Slide 1: Half Year Results 2024
_ Half Year Results 2024
Slide 2: Highlights
Highlights Kevin Lyons-Tarr, CEO Half Year Results 2024 1
Slide 3: Results Summary
Results Summary Revenue Operating profit Basic EPS $667.5m $69.9m 194.3c 5% 10% 10% Cash and bank deposits Interim Dividend $121.5m 80.0c 2023 FY: $104.5m 2023 HY: 65.0c 2023 HY: $74.5m Half Year Results 2024 2
Slide 4: Financial Review
Financial Review David Seekings, CFO Half Year Results 2024 3
Slide 5: Income Statement
Income Statement • Revenue +5% o US $654.7m; UK $12.8m o Revenue growth reflecting market conditions H1 2024 H1 2023 FY 2023 • Gross profit +11% $m $m $m o Favourable movement in gross profit margin Revenue 667.5 635.5 5% 1,326.5 o Carefully targeted price adjustments o Manageable supplier cost incr
Slide 6: Balance Sheet
Balance Sheet • Fixed asset additions include: H1 2024 H1 2023 FY 2023 o DC expansion - ~160,000 sq. ft. $m $m $m o Expanded solar array o Additional DTG, embroidery and screen-print Fixed assets 46.4 31.6 35.2 equipment Right-of-use assets 11.0 12.3 11.4 Goodwill 1.0 1.0 1.0 • Right-of-use assets/l
Slide 7: Cash Flow
Cash Flow H1 2024 H1 2023 FY 2023 $m $m $m At start of period 104.5 86.8 86.8 • Cash generative business model Operating profit 69.9 63.8 136.2 o Increasing operating profit Share option non-cash charges 0.9 0.5 1.1 o Efficient working capital profile Pension admin costs paid by the Plan - 0.5 0.5 o
Slide 8: Operational Review
Operational Review Kevin Lyons-Tarr, CEO Half Year Results 2024 7
Slide 9: Market
Market ASI Industry Sales North America 2004 - 2023 $bn • Industry revenue in H1 2024 essentially 28.0 flat vs H1 2023; $910m below H1 2019 25.8 25.8 26.1 26.0 24.7 23.6 24.0 22.9 23.2 • 4imprint’s share of total market in H1 21.5 22.0 2024 6.3% vs. 6.0% in 2023 and 3.4% in 22.0 20.5 20.7 19.6 19.8
Slide 10: Marketing Effectiveness
Marketing Effectiveness US and Canada Acquired and Retained % 60% 90,000 • Total marketing spend +13% at $87.4m 80,000 (H1 2023: $77.3m) 50% 70,000 • Revenue per marketing dollar KPI below 40% 60,000 H1 2023 but still well above pre- pandemic levels; decrease a reflection of 50,000 the soft market a
Slide 11: Operational Update
Operational Update Supply chain • As was the case during most of 2023 the supply chain has continued to function without significant disruption or trailing effects of the post-pandemic recovery period. Team • The significant investment in people in 2023, largely in customer service and production re
Slide 12: Operational Update (cont'd)
Operational Update (cont’d) Distribution centre expansion nearly complete • Project remains on time and on budget; completion anticipated September 2024. • As part of the project the solar array has been expanded to ensure the level of renewable energy generated on site doesn’t decrease as a result
Slide 13: Outlook
Outlook Based on our first half financial results and recent internal forecasts, the Board expects that 2024 full year Group revenue will reflect a growth rate similar to the first half of the year. As a result of improving financial dynamics in the business, particularly higher gross profit percent
Slide 14: Appendices
Appendices Half Year Results 2024 13
Slide 15: 2024 Full Year Financial Guidance
2024 Full Year Financial Guidance • Interim announcement 7 August 2024 o Revenue ~ +5% o Profit before tax ~ $150m • 2024 Capex: c$22.1m; includes $16.2m in respect of DC expansion • Depreciation charge (pre-IFRS 16): $5.3m • 2024 effective tax rate c.25% (2023: 25%) • Share-based payment (IFRS2) ch