Cettire Ltd. · ASX:CTT
Cettire — H1 FY21 Earnings Presentation
26 slides from Cettire's earnings presentation, Feb 26, 2021
Slide 1: H1 FY21 Investor Presentation
H1 FY21 INVESTOR PRESENTATION 26 FEBRUARY 2021
Slide 2: Delivering On Strategy
D E L I V E R I N G O N S T R AT E G Y PRIVATE & CONFIDENTIAL
Slide 3: Business Highlights – H1 FY21
BUSINESS HIGHLIGHTS – H1 FY21 • Record half year, business is performing very strongly across all key growth Gross revenue 1 ($ millions) metrics +476% • Gross revenue1 $52.7m and Sales revenue $40.5m, +476% and +479% respectively vs pcp 52.7 vs pcp • Strong margin profile – 38% Product Margin, 11%
Slide 4: Financial Highlights – H1 FY21
FINANCIAL HIGHLIGHTS – H1 FY21 E XCE P T ION A L M OM E N T UM $52.7m $40.5m ~68k Gross revenue 1 Sales revenue Active Customers 3 +476% YoY +479% YoY +319% YoY $15.4m $4.4m ~5.8m Product Margin Adj. EBITDA 2 Unique site visits 38% Margin 11% Margin +300% YoY $2.3m 34% 1.15% Statutory NPAT Gross rev
Slide 5: Unique Value Proposition
UN IQUE VALUE P ROP OSIT ION PRIVATE & CONFIDENTIAL
Slide 6: Cettire Overview
CETTIRE OVERVIEW CE T T IRE IS A GLOBA L ON L IN E LUX URY RE TA IL E R Selection Customers Economics ~68,000 Active 160,000+ products1 38% Product Margin2 Customers2 8.2m unique website 1,300+ brands1 $776 Average Order Value2 visits3 34% of Gross revenue >90% international $500m+ stock value1 from
Slide 7: Massive + Growing TAM, Structural Tailwinds
MASSIVE + GROWING TAM, STRUCTURAL TAILWINDS T HE P E RS ON A L LUX URY GOOD S M A RK E T IS A A $ 4 6 0 B GLOBA L IN D UST RY Massive + Growing TAM Online Penetration Millennial and Gen Z China Growth Global Personal Luxury Goods % Online Penetration Millennial and Gen Z as a % of Share of sales Mar
Slide 8: Cettire Value Proposition
CETTIRE VALUE PROPOSITION CE T T IRE OF F E RS ON E OF T HE L A RGEST S E L ECT ION S OF LUX URY ON L IN E . WE OF F E R COM P E T IT IV E P RICIN G A N D RA P ID F UL F IL M E N T, E N A BL E D BY OUR HIGHLY S CA L A BL E P ROP RIE TA RY T ECHN OLOGY RANGE VALUE RAPID FULFILMENT PROPRIETARY TECHNOL
Slide 9: Highly Scalable Proprietary Platform
HIGHLY SCALABLE PROPRIETARY PLATFORM CET T IRE HAS A HIGHLY SCALABLE , P ROP RIE TARY T ECHN OLOGY STACK WHIC H REQUIRES M IN IM AL DAY - TO- DAY LABOUR IN T E RV E N T ION Customer order fulfilment and • Facilitates the entire customer fulfilment cycle, including automation of order management and
Slide 10: Growth Initiatives
GROWTH INITIATIVES WE ARE EXECUT IN G ON OUR LON G - T E RM GROWT H ST RAT EGY GROWTH LEVER GROWTH INITIATIVES PROGRESS SINCE IPO Scale data driven marketing investment to January unique traffic +378% YoY [] accelerate customer acquisition [] Significantly increase products available online Addition
Slide 11: Exceptional Growth Across All Key Metrics
EXCEPTIONAL GROWTH ACROSS ALL KEY METRICS
Slide 12: Site Traffic And Conversion
SITE TRAFFIC AND CONVERSION K E Y OP E RAT IN G M E T RICS A RE T RE N D IN G V E RY FAVOURA BLY Website traffic growth accelerating Conversion rate 1 Orders 15 Rolling LTM website visits (m) Unique visits Total visits +39% +456% 12 +251% growth for LTM Dec-20 vs pcp1 9 6 1.15 67k % 0.83 % 3 12k - S
Slide 13: Exceptional Customer Growth, Immediate Payback
EXCEPTIONAL CUSTOMER GROWTH, IMMEDIATE PAYBACK GROWT H D RIV E N BY E XCE P T ION A L N E W CUSTOM E R ACQUIS IT ION A N D D E L IV E RIN G ST RON G RE T URN S ON CUSTOM E R ACQUIS IT ION COST S • 127% growth in Active Customers since June 2020 • ~3x upfront return on customer acquisition investment
Slide 14: Customer Lifetime Value
CUSTOMER LIFETIME VALUE P IECES IN P L ACE TO D RIV E LON G T E RM RE V E N UE GROW T H A N D L IF E T IM E VA LUE Share of gross revenue from repeat customers is Repeat customers spend more per order1 Gross revenue per customer1, 2 growing1, 2 1200 8% $868 $1,041 17% 19% $832 $841 26% 1000 $963 34%
Slide 15: Financial Performance
FINANCIAL PERFORMANCE RA P ID G ROW T H CON T IN UIN G W IT H ST RON G M A RGIN P E RFORM A N CE $’000 H1 FY21 H1 FY20 Growth % • Record 1H Sales revenue of $40.5m (+479% YoY) — Customer growth Sales revenue 40,528 6,997 479% Product margin 15,397 2,495 517% — Revenue per customer growth Delivered m
Slide 16: Tracking To IPO Pro Forma FY21 Forecast
TRACKING TO IPO PRO FORMA FY21 FORECAST ST RON G 1 S T HA LF P E RFORM AN CE June year end FY19A FY20A FY21F1 H1 FY21 % FY21F1 Key operational metrics Unique website visits (‘000) 1,522 3,804 10,165 5,846 58% % Change 686% 150% 167% 300% Conversion rate (%) 0.68% 0.99% 1.14% 1.15% Number of orders (
Slide 17: Financial Position
FINANCIAL POSITION ST RON G BA L A N CE S HE E T TO UN D E RP IN GROW T H December June • Closing cash balance of $44.9m, incorporating IPO proceeds $’000 2020 2020 • Strong balance sheet with zero debt provides flexibility for Cash and cash equivalents 44,861 4,669 future growth Other current asset
Slide 18: Cash Flow
CASH FLOW CA P ITA L L IG HT BUS IN ES S M OD E L S UP P ORT S CA S H GE N E RAT ION $’000 H1 FY21 H1 FY20 • Positive operating cash flow supported by: — Trading performance Net profit after tax 3,336 733 Depreciation and amortisation 262 166 — Attractive working capital profile Working capital — R&
Slide 19: Outlook
OUTLOOK PRIVATE & CONFIDENTIAL
Slide 20: H2 FY21 Outlook And Focus Areas
H2 FY21 OUTLOOK AND FOCUS AREAS • Our positive trading momentum has continued into H2 FY21, with January unaudited Gross revenue increasing 478% on the pcp1 • The Company is pleased to re-affirm our pro forma FY21 Prospectus Forecast2 GROWTH LEVER H2 FY21 FOCUS AREAS Traffic • Further accelerate mar
Slide 21: Cettire Is Well Placed To Grow
CETTIRE IS WELL PLACED TO GROW Massive + growing TAM, with structural tailwinds Global platform and opportunity, with traction in multiple markets Track record of explosive growth, cash generation and profitable since commercial launch; no external funding No inventory business model, delivering cap
Slide 22: Appendix
APPENDIX PRIVATE & CONFIDENTIAL
Slide 23: Sales Revenue Drivers
SALES REVENUE DRIVERS Gross Revenue Sales Revenue Drivers A Website visits E Gross revenue x x Seasonality B Conversion rate (1- F Return rate ) Marketing = Online product C Number of orders listings x D Average order value = E Gross revenue 23
Slide 24: Customer Fulfilment On The Cettire Platform
CUSTOMER FULFILMENT ON THE CETTIRE PLATFORM P ROP RIE TA RY T ECHN OLOGY TO M A N AGE A N D AUTOM AT E A L L STAGES OF CUSTOM E R ORD E R F UL F IL M E N T Customer fulfilment cycle ORDER INVENTORY LOGISTICS SALE FULFILMENT MANAGEMENT MANAGEMENT MANAGEMENT Customer Purchase made Customer order recei
Slide 25: Important Notice And Disclaimer
IMPORTANT NOTICE AND DISCLAIMER The information contained in this document and discussed at this presentation (collectively, the Presentation) has been prepared by Cettire Limited (ACN 645 474 166) (Cettire or the Company). The Presentation is subject to the conditions outlined below. Your receipt o
Slide 26: Global Online Luxury Retailer
GLOBAL ONLINE LUXURY RETAILER WWW.CETTIRE.COM