Adairs Ltd. · ASX:ADH
Adairs — FY2025 Earnings Presentation
33 slides from Adairs's earnings presentation, Aug 27, 2025
Slide 1: Adairs Limited FY25 Results Presentation
Adairs Limited FY25 Results Presentation 27 August 2025 Elle Roseby Managing Director & Group Chief Executive Officer Ashley Gardner Group Chief Financial Officer Important Information FY25 was a 52-week period for statutory purposes, compared to a 53-week period in FY24. To aid comparison, an ‘Adju
Slide 2: Overview: FY25 Group
For personal use only Overview FY25 Group
Slide 3: For personal use only
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Slide 4: FY25 Financial Performance
For personal use only See Me A + be 0, ® & 2° eT. © cy FY25 Financial Performance
Slide 5: FY25 Group financial summary
4 FY25 FY24 FY24 Adjusted change2 ($ million) 52 weeks 52 weeks 53 weeks ($ million) % TOTAL SALES Adairs 442.2 403.7 413.4 +38.5 +9.5% ▲ For personal use only Focus on Furniture 117.9 126.2 129.6 -(8.2) -(6.5%) ▼ Mocka 57.9 50.5 51.4 +7.4 +14.7% ▲ GROUP 618.1 580.4 594.4 +37.7 +6.5% ▲ UNDERLYING EB
Slide 6: Adairs financial results
5 ($ million) FY25 FY24 Adjusted Underlying 1 52 weeks 53 weeks change 2 Change ► Store sales 321.3 298.8 +10.0% +7.5% – Online sales 121.0 114.6 +8.3% +5.6% For personal use only – Total sales 442.2 413.4 +9.5% +7.0% – Gross margin 269.9 259.3 +6.5% +4.0% – Warehouse costs (26.3) (29.2) -(8.5%) -(1
Slide 7: Focus on Furniture financial results
6 ($ million) FY25 FY24 Adjusted Underlying 1 52 weeks 53 weeks change 2 Change Store sales 110.2 120.6 -(6.1%) -(8.6%) ► Online sales 7.7 9.0 -(12.3%) -(14.3%) For personal use only Total sales 117.9 129.6 -(6.5%) -(9.0%) ► Gross margin 59.9 69.0 -(10.7%) -(13.2%) Warehouse costs (6.7) (7.6) -(10.0
Slide 8: Mocka financial results
7 ($ million) FY25 FY24 Adjusted Underlying 1 52 weeks 53 weeks change 2 Change ► Store sales3 0.7 - +100.0% +100.0% Online sales 57.2 51.4 +13.3% +11.2% For personal use only – Total sales 57.9 51.4 +14.7% +12.7% – Gross margin 34.4 30.0 +16.7% +14.6% Warehouse costs (4.3) (3.9) +11.6% +10.3% ► Del
Slide 9: Balance sheet, net debt and cash flow
8 ($ million) Jun 23 Jun 24 Jun 25 ► Inventories 87.8 83.7 96.0 Trade and other payables (54.9) (52.4) (57.9) For personal use only Deferred revenue (20.1) (21.5) (21.3) ► Property, plant and equipment 22.9 38.3 39.1 Intangibles 282.3 282.6 281.7 Right-of-use assets 157.2 175.5 209.6 ► Lease liabili
Slide 10: Vision 2030 and FY26 Initiatives
For personal use only Vision 2030 and FY26 Initiatives
Slide 11: For personal use only
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Slide 13: Adairs Spotlight: Strategic Partnership with Qantas Frequent Flyer
Adairs — Spotlight: Strategic Partnership with Qantas Frequent Flyer 12 For personal use only adairs What From 30 July 2025 Linen Lover members can earn 1 Qantas Point for every $1 spent on eligible purchases at Adairs, either in-store or online. Customers must be members of both the Linen Lover and
Slide 14: For personal use only
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Slide 15: Adairs Data & Technology Upgrade: Functional benefits
Adairs Data & Technology Upgrade — Functional benefits it | use only -Or persona adairs Management: Better data and insights to make faster and more informed decisions Inventory productivity / merch planning: Smart, Al enabled inventory allocations and replenishment. Merchandise planning and demand
Slide 16: Focus on Furniture FY26 initiatives
Focus on Furniture — FY26 initiatives 15 < , = >» Customer research has recently been completed, providing deep insights rs into how customers perceive Focus and what they expect from furniture 4 retailers. This will form the basis for a strategy reset focused on: WI - = i | se > Improved customer v
Slide 17: Sales growth of South Australian stores pre/post refurbishment
For personal use only 16 • • Cumulative incremental sales growth of both South Australian stores pre/post refurbishment 25% • 20% • 15% • • 10% • 5% • 0% Wk Wk Wk Wk Wk Wk Wk Wk Wk Wk Wk Wk Wk Wk Wk Wk 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 • • Measurement Period: 1 May to 17 Aug 2025 vs PCP
Slide 18: For personal use only
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Slide 19: For personal use only
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Slide 20: Trading update and Outlook
For personal use only _ Trading update and Outlook
Slide 21: For personal use only
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Slide 22: For personal use only
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Slide 23: Questions?
For personal use only QUESTIONS? Saal —S
Slide 24: Appendices
APPENDICES = Group income statement reconciliation Group income statement Group cash flow reconciliation About the Adairs Group Store footprint — Adairs Store footprint — Focus on Furniture Environmental, Social and Governance update Glossary
Slide 25: Group income statement reconciliation
24 FY25 RECONCILIATION FY24 RECONCILIATION Underlying WMS SaaS cloud Leadership Office / DC Statutory Underlying NDC SaaS cloud Statutory AASB 16 AASB 16 ($ million) FY25 transition computing transition transition FY25 FY24 transition computing FY24 impact impact 52 weeks costs projects costs costs
Slide 26: Group income statement
25 Adairs Focus Mocka Group ($ million) FY25 FY25 FY25 FY25 FY24 Adjusted Underlying1 52 weeks 52 weeks 52 weeks 52 weeks 53 weeks change2 Change Store sales 321.3 110.2 0.7 432.5 419.4 +5.6% +3.1% For personal use only Online sales 121.0 7.7 57.2 185.9 175.0 +8.7% +6.2% Total sales 442.2 117.9 57.9
Slide 27: Group cash flow reconciliation
26 Underlying Underlying FY25 RECONCILIATION ($ million) FY25 FY24 Underlying AASB 16 Statutory Underlying ($ million) Underlying EBITDA 68.1 68.8 FY25 impact FY25 FY24 Significant items (cash impact) (9.0) (4.9) For personal use only Opening cash 12.9 - 12.9 25.9 Share-based payments 0.0 0.0 Operat
Slide 28: About the Adairs Group
27 Adairs Limited (ASX: ADH) is a leading omni-channel specialty retailer of home furnishings, furniture and home decoration products operating across Australia and New Zealand Common to all three businesses For personal use only ► Design-led (in-house) ► Exclusive and differentiated products ► Lead
Slide 29: Store footprint: Adairs
28 FY25 ACTIVITY Store count Jun 24 New Closed Upsize Refurb Jun 25 VIC 52 - (2) 1 - 50 For personal use only NSW 44 1 (3) - - 42 QLD 31 2 - 3 - 33 WA 22 - (1) - - 21 1 SA 8 - - - - 8 ACT 4 - - - - 4 TAS 2 - - - - 2 NT 1 - - - - 1 NZ 7 1 (1) - - 7 22 Total 171 4 (7) 4 - 168 1 GLA (m2) 75,702 77,738
Slide 30: Store footprint: Focus on Furniture
29 FY25 ACTIVITY Store count Jun 24 New Closed Upsize Refurb Jun 25 VIC (Metro) 11 - - - - 11 For personal use only VIC (Regional) 4 - - - - 4 NSW (Metro) 2 - - - - 2 NSW (Regional) 3 - - - - 3 ACT 1 - - - - 1 SA 2 - - - 2 2 QLD 2 1 - - - 3 Total 25 1 - - 2 26 GLA (m2) 44,308 46,140 Change (m2) +1,8
Slide 31: Appendix 7: Environmental, Social and Governance update
Appendix 7: Environmental, Social and Governance update 30 Environmental > The Group’s Scope 1+2 emissions rose 1.8% in absolute terms in CY24, driven by a larger store footprint and notably warmer weather (v CY23). > Landfill waste in FY25 was elevated by the move of both Adairs and Focus on Furnit
Slide 32: Glossary
31 Term Meaning Term Meaning ASP Average selling price LFL Like for like LTM Last twelve months ATV Average transaction value Mosaic In a retail context this is a consumer classification method that groups For personal use only CAC Customer acquisition cost segmentation customers by lifestyle, demog
Slide 33: Important Notice and Disclaimer
Important Notice and Disclaimer The material in this presentation is general background information about Adairs Limited (ABN 50 147 375 451) (Adairs) and its activities current as at the date of the presentation. It is information given in summary form and does not purport to be complete. It should