Cettire (CTT) AGM 2024 summary

Opening remarks and agenda

• Meeting opened with acknowledgment of traditional custodians, confirmation of quorum, and address by Founder & CEO on market fundamentals and strategy.

• Notice of Meeting was lodged with the ASX and taken as read.

• Directors, key executives, auditors, and share registry representatives were introduced.

• Voting conducted by poll, with instructions provided for participation and Q&A.

Financial performance review

• FY24 sales revenue increased by 78% to AUD 32.5 million Adjusted EBITDA and AUD 10.5 million Net Profit After Tax; Q1 FY25 gross revenue rose 18% to $198.1m, with sales revenue up 22% to $155.0m.

• Over 690,000 active customers at year-end, with 67% of gross revenue from repeat customers and average order value up 6% to $777.

• Achieved over one million annual orders and record customer adds in a quarter.

• Launched domestic China platform and maintained strong cash generation despite sector headwinds.

• The global personal luxury goods market is projected to reach $622bn by 2030, with the online segment expected to hit $196bn.

Board and executive committee updates

• Board composition reviewed, with John Gibney and Caroline Elliott joining as Non-Executive Directors.

• Board and Executive Search firm engaged to support recruitment.

• New directors bring expertise in finance, capital markets, and diverse industry experience.