Shaver Shop Group (SSG) H2 2025 earnings summary

Executive summary

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

• FY25 sales were $219.4 million, down 0.4% year-over-year, with in-store sales up 0.2% and online sales down 2.3%.

• Record gross profit margin of 45.5%, up 110 basis points, with gross profit up 2.1% to $99.5 million.

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

• Transform-UTM/TRANSFORM-U private brand launched in October 2024, exceeded expectations, contributed 3.4% of FY25 sales, and sold over 120,000 units.

Financial highlights

• Gross profit margin reached a record 45.5%, up 110bps; gross profit dollars increased 2.1% to $99.5 million.

• EBIT margin expanded 30bps to 10.3%; EBITDA margin improved to 18.0%.

• Net cash at year-end was $3.9 million, down from $13.3 million, mainly due to increased inventory and supplier payment timing.

• FY25 fully-franked dividend of 10.3cps, up 0.1cps from FY24, representing a 90% payout of NPAT.

• Like-for-like sales declined 0.1%; NPAT margin was 6.8%; basic EPS was 11.5 cents.

Outlook and guidance

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

• Gross margins remain above prior year, supported by private label and exclusive brands.

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

• No formal FY26 sales or profit guidance due to reliance on key trading periods.