Full Year 2024 Kogan.com Ltd Earnings Call Transcript
Key Points
- Kogan.com Ltd (ASX:KGN) achieved strong profitability with an adjusted EBITDA of $40 million for FY24.
- The company declared a final year dividend of $0.075 per ordinary share, totaling $0.15 per share for the financial year.
- Kogan FIRST loyalty program grew to over 0.5 million subscribers, while Mighty Ape PRIMATE grew by more than 35% during the year.
- The launch of the Kogan advertising platform generated $2.9 million in advertising revenue, indicating strong potential.
- The company maintained a solid balance sheet with $41.2 million in cash and zero debt.
- Top-line sales dipped due to a strategic focus on platform-based sales, impacting overall revenue.
- The retail environment in New Zealand remains challenging due to economic pressures and reduced consumer spending.
- Operational costs increased temporarily due to the setup of a new warehouse in Christchurch.
- Revenue from the products division was impacted by cycling a prior year of increased promotional activity.
- Kogan FIRST revenue showed a decline in the second half compared to the first half, indicating potential challenges in maintaining consistent growth.
(Operator Instructions) So please sit back. Enjoy this short video on the FY24 results presentation, and then we'll come back for some Q&A afterwards. Thank you.
(video starts)
Good morning and welcome to Kogan.com's FY24 Results Presentation. I'm Ruslan Kogan, the Founder and CEO of Kogan.com, and I'm joined today by David Shafer, Kogan.com's CFO and COO. Together, we're pleased to present the group's financial and operating results for the year. I'd first like to reflect on the journey that we've been on over the last few years. We faced challenges that we've all talked about (technical difficulty) the past 2.5 years have brought a wave of uncertainty that rippled through every aspect of our business. We faced unprecedented disruptions, strained supply chains, (technical difficulty) customer behavior, and in contrary, that turns from a great opportunity for a lingering (technical difficulty) predictability of the retail market in the context of
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