Slide 1: 1HY23 Financial Results
1HY23 Financial Results Robust performance and strong platform for further growth February 2023
Slide 2: Joyce Group
Joyce Group “Helping Australians add value to their greatest asset - the family home” KWB Group KWB Group’s trading brands, Kitchen Bedshed supplies quality bedding and Crave is Joyce Group’s newest brand and Connection and Wallspan, operate a network of bedroom furnishings across Australia and busi
Slide 3: Flow of economic interest into Joyce Group
Joyce Group Flow of economic interest into Joyce Group KWB Group 51% Majority Interest in Net Profit Attributable to JYC Shareholders 26 showrooms Established brands with High performing, high strong customer margin, capital light relationships businesses Franchise Operator Franchise Fee Income 37 S
Slide 4: Operating Results
(3 JoyceGroup Operating Results IHY23
Slide 5: Joyce Group 1HY23 Performance
Joyce Group 1HY23 Performance Overview $68.8M $6.8M o Robust operational and financial performance across the Group Revenue Group NPAT* o Revenue growth across all operating businesses o Operating business margins maintained or increased against pcp o Normalised NPAT to JYC shareholders $3.5 million
Slide 6: Results Overview: Key financial performance metrics
Results Overview Key financial performance metrics Results delivered against ($’000) 1HY23 1HY22 Variance backdrop of continued disruption and cost Revenue 68,800 61,546 7,254 11.8% pressures across labour market and supply chain Contribution Margin 32,473 29,057 3,416 11.8% Normalised* Total Group
Slide 7: Results Overview: Increasing returns to shareholders
Results Overview Increasing returns to shareholders Record interim dividend of 8 FY22 1HY23 1HY22 cents per share (fully Total franked) Dividend (cents per share) 8.0 7.5 18.0 NPAT to Joyce Shareholders ($’000) 3,538 3,734 9,086 Normalised* NPAT to Joyce Shareholders ($’000) 3,504 3,734 7,461 Normal
Slide 8: Results Overview: Key financial position metrics
Results Overview Key financial position metrics Strengthened balance sheet ($’000) Dec ‘22 Jun ‘22 Dec ‘21 and improved net cash position of $36.1m Group Cash 36,055 31,933 17,188 Debt - - - Net Cash 36,055 31,933 17,188 Operating cashflow of $6.6m (incl. lease payments Cashflow 1 Jul ‘22 to 31 Dec
Slide 9: KWB Group
KWB Group High Performance in Australia’s Home Renovation Market
Slide 10: KWB Group 1HY23 Snapshot
KWB Group 1HY23 Snapshot Wallspan o 4 x SA Showrooms Kitchen Connection o 12 x QLD Showrooms Clear leader in the residential “Do It For Me” Kitchen & o 10 x NSW Showrooms Wardrobe renovation market Unique value proposition delivering a positive, seamless and hassle-free design and installation exper
Slide 11: KWB Group 1HY23 operating performance
KWB Group 1HY23 operating performance ($’000) 1HY23 1HY22 Variance o Casula showroom opened in Sydney in Aug ‘22 o Primary focus on maximising performance from Segment Revenue 57,457 51,121 6,336 12.4% existing assets and maintaining high-quality customer experience and strong brand reputation Norma
Slide 12: Bedshed
Bedshed Delivering on Franchise Network Growth Ambitions
Slide 13: Bedshed Snapshot
Bedshed Company operations Snapshot o 2 x WA Stores o 2 x QLD Stores Franchise operations Well established Australian household name delivering o 12 x WA Stores o 8 x QLD Stores quality bedroom furnishings for over 40 years o 5 x NSW Stores o 12 x VIC Stores 41 store network predominantly run and ow
Slide 14: Bedshed 1HY23 operating performance
Bedshed 1HY23 operating performance ($’000) 1HY23 1HY22 Variance o Combined Operations Revenue up 9% on pcp Revenue Franchise operations 2,925 2,487 438 17.6% o Combined Operations EBIT up 15% on pcp Company-owned stores 8,418 7,938 480 6.0% o Two new Franchisees added to network: EBIT - Castle Hill
Slide 15: Crave
Crave Update on Perth Pilot Business
Slide 16: Crave Snapshot
Crave Snapshot o Home Staging business established as pilot in Perth o Soft-Launch in Sept ‘22 and ramp-up during remainder of 1HY23 and into 2HY23 o Consistent increase in market penetration and revenue since launch (continued into Q3 FY23) o $2.2 million in capital and operating start-up costs to
Slide 17: Future Growth
{3 JoyceGroup Future Growth FY23 7
Slide 18: Future Growth Initiatives
Future Growth Initiatives KWB Group o Program of Showroom upgrades o Targeting expanded Franchise o Establishing pilot and operating model o Further enhancements of wardrobe Network to: design and installation offering o Leveraging Five Star rating from Fran - Enhance and refine customer o Increasin
Slide 19: Corporate Directory
Corporate Directory Board of Directors Top 20 JYC Shareholders - 22 February 2023 Units % Units 1 ADAMIC PTY LTD 7,711,568 27.22 Jeremy Kirkwood Non-executive Director (Chair) 2 UFBA PTY LTD 1,770,000 6.25 Karen Gadsby Non-executive Director (Deputy Chair) 3 J P MORGAN NOMINEES AUSTRALIA PTY LIMITED
Slide 20: References
References This Presentation should be read in conjunction with the following documents lodged with the ASX on 28 February 2023 under the ASX ticker JYC: o Half-Year Financial Report - 31 December 2022, including accompanying Appendix 4D o Half-Year 2023 Results - Media Release o Appendix 2A: Divide
Slide 21: Appendix A - long term information
Appendix A - long term information KWB KWB Total Revenue and EBIT* ($m) and EBIT Margin Average HY Revenue per store ($ m) 70 2.5 12 20% 18% 60 10 2.0 16% 50 8 14% 1.5 12% 40 6 10% 30 1.0 8% 4 6% 20 0.5 2 4% 10 2% 0 0.0 0 0% 1HY 16 1HY 17 1HY 18 1HY 19 1HY 20 1HY 21 1HY 22 1HY 23 1HY 16 1HY 17 1HY 1
Slide 22: Appendix A - long term information
Appendix A - long term information Bedshed Bedshed Franchise Operations Segment EBIT ($’000) and EBIT Margin Revenue and EBIT ($’000) 3,500 1,600 4,000 30% 3,000 1,400 3,500 25% 1,200 3,000 2,500 20% 1,000 2,500 2,000 800 2,000 15% 1,500 600 1,500 10% 1,000 400 1,000 500 200 5% 500 0 0 0 0% 1HY 18 1
Slide 23: Appendix B: 1HY23 normalising adjustments
Appendix B: 1HY23 normalising adjustments NPAT Group attributable ($’000) EBITDA EBIT PBT Tax NPAT expenses to JYC s/holders HY23 Results per Financial Statements (19,451) 13,022 9,649 9,452 (1,638) 7,814 3,538 Crave business 756 756 859 859 177 1,036 1,036 Sale of KWB Property 294 294 294 294 (2,39
Slide 24: Appendix C: Prior period normalising adjustments
Appendix C: Prior period normalising adjustments NPAT attributable ($’000) EBITDA EBIT PBT Tax NPAT to JYC s/holders FY22 Full Year Results per Financial 32,208 26,703 26,250 (8,640) 17,610 9,086 Statements Crave business 448 448 448 (134) 314 314 Gain on revaluation of KWB Property (6,377) (6,377)
Slide 25: Disclaimer
Disclaimer Information contained in this presentation may involve forward looking statements, different future outcomes may have on JYC). and comments about the future including possible future performance estimates, estimated earnings, potential growth of the company or its industry or other No war