Slide 1: FY22 Results Presentation
FY22 RESULTS PRESENTATION Peter King (CEO) & Kate Sundquist (CFO) 2 September 2022 dusk is a leading omni- channel speciality retailer of home fragrance products
Slide 2: FY22 Summary
dusk FY22 Summary SALES PERFORMANCE: Total Sales of $138.4m = Total sales -6.9% on FY21 (+37.3% on FY20) = 24% of store trading days in 1H lost due to store closures * Total LFL' sales -10.5% OMNI-CHANNEL: Online sales of $11.6m, +2.9% (+30.7% on FY20) = Represents 8.3% of total sales = Channel mix
Slide 3: Profit and Loss
Profit and Loss SALES AND PROFIT PRO FORMA? RESULTS dusk Total sales $10.2m lower, -6.9% LFL sales -10.5% (cycling +32.7% in FY21) ~24% of 1H store trading days were lost (5,483 days) due to store closures 10 new stores opened, finishing at 132 Gross margin $7.6m lower, -7.5% Gross margin rate 44 ba
Slide 4: Sales
Sales 4.2% 10.2% 33.2% 10.9% 11.1% 30.3% ▪ ▪ – – – ▪ ▪ ▪
Slide 5: Online Channel
dusk Online Channel ONLINE SALES ($M) COMMENTARY 39% CAGR (FY18-FY22) 1.2 11.6 8.8 45 : L] FY18 FY19 FY20 FY21 FY22 = Significant enhancement in data = Online sales $11.6m, +2.9% = Online penetration at 8.3% Upgraded web platform went live in August 2021 New web platform is faster, more flexible, an
Slide 6: Loyalty Rewards Membership Growth
Loyalty Rewards Membership Growth ▪ ▪ ▪ ▪ ▪
Slide 7: Gross Margin and Gross Margin Drivers
Gross Margin and Gross Margin Drivers ▪ ▪ ▪ ▪ ▪ 70. 0% $10 .00 $9. 50 68. 0% $9. 00 66. 0% $8. 50 64. 0% $8. 00 62. 0% $7. 50 60. 0% $7. 00 $6. 50 58. 0% $6. 00 56. 0% $5. 50 54. 0% $5. 00 52. 0% $4. 50 50. 0% $4. 00
Slide 8: Cost of Doing Business
. . dusk Cost of Doing Business COMMENTARY PRO FORMA COST OF DOING BUSINESS (CODB) (% OF SALES) = CODB $63.9m vs $59.9m pcp, +6.6% = CODB as a % increased and this 50.4% “‘de-leverage’ mainly arose from the significant period of store closures in 1H and the associated impact on sales, coupled with L
Slide 9: Balance Sheet
Balance Sheet COMMENTARY BALANCE SHEET AS AT 3 JULY 2022 dusk Solid cash conversion of earnings Ongoing opportunity to convert 27 legacy stores to the Glow 2.0 format with attractive and proven ROI Inventory position clean and stock levels adequate to meet demand Net cash at period end of $21.3m Bal
Slide 10: Strategy
Strategy Generating sustainable long-term growth by leveraging core competencies to grow market share ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪
Slide 11: Trading Update and Outlook
Trading Update and Outlook ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ✓ ▪ ✓ ✓ ✓ ✓ ✓ ✓
Slide 12: Appendix
Appendix Appendix
Slide 13: The Strength of Our Vertical Business Model
The Strength of Our Vertical Business Model • • • • • • • • • • • • • • •
Slide 14: Track Record of Performance
Track Record of Performance Step change achieved across all key metrics since FY18
Slide 15: Like for Like Sales Performance
Q1 FY18 Q2 FY18 Q3 FY18 Q4 FY18 Q1 FY19 Q2 FY19 Q3 FY19 Q4 FY19 Q1 FY20 Like for Like Sales Performance Q2 FY20 Q3 FY20 Q4 FY20 Q1 FY21 Q2 FY21 Q3 FY21 Q4 FY21 Q1 FY22 Q2 FY22 Q3 FY22 Q4 FY22
Slide 16: National Store Network
. dusk National Store Network STORE NETWORK' NET STORE OPENINGS 132 Stores o o @ ° 3) @ "1 3 10 (3) (29) @ Physical stores - ° (1) @ online store (6) = Opened 10 new stores in FY22 — 4 in NSW, 3 in VIC, and 1in QLD, WA and SA FY18 FY19 FY20 FY21 FY22 = Relocated 3 stores in FY22 — 2 in NSW and 1 in
Slide 17: Pro Forma Profit and Loss
Pro Forma Profit and Loss 1. Proforma EBIT is unaudited and excludes IPO related costs, the net benefit of JobKeeper, NSW JobSaver receipts, rental concessions, Eroma acquisition costs (terminated transaction) and is pre-AASB 16
Slide 18: Pro Forma Adjustments
Pro Forma Adjustments PRO FORMA ADJUSTMENTS TO THE STATUTORY RESULTS dusk Statutory EBITDA 30.7 48.6 45.6 Impact of AASB16 (12.6) (13.6) (15.5) Rental concessions received (1.0) (0.3) (0.4) Net JobKeeper benefit (2.3) - - Public company costs (0.7) - - IPO costs 0.7 6.6 - NSW JobSaver receipts - - (
Slide 19: Cash Flow Reconciliation
eres dusk Cash Flow Reconciliation PRO FORMA CASHFLOW TO THE STATUTORY RESULTS Pro forma EBITDA 41.4 29.8 Capex (3.8) (5.3) Change in Inventory (5.8) (1.0) Change in Trade Creditors (2.5) 0.9 Change in Other Working Capital Items 48 2.2 Net Cashflow before financing and tax 341 26.6 Cashflow : EBITD
Slide 20: Disclaimer
dusk Disclaimer This presentation has been prepared by Dusk Group Limited (‘dusk’) ABN: 38 603 018 131. It is general information on dusk and its subsidiaries (‘dusk Group’) current as at 2 September 2022. It is in summary form and is not necessarily complete. It should be read together with the com