Slide 1: Financial Year 2024 Results
{e} JoyceGroup Financial Year 2024 Results 30 August 2024.
Slide 2: Joyce Group
Joyce Group “Helping Australians add value to their greatest asset - the family home” KWB Group kitchen connection #6 wallspan KWB Group's trading brands, Kitchen Connection and Wallspan, operate a network of 26 showrooms across Queensland, NSW, and South Australia. KWB is a clear leader in the Kitc
Slide 3: Flow of economic interest into Joyce Group
Joyce Group Flow of economic interest into Joyce Group KWB Group kitchen connection row despivation to lnstallation i wallspan kitchens & wardrobes 51% Majority Interest in Net Profit Attributable to JYC Shareholders 26 showrooms oo. Franchise Operator Bedshed No one’s better in the bedroom" Company
Slide 4: Operating Results FY24
{Qj JoyceGroup Operating Results FY24
Slide 5: Joyce Group FY24 Performance
Joyce Group FY24 Performance Overview Strong operational and financial performance across the Group from capital light and high margin businesses Steady revenue despite volatile trading conditions and lower foot traffic $8.4M Normalised* NPAT to JYC shareholders demonstrating resilient and adaptable
Slide 6: Results Overview
Results Overview fo Key financial performance metrics Revenue 145,509 145,179 330 0.2% Contribution Margin 70,407 68,420 1,987 2.9% Total Group Expenses 38,432 37,279 (1,153) (3.1)% Normalised* EBITDA 31,975 32,600 (625) (1.9%) Normalised* EBITDA Margin 22.0% 22.5% - - Normalised* EBIT 24,511 25,945
Slide 7: Results Overview
Results Overview Continuing track record of increasing returns to shareholders Total Dividend (cents per share) 28.5 25.5 Ordinary Dividend (cents per share) 23.0 25.5 Special Dividend (cents per share) 5.5 - Normalised* EPS (cents per share) 29.6 324 Dividends paid/payable ($’000) 8,376 7,237 JYC S
Slide 8: Cashflow Jul '23 to Jun '24
Results Overview Cashflow 1 Jul ‘23 to 30 Jun ‘24 ($M) Opening Cash Operating Cashflow Lease Liabilities Tax and interest Capex net of disposals Dividends Paid JYC Shareholders Dividends Paid KWEB Minority Interests Acquisition Bedshed Castle Hill and Alexandria Deposits paid Closing Cash $20 $40 $6
Slide 9: KWB Group
(3 JoyceGroup nnection wallispan KWB Group
Slide 10: KWB Group
KWB Group Showroom Network 26 () 25 26 OO oo’ Alexandria showroom opened July Program of renovation and ‘24 bringing network footprint to 26 refurbishment completed - delivered improved customer Further expansion targeted for conversion rates and enhanced FY25 with focus on Sydney productivity netwo
Slide 11: KWB Group Business model
KWB Group Business model Inspiring showrooms - Located in A-grade homemaker centres, displaying premium brands and products that are on trend and regularly updated Unique value proposition delivering a positive, seamless and hassle-free design and installation experience resulting in exceptional con
Slide 12: Revenue and Orders
KWB Group Revenue and Orders o Continued strong demand with >4,000 kitchens and >2,100 wardrobes installed in FY24. o $t14.2M orders generated during FY24 (net of ~$14M of dated orders removed during the year) o Lead times now normalised from COVID peak o $37M Order Book at 30 June ‘24 provides high
Slide 13: Operating Performance
KWB Group fo Operating Performance o Operating EBIT of $25.2M* (vs $25.3M* in FY23) o Operating EBIT margin of 20.8%* (vs. 20.5%* in FY23) o EBIT maintained through maintenance of gross margins and strong cost control o Further reduction in rework and warranty costs (<1.2% of net sales) o Increased
Slide 14: Bedshed
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Slide 15: Bedshed store network
Bedshed fo Store Network @ Company operations o 2x WA Stores o 2xNSW Stores Franchised 37 Net nil 37 @ Franchise operations o 12x WA Stores Company 4 2 6 10 x QLD Stores ° o 3xNSW Stores o 12x VIC Stores Jindalee store (Brisbane) Castle Hill & Alexandria (Metro opened August ’23 Sydney) now company
Slide 16: Bedding specialist segment growing faster than industry
Bedshed Bedding specialist segment (incl. Bedshed) growing faster than industry Bedding industry growth at 7% CAGR CVY19-Cy 23* 08 08 08 ; : ; : cyig cyY20 cy2i CY22 CY23 Bedding Specialist sales Bedding specialist industry size and share (Sbn, CYi9A - CY23A)” *Source: Sealy Australia Market Researc
Slide 17: Revenue
Bedshed Revenue ° OnuanwWhOON Improved network business written sales (“bws”) exceeding S1i50M Shift in consumer focus to “shopping for value mindset’ — record sales in November, December and June Franchise operations delivered like-for-like* growth in bws and revenue company store operations delive
Slide 18: Operating Performance
Bedshed [o Operating Performance reduced foot traffic and tougher trading conditions EBIT o Franchise Operations EBIT margin of 54% driven by 5 improved revenue and cost control Franchise operations 3,176 2,666 510 191% Company-owned stores 1,243 2,332 (1,089) (46.7)% o Company-owned store EBIT impa
Slide 19: Crave
{a JoyceGroup Crave Irresistible home staging.
Slide 20: Snapshot
Crave Snapshot Consistent increase in market penetration and revenue since launch in Sept ‘22 > $1.75 million revenue and ~500 jobs since launch (to end of Aug ‘24) Si million of revenue generated in FY24 and ~break-even EBITDA Significant contraction in housing market — FY24 listings down 22.6% on
Slide 21: Future Growth
{Qj JoyceGroup Future Growth
Slide 22: Future Growth Initiatives
Future Growth Initiatives (¢} JoyceGroup Established brands that are synonymous with helping Australians add value to their greatest asset - the family home KWB Group kitchen connection ag wallspan Well positioned with sole focus on residential renovation in substantial national kitchen renovation m
Slide 23: Corporate Directory
Corporate Directory ‘ ; 4.ADAMIC PTY LTD 77568 2614 Jeremy Kirkwood Non-executive Director (Chair) (2.UFBA PTY LTD 1,474,000 5.00 Karen Gadsby Non-executive Director (Deputy Chair) 3. ANACACIA PTY LTD <WATTLE FUND A/C> 4,227,394 416 - 4.DANIEL SMETANA <THE D A SMETANA FAMILY AjC> 1,224,651 415 Danie
Slide 24: References
References This Presentation should be read in conjunction with the following documents lodged with the ASX on 30 August ‘24 under the ASX ticker JYC: o FY24 - Annual Report, including Appendix 4E o FY24- Results Announcement o Appendix 2A: Dividend/Distribution 24
Slide 25: Appendix: FY24 normalising adjustments
Appendix : FY24 normalising adjustments FY24 Results per Financial Statements 31,975 24,511 24,654 (7,123) 17,531 8,863 Tax deduction applicable to share issue 10) 0 0 (421) (421) (421) nb: Crave remains in pilot but has not been normalised in FY24
Slide 26: Appendix: FY23 normalising adjustments
Appendix : FY23 normalising adjustments FY23 Results per Financial Statements 31141 24,172 24,002 (7,625) 16,377 7,934 Crave Business* 1165 1,479 1,479 (389) 1,090 1,090 Sale of KWB Property 294 294 294 (88) 206 105 *The Crave pilot generated $0.5M of income during the financial year (S0.4M in the s
Slide 27: Disclaimer
Disclaimer fo Information contained in this presentation may involve forward looking statements, and comments about the future including possible future performance estimates, estimated earnings, potential growth of the company or its industry or other projections. Forward looking statements can gen