Le Slip Francais (ALLSF) Investor presentation summary

Key financial performance and recovery

• Revenue grew from €3.6M in 2011 to €21.1M in 2025, with a strong digital growth of +17% in 2025 and EBITDA margin above 10%.

• Operating profit reached €1.3M in 2025, with €2.1M EBITDA and €4M cash generated between 2023 and 2025.

• Gross margin improved to 59% in 2025, driven by product mix optimization and cost control.

• Net financial debt reduced from €7.2M in 2023 to €3.5M in 2025, with €4.5M cash at year-end 2025.

• Free cash flow conversion ratio reached 70% in 2025, supporting further deleveraging.

Business model transformation and industrial integration

• Shifted from a fashion-gift model to an equipment-focused, scalable industrial platform.

• Average price halved from €40 to €20, tripling volumes and rationalizing the product range by 30%.

• Owns three production sites, including a semi-automated factory producing 60% of underwear needs.

• Integrated supply chain with 30 French partners ensures quality, agility, and cost competitiveness.

• Digital sales now represent 81% of revenue, with retail reduced to 9%.

Market position and growth potential

• 60% brand awareness and 850,000 unique clients since inception, with 42% repeat purchase rate.

• Fifth in top-of-mind awareness in the French underwear market, with a strategic price positioning.

• Addressable market for men's underwear in France exceeds €500M, with ambitions to double market share by 2030.

• Plans to expand into new product categories and B2B industrial services, targeting >€1B addressable market.

• Social and environmental impact includes 9.5M€ value added, 76 direct jobs, and 8,300 tCO2e avoided annually.