Slide 1: Preliminary Results for the 52 Weeks Ended 27 March 2021
PRELIMINARY RESULTS FOR THE 52 WEEKS ENDED 27 MARCH 2021 MULBERRY GROUP PLC – PRELIMINARY RESULTS FOR THE 52 WEEKS ENDED 27 MARCH 2021
Slide 2: Contents
PRELIMINARY RESULTS FOR THE 52 WEEKS ENDED 27 MARCH 2021 Contents Highlights 3 STR ATEGY OVERVIEW 13 Current Trading 4 Strategy — Our 4 Strategic Pillars 14 Strategic Pillar 1 — Omni-channel Distribution 15 FINANCIAL REVIEW 5 Strategic Pillar 2 — International Development 15 Revenue 6 Strategic Pill
Slide 3: Highlights
PRELIMINARY RESULTS FOR THE 52 WEEKS ENDED 27 MARCH 2021 Highlights FINANCIAL HIGHLIGHTS OPER ATING HIGHLIGHTS — Group revenue down 23% to £115.0m (2020: £149.3m) — Digital sales represented 49% of total revenue (2020: 24%), as primarily reflecting impact of COVID-19 and closure of customers migrate
Slide 4: Current Trading
PRELIMINARY RESULTS FOR THE 52 WEEKS ENDED 27 MARCH 2021 Current Trading CURRENT TR ADING FOR THE 16 WEEKS FROM 28 MARCH 2021 — Group revenue in the year to date is 45% ahead of last year, with retail revenue 30% ahead due to a strong recovery in the UK, and continuing growth in Asia, with China ret
Slide 5: Financial Review
PRELIMINARY RESULTS FOR THE 52 WEEKS ENDED 27 MARCH 2021 Financial Review
Slide 6: Revenue
PRELIMINARY RESULTS FOR THE 52 WEEKS ENDED 27 MARCH 2021 Revenue £ MILLION 2020/21 2019/20 % CHANGE — During the 52 weeks to 27 March 2021 our stores were subject to a number of national lockdowns. This materially affected our ability to DIGITAL 56.4 36.3 55% trade. STORES 43.6 89.1 -51% — The stren
Slide 7: International Revenue
PRELIMINARY RESULTS FOR THE 52 WEEKS ENDED 27 MARCH 2021 International Revenue INTERNATIONAL MIX (AS A PROPORTION OF GROUP REVENUE) In line with strategy, international revenue continues to grow as a proportion of overall Group revenue. — International retail sales increased 4% to £33.8m (2020: 2020
Slide 8: Digital Revenue
PRELIMINARY RESULTS FOR THE 52 WEEKS ENDED 27 MARCH 2021 Digital Revenue — The strength of our digital business helped to offset the impact £ MILLION 2020/21 2019/20 % CHANGE of the store closures throughout the period and to achieve overall sales for the period ahead of our initial expectations. UK
Slide 9: Group Income Statement
PRELIMINARY RESULTS FOR THE 52 WEEKS ENDED 27 MARCH 2021 Group Income Statement AUDITED AUDITED 52 WEEKS ENDED 52 WEEKS ENDED 27 MARCH 2021 28 MARCH 2020 £’000 £’000 £ MILLION UNDERLYING ADJUSTING ITEMS REPORTED UNDERLYING ADJUSTING ITEMS REPORTED REVENUE 115.0 - 115.0 149.3 - 149.3 GROSS PROFIT 73.
Slide 10: Group Balance Sheet
PRELIMINARY RESULTS FOR THE 52 WEEKS ENDED 27 MARCH 2021 Group Balance Sheet — Period end Group net cash increased to £11.8m (2020: £7.2m) AUDITED AUDITED 27 MARCH 2021 28 MARCH 2020 and deferred liabilities of £4.7m (2020: £3.0m). £ MILLION £’000 £’000 — Since the period end the Group has extended
Slide 11: Group Cash Flow
PRELIMINARY RESULTS FOR THE 52 WEEKS ENDED 27 MARCH 2021 Group Cash Flow — The net increase in cash and cash equivalents per the AUDITED AUDITED 52 WEEKS ENDED 52 WEEKS ENDED cashflow statement of £4.2m (2020: decrease of £4.6m) £ MILLION 27 MARCH 2021 28 MARCH 2020 reflected the cost actions taken
Slide 12: Capital Expenditure
PRELIMINARY RESULTS FOR THE 52 WEEKS ENDED 27 MARCH 2021 Capital Expenditure £ MILLION — Total capital expenditure in the period was £4.1m (2020: £6.4m) decreased most notably due to the reduction in store development during the COVID-19 pandemic. 14 — Continued investment in our systems and develop
Slide 13: Strategy Overview
PRELIMINARY RESULTS FOR THE 52 WEEKS ENDED 27 MARCH 2021 Strategy Overview
Slide 14: Strategy — Our 4 Strategic Pillars
PRELIMINARY RESULTS FOR THE 52 WEEKS ENDED 27 MARCH 2021 Strategy — Our 4 Strategic Pillars OUR AIM IS TO BUILD MULBERRY AS A SUSTAINABLE GLOBAL LUXURY BR AND THROUGH FOUR STR ATEGIC PILL ARS INTE ION RN B UT AT T RI IO IS N D A L L E D N EV N HA EL OP I-C ME OMN NT E CO CL NS CY TA FE N LI N T L
Slide 15: Strategic Pillars 1 and 2: Omni-channel Distribution, International Development
PRELIMINARY RESULTS FOR THE 52 WEEKS ENDED 27 MARCH 2021 Strategic Pillar 1 Strategic Pillar 2 — Omni-channel Distribution — International Development STR ATEGY: STR ATEGY: We aim to enhance our customers’ experience and drive engagement We are extending our digital channels and global store network
Slide 16: Strategic Pillars 3 and 4: Constant Innovation, Sustainable Lifecycle
PRELIMINARY RESULTS FOR THE 52 WEEKS ENDED 27 MARCH 2021 Strategic Pillar 3 Strategic Pillar 4 — Constant Innovation — Sustainable Lifecycle STR ATEGY: STR ATEGY: Innovate with new services, new materials and methods of creation Focused on developing Mulberry ‘families’ that are made-to- and product
Slide 17: Our aim is to build Mulberry as a sustainable global luxury brand
PRELIMINARY RESULTS FOR THE 52 WEEKS ENDED 27 MARCH 2021 Our aim is to build Mulberry as a sustainable global luxury brand through four strategic pillars. — Omni-channel distribution. — International development. — Constant innovation. — Sustainable lifecycle. Trading since the start of the current
Slide 18: Appendix
PRELIMINARY RESULTS FOR THE 52 WEEKS ENDED 27 MARCH 2021 Appendix
Slide 19: Store Detail
PRELIMINARY RESULTS FOR THE 52 WEEKS ENDED 27 MARCH 2021 Store Detail TOTAL CHANGES FROM TOTAL OWN STORES CONCESSIONS 26 MARCH 2021 28 MARCH 2020 28 MARCH 2020 UK 17 28 45 -9 54 EUROPE 5 0 5 -1 6 OWN STORES NORTH AMERICA 5 0 5 -2 7 ASIA PACIFIC 15 19 34 2 32 TOTAL OWN STORES 42 47 89 -10 99 EUROPE 6
Slide 20: Revenue by Product
PRELIMINARY RESULTS FOR THE 52 WEEKS ENDED 27 MARCH 2021 Revenue by Product INTERNATIONAL MIX (AS A PROPORTION OF GROUP REVENUE) 2020/21 2019/20 2018/19 19% 22% 25% 7% 7% 6% 74% 71% 69% BAGS ACCESSORIES, SMALL LEATHER GOODS & GIFTS OTHER 20
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