Sosandar Plc · LSE:SOS
Sosandar — H1 FY2021 Earnings Presentation
14 slides from Sosandar's earnings presentation, December 2020
Slide 1: H1 FY2021 Results and Trading Update
Julie Lavington – Co-CEO and Co-Founder Steve Dilks – Finance Director H1 FY2021 Results and Trading Update 1
Slide 2: Disclaimer
DISCLAIMER 2 The contents of this presentation and the information which you are given at the time of the presentation have not been approved as a financial promotion by an authorised person within the meaning of the Financial Services and Markets Act 2000 (the “Act”). Reliance on this presentation
Slide 3: Highlights
Highlights 3
Slide 4: H1 FY2021 Highlights
4 H1 FY2021 Highlights • Revenue up 52% yoy to £4.3m • 63% improvement in EBITDA loss • 47% reduction in marketing spend - reaping benefit of large database of customers and prospects built up over prior 6 months • Keen understanding of customers’ changing needs • Range diversification – flexible an
Slide 5: Strong Autumn Trading
5 Strong Autumn Trading * • Successful and cost efficient investment in new customer acquisition • Exceeded record highs of 2019 with 49% reduction in marketing spend vs prior year • Huge efficiencies in acquisition from data driven learnings • Strong product - great success in investment categories
Slide 6: Financial Review
Financial Review rT’ fim | Re ws
Slide 7: Significant Reduction in H1 FY2021 Losses
7 Significant Reduction in H1 FY2021 Losses Income Statement H1 FY2021 H1 FY2020 £’000 £’000 • 63% reduction in EBITDA loss Revenue 4,284 2,819 • Prior year investment in customer Operational costs (2,043) (1,308) acquisition bearing fruit with a 52% Gross Profit 2,241 1,511 increase in revenue Gros
Slide 8: Strong Management of Cash – in excess of £4.0m end November
8 Strong Management of Cash – in excess of £4.0m end November Balance Sheet H1 FY2021 H1 FY2020 H2 FY2020 £’000 £’000 £’000 • November cash in excess of £4.0m (April £4.4m) Assets Intangible assets 192 175 198 with a strong focus on cash preservation whilst Right-of-use assets 80 155 117 reintroduci
Slide 9: Continued Repeat Order Growth and Return to Customer Acquisition in September
Continued Repeat Order Growth and 9 Return to Customer Acquisition in September 40,000 Repeat New 35,000 30,000 25,000 20,000 15,000 10,000 5,000 - Jul-17 Jul-18 Jul-19 Jul-20 Jun-17 Jun-18 Jun-19 Jun-20 Aug-17 Nov-16 Dec-16 Apr-17 May-17 Sep-17 Nov-17 Dec-17 Apr-18 May-18 Apr-20 May-20 Jan-17 Aug-1
Slide 10: New Customer Orders at Prior Year Levels Despite 49% Marketing Spend Reduction
New Customer Orders at Prior Year Levels Despite 10 49% Marketing Spend Reduction * Repeat Orders Acquisition By Month 2018 2019 2020 Total Marketing Spend New Customers • Continued repeat order growth through the first half benefiting from the increased database built up over the previous 12 months
Slide 11: H1 FY2021 Visits and Orders Substantially Ahead of Prior Year
11 H1 FY2021 Visits and Orders Substantially Ahead of Prior Year Web Visits Conversion 7,000,000 • H1 FY2021 saw significant growth in 4.00% 6,000,000 3.50% 3.00% visits and orders despite the impact 5,000,000 2.50% of Covid-19 reduced expenditure 4,000,000 3,000,000 2.00% • Conversion maintained co
Slide 12: Substantial Reduction in Costs Resulting in Improved Profitability
12 Substantial Reduction in Costs Resulting in Improved Profitability Costs by Type Costs as % of revenue Fulfilment Marketing Fulfilment Marketing Ops PLC Ops H2 FY2017 H1 FY2018 H2 FY2018 H1 FY2019 H2 FY2019 H1 FY2020 H2 FY2020 H1 FY2021 H2 FY2017 H1 FY2018 H2 FY2018 H1 FY2019 H2 FY2019 H1 FY2020
Slide 13: Outlook
Outlook 13
Slide 14: Outlook
14 Outlook • Short term uncertainties but confident of our ability to adapt • Revenue growth with continued improvement in profitability • Maintain focus on cash preservation • Flexible approach to customer acquisition • Continue to expand product range in all categories and adapt quickly to changin