Mulberry Group Plc · LSE:MUL
Mulberry — FY2025 Earnings Presentation
16 slides from Mulberry's earnings presentation, June 2025
Slide 1: Results for the 52 Weeks Ended 29 March 2025
MULBERRY GROUP PLC – RESULTS FOR THE FIF T Y T WO WEEKS ENDED 29 MARCH 2025
Slide 2: Contents
RESULTS FOR THE FIFT Y T WO WEEKS ENDED 29 MARCH 2025 Contents Highlights 3 APPENDIX 13 Current Trading and Outlook 4 Store Detail 14 Revenue by Product 15 FINANCIAL REVIEW 5 Revenue 6 Omni-Channel Revenue 8 Group Income Statement 9 Group Balance Sheet 10 Group Cash Flow 11 Capital Expenditure 12 2
Slide 3: Highlights
RESULTS FOR THE FIFT Y T WO WEEKS ENDED 29 MARCH 2025 Highlights FINANCIAL HIGHLIGHTS — The reported loss before tax for the period was £31.8m (2024: — Gross margin of 66.8% (2024: 70.1%) as a result of promotional loss £34.1m), including a net adjusting charge of £8.1m (2024: activity and adverse p
Slide 4: Current Trading and Outlook
RESULTS FOR THE FIFT Y T WO WEEKS ENDED 29 MARCH 2025 Current Trading and Outlook — Group revenue for the 9 weeks since the period end is 18% below the same period last year. — Within this Retail and Digital revenue is down 17% at total level but only 5% down on a Like For Like (LFL) basis following
Slide 5: Financial Review
Financial Review
Slide 6: Revenue
RESULTS FOR THE FIFT Y T WO WEEKS ENDED 29 MARCH 2025 Revenue — Group revenue decreased by 21% over the prior period, with decreased revenues in the first half continuing into a challenging second half which saw revenues reduce by 23% over the same period last year. — UK Retail revenue was 20% below
Slide 7: Revenue
RESULTS FOR THE FIFT Y T WO WEEKS ENDED 29 MARCH 2025 Revenue 52 WEEKS 52 WEEKS 52 WEEKS 52 WEEKS £ MILLION ENDED 29 ENDED 30 % CHANGE £ MILLION ENDED 29 ENDED 30 % CHANGE MARCH 2025 MARCH 2024 MARCH 2025 MARCH 2024 DIGITAL 43.4 50.6 (14%) UK 0.9 1.4 (36%) STORES 66.0 84.1 (22%) NORTH AMERICA 0.1 0.
Slide 8: Omni-Channel Revenue
RESULTS FOR THE FIFT Y T WO WEEKS ENDED 29 MARCH 2025 Omni-Channel Revenue 52 WEEKS ENDED 52 WEEKS ENDED — Digital sales represented 36% of Group revenue (2024: 33%) reflecting £ MILLION % CHANGE the ongoing strength of this channel, and our omni-channel approach. 29 MARCH 2025 30 MARCH 2024 — Globa
Slide 9: Group Income Statement
RESULTS FOR THE FIFT Y T WO WEEKS ENDED 29 MARCH 2025 Group Income Statement — Gross margin during the period was 66.8% and £80.4m. The majority of AUDITED AUDITED 52 WEEKS ENDED 52 WEEKS ENDED the cash margin decrease year-on-year was through revenue decrease. £ MILLION 29 MARCH 2025 30 MARCH 2024
Slide 10: Group Balance Sheet
RESULTS FOR THE FIFT Y T WO WEEKS ENDED 29 MARCH 2025 Group Balance Sheet — Net working capital, which comprises inventories, trade and other AUDITED AUDITED 29 MARCH 30 MARCH receivables and trade and other payables, decreased by £18.7m to £6.6m £ MILLION 2025 2024 at the period end (2024: £25.3m).
Slide 11: Group Cash Flow
RESULTS FOR THE FIFT Y T WO WEEKS ENDED 29 MARCH 2025 Group Cash Flow AUDITED RESTATED AUDITED AUDITED RESTATED AUDITED 52 WEEKS ENDED 52 WEEKS ENDED £ MILLION 52 WEEKS ENDED 52 WEEKS ENDED £ MILLION 29 MARCH 2025 30 MARCH 2024 29 MARCH 2025 30 MARCH 2024 TA X (0.6) (0.4) OPERATING LOSS FOR THE PERI
Slide 12: Capital Expenditure
RESULTS FOR THE FIFT Y T WO WEEKS ENDED 29 MARCH 2025 Capital Expenditure £ MILLION — During the period, investment in capital expenditure 2.1 10.5 11.0 was reduced to £2.1m (2024: £10.5m) as a number of projects went live in the first half of the period. This spend supports investment to upgrade ou
Slide 13: Appendix
Appendix
Slide 14: Store Detail
RESULTS FOR THE FIFT Y T WO WEEKS ENDED 29 MARCH 2025 Store Detail AT 29 MARCH 2025 AT 30 MARCH 2024 CHANGES FROM 30 MARCH 2024 DEPARTMENT DEPARTMENT DEPARTMENT FREE STANDING TOTAL FREE STANDING TOTAL FREE STANDING TOTAL SHOP-IN-SHOP SHOP-IN-SHOP SHOP-IN-SHOP UK 15 10 25 16 12 28 (1) (2) (3) EUROPE
Slide 15: Revenue by Product
RESULTS FOR THE FIFT Y T WO WEEKS ENDED 29 MARCH 2025 Revenue by Product 2024.25 2023.24 2022.23 BAGS 6% 5% 7% ACCESSORIES, SMALL LEATHER GOODS & GIFTS 14% 15% 14% OTHERS 80% 80% 79% 80% Islington Bucket Lily Chain Necklace Handheld Dog Leash & Bayswater Small Classic Grain Plated Brass Dog Bag Hold
Slide 16: Slide 16