Slide 1: FY23 Results Presentation
FY23 RESULTS PRESENTATION 10 AUGUST 2023 1
Slide 2: FY23 Highlights
ft FY23 HIGHLIGHTS CETTIRE
Slide 3: FY23 Financial Highlights
FY23 FINANCIAL HIGHLIGHTS RAPID, PROFITABLE GROWTH DELIVERING FY23 ADJUSTED EBITDA OF $29. 3 MILLION FY23 Reported +87% +98% $29.3m ~$46m +63% Gross revenue 1 Sales revenue 1 Adjusted EBITDA 3 Net cash vs Active customers 2 to 423k to $539.2m to $416.2m $23m at 30 June 2022 FY23 Unit Economics FY24
Slide 4: FY23 Operational Highlights
FY23 OPERATIONAL HIGHLIGHTS SUCCESSFULLY EXECUTED AGAINST FULL -YEAR PROFITABLE GROWTH STRATE GY Profitable growth • Focused execution on profitable growth strategy in core fashion and accessories verticals execution • Significant fulfilment unit cost reductions achieved • Marketing optimisation, ac
Slide 5: Cettire's Continued Evolution
CETTIRE’S CONTINUED EVOLUTION CETTIRE HAS BEEN ABLE TO GROW RAPIDLY WHILST DELIVERING PROFITAB ILITY Sales revenue $416.2m H1 H2 $209.9m $92.4m $22.9m $0.5m $5.7m FY18 FY19 FY20 FY21 FY22 FY23 FY24+ EBITDA margin2 10% 12% 12% (10)% 7% Pre-IPO Since IPO FY23 Proving capability Supercharged growth Pro
Slide 6: FY24 Strategic Priorities
FY24 STRATEGIC PRIORITIES LEVERAGING TECHNOLOGY TO ADD SIGNIFICANT VALUE ACROSS THE LUXURY VALUE CHAIN 1 2 3 Continued growth in Increase penetration in Expansion into established markets¹ emerging markets¹ new markets & verticals Early in the market penetration story Enabled by migration to new, pr
Slide 7: Strong Growth Trends in Existing "Emerging" Markets
STRONG GROWTH TRENDS IN EXISTING “EMERGING” MARKETS PROPRIETARY STOREFRONT AND LOCALISATION FACILITATING NEXT LAYER OF PROFITABLE GROWTH Gross Revenue1,2 growth across markets (FY23) Emerging Markets share of Gross Revenue1,2 140% 27% 21% 77% "Established" "Emerging" FY22 FY23 ~60% of revenue3 ~8% o
Slide 8: FY23 Results
2 FY23 RESULTS CETTIRE
Slide 9: Continued Customer Momentum
CONTINUED CUSTOMER MOMENTUM WELL-POSITIONED TO CONTINUE TO DRIVE LONG TERM REVENUE GROWTH AN D ENHANCE LIFETIME VALUE Active Customers1,4 Growing share of gross revenue Repeat customers spending more from repeat customers 1,2,3 per order 1,3 423K $843 $794 $805 42% $683 50% $647 $623 60% 260K 115K 5
Slide 10: Improving Wallet Share
IMPROVING WALLET SHARE LOYALTY AND GROWING FREQUENCY DRIVING CONSISTENT GROWTH IN SPEND PER CUSTOMER $1,274 $1,198 $1,106 $1,069 $1,084 $1,082 1.68x $963 1.61x $873 1.55x $826 1.52x $784 1.48x 1.37x 1.26x 1.18x 1.19x 1.11x Dec-18 Jun-19 Dec-19 Jun-20 Dec-20 Jun-21 Dec-21 Jun-22 Dec-22 Jun-23 1,2,3,4
Slide 11: Improving Customer Lifetime Value
IMPROVING CUSTOMER LIFETIME VALUE COST INITIATIVES IMPLEMENTED SINCE H2 FY22 DRIVING SIGNIFICANT U NIT MARGIN IMPROVEMENT Customer acquisition cost 1,2 Delivered margin per active customer1,3,4 $226 $144 $136 $96 FY22 FY23 FY22 FY23 Disciplined acquisition: Margin uplift: Channel / geographic mix ad
Slide 12: Financial Performance
FINANCIAL PERFORMANCE HIGHL Y FL E X IBLE COS T BA S E ENA BLING S IGNIFICA NT P ROFITA BILITY • Continued strong revenue growth, sales revenue +98% Y/Y $’000 FY23 FY22 • Returns rate reduction supported by amendments to returns Sales revenue 416,227 209,884 policy in H2 FY22 Delivered margin 95,624
Slide 13: Balance Sheet
BALANCE SHEET CASH GENERATION SUPPORTED BY OPERATING PROFITS AND ATTRACTIVE WO RKING CAPITAL CYCLE • Closing cash $46.3 million, zero debt Jun Jun $’000 2023 2022 • Operating cash flow driven by FY23 operating surplus (cash profit) and favourable working capital dynamics Cash and cash equivalents 46
Slide 14: Trading Update & Outlook
3 TRADING UPDATE & OUTLOOK 14
Slide 15: Trading Update and Outlook
TRADING UPDATE AND OUTLOOK S E L F -FUND ING OP ERA TING M OD EL, TA RGETING S US TA INED P ROFITA BIL ITY IN FY 2 4 • The Company has continued to experience a healthy demand environment across its geographic footprint • Structural shift of luxury spend online provides ongoing addressable market be
Slide 16: Cettire Remains Ideally Positioned for Ongoing Growth
CETTIRE REMAINS IDEALLY POSITIONED FOR ONGOING GROWTH 1 Global growing TAM, with structural tailwinds and increasing penetration in multiple markets 2 No inventory business model, delivering capital efficient growth and compelling risk reward 3 Proprietary technology, enabling exceptional scalabilit
Slide 17: Appendix
APPENDIX CETTIRE
Slide 18: Cettire Overview
CETTIRE OVERVIEW C E TTIRE IS A GLOBA L LUX URY GOOD S P LA TFORM Global Brands Global Customers EL LA 53 geographic >2,500 brands 1 OD SU R M markets Y GE LY OR PP AN NETWORK NT DD NO INVE RANGE IVERSE >45m unique website visits 2; >500,000 products1 RAPID VALUE FULFIL 423,000 Active MENT Customers
Slide 19: Supply Chain Momentum
SUPPLY CHAIN MOMENTUM S UP P L Y C HA IN CONTINUES TO GROW S TRONGLY Brand database Product database Seller stock value 1 2 1 2 Published Brands Total Database Published Products 1 Total Database 2 Published Stock Value Total Database >2,500 >2,500 >400,000 >500,000 >$1bn ~$2bn >$1b >900 184k >$600m
Slide 20: Massive + Growing TAM, Structural Tailwinds
MASSIVE + GROWING TAM, STRUCTURAL TAILWINDS THE P E RS O NA L LUX URY GOOD S M A RKET IS EX P ECTED TO BE ~ US $ 6 00B GL O B A L IND US TRY BY 2 030 Share of global personal luxury goods market (US$ billions) Online Segment Offline Segment Global Personal $595 - $639 Luxury Goods 700 CAGR 5% - 6% G
Slide 21: Income Statement Reconciliations
INCOME STATEMENT RECONCILIATIONS Statutory EBITDA to Adjusted EBITDA reconciliation $’000s FY23 FY22 Statutory EBITDA 25,820 (24,114) Share-based payments 443 413 Unrealised FX & (gain) / loss on FX contracts 2,849 2,061 Other 210 165 Adjusted EBITDA 29,322 (21,475) General & administrative expenses
Slide 22: 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 23: Global Online Luxury Retailer www.cettire.com
GLOBAL ONLINE LUXURY RETAILER WWW.CETTIRE.COM 23