Financial highlights: • Revenue of $254m for the half, up 23%, driven by growth in repeat and first-time customers • EBITDA of $7.5m for the half with an EBITDA margin of 2.9%, at the top end of full year guidance (1-3%) • Closing cash balance of $114m and no debt as at 31 December 2023 • Strong start to the second half with trading up 35% vs pcp2 (1st Jan to 11th Feb) • Business has crossed the 1m Active Customers milestone for the first time in Feb 2024 (unique customers in the last 12 months)
Temple & Webster CEO, Mark Coulter, said: “Temple & Webster delivered a record half, with revenue up 23% to $254m. This was in the face of some of the toughest headwinds to our category we have ever seen due to the current economic conditions. Pleasingly, our growth was driven by both first-time customers and repeat customers, which led to us crossing the 1 million Active Customer mark in February this year. This means that our amazing range, great value proposition and incredible service has resonated with 1 million Australians in the last 12 months.”
Congratulations TPW management on this result. A company delivering on its vision to grow the business into the number 1 on line furniture homewares player in Australia. $113 million in the bank. Debt free. With a plan to have $1B turnover in the next 3-5. Not sure if the market has already anticipated and factored this result into the rising prices before todays relese but today's trading will tell us quick enough!
TPW Price at posting:
$10.02 Sentiment: Hold Disclosure: Held
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