Bow Street Group (BOW) investor relations material

Executive summary

• Like-for-like revenue grew 5.6% year-over-year, reflecting operational improvements, management actions, and targeted investments.

• Reported revenue declined to £14.4m from £15.1m (down 4.6%) due to estate rationalization, closures, and lost refurbishment days.

• EBITDA fell to £0.5m from £1.2m, and operating loss before highlighted items increased to £0.7m from £0.2m.

• Loss after tax narrowed significantly to £0.2m from £7.5m, aided by gains on disposals, lease credits, and absence of impairments.

• Net cash balance improved to £7.9m at period end, up from £2.4m, supporting ongoing investment and M&A activity.

Financial highlights

• Like-for-like revenue up 5.6% year-over-year; reported revenue down 4.6% to £14.4m due to closures.

• EBITDA at £0.5m (vs £1.2m prior year); operating loss before highlighted items at £0.7m.

• Loss after tax reduced to £0.2m from £7.5m, reflecting lower impairments and lease liability credits.

• Net cash (excluding lease liabilities) at £7.9m as of 28 June 2026.

• Gross profit margin at 28.7% (gross profit £4.1m on revenue £14.4m).

Outlook and guidance

• Refurbishment program to complete by spring 2027, with refurbished stores showing strong sales uplifts (up to 18.6% like-for-like in peak months).

• Like-for-like sales increased over 8.5% in the first 8 weeks of H2 2026.

• Targeting at least one or two acquisitions in the next six months, focusing on profitable, scalable brands.

• Continued focus on operational efficiency, technology integration, and estate optimization.

• Management remains confident in continued sales growth despite macroeconomic pressures.