Srp Groupe Sa · EURONEXT:SRP
Srp Groupe Sa — Showroomprivé — H1 2021 Earnings Presentation
15 slides from Srp Groupe Sa's earnings presentation, 2021
Slide 1: H1 2021 Results
SHOWROOMPRIVE H1 2021 Results
Slide 2: 1. H1 2021 Financial Results
1. H1 2021 Financial Results
Slide 3: Key Business: A Promising Start for Another Strong Year
KEY BUSINESS A PROMISING START FOR ANOTHER STRONG YEAR Building on the 2018-2020 Performance Plan measures Logistics optimisation enabled significant economy of Over 300 new brands signed over H1 2021 scale Continued premiumisation of the offer First results of operational excellence deplo
Slide 4: Key Financial Highlights
KEY FINANCIAL HIGHLIGHTS Group net revenues increased by 28.3% to €388.3m in H1 H1 2020 H1 2021 % Variation 2021 as Showroomprivé continues to build on a profitable Gross Merchandise Volume* 444.1 527.7 18.8% growth trajectory Net revenues (in millions)** 302.7 388.3 28.3% Q2 2021 has performed
Slide 5: Key Financial Highlights (1/3)
KEY FINANCIAL HIGHLIGHTS (1/3) STRONG GROWTH OVER H1 2021 AS A CONTINUUM OF THE PROFITABLE GROWTH STARTED IN 2020 Showroomprivé is posting a strong H1 2021 results with 28.3% growth y-o-y to €388.3m, driven by: +30.0% revenue growth y-o-y on SRP Internet sales +18.8% revenue growth y-o-y on Be
Slide 6: Key Business Highlights (2/3)
KEY BUSINESS HIGHLIGHTS (2/3) DESPITE HIGHER COSTS, THE LOWERED HURDLE RATE ENABLES SHOWROOMPRIVE TO POST A STRONG EBITDA MARGIN Higher G&A costs driven by the strengthening of our commercial and IT forces, the increase in salaries due to performance bonuses and the normalisation of cost following
Slide 7: Key Business Highlights (3/3)
KEY BUSINESS HIGHLIGHTS (3/3) FURTHER STRENGTHENING OF ITS FINANCIAL STRUCTURE Drawing on its strong cash flow generation and confidence over the future, the company reimbursed the entirety of the state guaranteed loan of €35m in June 2021 As at 30-Jun-2021, the Company has a net cash position o
Slide 8: Net Revenue Performance
NET REVENUE PERFORMANCE – Net Sales IFRS breakdown € million Q2 2021 Net Revenue H1 2021 Net Revenue 13.7% 28.3% 388.3 209.9 302.7 3.1 (30.9%) 184.6 7.9% 1.3 4.6 1.2 27.5% 322.2 12.4% 175.2 252.7 155.9 38.4% 21.5% 45.4 62.9 27.4 33.4 H1 2020 H1 2021 H2 2019 H2 2020 International France Other Revenue
Slide 9: Strong Growth
STRONG GROWTH Net sales IFRS – BY QUARTERS € million +29% +21% +36% +0% +28% +19% +14% (20)% +51% 388.3 302.0 302.7 184.6 209.9 178.4 154.7 147.3 118.2 Q1 Q2 H1 2019 2020 2021
Slide 10: Focus on Customer
FOCUS ON CUSTOMER Average Revenue Per Buyer by Geography Active Buyers By Geography € € million 9.0% +19.5% 2.11 2.30 8.7% 1.72 1.87 Total 128 188 107 153 10.4% 193 0.40 0.44 H1 2020 H1 2021 167 155 Average Basket Size 142 131 € million 113 108 12.8% 102 47.5 42.1 H1 2020 H1 2021 Total Orders H1 202
Slide 11: Strong EBITDA Margin
STRONG EBITDA MARGIN EBITDA IFRS € million H1 2021 EBITDA 2.3% 8.5% + €26.0m 33.0 30.5 7.0 7.1 2.5 H1 2020 H1 2021 x Margin International France
Slide 12: 2020 P&L
2020 P&L € millions H1 2020 H1 2021 % Growth 1 Strong half year growth driven by good performance from Core 1 Business as a continuum to our profitable growth trajectory Net Revenues 302.7 388.3 28.3% Cost of Goods Sold (190.4) (230.7) 21.2% Strong Q1 driven by good momentum and first exposure of
Slide 13: Cash Flow and Net Debt
CASH FLOW AND EBITDA to net change in cash Inventories position € millions € millions Record EBITDA driven by efficiencies and strong 30-Jun-2020 46.4 EBITDA 33.0 business momentum Inflated by favourable cut off effect 31-Dec-2021 60.9 Change in Working Capital (7.8) Stabilisation of the Worki
Slide 14: 2. H2 2021 Priorities
|| iH) | = = a i = 2. H2 2021 Pr riti as
Slide 15: H2 2021: Pursue profitable growth
H2 2021 Pursue profitable growth with extra care to Reinforce and develop partnerships with brands using amongst other channels SRP services protect margins in line with that announced In face of the scarcity of the inventory, there is a need to be a little bit more aggressive in sourcing new offe