Lulu Retail Holdings Plc · ADX:LULU
Lulu Retail — Q2 2025 Earnings Presentation
19 slides from Lulu Retail's earnings presentation, August 2025
Slide 1: Q2 2025 Earnings Presentation
Q2 2025 Earnings Presentation August 2025
Slide 2: Table of contents
Table of contents 1. Business Overview 2. Q2’25 Results 3. Strategic Update 4. Q&A 1
Slide 3: Disclaimer
Disclaimer No statement in this document is intended to be nor may be construed as a profit forecast. Any statements made in this document which could be classed a “forward- looking” are based upon various assumptions, including, management’s examination of historical operating trends, data containe
Slide 4: Business Overview
1. Business Overview 3
Slide 5: Continued progress in Q2'25
Continued progress in Q2’25 Key Financials Q2’25 Retail Operations Retail Footprint Revenue Retail Footprint EBITDA Retail Footprint Retail Footprint Selling Area $2.0 bn $203.9 mn 256 stores 1.35 mn Sqm +4.6% YoY +7.6% YoY 29.7% Private label sales1 10.1% Margin +2 openings +9k sqm in Q2’25 5.6% E-
Slide 6: Q2'25 Results
2. Q2’25 Results 5
Slide 7: Revenue growth and operational discipline delivering results
Revenue growth and operational discipline delivering results Financial Performance Revenue Gross Profit EBITDA Q2'25 $2.0 bn 4.6% YoY Q2'25 $468.5 mn 6.5% YoY Q2'25 $203.9 mn 7.6% YoY H1'25 $4.1 bn 5.9% YoY H1'25 $933.0 mn 5.2% YoY H1'25 $418.1 mn 7.0% YoY Profit Before Tax Net Profit H1’25 Dividend
Slide 8: Revenue growth from LFL sales and new store openings
Revenue growth from LFL sales and new store openings Revenue ($ mn) Revenue ($ mn) YoY: 5.9% 44 37 8 2,017 1,928 YoY: 4.6% 4,098 3,868 176 2.1% LFL 160 growth 1,928 2,017 81 3,708 3,922 73 1,856 1,937 Q2'24 Q2'25 H1'24 H1'25 Revenue LFL sales New Store Wholesale Revenue Retail sales Wholesale and Ot
Slide 9: Largest market grew 9%...
Largest market grew 9%... Country UAE KSA Oman YoY: 9.4% YoY: 3.8% YoY: (1.0%) 696 761 368 382 297 294 Revenue ($ mn) Q2'24 Q2'25 Q2'24 Q2'25 Q2'24 Q2'25 YoY: 21.3% YoY: 4.3% YoY: 0.3% 72 88 Segment 23 32 32 22 Adjusted EBITDA ($ mn) Q2'24 Q2'25 Q2'24 Q2'25 Q2'24 Q2'25 8 Source: Company information.
Slide 10: …supported by growth in Kuwait
…supported by growth in Kuwait Country Qatar Kuwait Others1 YoY: 0.1% YoY: 4.9% YoY: 3.5% 277 277 173 181 117 121 Revenue ($ mn) Q2'24 Q2'25 Q2'24 Q2'25 Q2'24 Q2'25 YoY: 6.3% YoY: (6.8%) YoY: (12.9%) 35 37 28 26 Segment 19 17 Adjusted EBITDA ($ mn) Q2'24 Q2'25 Q2'24 Q2'25 Q2'24 Q2'25 9 Source: Compa
Slide 11: Growing margins from operational gearing and cost efficiencies
Growing margins from operational gearing and cost efficiencies Gross Profit ($ mn) EBITDA ($ mn) PBT ($ mn) Net Income ($ mn) Gross Margin (%) EBITDA Margin (%) PBT Margin (%) Net Income Margin (%) 22.8% 23.2% 9.8% 10.1% 3.3% 3.3% 2.9% 2.8% YoY: 6.5% YoY: 7.6% YoY: 4.5% YoY: 1.8% 440 468 190 204 63
Slide 12: Cash flow generation supported by EBITDA expansion
Cash flow generation supported by EBITDA expansion Capex ($ mn) Cash Flow ($ mn) Leverage ($ mn) Capex Cash flow Leverage Net debt ($ mn) 2,528 2,474 Capex as Cash 1.5% 1.3% 81.7% 86.2% % of Sales Conversion YoY: 13.4% 974 923 1,900 1,929 176 (346) (377) 58 155 54 25 22 Dec-24 Jun-25 Lease Liabiliti
Slide 13: Strategic Update
3. Strategic Update 12
Slide 14: Established growth levers to drive future performance
Established growth levers to drive future performance 01 02 Existing Store Growth New Store Rollouts 03 04 Operating Leverage and Further Upside Efficiencies 13 Source: Company information.
Slide 15: Strategic efforts supporting growth across our store portfolio
Strategic efforts supporting growth across our store portfolio ✓ Increasing categories on digital platforms to capture larger e-commerce share Revenue enhancement ✓ Launch of Quick Commerce ✓ Introduction of LOT store-in-store format to capture growing value market segment ✓ Store area optimization
Slide 16: New store rollouts on track for FY 2025 and medium term
New store rollouts on track for FY 2025 and medium term Medium term 7 stores opened ✓ On track to open 20 stores in FY 2025 in H1’25 +3 Hypermarkets, c.60 +4 Express store openings stores 20 Stores KSA (35% - 40%) Mix by UAE (30% - 35%) ✓ 4 stores ✓ c.33% country 7 Stores ✓ Lease signed Others (30%
Slide 17: Private label strategy to meet consumer preference and drive margins
Private label strategy to meet consumer preference and drive margins Private label E-commerce $575 mn $108 mn Sales in Q2 2025 E-commerce sales in Q2 2025 3.5% 43.4% 45.4% Sales growth YoY Sales Growth YoY Increase in customer count YoY Key Initiatives Key Initiatives ✓ Growing e-commerce enabled st
Slide 18: Summary
Summary YoY revenue growth of 5.9% and 4.6% in H1’25 and Q2’25 respectively Growing margins from operational gearing and cost efficiencies H1’25 dividend of US$ 98.4 mn; 3.5 fils per share 690k+ daily shoppers from 130+ nationalities Store rollout on track for 2025 and the medium-term 17 Source: Com
Slide 19: Q&A
4. Q&A 18