Slide 1: Financial Year 2023 Results
{e} JoyceGroup Financial Year 2023 Results August 2023
Slide 2: Joyce Group
Joyce Group “Helping Australians add value to their greatest asset - the family home” KWB Group kitchen connection #6 wallspan KWB Group's trading brands, Kitchen Connection and Wallspan, operate a network of 26 showrooms across Queensland, NSW, and South Australia. KWB is a clear leader in the Kitc
Slide 3: Flow of economic interest into Joyce Group
Joyce Group Flow of economic interest into Joyce Group KWB Group kitchen connection row despivation to lnstallation i wallspan kitchens & wardrobes 51% Majority Interest in Net Profit Attributable to JYC Shareholders 26 showrooms oo. Franchise Operator Bedshed No one’s better in the bedroom" Company
Slide 4: Operating Results FY23
{Qj JoyceGroup Operating Results FY23
Slide 5: Joyce Group FY23 Performance Overview
Joyce Group FY23 Performance Overview Improved operational and financial performance across the Group Revenue growth across all operating businesses Improved normalised operating unit EBIT margins against pcp Normalised NPAT to JYC shareholders $9.1M Record final dividend of 17.5 cents per share (fu
Slide 6: Results Overview
Results Overview [3 Key financial performance metrics Increased revenue and profitability delivered against labour market tightness, inflationary environment and weakened consumer sentiment Revenue 144,701 129,016 15,685 12% in 2° half of financial year Contribution Margin 68,700 66,252 2,448 4% Gro
Slide 7: Results Overview
Results Overview [3 Continuing track record of increasing returns to shareholders . Record final dividend of 17.5 Dividend (cents per share) 25.5 18.0 NPAT to Joyce Shareholders ($’000) 7,934 9,086 Record full year dividend of 25.5 cent: hi Full Normalised* NPAT to Joyce Shareholders ($000) 9,129 7,
Slide 8: Results Overview
Results Overview Cashflow 1 Jul ‘22 to 30 Jun ‘23 (SM) Opening Cash Operating Cashflow Lease Liabilities Tax and interest Capex Dividends Paid JYC Shareholders Dividends Paid KWB Minority Interests Property Sale Security deposit on leaseback Closing Cash $60 Operating Cashflow * $31.6M cash generate
Slide 9: KWB Group
(3 JoyceGroup nnection wallispan KWB Group
Slide 10: KWB Group Showroom Network
KWB Group Showroom Network 25 1 26 Casula Showroom (Metro Sydney) Program of renovation and opened August ‘22 refurbishment undertaken in FY23 - improved customer conversion rates and enhanced productivity Continued labour market Showroom improvement program tightness in NSW - expansion to continue
Slide 11: KWB Group Revenue and Orders
KWB Group Revenue and Orders o Continued strong demand with >4,300 kitchens and >2,600 wardrobes installed in FY23 o $110.7M orders generated during FY23 (net of ~S$13M of dated orders removed during the year) o $45M Order Book at 30 June ‘23 (representing orders to be delivered in FY24) o 13% growt
Slide 12: KWB Group Operating Performance
"3 KWB Group [a Operating Performance 5. Revord EBIT and operating maraine (000) vag aR Virco against backdrop of labour constraints Segment Revenue 123,387 107,957 15,430 14% and inflationary environment Normalised* Segment EBIT 25,320 19,211 6,109 32% o Operating EBIT of $25.3M (32% increase on FY
Slide 13: KWB Group Business model
KWB Group Business model Clear leader in the residential “Do It For Me” Kitchen & Wardrobe renovation market Unique value proposition delivering a positive, seamless and hassle-free design and installation experience Delivering an exceptional consumer experience that creates referrals (over 3,000 5-
Slide 14: Bedshed
(3 JoyceGroup
Slide 15: Bedshed Store Network
Bedshed fo Store Network 15 Franchised 35 2 37 Company 4 - 4 Ballarat Victoria store opened Castle Hill (Metro Sydney) August ‘22 opened December ‘22 Jindalee store (Brisbane) Strong relationship with opened August ‘23 and franchisees - {franchised store Toowoomba (SE QLD) up for resale in 10+ years
Slide 16: Bedshed Revenue
Bedshed Revenue ° 16 Franchise network business written sales up 7% on FY22 Like-for-like Combined Operations business written sales up 3% on FY22 Combined Operations revenue up 1% on FY22 Company-owned store revenue impacted by fit-out activity in Q4 but comparable to FY22 Ounnwrand FY18 Franchise
Slide 17: Bedshed Operating Performance
Bedshed [o Operating Performance against rising cost environment EBIT o Improved Combined Operations EBIT Margin of 23.4% Franchise operations 2,666 2,831 (165) (6)% 9 o Franchise Operations EBIT margin of 47% (network Company-owned stores 2,832 4938 304 20% support activity returning to pre-COVID l
Slide 18: Bedshed Omni-Channel Marketing
Bedshed Omni-Channel Marketing SLEEP TIP o Focus on enhancement of e-commerce platform, marketing automation and maximising integrated bricks and mortar stores and e-commerce capability Stop scrolling and let your mind rest o Further enhance e-commerce relationship with traditional customers and dev
Slide 19: Crave
(GQ JoyceGroup Crave Irresistible home staging. Crave
Slide 20: Crave Snapshot
Crave Snapshot fe} 20 Home Staging business soft-launched September ‘22 as Perth pilot Consistent increase in market penetration and revenue since launch although pace impacted by contraction in housing market in second half of FY23 Strong customer feedback - 100% of Google Reviews are 5-star (26 re
Slide 21: Future Growth
{Qj JoyceGroup Future Growth
Slide 22: Future Growth Initiatives
Future Growth Initiatives fai JoyceGroup Established brands that are synonymous with helping Australians add value to their greatest asset - the family home KWB Group ERitoreno, a Wallspan o Well positioned with sole focus on residential renovation in substantial national kitchen renovation market o
Slide 23: Corporate Directory
Corporate Directory ‘ ; 4.ADAMIC PTY LTD 77868 2758 Jeremy Kirkwood Non-executive Director (Chair) (2.UFBA PTY LTD 1,770,000, 6.23 Karen Gadsby Non-executive Director (Deputy Chair) 3. DANIEL SMETANA <THE D A SMETANA FAMILY A/C> 1,224,651 431 - 4. P MORGAN NOMINEES AUSTRALIA PTY LIMITED 1192503 420
Slide 24: References
References This Presentation should be read in conjunction with the following documents lodged with the ASX on 31 August ‘23 under the ASX ticker JYC: o FY23 - Annual Report, including Appendix 4E o FY23 - Results Announcement o Appendix 2A: Dividend/Distribution o Appendix 3C: Notification of buy-b
Slide 25: Appendix B: FY23 normalising adjustments
Appendix B: FY23 normalising adjustments FY23 Results per Financial Statements 31141 24,172 24,002 (7,625) 16,377 7,934 Crave Business* 1165 1,479 1,479 (389) 1,090 1,090 Sale of KWB Property 294 294 294 (88) 206 105 *The Crave pilot generated $0.5M of income during the financial year (S0.4M in the
Slide 26: Appendix C: FY22 normalising adjustments
Appendix C: FY22 normalising adjustments [a FY22 Results per Financial Statements 32,208 26,703 26,250 (8,640) 17,610 9,086 Crave Business 448 448 448 (134) 314 314 Gain on revaluation of KWB Property (6,377) (6,377) (6,377) 1,913 (4,464) (2,277) Tax on Howe Street Property 338 338 338
Slide 27: Disclaimer
Disclaimer fo Information contained in this presentation may involve forward looking statements, and comments about the future including possible future performance estimates, estimated earnings, potential growth of the company or its industry or other projections. Forward looking statements can gen