Jb Hi-fi Limited · ASX:JBH
Jb Hi-fi — FY2025 Earnings Presentation
37 slides from Jb Hi-fi's earnings presentation, Aug 11, 2025
Slide 1: JB Hi-Fi Limited FY25 Results Presentation
rsonal use only JB Hi-Fi Limited FY25 Results Presentation JB HI-FI LIMITED
Slide 2: Agenda
Agenda 1. Group Overview rsonal use only 2. FY25 Performance 3. Balance Sheet and Cash Flow 4. FY26 Trading Update 5. Group FY26 Focus Areas 6. Investment Checklist Terry Smart Nick Wells David Giansalvo Group CEO Group COO Group CFO JB HI-FI LIMITED PAGE 2
Slide 3: Group Overview
rsonal use only 1. Group Overview
Slide 4: The group model: Three iconic retail brands
https://www.thegoodguys.com.au/wcsstore/AUOnlineSAS/images/good-guys-logo.svg The group model Three iconic retail brands rsonal use only Help people with better ways to Help people find the perfect appliance Purpose live, learn, work, and play Help families live better for less to improve life in th
Slide 5: The group model: Underpinned by key competitive advantages
The group model Underpinned by 4 key competitive advantages rsonal use only 1 Scale & Diversification 2 Low Cost Operating Model 3 Multichannel Capability 4 People and Culture Suppliers Customer value Maximising customer reach Best customer experience ▪ Strong and engaged supplier ▪ Constant focus o
Slide 6: Generating sustainable long-term growth
Generating sustainable long-term growth The Group today released its FY25 Sustainability Report outlining our commitment to having a positive impact on our people, our community and our environment rsonal use only OUR PEOPLE OUR COMMUNITIES OUR ENVIRONMENT Health, Safety & Wellbeing Community Invest
Slide 7: FY25 Performance
rsonal use only 2. FY25 Performance
Slide 8: Group Highlights
Group Highlights rsonal use only 1 AUD FY25 FY24 Growth Total sales ($m) 10,554.8 9,592.4 962.4 10.0% ▲ 2 Earnings before interest and tax ($m) 694.1 647.2 46.9 7.3% ▲ Net profit after tax ($m) 2,3 462.4 438.8 23.6 5.4% ▲ 2,3 Earnings per share (basic ¢) 423.0 401.4 +22 cps 5.4% ▲ Dividend per share
Slide 9: Group FY25 Performance
Group FY25 Performance rsonal use only FY25 FY24 Growth $m % Sales ($m) - JB HI-FI Australia 7,103.2 6,609.9 493.4 7.5% ▲ - JB HI-FI New Zealand (NZD) 396.3 327.9 68.3 20.8% ▲ - The Good Guys 2,865.0 2,679.1 185.8 6.9% ▲ - e&s 225.2 n/a 225.2 n/a Total Sales (AUDm) 10,554.8 9,592.4 962.4 10.0% ▲ EBI
Slide 10: JB HI-FI Australia FY25 Performance
JB HI-FI Australia FY25 Performance rsonal use only AUD FY25 FY24 Growth Sales ($m) 7,103.2 6,609.9 7.5% ▲ Gross Profit ($m) 1,562.3 1,467.8 6.4% ▲ Gross Margin (%) 21.99% 22.21% (21 bps) ▼ Cost of Doing Business (%) 12.42% 12.61% (19 bps) ▼ EBITDA ($m) 680.2 634.1 7.3% ▲ EBITDA Margin (%) 9.58% 9.5
Slide 11: JB HI-FI Australia FY25 Performance
JB HI-FI Australia FY25 Performance FY25 Sales SALES GROWTH BY QUARTER rsonal use only ▪ Total sales increased by 7.5% to $7.10 billion, with comparable sales up 7.2%, driven by continued customer demand, new product releases, Total and well-executed promotional activity 9.0% Comp 8.7% 8.8% 8.2% ▪ T
Slide 12: JB HI-FI New Zealand FY25 Performance
JB HI-FI New Zealand FY25 Performance rsonal use only NZD FY25 FY24 Growth Sales ($m) 396.3 327.9 20.8% ▲ Gross Profit ($m) 67.3 55.5 21.3% ▲ Gross Margin (%) 16.99% 16.93% +6 bps ▲ Cost of Doing Business (%) 14.72% 15.59% (86 bps) ▼ EBITDA ($m) 9.0 4.4 104.3% ▲ EBITDA Margin (%) 2.28% 1.35% +93 bps
Slide 13: JB HI-FI New Zealand FY25 Performance
JB HI-FI New Zealand FY25 Performance FY25 Sales SALES GROWTH BY QUARTER rsonal use only ▪ Total sales increased by 20.8% to NZD396.3 million, with comparable sales up 9.2% 25.9% Total ▪ The key growth categories were Mobile Phones, Computers, Audio and Comp Small Appliances. Software sales (Music,
Slide 14: The Good Guys FY25 Performance
The Good Guys FY25 Performance rsonal use only AUD FY25 FY24 Growth Sales ($m) 2,865.0 2,679.1 6.9% ▲ Gross Profit ($m) 672.4 621.2 8.2% ▲ Gross Margin (%) 23.47% 23.19% +28 bps ▲ Cost of Doing Business (%) 14.65% 14.00% +65 bps ▲ EBITDA ($m) 252.7 246.1 2.7% ▲ EBITDA Margin (%) 8.82% 9.19% (36 bps)
Slide 15: The Good Guys FY25 Performance
The Good Guys FY25 Performance FY25 Sales SALES GROWTH BY QUARTER rsonal use only ▪ Total sales increased by 6.9% to $2.87 billion, with comparable sales up 6.5% ▪ The key growth categories were Floorcare, Portable Appliances, Cooking and Total 12.4% Computers 11.9% Comp ▪ Online1 sales increased by
Slide 16: e&s FY25 Performance
e&s FY25 Performance rsonal use only On 2 September 2024, the Group completed the acquisition of 75% of AUD FY251 e&s, a highly complementary premium home appliance and bathroom retailer Sales ($m) 225.2 FY25 Sales Gross Profit ($m) 64.3 ▪ Total sales were up 5.2% to $225.2 million, with comparable
Slide 17: Balance Sheet and Cash Flow
rsonal use only 3. Balance Sheet and Cash Flow
Slide 18: Group Balance Sheet and Cash Flow
Group Balance Sheet and Cash Flow Group Balance Sheet rsonal use only AUDm FY25 FY24 ▪ Inventory was $1.30 billion, up 18.7% or $204.8 million year on year. Cash 284.1 317.7 Excluding e&s, inventory was up 12.8% or $139.5 million year on year, Receivables 186.5 135.1 Inventories 1,298.5 1,093.6 with
Slide 19: Group Balance Sheet and Cash Flow
Group Balance Sheet and Cash Flow Group Cash Flow Statement Group Performance Indicators rsonal use only AUDm FY25 FY24 FY25 FY24 EBITDA 952.9 884.3 Fixed Charge Ratio 3 3.9x 3.9x Change in working capital (10.0) 40.2 Interest Cover 3 276.2x 327.3x Net interest received / (paid) on borrowings 9.8 9.
Slide 20: FY25 Final and Special Dividend
Group Balance Sheet and Cash Flow FY25 Final and Special Dividend FY25 ORDINARY DIVIDEND OF 275 CPS & rsonal use only ▪ As a result of the Group’s continued strong financial performance and cashflow generation, the Group has an elevated net cash position and a SPECIAL DIVIDEND OF 100 CPS significant
Slide 21: FY26 Trading Update
rsonal use only 4. FY26 Trading Update
Slide 22: Group FY26 Trading Update: July 2025 sales update
Group FY26 Trading Update July 2025 sales update rsonal use only JULY SALES GROWTH The Group provides the following sales update for the period 1 July 2025 Total to 31 July 2025 38.1% ▪ Total sales growth for JB HI-FI Australia was 6.1% (July 2024: 5.6%) Comp with comparable sales growth of 5.1% (Ju
Slide 23: Group Focus Areas
rsonal use only 5. Group Focus Areas
Slide 24: Group FY26 Focus Areas
Group FY26 Focus Areas The Group continues to leverage and evolve its unique offer and capabilities rsonal use only Group FY26 Focus Areas Retail Execution Supply Chain ▪ Delivery options - create best in class customer ▪ Prove value - actively promote and demonstrate value experiences ▪ Keep it sim
Slide 25: Investment Checklist
rsonal use only 6. Investment Checklist
Slide 26: Investment Checklist
Investment Checklist rsonal use only Unique team culture and unrivalled Unique and relevant brands customer service Flexible business model – history of Multichannel capability built category growth and development around high-quality store portfolio Diverse and resilient product categories
Slide 27: Appendices
ppendices 6 Ajuo asn jeuosia
Slide 28: Appendix I: Group Profit and Loss – Breakdown
Appendix I Group Profit and Loss – Breakdown rsonal use only FY25 FY24 JB HI-FI JB HI-FI The Good JB HI-FI JB HI-FI The Good Growth e&s Group Group AUDm AUST NZ (NZD) Guys AUST NZ (NZD) Guys \ Sales 7,103.2 396.3 2,865.0 225.2 10,554.8 6,609.9 327.9 2,679.1 9,592.4 10.0% ▲ Gross Profit 1,562.3 67.3
Slide 29: Appendix II: 5 year Group Profit and Loss
Appendix II a) 5 year Group Profit and Loss rsonal use only AUDm FY25 FY24 FY23 FY22 FY21 Sales 10,554.8 9,592.4 9,626.4 9,232.0 8,916.1 Gross Profit 2,360.4 2,140.4 2,182.5 2,080.4 1,977.2 Gross Margin 22.36% 22.31% 22.67% 22.53% 22.18% EBITDA 952.9 884.3 993.2 1,013.9 961.6 Depreciation on Fixed A
Slide 30: Appendix II: 5 year JB HI-FI Australia Profit and Loss
Appendix II b) 5 year JB HI-FI Australia Profit and Loss rsonal use only AUDm FY25 FY24 FY23 FY22 FY21 Sales 7,103.2 6,609.9 6,546.1 6,196.5 5,956.8 Gross Profit 1,562.3 1,467.8 1,481.4 1,387.7 1,325.2 Gross Margin 21.99% 22.21% 22.63% 22.40% 22.25% EBITDA 680.2 634.1 690.9 681.4 658.5 Depreciation
Slide 31: Appendix II: 5 year JB HI-FI New Zealand Profit and Loss
Appendix II c) 5 year JB HI-FI New Zealand Profit and Loss rsonal use only NZDm FY25 FY24 FY23 FY22 FY21 Sales 396.3 327.9 292.1 262.4 261.6 Gross Profit 67.3 55.5 46.7 45.7 46.6 Gross Margin 16.99% 16.93% 16.00% 17.40% 17.83% EBITDA 9.0 4.4 5.3 12.2 12.3 Depreciation on Fixed Assets 2.5 1.3 0.1 0.5
Slide 32: Appendix II: 5 year The Good Guys Profit and Loss
Appendix II d) 5 year The Good Guys Profit and Loss rsonal use only AUDm FY25 FY24 FY23 FY22 FY21 Sales 2,865.0 2,679.1 2,813.0 2,789.4 2,715.7 Gross Profit 672.4 621.2 658.4 649.9 608.6 Gross Margin 23.47% 23.19% 23.40% 23.30% 22.41% EBITDA 252.7 246.1 297.4 321.1 291.7 Depreciation on Fixed Assets
Slide 33: Appendix II: 5 year Group Balance Sheet
Appendix II e) 5 year Group Balance Sheet rsonal use only AUDm FY25 FY24 FY23 FY22 FY21 Cash 284.1 317.7 177.3 125.6 263.2 Receivables 186.5 135.1 146.5 132.6 102.8 Inventories 1,298.5 1,093.6 1,040.9 1,135.3 938.8 Other 46.5 39.9 34.6 31.2 35.7 Total Current Assets 1,815.6 1,586.3 1,399.3 1,424.7 1
Slide 34: Appendix II: 5 year Group Cash Flow
Appendix II f) 5 year Group Cash Flow rsonal use only AUDm FY25 FY24 FY23 FY22 FY21 EBITDA 952.9 884.3 993.2 1,013.9 961.6 Change in working capital (10.0) 40.2 5.0 (119.4) (241.0) Net interest received / (paid) on borrowings 9.8 9.3 0.7 (0.6) (1.7) Interest on lease liabilities (35.3) (29.2) (21.9)
Slide 35: Appendix II: 5 year Group CODB reconciliation
Appendix II g) 5 year Group CODB reconciliation rsonal use only AUDm FY25 FY24 FY23 FY22 FY21 Other income (ex interest revenue) (1.1) (1.8) (3.2) (2.2) (1.3) Sales and marketing expenses 1,167.0 1,039.1 978.3 881.1 845.8 Occupancy expenses 349.6 328.0 321.8 302.8 293.6 less depreciation, amortisati
Slide 36: Appendix III: Group store reconciliation
Appendix III 348 stores across Australia and New Zealand1 Group store reconciliation rsonal use only FY25 FY24 Opened Closed Acquired Total 1 2 JB Hi-Fi Australia 205 2 (1) - 206- 24 14 41 JB Hi-Fi New Zealand 19 4 - - 23- 24 5 The Good Guys 106 1 - - 107 14 30 e&s - 1 - 11 12 60 3 5 TOTAL 330 8 (1)
Slide 37: Important Notice and Disclaimer
Important Notice and Disclaimer The material in this presentation is general background information about JB Hi-Fi Limited (ACN 093 220 136) (JB Hi-Fi) and its rsonal use only activities current as at the date of the presentation, 11th August 2025. It is information given in summary form and does no