Full Year 2024 Shaver Shop Group Ltd Earnings Call Transcript
Key Points
- Shaver Shop Group Ltd (ASX:SSG) has a strong balance sheet with net cash and no debt.
- The company has a high brand awareness in Australia, with unprompted brand awareness around 87%.
- Shaver Shop Group Ltd (ASX:SSG) has secured exclusive distribution rights for several high-demand brands like Skull Shaver, Epilady, Silk'n, and Oclean.
- The company continues to generate strong operating cash flow, which was $34.1 million in FY24.
- Shaver Shop Group Ltd (ASX:SSG) maintains a high Net Promoter Score (NPS) of 89, indicating strong customer satisfaction.
- Sales declined by 2.3% in FY24 to $219 million.
- Net profit decreased by 10.1% to $15.1 million.
- Customer foot traffic declined by 13%, impacting in-store sales.
- Operating expenses increased slightly, with the cost of doing business rising by 0.7%.
- The company faces challenges from high interest rates and cost of living pressures, affecting consumer spending.
Hi. Good morning, ladies and gentlemen, and thank you for joining us today. As always, please note the forward-looking statements slide at the end of the presentation.
In terms of our agenda today. I'll first walk you through a bit of Shaver Shop's history, our business, and what differentiates us in the market. We'll then move on to provide an overview of our FY24 results. I'll then hand over to Larry, who will take you through our financial results in a bit more detail before I speak to our FY25 priorities and our trading update.
We do have a bit to get through today, so let's get right into the main agenda items for today.
So let's start on slide 4, which provides a high-level snapshot of our business. Shaver Shop was founded back in 1986 as a men's shaver repair shop. And this is important to note because its service base ethos and focus on product knowledge remains core to our DNA today. Over time, we have developed a trusted and recognized brand in Australia with
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