Preliminary Q4 2024 Loungers PLC Earnings Call Transcript
Key Points
- Record revenue growth of 24.7%, reaching GBP353 million.
- Adjusted EBITDA increased by 29%, with a margin improvement from 12.1% to 12.5%.
- Opened a record 36 new sites during the year, with strong performance from these new locations.
- Like-for-like sales growth of 7.5% in FY24 and 5% in the first 11 weeks of FY25.
- Strong cash generation, with GBP47.1 million from operations and GBP35.4 million of free cash flow.
- Increased labor costs, impacting overall gross profit margin.
- Negative impact on like-for-like sales growth due to external factors such as football events and additional bank holidays.
- Energy costs increased by 30 basis points due to coming out of a post-COVID hedge.
- Central costs increased by 30 basis points, mainly due to higher bonus payments.
- Challenges in maintaining volume growth amidst price increases.
Good morning and welcome to the Loungers PLC investors presentation. (Operator Instructions)
Before we begin, I would like to submit the following poll and I would now like to hand you over to CEO, Nick Collins. Good morning to you.
Good morning, everyone. Thank you very much for joining us for our results presentation for the 53 weeks ending April 21, 2024. My name is Nick Collins, I'm the CEO and with me is Stephen our new CFO, and apologies for being slightly late as well.
I will just take you through an initial slide and then hand over to Steve, who's going -- to go through some more detail on the financial side. I think we fair to say that we're really pleased with our progress and believe these results set out another year of record growth and outperformance.
And this strong financial performance is consistent with the track record that we've demonstrated since our IPO five years ago, as we've seen record revenue of 24.7%, GBP353 million, adjusted
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