Kathmandu announces FY20 Annual Results

Wednesday 23rd September 2020

Kathmandu Holdings Limited (ASX/NZX: KMD ) announced its results for the twelve months ended 31 July 2020 (FY20).

FY20 key highlights (vs FY19):

• Acceleration in online sales, with group online sales up 63% to $106.4 million, now comprising 15.7% of direct to consumer (“DTC”) sales1 - Rip Curl online sales up 52% to $25.5 million; 10.6% of DTC sales - Kathmandu online sales up 67% to $80.9 million; 18.5% of DTC sales

• Group sales up 48.7% to $801.5 million, including 9 months of Rip Curl - COVID-19 impact estimated at c. $135 million of sales ($80 million retail and $55 million wholesale)

• Statutory NPAT of $8.9 million includes $18.0 million of one-off transaction costs, $4.6 million of restructuring costs and a $2.6 million impact from the implementation of the IFRS 16 leasing standard (in total $22.6 million impact net of tax)

• Group Underlying EBITDA down 15.3% to $83.4 million (excluding the impact of IFRS 16 and one-off transaction and abnormal costs)

• Group Underlying NPAT down 44.5% to $31.5 million (excluding the impact of IFRS 16 and one-off transaction and abnormal costs)

• Operating cash flow up 50.9% to $93.1 million (adjusted for impacts of adopting IFRS 16)

• $207 million capital raise provided balance sheet strength and optionality for future growth, with closing net debt of $9.4 million

See links below for more details:

• Results Announcement

• Media Announcement

• Financial Statements and Independent Auditor's Report

• Investors Presentation

Source: Kathmandu Holdings Limited

Comments from our readers

No comments yet