Michael Hill International Ltd. · ASX:MHJ
Michael Hill International — FY2026 Earnings Presentation
29 slides from Michael Hill International's earnings presentation, Aug 28, 2026
Slide 1: FY26 Investor Presentation
For personal use only FY26 Investor Presentation Michael Hill turnaround strategy delivers record Group revenue 28 August 2026 ASX/NZX: MHJ
Slide 2: Disclaimer
Disclaimer Certain statements in this report constitute forward-looking of the Group’s intellectual property rights, including patents statements. Forward-looking statements are statements and trademarks; the future adequacy of the Group’s current (other than statements of historical fact) relating
Slide 3: Agenda
Agenda FY26 Performance Overview For personal use only Jonathan Waecker Chief Executive Officer FY26 Financial Results Elodie Guillaumond Chief Financial Officer FY27 Strategy and Trading Update Jonathan Waecker Chief Executive Officer Closing & Q&A All 3
Slide 4: FY26 Performance Overview
For personal use only FY26 Performance Overview Jonathan Waecker CHIEF EXECUTIVE OFFICER
Slide 5: Turnaround delivers record Group revenue, EBIT up 57%, dividend restored
Michael Hill turnaround delivers record Group revenue, EBIT up 57%, dividend restored For personal use only • A new leadership team, in place and driving the reset. We are focused on excellent retail fundamentals, listening to our customers, and listening to our people. • A simpler business, followi
Slide 6: FY26 Results Summary
FY26 Results Summary Strong sales momentum and margin resilience resulted in significant profit growth. For personal use only 2 3 Record Group Revenue Same Store Sales Gross Margin Comparable EBIT $655.7m 5.2% 60.5% $24.0m 1 Up 4.1% in constant currency Up in all markets Up 57% Flat to prior year Up
Slide 7: Strategic Growth Engines
Strategic Growth Engines The strategic agenda we set out at our Investor Day in April is already gaining traction. For personal use only Growth Engines What We Did Execution Proof Points Canada Growth • Canada-specific go-to-market behaviours. • Record year, SSS up 7.0%, and online sales up 22% Aust
Slide 8: FY26 Financial Results
For personal use only SECTION 02 FY26 Financial Results Elodie Guillaumond CHIEF FINANCIAL OFFICER
Slide 9: FY26 Group Financial Results
FY26 Group Financial Results Profit growth from stronger sales, resilient margins, and disciplined cost management. For personal use only FY26 FY25 Change • Record group revenue, with sales growth across every market in local currency and momentum building through the year. Revenue $656m $644m 1.9%
Slide 10: FY26 Australia Segment
FY26 Australia Segment Strong performance in our largest market. For personal use only AU$ • Same Store Sales up 4.8%. FY26 FY25 Change • Higher sales and margin drove a healthy uplift in gross profit, delivering a 34.4% improvement in segment comparable EBIT. Revenue 372m 363m 2.5% • Gross margin u
Slide 11: FY26 Canada Segment
FY26 Canada Segment Delivered another record performance in our fastest-growing market. For personal use only CA$ • Same Store Sales up 7.0%, and online sales up 22%. FY26 FY25 Change • Segment comparable EBIT up 16.3%. Revenue 174m 162m 7.3% • Gross margin improved by 20 bps to 60.3%, achieved thro
Slide 12: FY26 New Zealand Segment
FY26 New Zealand Segment Delivered a marked acceleration, as the return to growth over Christmas was sustained through the second half. For personal use only NZ$ • Same Store Sales up 3.6% for the year. FY26 FY25 Change • This performance reflects a deliberate decision to fund additional customer-fa
Slide 13: Strengthened Balance Sheet
Strengthened Balance Sheet Disciplined working capital management reduced debt. For personal use only $Million FY26 FY25 • Net debt closed at $5.5m (FY25: $41.9m), an improvement of $36.3m, with Cash and cash equivalents 14.5 10.2 significant headroom ahead of peak seasonal inventory build for Chris
Slide 14: Disciplined Capital Deployment
Disciplined Capital Deployment Capital expenditure remained disciplined and in line with prior year. For personal use only • Capital expenditure and SaaS implementation costs of $19.7m in FY26, in line with FY25. Property, plant & equipment • A deliberate shift from technology investment to store ex
Slide 15: Dividend Restored
Dividend Restored Commitment to delivering sustainable returns to shareholders over time. For personal use only The Board has decided to declare a final dividend of AU2.0 cents per share, partially franked (50%) for Australian purposes, with partial New Zealand imputation credits (50%) and with cond
Slide 16: FY27 Strategy and Trading Update
For personal use only SECTION 03 FY27 Strategy and Trading Update Jonathan Waecker CHIEF EXECUTIVE OFFICER
Slide 17: Driving Profitable Growth
Driving Profitable Growth All four levers progressed: stronger store productivity, sales growth, steady margins, and lower cost of doing business. For personal use only IMPROVED STORE DIVERSIFIED GROSS PROFIT OPERATING LEVERAGE PRODUCTIVITY REVENUE GROWTH IMPROVEMENT IMPROVEMENT Footprint Cost of Sa
Slide 18: We've Simplified The Business
We’ve Simplified The Business We start FY27 with a focused two-brand portfolio, built to drive profitable growth. For personal use only FROM TO 5 Brands 2 Brands AUSTRALIA AUSTRALIA CANADA NEW ZEALAND 18
Slide 19: Our Purpose
For personal use only Our Purpose Making modern luxury accessible. 19
Slide 20: Making Modern Luxury Accessible
Making Modern Luxury Accessible Our strategy for Michael Hill is to focus on growing customers, profit, and engagement. For personal use only Grow Customers. Grow Profit. Grow Engagement. Win more customers, Set a new standard Turn our service into a scaling Michael Hill for profitability at definin
Slide 21: The Look For Less
The Look For Less Our strategy for Bevilles is to win on value, to move fast, and to run lean. For personal use only Win on Value. Move Fast. Run Lean. Deliver unmistakable Maximise inventory velocity Create structural customer value. and return on capital. advantage. People, culture and operating m
Slide 22: Product Design & Innovation
Product Design & Innovation The product strategy we set out at Investor Day continues to sharpen for FY27. For personal use only • Creating Products That Drive Demand and Excitement. Value-driven categories, limited releases, and focused product storytelling. • Innovating At Scale Across Key Growth
Slide 23: Strategic Growth Engines for FY27
Strategic Growth Engines for FY27 Building on FY26, our priorities remain sharp for the year ahead. For personal use only Growth Engines Initiatives Canada Growth • Increased investment in marketing to build awareness and inventory to capitalise on productivity gains. • Refitting five of our top six
Slide 24: Current Trading Update
Current Trading Update Sales improvement for the first eight weeks of FY27 For personal use only • We are seeing a year-on-year sales improvement through the first eight weeks of FY27, despite an uncertain macroeconomic environment, with gross margins also strengthening over the prior year. • Group
Slide 25: Q&A
Q&A For personal use only You are able to listen to Q&A via this platform. If you would like to ask a question, please click on ‘Request to Speak’ button at the bottom of the broadcast window. If you are in full screen broadcast mode, you will need to minimise to see this button. Click ‘Join Queue’.
Slide 26: Thank You
For personal use only Thank You INVESTOR RELATIONS Anthea Noble General Manager, Investor Relations & Treasury investor@michaelhill.com.au 26
Slide 27: Appendix A: Bridge from Comparable EBIT to Reported EBIT
Appendix A: Bridge from Comparable EBIT to Reported EBIT For personal use only Calculated as follows: (AUD million) FY26 FY25 Comparable EBIT 24.0 15.3 Impact of AASB16 Leases 12.0 11.4 Impact of IFRIC SaaS-related guidance 2.5 (0.9) Litigation judgement 0.3 3.0 Strategic review & simplification (6.
Slide 28: Appendix B: AASB16 Leases & SaaS Impact
Appendix B: AASB16 Leases & SaaS Impact FY26 Impact of FY26 FY25 Change For personal use only (AUD million) Stat AASB16 & SaaS pre-adjustments pre-adjustments pre-adjustments Revenue 655.7 - 655.7 643.7 1.9% Cost of sales (259.4) - (259.4) (254.2) 2.0% Gross profit 396.3 - 396.3 389.5 1.8% Employee
Slide 29: For personal use only
For personal use only 29
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