Breville Group Limited · ASX:BRG
Breville — Investor Presentation (August 2024)
27 slides from Breville's investor presentation, Aug 21, 2024
Slide 1: Full Year Results – Year Ended 30 June 2024 (ASX cover letter)
Breville Group Limited 21 August 2024 ASX Market Announcements Office Australian Securities Exchange 20 Bridge Street Sydney NSW 2000 Full Year Results Investor Presentation – Year Ended 30 June 2024 Attached is a copy of the Breville Group Limited Full Year Results Investor Presentation for the yea
Slide 2: Full Year Results FY24 Investor Presentation
BRGGROUP Breville Sage GLELIT BARATZA iiiChefsteps beanz.com Breville Group Limited (ASX : BRG) FULL YEAR RESULTS FY24 Investor Presentation 21st August 2024
Slide 3: Forward-looking statements disclaimer
To the extent this Presentation contains any forward-looking statements, such statements are not guarantees of future performance and involve known and unknown risks and uncertainties and other factors, many of which are beyond the control of BRG, its Directors and management, and involve elements o
Slide 4: Acknowledgement of Country
Acknowledgement of Country We would like to acknowledge the traditional custodians on whose land we meet today. We would like to pay respect to their Elders: past and present; and further extend that respect to all Aboriginal and Torres Straight Islanders present here today. We celebrate the continu
Slide 5: Commentary
Commentary AUDm FY24 FY23 % Chng • Record sales year in the face of subdued Revenue 1,530.0 1,478.6 3.5% consumer backdrop Gross Profit 556.9 516.9 7.7% • Material 2H24 strengthening in sales growth, led by double-digit sales growth in Americas, Gross Margin (%) 36.4% 35.0% EMEA and Coffee EBITDA 24
Slide 6: Commentary
Revenue Gross Profit Gross Margin AUDm FY24 FY23 % Chng FY24 FY23 % Chng FY24 FY23 Global Product 1,336.0 1,279.2 4.4% 503.0 470.5 6.9% 37.7% 36.8% % Change CC1 2.0% Distribution 194.0 199.3 (2.7)% 53.9 46.4 16.1% 27.8% 23.3% *Cc: constant currency TOTAL 1,530.0 1,478.6 3.5% 556.9 516.9 7.7% 36.4% 3
Slide 7: Global Product Segment Revenue
GLOBAL PRODUCT SEGMENT REVENUE AUDm % Chng 1H24 2H24 FY24 FY23 % Chng CC1 CC1 CC1 Americas 735.5 701.2 4.9% 2.9% (2.2)% 12.0% EMEA 325.2 285.8 13.8% 8.5% 5.5% 12.3% APAC 275.4 292.2 (5.8)% (6.4)% (5.7)% (7.1)% TOTAL 1,336.0 1,279.2 4.4% 2.0% (1.3)% 7.1% 1CC: constant currency Commentary • 7.1% const
Slide 8: Global Product Segment Revenue
GLOBAL PRODUCT SEGMENT REVENUE AUDm % Chng 1H24 2H24 FY24 FY23 % Chng CC1 CC1 CC1 Americas 735.5 701.2 4.9% 2.9% (2.2)% 12.0% EMEA 325.2 285.8 13.8% 8.5% 5.5% 12.3% APAC 275.4 292.2 (5.8)% (6.4)% (5.7)% (7.1)% TOTAL 1,336.0 1,279.2 4.4% 2.0% (1.3)% 7.1% 1CC: constant currency EMEA • Double-digit gro
Slide 9: EBIT Growth
12.1% 11.6% -13.6 40.0 -13.5 185.7 0.8 EBIT growth A$m 172.0 +$13.7m / +8.0% Gross Profit increased $40.0m Overall opex or 7.7% increased $26.3m or 7.6% Minor differences may arise due to rounding FY23 EBIT Gross Profit D&A Employee Other FY24 EBIT Cost Commentary • As planned, D&A increased followi
Slide 10: Overall inventory back to equilibrium at 21.8% of sales at end of FY24
Sales Total Inventory Inv % of Sales A$m 1,600 1,418 1,479 1,530 30% 1,400 1,188 31.4% 29.7% 1,200 25% 952 21.8% 1,000 20.0% 20% 18.2% 800 760 16.1% 15% 600 446 440 10% 400 333 217 152 154 5% 200 0 0% FY19 FY20 FY21 FY22 FY23* FY24* * Inventory balance includes Lelit manufacturing GM % 35.7% 33.7% 3
Slide 11: Inventory levels successfully reduced by $106.8m
AUDm1 June 24 June 23 Commentary Inventory 332.8 439.6 • Inventory levels successfully reduced by $106.8m, or Receivables 24.3%, whilst Gross Margin increased 282.0 276.8 Trade and other payables • Overall working capital decreased by $113.5m or 24.9% (273.2) (261.3) • Normal seasonal reduction in r
Slide 12: EBIT slightly above the top end of guidance
• EBIT slightly above the top end of guidance driven by solid Gross Profit gains and well controlled Opex • Revenues, Gross Profit and EBIT have all increased every year since FY15 • Another record year with sales of over A$1.5bn - more than doubling over the last 5 years • 2H24 sales growth shows m
Slide 13: Forward Integrating into Solutions
Forward Integrating into Solutions Geographic Expansion Investment into R&D, Marketing, and Technology Services Unified, Global SaaS Platform 12
Slide 14: Multi-Brand B2B Portal
Multi-Brand B2B Portal BRG Enter keyword or SKU number Q we GROUP | Lc or HOME SHOP BY BRAND v SHOP BY CATEGORY v My Recent Orders Order Summary Number Ordered Date Customer Reference Status Multi-Brand B2B Portal (Breville, Baratza and Lelit) is now live in the US, the UK, the EU, and AU. a ee" a2
Slide 15: Forward Integrating into Solutions
Forward Integrating into Solutions Geographic Expansion Investment into R&D, Marketing, and Technology Services Unified, Global SaaS Platform 14
Slide 16: The Oracle Jet
The Oracle® Jet The new standard in performance, automation & speed. Powered by ThermoJet®. eS BRGGROUP Breville Sage SLeELIT BARATZA fichefsteps beanz.com
Slide 17: Sparkle Anything
the Infizz” Range 16 . rsh BRGGROUP Breville Sage SLeELIT BARATZA fichefsteps beanz.com
Slide 18: New Food Processor Range
New Food Processor Range The Paradice™ 16 The Kitchen Wizz ° 16 The Paradice™ 9 The Kitchen Wizz °9 en oo Ty 17 “as % ile , SLELIT BARATIA Hchefst com 2 i LA ne } BRGGROUP Breville Soge i Chefsteps beanz:
Slide 19: Forward Integrating into Solutions
Forward Integrating into Solutions Geographic Expansion Investment into R&D, Marketing, and Technology Services Unified, Global SaaS Platform 18
Slide 20: FY2018 to FY2024 sales
FY2018 FY2019 FY2020 FY2021 FY2022 FY2023 FY2024 19
Slide 21: Both brands now direct in the US, UK, Europe and Australia
BARATZA|LELIT SALES NEW DIRECT MARKETS* A$ FY23 FY24 • Both brands now direct in the US, UK, Europe and Australia • B2B Portal live in all direct countries, facilitating automation and dropship for smaller customers • Selective entry into Breville|Sage channel 20
Slide 22: A$ Constant Currency
A$ Constant Currency A$ Constant Currency 350 300 250 200 150 100 50 0 FY16 FY17 FY18 FY19 FY20 FY21 FY22 FY23 FY24 FY18 FY19 FY20 FY21 FY22 FY23 FY24 New Zealand South Korea APAC EMEA South Korea New Zealand 21
Slide 23: Forward Integrating into Solutions
Forward Integrating into Solutions Geographic Expansion Investment into R&D, Marketing, and Technology Services Unified, Global SaaS Platform 22
Slide 24: BPZ820 Smart Oven Pizzaiolo
‒ BPZ820 Smart Oven® Pizzaiolo Joule Turbo Sous Vide 23
Slide 25: Food Processors Launched with the Instruction Book
Food Processors Launched with the “Instruction Book” Essential Caesar Essential Mayonnaise Dressing Essential Hash Brown _ Essential Bolognese Sauce Essential Soft Dinner _ Essential Horseradish Rolls Butter i Essential Blue Cheese Essential Red Wine 924 ee 1 Butter Butter eats . Se] Essential Guaca
Slide 26: Number of Roaster Partners
Number of Roaster Partners 49 20 ~20 23 25
Slide 27: Full Year Results FY24
BRGGROUP Breville Sage GLELIT BARATZA iiiChefsteps beanz.com Breville Group Limited (ASX : BRG) FULL YEAR RESULTS FY24 Investor Presentation 21st August 2024