Shaver Shop Group Limited · ASX:SSG
Shaver Shop — H1 FY25 Earnings Presentation
30 slides from Shaver Shop's earnings presentation, Feb 24, 2025
Slide 1: Transform Yourself: H1 FY25 Results Presentation
TRANSFORM YOURSELF H1 FY25 RESULTS PRESENTATION 1
Slide 2: Contents
CONTENTS 01 Strategic Overview 02 H1 FY25 Highlights 03 Detailed financial results 04 FY25 Priorities Update 05 Trading Update 06 Appendices 2
Slide 3: Strategic Overview
01 STRATEGIC OVERVIEW
Slide 4: Shaver Shop Snapshot
SHAVER SHOP SNAPSHOT Founded in 1986 Market leader in Trusted and respected growth sector specialty retail brand with high DIY grooming, personal care, hair AU brand awareness of 87% - and beauty appliances for men Highly differentiated model and women – focussed on with lack of direct competition p
Slide 5: Shaver Shop Growth Drivers
SHAVER SHOP GROWTH DRIVERS Store Network 3 Key Growth Strategies Optimisation Range Expansion (category creep into adjacencies, product innovation) Strategic Category Management (Exclusives, leadership in range breadth and depth, private brand) Conservative balance sheet and proven profitability to
Slide 6: H1 FY25 Highlights
02 H1 FY25 HIGHLIGHTS 6
Slide 7: H1 FY25 Financial Highlights
H1 FY25 FINANCIAL HIGHLIGHTS Sales down 1.0% to Gross margin up 110bps to Net profit of 126m 44.5% 12.1m Net cash at 31 Dec 24 H1 FY25 100% franked dividend Net operating cash flow of up 0.1cps vs H1 FY24 to 24.5m 4.8c $28.1m • Very strong gross profit margins (up 110bps) to 44.5% largely offset sof
Slide 8: H1 FY25 Operational Highlights
H1 FY25 OPERATIONAL HIGHLIGHTS Net Promoter Score (NPS) of H1 FY25 in-store sales Online sales % of total sales conversion up 100bps vs pcp 88.9 46.0% 23.4% to m Click and collect - % of online In-store ATV up 2.1% to LFL outside foot traffic1 down (vs fulfilments pcp) 15.5% 87 c.8.0% • Despite soft
Slide 9: H1 FY25 Highlights: Transform-UTM Launch
H1 FY25 HIGHLIGHTS LAUNCH Highly successful launch across core men’s grooming categories supports gross margin expansion and overall confidence in private brand strategy • Progressive launch of Transform-UTM range across November and December (as stock arrived in ANZ) • Very positive feedback and su
Slide 10: Sales and Gross Profit Trends
SALES AND GROSS Sales Trend ($m) PROFIT TRENDS Very strong GP margin result largely offset slightly softer sales 127.1 131.9 127.1 125.8 123.6 107.5 Have maintained sales well-above pre-COVID levels H1 FY20 H1 FY21 H1 FY22 H1 FY23 H1 FY24 H1 FY25 Sales ($ millions) Record 45.5% GP margin in H1 FY25
Slide 11: Operational Metric Trends
OPERATIONAL METRIC TRENDS Net Promoter Score (NPS) Key operational metrics remain elevated 88.9 87.7 88.4 88.6 88.9 Customer service focus evidenced by NPS remaining close to 89 (out of H1 FY21 H1 FY22 H1 FY23 H1 FY24 H1 FY25 100) In-Store Sales Conversion % In-store sales conversion continues to be
Slide 12: Detailed Financial Results
03 DETAILED FINANCIAL RESULTS
Slide 13: H1 FY25 Profit & Loss
H1 FY25 PROFIT & LOSS Profit & Loss Reported Reported Variance Variance A$m H1 FY25 H1 FY24 ($) (%) Sales 125.8 127.0 (1.2) (1.0%) • Total sales down 1.0% to $125.8m Gross profit 57.2 56.4 0.8 1.4% • In-store sales up 0.3% to $96.3m • Online sales down 5.1% to $29.5m Gross margin % 45.5% 44.4% 1.1%
Slide 14: Balance Sheet 31 December 24
BALANCE SHEET 31 DECEMBER 24 AASB 16 AASB 16 AASB 16 A$m 31-Dec-24 30-Jun-24 31-Dec-23 Cash 24.5 13.3 31.9 • Net cash of $24.5m at 31 Dec 24 Trade & other receivables 4.9 2.9 5.3 • Increase in stock of $6.7m vs pcp primarily reflects Lease receivables - - - increased investment to support new Transf
Slide 15: Investment in Stock vs 31 Dec 23
Investment in stock vs 31 Dec 23 35.0 2.4 30.0 0.9 0.6 0.4 1.2 1.1 25.0 20.0 32.7 15.0 26.0 10.0 5.0 - Inventory at 31 Transform-U Skull Shaver & Category Creep New stores New Core Other Inventory at 31 Dec 23 Investment Exclusive Category Dec 24 Ditribution Brands Suppliers • Increase in stock is l
Slide 16: H1 FY25 Cash Flow
H1 FY25 CASH FLOW • H1 net operating cash flow of $28.1m (down $6.9m Reported Reported Variance on pcp) reflects: A$m H1 FY25 H1 FY24 $ • $3.8m stock payment deferred to July from June 2024 due to supplier terms NPAT 12.0 12.5 (0.4) • strategic investment in stock to support new Transform-UTM, exclu
Slide 17: Dividend & Capital Management
Dividend & Capital Management • H1 FY25 fully-franked dividend of 4.8 cents per share Interim Dividend (cps) • Up 0.1cps vs H1 FY24 and H1 FY23 and represents an increased payout ratio of NPAT • Current dividend policy is to pay out approximately 60%-80% of annual Cash Net Profit after Tax (Cash NPA
Slide 18: FY25 Priorities Update
04 FY25 PRIORITIES UPDATE
Slide 19: FY25 Priorities
FY25 Priorities What we said we would do What we’ve done • Successfully launch new Transform UTM brand • Launch well received by customers with high sell through, low returns and compelling margins • Leverage new Skull Shaver 5-year exclusive • Skull Shaver sales continued to grow in H1 FY25 distrib
Slide 20: FY25 Priorities (cont'd)
FY25 Priorities (cont’d) What we said we would do What we have done • Continue optimising store network to generate • Store optimisation program continued across ANZ: incremental returns: • 3 new stores opened, 1 relocated and 4 full store • Selectively open new stores refits • Relocations within ce
Slide 21: Trading Update
05 TRADING UPDATE
Slide 22: Trading Update
Trading Update • Sales and trading conditions from 1 Jan 25 through 20 Feb 25 (H2 FY25 TD) have remained broadly consistent with H1 FY25 as evidenced by: • Total sales growth of +0.3% • In-store sales growth of +0.2% • Online sales growth +0.5% • Like for like sales up +0.7% • Consistent with H1 FY2
Slide 23: Investment Summary
Investment Summary Segment leader both online and offline Large and growing market driven by changing consumer preferences and new product innovation Products range is applicable to almost all demographics Differentiated & resilient specialty retail business model – Service excellence and unparallel
Slide 24: Appendices
06 APPENDICES
Slide 25: Key Metrics
Key Metrics Reported Reported Comparable Accounting (AASB 16) H1 FY25 H1 FY24 Number of corporate stores* (31 Dec) 125 123 Number of franchise stores - - Total stores 125 123 Corporate store sales ($m) 125.8 127.0 Total network sales ($m) 125.8 127.0 Total sales growth % -1.0% -3.7% Like for like sa
Slide 26: Profit & Loss Trend
Profit & loss trend H1 FY20 H1 FY21 H1 FY22 H1 FY23 H1 FY24 H1 FY25 A$ millions Actual Actual Actual Actual Actual Actual Sales 107.5 123.6 127.1 131.9 127.0 125.8 Cost of goods sold (63.1) (68.4) (71.4) (73.5) (70.6) (68.6) Gross profit 44.4 55.3 55.7 58.5 56.4 57.2 Gross margin % 41.3% 44.7% 43.8%
Slide 27: Balance Sheet Trend
Balance sheet trend A$ millions 31-Dec-19 31-Dec-20 31-Dec-21 31-Dec-22 31-Dec-23 31-Dec-24 Cash 19.4 41.1 36.3 31.9 31.9 24.5 Trade & other receivables 5.1 0.9 5.6 5.3 5.3 4.9 Lease receivables 2.7 1.8 - - - - Inventory 33.1 23.5 24.6 26.0 26.0 32.7 Plant & Equipment 11.2 10.2 10.4 11.7 11.7 12.7 R
Slide 28: Shaver Shop Store Network (current)
Shaver Shop Store Network (current) TOTAL Feb 2025: 124 stores Target: 130-135 stores Northern Territory 1 store Queensland 26 stores Western Australia 17 stores New South Wales 33 stores South Australia ACT 7 stores 4 stores Victoria 25 stores New Zealand 9 stores Tasmania 2 stores 28
Slide 29: Important Notice and Disclaimer
Important notice and disclaimer This management presentation (“Presentation”) has been prepared by Shaver Shop Group Limited ACN 150 747 649 (“Shaver Shop”) and contains general background information about Shaver Shop, its subsidiaries and their activities which is current at the date of this Prese
Slide 30: Thank You
THANK YOU 30