SHOWROOMPRIVE

FY 2022 Results Presentation

M a r c h 2 0 2 3

KEY BUSINESS

A CHALLENGING START OF THE YEAR AMID DETERIORATED MARKET ENVIRONMENT

  • Acquisition of The Bradery
    • Highly complementary clientele mix
    • Addition of a new vertical
    • Value creative for our shareholders
  • Reiteration of David Dayan's confidence in the business
    • Strengthening of his shareholding position in SRP's share capital
    • Acquisition by SRP Group of 4m shares to be allocated for existing and future free share plans
  • Team restructuring across all levels and divisions
    • Renewed and strengthened Comex since Q4 2022
    • Team strengthening in key segments (Marketplace, Travel & Ticketing, Beauté Privée)
  • ESG remains at the heart of Showroomprivé's DNA
    • ESG rating agencies ranked Showroomprivé with a continued improved rating
    • Rating well above peers and industry average
  • Strong resilience from our growth levers
    • Continued ramp up of our Ticketing& Travel segment
    • SRP Media builds on its strong momentum to further grow
    • The Marketplace continues to deliver in line with expectation

Challenging market conditions impacting all retail sector

  • Plummeting consumer confidence driven by macro and geopolitical environment and risk of stagflation
  • Continued supply chain disruption impacted COGS as suppliers increased prices

FY 2022 Financial Results

FOCUS ON MARKET SHARE AND CONNEXION

MARKET SHARE IN VALUE1

MONTHLY CONNECTING MEMBERS ON SHOWROOMPRIVE.COM2

70%

0%

60%

59.6% 59.3%

56.0% 57.2%

58.5% 56.3%

57.3%

57.3% 56.2% 56.1%

(5%)

53.5%

51.9%

(8%)

50%

(10%)

(11%)

(12%)

40%

(16%)

SRP Groupe

(15%)

(16%)

(17%)

(14%)

25.1%

(18%)

30%

(17%)

20.8%

22.0%

(20%)

(18%)

20.1%

19.0%

19.7% 19.1% 18.6%

(22%)

(19%)

18.1%

17.7%

20%

16.1% 16.4%

17.2%

(23%)

(24%)

8.2%

(24%)

(24%)

7.8%

8.5%

9.2%

(25%)(25%)

(25%)

10%

6.7%

10.0%

6.4%

5.8%

5.5%

5.9%

7.2%

6.4%

1.9%

(26%)

(27%)

2.8%

2.7%

2.3%

2.0%

2.2%

2.5%

2.9%

2.1%

1.9%

2.1%

2.0%4.6%

(30%)

0%

Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec

Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec

2022

2022

2022

2022

2022

2022

2022

2022

2022

2022

2022

2022

2022

2022

2022

2022

2022

2022

2022

2022

2022

2022

2022

2022

veepee

showroom prive

beaute privee

private sport shop

Market Average

SRP Audience

Veepee Audience

zalandoprive

bricoprive

bazarchic

thebradery

S O U R C E FOXINTELLIGENCE, SIMILARWEB

N O T E S

1 MARKET SHARE IN VOLUME OF ITEMS FROM 01/01/2022 TO 31/09/2022. IN FLASH SALES FRANCE. FOR TOTAL FRENCH MARKET (FOXINTELLIGENCE MEASURES ACTIVITY OF E-COMMERCE BUSINESSES BASED ON CONFIRMED PURCHASES) 2 FRENCH PERIMETER OVER JAN 2022 TO DEC 2022 ON FLASH SALES

KEY FINANCIAL HIGHLIGHTS

  • Group net revenues decreased by 9.2% to €657.4m in 2022 amid a very challenging environment
    • Strong decline over H1 2021 (-21.3%) as expected due to a very unfavourable comparison basis and stock shortages and lower activity amid macro and geo-political context
    • Slight rebound over H2 2021 thanks to rapid actions undertaken to protect revenue and profitability (pricing strategy, etc)
    • On a like-for-like basis (i.e. ex. The Bradery), decline of 11.4%
  • Rationalisation of brand portfolio to focus on largest brands
    • Decrease in the number of sales, but increase in Revenue per sales
    • Small and low revenue B-brands not renewed
    • Gradual move towards a brand prospection-dominant approach to a brand relationship-building approach as most major brands are signed
  • EBITDA of €19.5m impacted by lower activity, margin strategy, underutilisation of logistics centers and stock depreciation of €3m in Q3 2022
  • Decline in Revenue par buyer driven by a significantly lower number of orders despite the continuous increase in the average basket size (+7.0%)
    • Lower traffic, lower conversion rate and lower intention to buy contribute to lower number of orders

2019

2020

2021

2022

% Chg.

GMV*

851.1

962.6

992.6

932.6

6.0%

Net revenues (in m)**

615.6

697.5

723.8

657.4

(9.2)%

Total Internet rev . (in m)*

603.1

688.1

716.2

649.8

(9.3)%

o/w France

504.1

581.7

595.2

532.3

(10.6)%

o/w International

99.0

106.4

121.0

117.5

(2.9)%

EBITDA

(31.4)

42.0

48.2

19.5

n.m

% margin

n.m

6.0%

6.7%

3.0%

n.m

Net Results

(70.5)

13.9

27.3

0.3

n.m

% margin

n.m

2.0%

3.8%

n.m

n.m

Key KPIs - Ex. BP and TB

2019

2020

2021

2022

% Chg.

Buyers (in m)

3,162

3,322

3,252

2,968

(8.8)%

o/w France

2,533

2,693

2,625

2,358

(10.2)%

o/w International

629

629

627

609

(2.9)%

Revenue per buyer (€)

175.2

188.1

202.9

198.8

(2.0)%

Average Number of orders

4.23

4.25

4.21

3.86

(8.4)%

Average Basket size (€)

41.4

44.2

48.2

51.5

7.0%

Number of orders (in m)

13,368

14,132

13,703

11,448

(16.5)%

Cum. buyers (in m)

9,785

10,632

11,298

11,990

6.1%

N O T E S

  • Gross Merchandise Volume ("GMV") represent, all taxes included the total amount of transaction invoiced and therefore include gross internet sales including sales on the marketplace, other services and other revenues ** From now on, all physical clearance activities will be recognised under Other revenues

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Disclaimer

SRP Groupe SA published this content on 08 March 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 05 April 2023 16:00:08 UTC.