Cettire Ltd. · ASX:CTT
Cettire — FY2022 Earnings Presentation
28 slides from Cettire's earnings presentation, Aug 30, 2022
Slide 1: FY22 Full Year Results Presentation
FY22 FULL YEAR RESULTS PRESENTATION 30 AUGUST 2022 1
Slide 2: FY22 Highlights
i FY22 HIGHLIGHTS i Lu o 3 i§ lw [S)
Slide 3: Highlights FY22
HIGHLIGHTS FY22 RECORD RES ULTS POS ITION CETTIRE FOR ONGOING PROFITA BLE GROWTH FY22 Reported FY22 Operating Metrics +131% +127% +221% +127% Gross revenue 1 Sales revenue Unique Web Traffic Active customers 2 to $287.8m to $209.9m (44.7m) (260k) Sales revenue Active customers 3 FY23 Outlook >9x >9x
Slide 4: Highlights FY22
HIGHLIGHTS FY22 S IGNIFICANT PLA TFORM OPTIM IS A TION UND ERTA KEN D URING H2 Key H2 operational milestones: ✓ Completed migration to proprietary storefront software >400k ✓ Continued localisation; broadening of geographical revenue base Orders (+137%) ✓ Mobile apps launched – >15% of volume within
Slide 5: Cettire's Continued Evolution
CETTIRE’S CONTINUED EVOLUTION CETTIRE HAS A N ENVIA BLE A BILITY TO REM A IN A GILE, M A INTA INING S TR A TEGIC FLEX IBILITY Sales revenue $209.9m $92.4m $22.9m $0.5m $5.7m FY18 FY19 FY20 FY21 FY22 FY23 FY24+ EBITDA margin2 10% 12% 12% Pre-IPO Since IPO FY23 Proving capability Supercharged growth P
Slide 6: FY22 Annual Results
2 FY22 ANNUAL RE SUES CETTIRE
Slide 7: Record Customer Growth, Improving Wallet Share
RECORD CUSTOMER GROWTH, IMPROVING WALLET SHARE EX CEPTIONAL NEW CUS TOM ER A CQUIS ITION A ND GROWING REVENUE PER CUS TOM ER Active Customers1,3 Gross revenue per active Customer acquisition cost3,4 customer1, 2, 3, 5 H2 moderation reflects +127% increased focus on vs pcp marketing efficiency $1,106
Slide 8: Improving Customer Lifetime Value
IMPROVING CUSTOMER LIFETIME VALUE WELL POS ITIONED TO D RIVE LONG TERM REVENUE GROWTH A ND ENHA NCE LIFETI M E VA LUE Growing share of gross revenue from Repeat customers spending more per Increased purchase frequency by repeat repeat customers1, 2 order1 customers1 $841 $834 $794 $733 $682 1.55x $6
Slide 9: Financial Performance
FINANCIAL PERFORMANCE CONTINUED RA PID GROWTH H2 FY 2 2 O P TIM IS A TION TO IM P ROV E GO -FORWA RD UNIT ECONOM IC S $’000 FY22 FY21 Growth % • Record sales revenue of $209.9m and continued exceptional growth of +127% y/y Sales revenue 209,884 92,409 127% Delivered margin 37,359 21,976 70% • H2 del
Slide 10: Balance Sheet
BALANCE SHEET PRUD ENT S ETTINGS FOLLOWING PERIOD OF S IGNIFICA NT INVES TM ENT June June • Closing cash balance of $22.7m, zero financial debt $’000 2022 2021 • Year on year cash movement driven by: Cash and cash equivalents 22,673 47,131 — Investment-driven operating loss Other current assets 8,33
Slide 11: Business Update
S BUSINESS UPDATE CETTIRE
Slide 12: FY23 Strategic Priorities
FY23 STRATEGIC PRIORITIES L E V ERA GING TECHNOLOGY TO A D D S IGNIFICA NT V A LUE A CROS S THE L UX URY V A L UE C HA IN 1 2 3 Continued growth in Increase penetration in Expansion into established markets¹ emerging markets¹ new markets & verticals Early in the market penetration story. Enabled by
Slide 13: Tech Investment to Build World-Class User Experience
TECH INVESTMENT TO BUILD WORLD-CLASS USER EXPERIENCE PROPRIETARY S TOREFRONT A ND M OBILE A PP S IGNIFICA NTLY ENHA NCING US E R E X P E RIE NC E Embedding proprietary e-commerce storefront, iOS and Android Mobile Apps localisation enhancing global presence Development & Launch Enabling increased pe
Slide 14: Localisation Efforts Ongoing
LOCALISATION EFFORTS ONGOING ENHANCED LOCA LIS A TION TO BUILD BRA ND A ND PENETRA TION IN EX IS TING E M E RGING M A RKE TS ¹ • Currently service 53 markets – English language only – 15 currencies accepted – Only 5 markets with localised payment options – 4 markets with BNPL • Localisation initiati
Slide 15: Strong Growth Trends in Existing Emerging Markets
STRONG GROWTH TRENDS IN EXISTING “EMERGING” MARKETS S TOREFRONT A ND LOCA LIS A TION TO FA CILITA TE NEX T LA Y ER OF PROFITA B LE GROWTH FY22 Gross revenue growth Emerging Markets share across markets¹ of traffic 182% 125% 44% 28% "Established" "Emerging" Q4 FY21 Q4 FY22 Note: all growth metrics re
Slide 16: Business and Marketing Mix Will Shape Growth Metrics
BUSINESS AND MARKETING MIX WILL SHAPE GROWTH METRICS S EEKING TO BA LA NCE TRA FFIC A ND CONVERS ION RA TE TO M A X IM IS E OVERA LL REVENUE GROWTH • Both conversion and traffic growth will adjust as Business mix vs Group average metric a result of changes to our business mix as well as marketing mi
Slide 17: Supply Chain Momentum
SUPPLY CHAIN MOMENTUM S UPPLY CHAIN CONTINUES TO GROW S TRONGLY Brand database Product database Seller stock value4 1 2 1 2 1 2 Published Brands Total Database Published Products Total Database Published Stock Value Total Database >400,000 >$1bn >2,500 >1,700 >$600m ~200,000 $630m $416m 608 641 113k
Slide 18: Outlook
4 OUTLOOK 18
Slide 19: FY23 Profitability Drivers
FY23 PROFITABILITY DRIVERS M ULTIPLE LEVERS A LREA D Y S UPPORTING PROFITA BILITY Marketing investment • Moderation in paid acquisition investment level in FY23 as % of sales revenue2 • Leverage repeat customer activity Marketing mix • Significant moderation in brand investment2 • Greater emphasis o
Slide 20: FY23 Trading Update and Outlook
FY23 TRADING UPDATE AND OUTLOOK S ELF-FUND ING OPERA TING M OD EL, TA RGETING PROFITA BILITY IN FY 2 3 • Our positive trading momentum has continued into H1 FY23: Early look into FY23 — July 2022 sales revenue2 increasing +67% on the pcp; and — August (to 26th) sales revenue2,4 also increasing +67%
Slide 21: Appendix
5 APPENDIX 21
Slide 22: Cettire Overview
CETTIRE OVERVIEW CETTIRE IS A GLOBA L ONLINE LUX URY RETA ILER Selection Customers Economics >260,000 Active >400,000 products1 53 markets Customers2 44.7m unique website ~90% international >2,500 brands1 visits2 revenue2 50% of Gross revenue from >$1 bn stock value1 >$200m revenue2 returning custom
Slide 23: Cettire Value Proposition
CETTIRE VALUE PROPOSITION CETTIRE OFFERS ONE OF THE LA RGES T S ELECTIONS OF LUX URY ONLINE. W E OFFER COM PETITIVE P RIC ING A ND RA P ID FULFILM ENT, ENA BLED BY OUR HIGHLY S CA LA BL E P RO P RIE TA RY TE C HNO L O GY RANGE VALUE RAPID FULFILMENT PROPRIETARY TECHNOLOGY Customer value proposition
Slide 24: Massive + Growing TAM, Structural Tailwinds
MASSIVE + GROWING TAM, STRUCTURAL TAILWINDS THE PERS ONA L LUX URY GOOD S M A RKET IS A A $ 410B GLOBA L IND US TRY Massive + Growing TAM Online Penetration Millennial and Gen Z China Growth Millennial and Gen Z as a % of Global Personal Luxury Goods Share of sales % Online Penetration Global Person
Slide 25: Customer Fulfilment on the Cettire Platform
CUSTOMER FULFILMENT ON THE CETTIRE PLATFORM PROPRIETARY TECHNOLOGY TO MANAGE AND AUTOMATE ALL STAGES OF CUST OMER ORDER FULFILMENT Customer fulfilment cycle Order Inventory Logistics Sale Fulfilment management management management Customer Purchase made Customer order received Payment authorised Ce
Slide 26: Cettire Remains Well-Positioned for Ongoing Growth
CETTIRE REMAINS WELL-POSITIONED FOR ONGOING GROWTH Massive + growing TAM, with structural tailwinds Global platform and opportunity, with traction in multiple markets Track record of explosive growth and cash generation No inventory business model, delivering capital efficient growth and compelling
Slide 27: Important Notice and Disclaimer
IMPORTANT NOTICE AND DISCLAIMER The information contained in this document and discussed at this presentation (collectively, the Presentation) has been prepared by Cettire Limited (ACN 645 474 166) (Cettire or the Company). The Presentation is subject to the conditions outlined below. Your receipt o
Slide 28: Global Online Luxury Retailer www.cettire.com
GLOBAL ONLINE LUXURY RETAILER WWW.CETTIRE.COM 28