Slide 1: FY 2020 Annual Results
SHOWROOMPRIVE FY 2020 Annual Results
Slide 2: 1. 2020 Key Business Highlights
1. 2020 Key Business Highlights
Slide 3: Key Business Highlights: Performance Plan, Logistics, New Businesses
KEY BUSINESS FIRST RESULTS OF THE LOGISTICS SUCCESSFUL LAUNCH OF NEW 2018-2020 OPTIMISATION BUSINESSES PERFORMANCE PLAN • Streamlining of third party • SRP Studio in September 2020 logistic providers leveraging 15 years of knowledge of the • Dedicated prospection unit fashion world to bring new serv
Slide 4: Key Business Highlights: CSR, Member Engagement, Financial Structure
KEY BUSINESS CSR AT THE HEART OF SUSTAINED LEVEL OF STRONG AND HEALTHY SHOWROOMPRIVÉ’S DNA MEMBERS ENGAGEMENT FINANCIAL STRUCTURE • Launch of the Move Forward • Elected Best Customer • Record Revenue, EBITDA program Service of the year for the and Net income 2nd year in a row: a testimony of our • N
Slide 5: Key Takeaway on 2020 Starts Reaping Benefit of Performance Plan
KEY TAKEAWAY ON 2020 STARTS REAPING THE BENEFIT OF THE 2018-2020 PERFORMANCE PLAN As actions were taken over 2018 and 2019 to improve revenue generation profile and cost efficiencies, 2020 stands as the year Showroomprivé reaps the first benefits Rationalisation of the offering has led to a high
Slide 6: Key Takeaway on Strong Financial Recovery and Improved Guidance
KEY TAKEAWAY ON STRONG YEAR REFLECTED BY STRONG FINANCIAL RECOVERY AND IMPROVED GUIDANCE Strong revenue growth of 13% leading to a FY 2020 revenue of €697.5m +14.1% revenue growth y-o-y on SRP internet sales +28.8% revenue growth y-o-y on BeautéPrivée Strong performance across all segments b
Slide 7: Confirming the Performance Plan Applications Reaping Rewards
CONFIRMING THE 42 35 4 4 38 31 7 (11) (8) (12) (8) (23) H1 2019 H2 2019 H1 2020 H2 2020 FY 2020 Exceptional depreciation/reversal impact EBITDA THE 2018-2020 PERFORMANCE PLAN APPLICATIONS STARTING TO REAP THE REWARDS IN 2020 Commercial strategy focused on greater selectivity and accounts win 201
Slide 8: Strong Customer and Brand Recruitment and Consolidation of Loyal Base
STRONG CUSTOMER AND BRAND RECRUITMENT AND CONSOLIDATION OF A LOYAL BASE OF MEMBERS DESPITE COVID-19 A GROWING COMMUNITY… + 847K 74% €188 44 CUMULATIVE BUYERS Loyal buyers Average Revenue NPS (+26%) per Buyer (+9% y-o-y) (+7%) …. REMAINING LOYAL AND SATISFIED
Slide 9: Solid Brand Recruitment and Satisfaction
STRONG CUSTOMER AND BRAND SOLID BRAND RECRUITMENT AND SATISFACTION A GROWING COMMUNITY… 3 000 100% 22% 4% BRAND PARTNERS Average Revenue generated Revenue generated IN 2020 Revenue growth1 by Top 20 by Top 20 brands New brands Vs. 2 000 in 2019 …. REMAINING LOYAL AND SATISFIED NOTES 1 AVERAGE FOR TH
Slide 10: Growth Across Segments and Product Categories
GROWTH ACROSS A FASHION SPECIALIST LEVERAGING GROWTH IN OTHER SEGMENTS GROWTH BY PRODUCT CATEGORIES – BY GROSS PRODUCT SALES 23% Travel Ready-to-wear Beauty 15% 54% GROSS Shoes Home & decoration SALES 8% FROM FASHION Sport Fashion accessories Children FY 2020 Fashion Non Fashion Underwear While Fa
Slide 11: Focus on Market Share – Flash Sales in France, 2020
FOCUS ON MARKET SHARE – FLASH SALES IN FRANCE, 20201 70% 60.3% 60% 57.5% 55.7% 53.9% Veepee: -640bps 50% 40% 30% 26.2% 23.8% SRP: 20.3% 20.6% +590bps 20% 10.9% 11.6% 11.1% BP: 10.3% +20bps 10% 3.1% 4.0% 4.1% 3.1% +0bps 2.9% 3.4% 3.5% 2.9% 1.4% 1.3% 1.7% 1.6% +0bps +20bps 0% 1.2% 1.7% 1.0% 1.2% +0bps
Slide 12: 2020 Marked by Covid Effect
2020 MARKED BY COVID EFFECT COVID HAS HAD POSITIVE EFFECTS ON THE BUSINESS… … AND ITS BENEFITS ARE SET TO LAST IN THE LONG TERM Greater e-commerce dynamic E-commerce gained 3 years of penetration The successive confinement led to compulsory online 46% of new online buyers declare their inten
Slide 13: High Ability to Convert New Members into Buyers
HIGH ABILITY TO CONVERT NEW MEMBERS INTO A SIGNIFICANT SHARE OF FIRST-TIME BUYERS BUYERS REGARDLESS OF COVID-19 BECOME REPEAT BUYERS % CONVERSION OF MEMBERS SUBSCRIBED IN APRIL INTO BUYERS % CONVERSION OF FIRST TIME BUYERS IN APRIL INTO REPEAT BUYERS 40% 80% 35% 70% 30% 60% 25% 50% 20% 40% 15% 30% 1
Slide 14: 2. FY 2020 Financial Results
2. FY 2020 Financial Results
Slide 15: Key Financial Highlights
KEY FINANCIAL HIGHLIGHTS Group net revenues increased by 13.3% to €697.5m in 2020 FY 2019 FY 2020 % Variation confirming the recovery of the business Gross Merchandise Volume* 851.1 962.6 +13.1% Strong H2 2020 with record sales in November 2020 as a result of the Net revenues (in millions)** 615
Slide 16: Net Revenue Performance
NET REVENUE PERFORMANCE – Net Sales IFRS breakdown € million H2 2020 Net Revenue FY 2020 Net Revenue 25.9% 13.3% 697.5 615.6 9.4 394.8 4.8 (24.6%) 12.4 313.5 (45.0%) 8.8 15.4% 581.7 504.1 328.9 29.1% 254.8 99.0 7.5% 106.4 49.9 22.2% 61.0 FY 2019 FY 2020 H2 2019 H2 2020 International France Other Rev
Slide 17: Strong Revenue Growth by Quarter
STRONG REVENUE GROWTH Net sales IFRS – BY QUARTERS € million +24% +19% +30% (20%) 232.8 184.6 188.6 154.7 161.9 147.3 118.2 125.0 Q1 Q2 Q3 Q4 2019 2020
Slide 18: Focus on Customer
FOCUS ON CUSTOMER Average Revenue Per Buyer by Geography Active Buyers By Geography € € million 5.1% +7.4% 3.16 3.32 2.53 6.3% 2.69 Total 175 87 108 110 114 188 (0.1%) 0.63 0.63 193 180 FY 2019 FY 2020 168 155 Average Basket Size € million 110 112 111 114 96 102 6.7% 88 80 41.4 44.2 FY 2019 FY 2020
Slide 19: Strong EBITDA Recovery Over 2020
STRONG EBITDA RECOVERY OVER 2020 EBITDA IFRS € million H2 2020 EBITDA FY 2020 EBITDA n.m 8.9% n.m 6.0% 42.0 35.0 + €73.4m +€43.3m 40.1 33.1 1.9 1.9 (3.2) (6.9) (5.1) (8.3) (24.6) (31.4) H2 2019 H2 2020 FY 2019 FY 2020 International France
Slide 20: EBITDA Bridge 2019-2020
2019-2020 Strong improvement of EBITDA driven by: Primarily a stronger internet business volume thanks to the renewal and the premiumisation of our offer 2018-2020 performance plan actions on margins (core business, shipping, 1.9 etc.) (9.4) (4.4) 42.0 23.6 61.7 (31.4) EBITDA 2019 Gross Margin O
Slide 21: 2020 P&L
2020 P&L € millions FY 2019 FY 2020 % Growth 1 Net revenues driven by commercial efforts to sign in new 1 accounts and implement a greater selectivity in the offers Net Revenues 615.6 697.5 13.3% First exposure of firm sales Cost of Goods Sold (428.0) (424.5) (0.8%) 2 More premium offers and b
Slide 22: Cash Flow
CASH FLOW Net change in cash by semester Inventories position € millions € millions Driven by banking facilities renegotiations 31-Dec-2019 48.4 130.8 12.5 30-Jun-2020 46.4 69.3 49.0 31-Dec-2020 60.9 >80% of inventories are less than 12 months old FY 2019 H1 2020 H2 2020 FY 2020 2019 – 2020 Net cash
Slide 23: EBITDA to Net Change in Cash
EBITDA TO EBITDA to net change in cash € millions Record EBITDA from strong business activity EBITDA 42.0 Include €3.6m exceptional stock reversal Change in Working Capital 2.7 Stabilisation of the Working Capital Other (4.4) Cash Flow from Operations 40.3 Strong cash flow from operations Ca
Slide 24: 3. 2021 Outlook
3. 2021 Outlook
Slide 25: 2021 Priorities
2021 Build on the strong e-commerce momentum Further evolve our business model leveraging Showroomprivé 360 platform and development of new acquired over 2020 to continue to gain sales channels market share while maintaining strict Ramp up of Marketplace, SRP Studio and Travel segment as the sanit
Slide 26: Immense Market Opportunity
IMMENSE MARKET OPPORTUNITY SHOWROOMPRIVE WELL POSITIONNED TO BENEFIT LARGE MARKET FOR SHOWROOMPRIVE TO EVOLVE FROM THE INCREASED E-COMMERCE ACTIVITY Share (%) by Transaction rate and Traffic, France, as of April 26, 2020 Total French E-commerce >€110bn Transaction Traffic 150 100 Total Online Fashio
Slide 27: SRP Platform
SRP PLATFORM AS A AT THE SERVICE ENHANCING CUSTOMERS OF BRANDS EXPERIENCE • 360° Solution incentivising long term • Diversity of assortements partnership DELIVERING • Wide range of desirable Brands • Flash Sales SHAREHOLDER VALUE • Marketplace • High availability of assortments • SRP Media • Greater
Slide 28: Appendices
APPENDICES
Slide 29: Curated & Social Shopping Experience for Digital Women
Curated & social shopping experience for digital 01 women 6th e-commerce player & 2nd favorite for beauty 02 flash sales in France1 Leader in the beauty segment with beautéprivée, 03 our online beauty pure-player Mobile-first audience with 82% of mobile traffic 04 More than 3,000 established & up-an
Slide 30: Key Figures: Visits, Buyers, Items Sold, GMV
2.1M 10.6M 38M ~€963M AVERAGE DAILY CUMULATIVE BUYERS ITEMS SOLD TOTAL GMV 1 VISITS ANNUALLY 7 74% 83% COUNTRIES REPEAT BUYERS BRAND AWARENESS 2 S O U R C E S 2020 FILINGS, UNLESS SPECIFIED OTHERWISE NOTES 1 GROSS MERCHANDISE VOLUME (“VOLUME D’AFFAIRE OR GMV”) REPRESENT, ALL TAXES INCLUDED THE TOTAL
Slide 31: SRP's Growth Journey
SRP’S GROWTH JOURNEY 2018 – 2020: PERFORMANCE PLAN L au n c h o f 2 0 1 8 –2 0 2 0 p e r f o r m an c e p l an t o re f o c u s m o d e l o n p ro f i t a b l e s e g m e n t s Net CAGR Revenue R e c r u i t m e n t o f e x p e ri e n c e d s e n i o r m a n a g e m e n t t a l e n t ( n o t ab
Slide 32: Successful Implementation of Performance Plan
SUCCESSFUL IMPLEMENTATION OF SHOWROOMPRIVÉ IS REAPING THE REWARDS OF SUCCESSFULLY EXECUTING ITS PERFORMANCE PLAN, WITH HEALTHY GROWTH AND A RETURN TO SOLID PROFITABILITY REORGANISATION OF OUR REORGANISATION OF OUR IMPROVEMENT OF 1 2 3 o New commercial team organisation around o Recruitment of a new