Globe International Limited · ASX:GLB
Globe International — Investor Presentation (February 2025)
23 slides from Globe International's investor presentation, Feb 27, 2025
Slide 1: Globe Intl. H1 FY25 Results Presentation
GLOBE INTL. H1 FY25 ASX: GLB RESULTS PRESENTATION 27 FEBRUARY 2025 1
Slide 2: Globe International
Established in 1985, Globe International is a global producer and distributor specialising in purpose built apparel, footwear and skate GLOBE hardgoods. Serving the boardsports, street fashion, outdoor, and workwear markets, our products are sold in over 70 countries worldwide. INTERNATIONAL Founded
Slide 3: CEO Highlights
GLOBE INTERNATIONAL + Executing on our long-term strategy that will continue to deliver improved profitability across all regions + Core and emerging brands performing strongly, increasing their market share in a challenging market CEO HIGHLIGHTS + Transition in brand mix is playing out in line with
Slide 4: Executing on Long-Term Strategy
EXECUTING ON LONG-TERM STRATEGY Foundations in place to grow revenue and profits strongly STRATEGIC GOAL STATUS H1 FY25 UPDATE Grow revenue and earnings of core brands Core apparel revenue (FXD, Salty Crew and Globe footwear) up 13% on PCP with positive earnings Strategic decision to discontinue som
Slide 5: H1 FY25 Financial Highlights
GLOBE INTERNATIONAL + Revenue reduction in line with management plan due to strategic brand adjustments + Focus on higher margin, long-term international growth brands resulted in EBIT margin uplift + Foundations in place to grow revenue and profits strongly over remainder of FY25 H1 FY25 FINANCIAL
Slide 6: Global Presence. Growing Margins.
GLOBAL PRESENCE. GROWING MARGINS. + EBIT of $7.1 million, down 3% on PCP, driven by lower non-core sales, which delivered EBIT margin improvement of 7 ppts to 7.5% (H1 FY24: 6.8%) + International contribution growing + Europe: implementation of key brand strategic distribution initiatives and improv
Slide 7: Balance Sheet
BALANCE SHEET A$M as at 31 DEC 24 30 JUN 24 + $8.7 million in operating cash flow generated in H1 Cash and cash equivalents 24.6 22.1 + Clean inventory with improved aging; proactive increase in inventory to support strong H2 order book Inventory 46.5 39.0 + Improvement in Debtor Days over H1 Debtor
Slide 8: Dividend & Capital Management
+ Increased interim dividend to 10.0 cents per share fully franked, up 11% on PCP (H1 FY24: 9.0 cents per share) + Implied trailing 12-month yield of 6.6% + The Board determined the interim dividend having regard to underlying earnings and cash generation, the Company’s strong balance sheet, and its
Slide 9: Core Brand Performance
CORE BRAND PERFORMANCE Investing in apparel and expanding global profile Core brands market performance continues to grow across: + FXD apparel and footwear + Salty Crew apparel + Globe footwear FXD continuing to grow in North American premium workwear – 5-year CAGR of 53% + Maintained market leadin
Slide 10: Incubating the Brands of Tomorrow
STRONG DNA IN INVESTING IN EMERGING BRANDS + Some new and emerging brands will become core brands of the future INCUBATING + Currently incubating a mix of brands across a number of categories THE BRANDS OF + Strategy is to invest diligently in these brands – if a brand no longer fits the long-term g
Slide 11: Strategic Priorities
+ Continue core brand growth to deliver overall revenue growth in H2 and improve profitability + Expansion of international business through core apparel and footwear brand growth STRATEGIC + Continue to invest in emerging brand incubation and growth PRIORITIES + Attractive dividend returns to share
Slide 12: We Never Had a Master Plan for the Business
“WE NEVER HAD A MASTER PLAN FOR THE BUSINESS, JUST A SERIES OF GUIDING PRINCIPLES THAT WERE ARTICULATED BY PETER AND STEPHEN AS A BUSINESS MISSION: STAY TRUE TO OUR ROOTS, REMAIN HARDCORE AND BE ADAPTIVE TO THAT AS OUR WORLD EVOLVES, AND MOST IMPORTANTLY HAVE FUN BREAKING CONVENTION.” – MATT HILL 12
Slide 13: Appendix
APPENDIX 13
Slide 14: Globe Corporate Overview
GLOBE INTERNATIONAL Share Price (31 December 2024) $3.35 Shares on Issue (m) 41.5 52-week trading (low/high) $2.42 / $3.90 MARKET CAP $139M GLOBE CORPORATE SHARE REGISTRY BREAKDOWN OVERVIEW Other Board & Management Approx 70% Other Approx 30% Board and Management 14
Slide 15: Board & Senior Management
BOARD & GLOBE INTERNATIONAL SENIOR MANAGEMENT HARRY HODGE STEPHEN HILL PETER HILL MATT HILL KAREN BROWNE CHAIRMAN & EXECUTIVE DIRECTOR EXECUTIVE DIRECTOR CHIEF EXECUTIVE OFFICER CHIEF FINANCIAL OFFICER NON-EXECUTIVE DIRECTOR Harry Hodge was appointed to Stephen co-founded Globe Peter co-founded Glob
Slide 16: Core Brands
BRANDS CORE GLOBE INTERNATIONAL FOUNDED 1985 GLOBE SALTY CREW FXD Founded: 1994 Founded: 2014 Founded: 2012 Primary Products: Primary Products: Primary Products: Footwear, Skate Hardware Men’s and Women’s Surf, Men’s and Women’s Fish and Dive Apparel Workwear and Workboots 16
Slide 17: Emerging Brands
BRANDS EMERGING GLOBE INTERNATIONAL FOUNDED 1985 IT’S NOW COOL X-DMG SZADE RITUAL VISION Founded: 2017 Founded: 2023 Founded: 2021 Founded: 2024 Primary Products: Primary Products: Workwear Primary Products: Unisex Eyewear Primary Products: Unisex Eyewear Women’s Swimwear 17
Slide 18: Global Operations
OPERATIONS GLOBAL GLOBE INTERNATIONAL FOUNDED 1985 AUSTRALIA NORTH AMERICA EUROPE CHINA Established 1985 Established 1995 Established 2005 Established 2001 Handles APAC Handles Americas Direct in Western Europe and Skateboard Manufacturing Manages EMEA Distributors 18
Slide 19: Profit & Loss Statement
GLOBE INTERNATIONAL Half-year Notes 2024 2023 $’000 $’000 Revenue from contracts with customers 95,291 107,960 Other Income 536 664 Changes in inventories of finished goods and work in progress 6,090 (7,039) Inventories purchased (53,942) (48,824) Employee benefits expense (15,522) (16,167) PROFIT &
Slide 20: Balance Sheet
BALANCE SHEET GLOBE INTERNATIONAL Dec June LIABILITIES ASSETS 2024 2024 Dec June 2024 2024 Notes $’000 $’000 Current liabilities Current assets Trade and other payables 30,308 29,045 Current lease liability 2,424 2,239 Cash and cash equivalents 24,588 22,117 Borrowings 4 532 517 Trade and other rece
Slide 21: Cash Flow
GLOBE INTERNATIONAL Half-year 2024 2023 $’000 $’000 Cash flows from operating activities Receipts from customers (inclusive of goods and services tax) 110,390 114,850 Payments to suppliers and employees (inclusive of goods and services tax) (99,155) (96,060) Interest received 219 16 Interest and oth
Slide 22: Globe International
GLOBE INTERNATIONAL INVESTORS: MEDIA ABN 65 007 066 033 Craig Sainsbury Michelle Audsley Globe International Limited 1 Fennell Street, Port Melbourne, VIC 3207 Automic Group Automic Group +61 3 8534 9999 +61 428 550 499 +61 402 008 929 craig.sainsbury@automicgroup.com.au michelle.audsley@automicgrou
Slide 23: Globe International
GLOBE INTERNATIONAL This presentation has been produced by Globe International Limited its directors, employees, associates, affiliates and agents, make no: or agents, nor any other person accepts any liability for any loss, claim, (“Globe”) and may contain forward looking statements that are based
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