Shaver Shop Group (SSG) H2 2024 earnings summary

Executive summary

• FY2024 sales declined 2.3% to AUD 219–219.4 million, with net profit after tax down 10.1% to AUD 15.1 million and basic EPS down 10.7% to 11.7cps, reflecting a challenging retail environment and lower foot traffic.

• Gross profit margin remained strong at 44.4%, near all-time highs, despite category mix changes and competitive pressures.

• Online sales accounted for 23% of total sales, performing better than in-store, with online sales flat at AUD 50.9–51 million.

• Store network stable at 123 stores across Australia and New Zealand, with ongoing investment in store refits and brand standards.

• High brand awareness (87%) and exclusive supplier partnerships drive differentiation and category leadership.

Financial highlights

• EBITDA declined 7.0% to AUD 38.1–38.2 million; EBIT fell 14.9% to AUD 21.9 million.

• Operating cash flow strong at AUD 34.1 million, up 5.8% year-over-year.

• Gross margin held at 44.4%, down 10 bps; net profit after tax AUD 15.1 million, down 10.1% year-over-year.

• Total dividends AUD 0.102 per share, payout ratio 88% of NPAT, fully franked.

• Net cash position of AUD 13.3 million at year-end; no debt drawn on AUD 29.5–30 million facility.

Outlook and guidance

• FY2025 priorities include maximizing new exclusive brands, launching private label TRANSFORM-U, and evolving store design.

• No formal sales or profit guidance due to reliance on key trading periods (Black Friday, Christmas, Boxing Day).

• Early FY2025 sales flat year-to-date (-0.8%), with August showing a return to growth in core categories and gross margins in line with prior year.