Cettire (CTT) Trading Update summary

Trading performance and market environment

• Sales revenue reached $693.8 million YTD FY25, up 1.7% from the prior year, despite global luxury market challenges and US tariff policy changes.

• Gross revenue grew 2.2% to $920.1 million, with average order value rising 2.7% to $825.

• Active customers declined 1.3% to 671,328, but gross revenue from repeat customers increased by 7 percentage points to 68%.

• Delivered margin remained around 16% due to heightened promotional activity and higher fulfilment costs.

• Adjusted EBITDA was $0.5 million YTD, impacted by a $2 million FX loss during April-May.

Strategic focus and operational updates

• Focus remains on geographic revenue diversification, with recent launches in Kuwait and Bahrain.

• Emerging Markets showed more stable performance, partially offsetting weaker demand in Established Markets, especially the US.

• Plans to improve delivered margin through reduced promotional intensity and fulfilment cost efficiencies.

• Net cash balance stood at approximately $45 million at period end.

• Strategy centers on profitable, self-funded growth, with immediate focus on improving profitability amid market volatility.