6 Months to 31st December 2021 - Executive Summary
ersonal use only
Revenue down 14.8% pcp, with Government mandated lock-downs impacting Australian and New Zealand sales and BBQ supply chain disruptions moving sales to 2nd half CY22.
International revenue continued to grow up 29.4% pcp, however timing differences relating to supply chain resulted in some revenue falling in to the second half. US revenue continued to grow by 115.0%.
Gross profit margin + 2.5% points pcp due to increased selling prices, which more than offset increased shipping and factory costs.
Strong balance sheet with $69.5M net assets, zero debt, cash of $7.2M. Shriro intends investigating deployment of this capital to fund its future strategic initiatives.
Business continuity plans and management planning assisted to ensure Shriro could work through the various COVID-19 operational challenges & the previously reported Cyber incident in July.
Staff have continued to work mostly from home, with the ongoing support of an Employee Assistance Program.
EBITDA decreased by $7.3M due to the revenue reduction and as the prior comparative period contained one-off property and government subsidy benefits.
Shriro Holdings -- Results Presentation - Page 2
6 Months to 31st December 2021 - Results
ersonal use only
REVENUE
EBITDA
NPAT
CASH POSITION
DIVIDEND
31 December 2021
CHANGE
31 December 2020
$95.9M
-14.8%
$112.6M
$14.5M
-33.5%
$21.8M
$8.2M
-37.6%
$13.5M
$7.2M
-59.1%
$17.6M
6 Cents
4 Cents
(Fully Franked)
(Fully Franked)
Shriro Holdings -- Results Presentation - Page 3
12 Months to 31st December 2021 - Results
31 December 2021*
CHANGE
31 December 2020
REVENUE
$190.2M
-0.6%
$191.3M
only
$26.8M
-17.0%
$32.3M
EBITDA
NPAT
$15.0M
-17.6%
$18.2M
use
$7.2M
-59.1%
$17.6M
CASH POSITION
ersonal
6 Cents
3 Cents
DIVIDEND DECLARED AUG
(Fully Franked)
(Fully Franked)
DIVIDEND DECLARED FEB
6 Cents
4 Cents
(Fully Franked)
(Fully Franked)
*Note: Reviewed only
Shriro Holdings -- Results Presentation - Page 4
6 Months to 31st December 2021 - Australasian Market
ersonal use only
Revenue was down 19.3% pcp as Shriro's portfolio of brands was negatively impacted by Australian and New Zealand retail lock-downs during July - September 2021.
The Everdure by Heston BBQ business continues to grow in both Australia and New Zealand, with revenue +26.2% pcp. Premium product quality / technology combined with the accelerated investment in consumer marketing continues to drive growth.
G-Shockwatch business rebounded strongly as stores reopened, with retailers reporting increased sell through supported by new ranges and higher ASP (Avg Sell Price).
The Appliance business also rebounded with stores re- opening, however this was offset by home building delays that are anticipated to improve in the 3rd Qtr.
Shriro Holdings -- Results Presentation - Page 5
This is an excerpt of the original content. To continue reading it, access the original document here.
Attachments
Original Link
Original Document
Permalink
Disclaimer
Shriro Holdings Ltd. published this content on 27 February 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 27 February 2022 22:41:01 UTC.
Shriro Holdings Limited is an Australia-based company, which is engaged in a consumer products marketing and distribution business operating in Australia and New Zealand. The Company markets and distributes an extensive range of Company-owned brands (including Everdure and Everdure by Heston Blumenthal, Robinhood and Omega Altise) and third party-owned brands (including Casio, Pioneer, Grohe and American Standard). The Companyâs segments include Australia, New Zealand and the Rest of the world. Its products include calculators, watches, musical instruments, audio products, kitchen Appliances, laundry, bathroom and sanitary products, consumer electronics, car audio, amplifiers, professional DJ, Hi-Fi/speakers, gas heaters & barbeques, pizza ovens, charcoal barbeques, electric heaters and cooling products. It has three Company-operated distribution centers and five third-party logistics (3PL) distribution centers. It also has over 1000 in-store displays in retail stores across Australia.
SHRIRO HOLDINGS LIMITED 
