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Step One Clothing (STP) investor relations material

Step One Clothing AGM 2025 summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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AGM 2025 summary12 Nov, 2025

Opening remarks and agenda

  • Meeting opened with a quorum present and acknowledgment of traditional custodians, emphasizing sustainability and ethical practice.

  • Board members, executive team, and audit partner introduced; meeting held virtually.

  • Agenda included strategic highlights, CEO address, formal business, and Q&A.

Financial performance review

  • Revenue reached AUD 86.9 million, up 2.8%; net profit after tax was AUD 12.6 million, up 2%.

  • EBITDA was AUD 17.4 million, down 3.7%; cash and financial assets totaled AUD 33.1 million with no debt.

  • Gross margins impacted by increased promotional activity; average order values grew.

Strategic initiatives and plans

  • Four-pillar growth strategy: product innovation, customer acquisition, channel diversification, and international expansion.

  • Launched Cloud Mesh range and expanded women's segment, now 15% of sales.

  • Customer base grew 15% to 1,923,000; indirect sales channels up 53%, now 8.2% of revenue.

  • Partnerships with Amazon, John Lewis, and social commerce channels matured.

  • FY26 focus: operational reset, recalibrated promotional strategy, pricing, inventory management, and brand investment.

  • New product launches in FY26 include women's period product and sock range.

  • Strategic partnerships launched with the National Basketball League and Basketball Australia.

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Frequently asked questions

Step One Clothing Limited is an Australian-based apparel company specializing in designing, manufacturing, and selling men’s and women’s underwear. The company is known for its eco-friendly, comfortable underwear made from bamboo and organic materials. Step One operates primarily through an e-commerce model, delivering its products directly to consumers in Australia, the United Kingdom, and the United States. The company is headquartered in Sydney, New South Wales, and its shares are listed on the ASX.

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