Debenhams — FY2025 Earnings Presentation
27 slides from Debenhams's earnings presentation, Aug 27, 2025
Slide 1: FY25 Results
FY25 RESULTS FOR THE 12 MONTHS ENDED 28 FEBRUARY 2025 Dan Finley CEO | Phil Ellis CFO AUGUST 27 2025
Slide 2: Dan Finley, Group CEO
DAN FINLEY GROUP CEO
Slide 3: FY25 Year of Substantial Change
FY25 YEAR OF SUBSTANTIAL CHANGE BOARD RECOGNISED NEED FOR CHANGE APPOINTED AS CEO 1ST NOVEMBER FOCUS ON STABILISING THE BUSINESS
Slide 4: FY25 £41.6M Adjusted EBITDA
FY25 £41.6M ADJUSTED EBITDA ONLY POSSIBLE DUE TO AGGRESSIVE ACTIONS £50M ANNUALISED COST SAVINGS 50% REDUCTION IN BOTH STOCKHOLDING AND CAPEX
Slide 5: Standout Performance by the Debenhams Brand
STANDOUT PERFORMANCE BY THE DEBENHAMS BRAND £654M GMV +34% YOY £25M ADJUSTED EBITDA SUCCESSFUL MUTIYEAR TURNAROUND
Slide 6: Debenhams Turnaround Is the Blueprint for the Wider Group
DEBENHAMS TURNAROUND IS THE BLUEPRINT FOR THE WIDER GROUP CAPITAL LITE STOCK LITE COST LITE
Slide 7: Significantly Deleveraged
SIGNIFICANTLY DELEVERAGED SUCCESSFULLY OVERSUBSCRIBED EQUITY RAISE SALE OF NON CORE PROPERTY ASSETS GROSS BORROWING REDUCED BY £200M NET DEBT DOWN TO £78.2M POST YEAR END - NEW 3 YEAR FINANCE FACILITY SIGNED
Slide 8: Multi Year Turnaround
MULTI YEAR TURNAROUND DRIVING PROFITABILITY MAXIMISING SHAREHOLDER VALUE SUPERCHARGING THE DEBENHAMS BRAND TURNAROUND OF THE YOUTH FASHION BRANDS
Slide 9: Phil Ellis, Group CFO
PHIL ELLIS GROUP CFO
Slide 10: Phil Ellis background
APPOINTED GROUP CFO IN MARCH 2025 MANAGING DIRECTOR DEBENHAMS PAY+ PREVIOUSLY DEBENHAMS FINANCE DIRECTOR COMMERCIAL FINANCE DIRECTOR JD SPORTS HEAD OF COMMERCIAL FINANCE VERY GROUP
Slide 11: Key Financial Data
KEY FINANCIAL DATA 12 MONTHS TO END OF FEB (£M) FY25 FY24 CHG GMV performance driven by strong growth in Debenhams offset by weaker performance in GMV (pre returns) 1,606.8 1,632.5 (2)% youth brands GMV (post returns) 1,137.4 1,121.7 1% Revenue decline of 12% largely reflects the Revenue 790.3
Slide 12: FY25 GMV
FY25 GMV £M FY25 FY24 CHG Strong performance in the Debenhams brand, further demonstrating the success of the GMV (pre returns) 1,606.8 1,632.5 (2)% marketplace model Debenhams Brand 654.0 488.7 34% Strong growth in categories such as Beauty, Karen Millen 157.1 161.9 (3)% strengthening the
Slide 13: EBITDA Margin
EBITDA MARGIN 4.5% 3.2% -0.5% -1.9% 5.3% FY24 EBITDA % COST GROSS MARKETING FY25 EBITDA % INITIATIVES MARGIN EBITDA margin improvement was a direct result of successful cost savings initiatives focused on reducing our operating cost base. A significant reduction in distribution and admin expenses w
Slide 14: Cashflow Summary
CASHFLOW SUMMARY AS AT END OF FEBURARY 2025 (£M) FY25 FY24 Strategic initiatives including the sale of non-core Cash flows from operating activities (85.0) 1.1 assets and the November equity placing enabled Decrease in inventories 66.9 12.7 a £200M reduction in borrowings. At year end, net Movemen
Slide 15: Group KPIs
GROUP KPIs TWELVE MONTHS TO END OF FEB FY25 FY24 CHG The decline in active customer numbers and the number of orders is primarily driven by our Youth Active Customers (1) 11.4m 12.0m (5)% Brands, partially offset by Debenhams customer growth. Number of Orders (2) 30.3m 31.7m (4)% GMV per ac
Slide 16: Strategic Update
STRATEGIC UPDATE DAN FINLEY - GROUP CEO
Slide 17: We Are Debenhams Group
WE ARE Debenhams GROUP
Slide 18: Debenhams Group Transformation Underway
DEBENHAMS GROUP TRANSFORMATION UNDERWAY CREATING THE RIGHT OPERATING MODEL SUPERCHARGING THE DEBENHAMS BRAND PIVOT TO FASHION LED MARKETPLACE MODEL EXPLORING THE SALE OF PLT TO A STRATEGIC BUYER
Slide 19: Creating the Right Operating Model
CREATING THE RIGHT OPERATING MODEL LEAN RIGHT SIZED TECH ENABLED
Slide 20: Supercharge
SUPERCHARGE 15K+ BRANDS DEBENHAMS PAY+ GROW TAKE RATE
Slide 21: Pivot to a Fashion Led Marketplace Model
PIVOT TO A FASHION LED MARKETPLACE MODEL PROPRIETARY TECHNOLOGY EXPAND CUSTOMER CHOICE LEVERAGE CUSTOMER AUDIENCE
Slide 22: Outlook
OUTLOOK STRONG PROFITABLE GROWTH IN DEBENHAMS BRAND ALL BRANDS NOW TRADING PROFITABLY RIGHT SIZING YOUTH BRANDS - FOCUSING ON CASH GENERATION AND PROFITABILTY EXPECT H1 FY26 ADJUSTED EBITDA TO BE AHEAD OF LAST YEAR SIGNIFICANT MEDIUM-TERM OPPORTUNITY
Slide 23: Questions?
QUESTIONS? DAN FINLEY PHIL ELLIS GROUP CEO GROUP CFO
Slide 24: Appendices
APPENDICES
Slide 25: Definitions of GMV and adjusted measures
All merchandise sold to customers after cancellations and before returns, GMV PRE RETURNS including VAT,carriage receipts and premier subscription income All merchandise sold to customers after cancellations and returns, including VAT, GMV POST RETURNS carriagereceipts and premier subscription in
Slide 26: Thank You
THANK YOU
Slide 27: Disclaimer
DISCLAIMER Forward-looking statements speak only as at the date of this Presentation. Except as required by applicable law or regulation (including to meet the requirements of the AIM Rules, the Market Abuse Regulation as it forms part of domestic law in the United Kingdom by virtue of the European