Shaver Shop Group (SSG) AGM Presentation 2024 summary

Company overview and business fundamentals

• Founded in 1986, operates 125 corporate-owned stores across Australia and New Zealand, with 23% of sales online in FY24.

• Holds a strong market position in DIY grooming and personal care, focusing on premium products and customer service.

• Maintains a conservative balance sheet with no debt and a $30m undrawn facility as of June 2024.

• Board and executive team have significant experience, with average executive tenure over 10 years.

• Key growth strategies include store network optimisation, range expansion, and strategic category management.

Financial and operational performance

• FY24 sales were $219m, down 2.3%, with net profit after tax of $15.1m.

• Operating cashflow increased by $1.9m to $34.1m.

• Online sales accounted for 23% of total sales in FY24.

• Fully franked dividends of 10.2 cents per share were paid, consistent with FY23.

• NPS score reached 89 out of 100, reflecting strong customer satisfaction.

Strategic initiatives and priorities

• Launched the new Transform U private brand, with products now in stores and positive early reception.

• Secured a 5-year exclusive distribution agreement for Skull Shaver, exceeding sales expectations year-to-date.

• Plans to launch new brands Silk'n and Epilady in November 2024.

• Ongoing store network optimisation through relocations, refits, and selective new openings.

• Focus on enhancing in-house education and maintaining strong social media engagement.