp) thanks to a prompt management of the expenses, which will be amplified during
Slide 14: EBITDA Margin | Strong long-term improvement in profitability
EBITDA MARGIN | Strong long-term improvement in profitability Strongly improved EBITDA confirms a positive path to profitability EBITDA MARGIN Despite the challenging macroeconomic scenario, the company has maintained its recent upward trajectory, bringing it closer to the break-even. In absolute va
Slide 15: Net Result | Strong long-term improvement in profitability
Net Result | Strong long-term improvement in profitability Strongly improved Net Result confirms a positive path to profitability NET RESULT Despite the challenging macroeconomic scenario, the company has maintained its recent upward trajectory, bringing it closer to the break-even.
Slide 16: Net Result | Road to profitability
Net Result | Road to profitability Combining ambitions to growth with a gradual return to profitability 2024 2025 2026 Increase international share of sales to improve marginality Keep developing the e-concession model with the brands in order to reduce intermediations Build a strong commercial team
Slide 17: Profit & Loss
Profit & Loss Revenues and cost structure vs. 2023 vs. LY H1 2024 on total revenue H1 2023 on total revenue (all numbers in k) on total revenue Revenue € 22,615 € 27,130 Cost of revenue -€ 16,087 -71.1% -€ 19,322 -71.2% 0.1 Gross Profit € 6,528 28.9% € 7,807 28.8% 0.1 Marketing expenses -€ 947 -4.2%
Slide 18: Balance sheet
Balance sheet Balance sheet vs. end of 2023 (all numbers in k) 30/06/2024 31/12/2023 Delta Intangible fixed assets € 6,324 € 6,556 -€ 232 Tangible fixed assets € 1,290 € 1,377 -€ 87 Financial fixed assets € 250 €0 € 250 Total fixed assets € 7,864 € 7,933 -€ 69 Inventories € 90 € 110 -€ 20 Trade rece
Slide 19: Corporate Presentation
CORPORATE PRESENTATION 26-09-2024
Slide 20: GIGLIO.COM: a solid business model
GIGLIO.COM: a solid business model A strong business model delivering a strong performance STRONG BUSINESS MODEL STRONG PERFORMANCE An innovative marketplace, a community of over 200 Long-term track record of revenue growth confirmed connected boutiques and brands. Unlike other during and after the
Slide 21: Our Story
Our Story Born in 1996 with the first online fashion boutique in Italy: GIGLIO.COM 2016 2017 2021 2022 From 1P to 3P GIGLIO.COM in FT1000 We are 100 GIGLIO.COM in Piazza Exceeded 50 mln € revenue Affari and 125k active customers The company reaches a Since 2017, the Financial The team now counts A l
Slide 22: A solid business model: an innovative marketplace
A solid business model: an innovative marketplace An innovative business proposition connecting over 200 fashion boutiques MONTH 0 MONTH +9 MONTH +15 MONTH +18 Brands WHOLESALE The wholesaler The wholesaler pays The wholesaler sells the The unsold stock is Wholesaler MODEL orders the collection the
Slide 23: A solid business model: an innovative marketplace
A solid business model: an innovative marketplace An innovative business proposition connecting over 200 fashion boutiques RISK-FREE CASH CATALOG SUPPLY CHAIN INTERACTION PLATFORM INVENTORY GENERATIVE CONTROL & FULFILLMENT WITH CUSTOMER Different from the wholesalers Unlike Mytheresa, Luisaviaroma a
Slide 24: A solid business model: unparalleled selection
A solid business model: unparalleled selection Sourcing inventory from more than 200 partners: our Community Store Number of partners BRANDS IN E-CONCESSION MODEL Dozens of brands connected through an e-concession model, integrating their collections into GIGLIO.COM. MULTI-BRAND STORES Over 190 luxu
Slide 25: A solid business model: unparalleled selection
A solid business model: unparalleled selection Offering almost 100,000 products every season NUMBER OF PRODUCT PAGES SHOT IN OUR HUBS Photo shooting almost 100k products per season in our logistic hubs. Recent impressive acceleration: FW23 registered a 21% increase of product pages produced vs. FW22
Slide 26: A solid business model: fully owned and flexible technology
A solid business model: fully owned and flexible technology A fully owned technology as a competitive advantage CUSTOM INTEGRATION EXTERNAL PROVIDERS Google Facebook Atelier98 Eversell Analytics Google Emarsys Affiliation Magic Ads E-fashion Store Hotjar Xmag CORE DATA WAREHOUSE COMMUNITY MERCHANT A
Slide 27: A solid business model: strong branded DNA
A solid business model: strong branded DNA A curated boutique “Proudly Made in Mediterraneo” A melting pot of cultures, peoples and aesthetic values. We are tireless seekers of beauty. We are inspired by the vitality and sense of inclusiveness typical of the Mediterranean, which are part of everythi
Slide 28: A solid business model: strong branded DNA
A solid business model: strong branded DNA A curated boutique “Proudly Made in Mediterraneo” Inclusiveness Sustainability Reliability Our mission is to enhance inclusive We promote system change with greater The satisfaction of our customers is the beauty (ethnic, physical, and gender) ecological in
Slide 29: Management Team
A solid business model: growing managerial structure Structuring a solid and experienced management team FOUNDERS FOUNDERS EMPLOYEES BREAKDOWN Breakdown by age Breakdown by gender GIUSEPPE GIGLIO FEDERICO GIGLIO CO-CEO & CO-FOUNDER CO-CEO & CO-FOUNDER # of employees, as of Aug. 31st 2023 MANAGEMENT
Slide 30: A solid business model: a global presence
A solid business model: a global presence Bringing luxury fashion to a global consumers’ demand Italy 35% Oth. Europe 29% North America 10% APAC 20% From the boutiques... to GIGLIO.COM... RoW 6% GMV 2023 by geo-area Addressing fashion lovers around the world - 150 countries served, - 10 languages av
Slide 31: Strong performance: a long-term track record of growth
Strong performance: a long-term track record of growth Growth of both revenues and marginality at the same time 69,5% 67,4% 66,5% 64,7% +216% 55,4% Revenues vs. 2019 pre-covid +275% Gross Margin vs. 2019 pre-covid +9 pp Revenues Share of international sales vs. 2019 pre-covid 29,1% Gross Margin 27,7
Slide 32: Strong performance: outstanding marketing fundamentals
Strong performance: outstanding marketing fundamentals highly efficient marketing investments as focus on nurturing the customer base increases A strong business model taking the total number of active customers to over CUSTOMER BASE 154k in 2023. +19% A highly efficient marketing plan coming with a
Slide 33: Strong performance: excellent customer satisfaction and return rate
Strong performance: excellent customer satisfaction and return rate Outperforming all the benchmarks on Trustpilot 5 stars 88% 4 stars 6% 3 stars 1% 2 stars 1% 1 stars 4% A <16% return rate due to impeccable customer service that 16% makes our customers satisfied with our service
Slide 34: Strong performance: quick return to profitability
Strong performance: quick return to profitability With a 2023 close to break-even ADJ EBITDA MARGIN A quick and on track return to profitability with a EBITDA margin showing considerable improvements both vs. 2022 (+160 bsp) and vs. 2021 (+310 bsp).
Slide 35: Strong performance: structurally positive financials
Strong performance: structurally positive financials Structurally positive Cash Flow and negative Net Working Capital An asset light business model with negative Net Working Capital (all numbers in k) 12/31/2023 A low CapEx business model as it does not involve tangible investments on production or
Slide 36: Before you leave… Would you like to take a closer look to GIGLIO.COM?
Before you leave… Would you like to take a closer look to GIGLIO.COM? 36
Slide 37: GIGLIO.COM
GIGLIO.COM