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H1 FY2022 RESULTS
PRESENTATION
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H1 FY2022 HIGHLIGHTS
INVESTOR PRESENTATION 2022 | 2 |
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H1 FY2022
FINANCIAL HIGHLIGHTS
Sales | > Total Sales up 2.8% to $127.1m (H1 FY2021 - $123.6m) | |||
- Total sales up 18.2% compared to H1 FY2020 (2 year growth) | ||||
- 28% of available in-store trading days (6,169 days) lost to | ||||
> | government imposed trading restrictions | |||
Online sales up 37.2% to $51.6m (2 year growth - 177.4%) | ||||
- Online sales represented 40.6% of total revenue | ||||
Earnings | > NPAT down 8.6% to $13.1m (H1 FY2021 - $14.3m) | |||
- NPAT up 76.4% vs H1 FY2020 (2 year growth) | ||||
> | ||||
No JobKeeper or Government wage subsidies received | ||||
> | Gross margin down 90bps to 43.8% compared to H1 FY2021 | |||
> | - Gross margin up 250bps compared to H1 FY2020 | |||
OPEX well controlled | ||||
> | EPS down 9.4% to 10.6cps (H1 FY2021 - 11.7 cps) | |||
> | - EPS up 74.5% vs H1 FY2020 (2 year growth) | |||
Cash EPS down 8.4% to 11.1 cps (FY2021 - 12.1 cps) | ||||
Balance | > Very strong financial position | |||
Sheet | > | Net cash of $36.3m at 31 Dec 21 (30 June 21 - $7.4m) | ||
> | Average stock on hand per store of c. $200k at 31 Dec 21 | |||
> | - Clean stock position | |||
Operating cash flow $42.7m (AASB 16) - consistent with prior | ||||
years, H2 FY2022 expected to have negative operating cash flow | ||||
due to supplier payments for XMAS stock purchases | ||||
Capital | > Interim dividend up 41% to 4.5 cents per share (fully franked) | |||
> Continuing omni-retail investments driving increase in active | ||||
> | customers and purchase frequency | |||
2 new store openings in H2 FY2022 (Claremont, WA & Hervey | ||||
> | Bay, QLD) | |||
2 full store refits in H2 FY2022 | ||||
INVESTOR PRESENTATION 2022 | 3 |
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OPERATIONAL HIGHLIGHTS
Customer | > Safe & hygienic environment maintained in all stores | ||
Service | > | Store teams have managed exceptionally well with service | |
metrics remaining at or near all time highs - average NPS of 88 | |||
for H1 FY2022 | |||
> Foot traffic strong on re-opening in NSW and VIC through | |||
Black Friday but negatively impacted by omicron in the lead up | |||
to XMAS and through Boxing Day | |||
Omni Retail | > Increased shipping options for online customers | ||
> | > More than 10% of online orders were for C&C in H1 | ||
Active online customers* up 48.7% to 650,000 - a new record | |||
> | Returning online (only) customers represented to 66.2% of H1 | ||
> | FY2022 total online customers | ||
Expanded brand offering to include: Therabody, Tidal Wave, | |||
American Crew; Tooletries | |||
New Stores | > Bunbury, WA opened in September 2021 | ||
> Claremont, WA to open in March 2022 | |||
> | Relocation of Perth CBD store to Piccadilly St in March 2022 | ||
> | Hervey Bay, QLD planned to open in May 2022 | ||
> | Several NZ greenfield opportunities under evaluation | ||
Fulfilment | > Over 370,000 online orders were fulfilled by the store network | ||
in H1 FY2022 | |||
> More than 96% of online orders picked and packed for dispatch |
within 24 hours of online order being placed
Team | > In-store teams have remained customer focused and resilient | |
> Health and safety measures implemented and followed | ||
consistently across store network | ||
> Successfully managed through multiple short-term store | ||
closures and lockdowns | ||
* Active customers are customers that have purchased online in the last 12 months. INVESTOR PRESENTATION 2022 | 4 |
Total Sales Growth Trend | |||
REVENUE DRIVERS | |||
SSG's strong multi-channel offering enabled online | 123.6 | ||
sales to significantly offset lower in-store sales caused | 127.1 | ||
only | |||
by Government mandated store closures in Q1 FY2022 | |||
> Total sales increased $3.5 million (or 2.8%) to $127.1m | 107.5 | ||
- Up 18.3% compared to H1 FY2020 | H1 FY20 | H1 FY21 | H1 FY22 |
> Online sales were the key positive driver - up $14.0 million or 37.2% | Key revenue drivers* ($Am) | ||
vs pcp (up 177.4% vs 2 years ago) |
> Temporary store closures associated with COVID-19 restrictions | 130.0 | |||||||||||||||||||||
resulted in $10.5 million reduction in in-store sales in H1 FY2022 | 125.0 | |||||||||||||||||||||
- NSW and VIC, our largest markets by sales and store numbers, | 1.9 | 2.5 | 0.9 | |||||||||||||||||||
0.2 | ||||||||||||||||||||||
use | were the hardest hit losing more than 5,200 in-store trading days | 120.0 | 14.0 | |||||||||||||||||||
(c.53% of available in-store trading days) | 10.5 | |||||||||||||||||||||
115.0 | ||||||||||||||||||||||
127.1 | ||||||||||||||||||||||
> LFL store sales were down $1.9m in the half with in-store foot traffic | 123.6 | |||||||||||||||||||||
materially down during our key Christmas and Boxing Day trading | ||||||||||||||||||||||
periods due to elevated COVID-19/omicron concerns | 110.0 | |||||||||||||||||||||
> Franchise buybacks (6 shops re-acquired in NSW in Feb'21) continued | 105.0 | |||||||||||||||||||||
to perform well in H1 FY22 (when open to customers) | ||||||||||||||||||||||
> Continuing to optimise store portfolio | 100.0 | |||||||||||||||||||||
- 1 new store added in H1 FY2022 (Bunbury) | ||||||||||||||||||||||
- 2 stores were permanently closed in H1 FY2021 (Plenty Valley, VIC | ||||||||||||||||||||||
and Belrose, NSW) | ||||||||||||||||||||||
- 2 new stores committed for H2 FY2022 | ||||||||||||||||||||||
ersonal | * Sales results for LFL stores, greenfields and buybacks for H1 FY2022 and H1 FY2021 have been | |||||||||||||||||||||
INVESTOR PRESENTATION 2022 | 5 | |||||||||||||||||||||
reclassified to Temporary/Permanently Closed stores during the periods they were closed to in-store | ||||||||||||||||||||||
customers so that the store classification is consistent across both periods. | ||||||||||||||||||||||
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Shaver Shop Group Ltd. published this content on 20 February 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 20 February 2022 21:50:00 UTC.