Shaver Shop Group (SSG) H2 2025 earnings summary

Executive summary

• Market leader in personal care grooming retail in Australia and New Zealand, with 124 stores and a strong digital presence; 23% of sales from online channels.

• Achieved FY25 sales of $219.4m, down 0.4% year-over-year, with gross profit up 2.1% to $99.5m and record gross margin of 45.5%.

• Maintains a highly differentiated product range, including exclusive brands and a growing private label, TRANSFORM-U/Transform-UTM.

• Strong brand recognition, resilient business model, and experienced management team with an average tenure of nearly 12 years.

• Fully franked dividends rose to 10.3 cents per share, representing a 90% payout of reported NPAT.

Financial highlights

• FY25 total sales were $219.4m, flat year-over-year; gross profit margin reached a record 45.5%, up 110bps, with gross profit dollars up 2.1% to $99.5m.

• EBIT grew 2.4% to $22.5m; NPAT declined 1.3% to $14.9m.

• Operating cash flow was $23.6m; net cash at year-end was $3.9m, down from $13.3m due to increased inventory and supplier payment timing.

• Total FY25 dividends declared were 10.3cps, up 0.1cps from last year, representing a payout of about 90% of NPAT.

• EBITDA margin improved to 18.0% (from 17.4%); EBIT margin rose to 10.3%.

Outlook and guidance

• Early FY26 trading (first 7 weeks) showed total sales up 2.7% year-over-year, with in-store sales up 2.2%, online up 4.4%, and like-for-like sales up 1.5%.

• Focus remains on expanding TRANSFORM-U/Transform-UTM, securing new exclusive brands, and optimizing the store network.

• No formal sales or earnings guidance provided due to reliance on key promotional periods.