TIDMREVB
RNS Number : 5370K
Revolution Beauty Group PLC
06 May 2022
For Immediate Release 6th May 2022
REVOLUTION BEAUTY GROUP PLC
("Revolution Beauty", the "Group" or the "Company")
Full Year Trading Update
Full Year Performance in line with market expectations
Strong FY22 Sales up c. 42% and adjusted EBITDA up c. 73%
Record sales in Q4
Revolution Beauty Group plc (AIM: REVB), the global multi-brand,
multi-category mass beauty innovator, is pleased to announce an
update on trading for the year ended 28 February 2022.
Revolution Beauty has experienced continued positive momentum in
H2 2022. The Group reports, subject to audit, revenue of c.
GBP194mil up 42% versus 12mth ending Feb 2021, and Adjusted EBITDA
c. GBP22mil up 73% versus 12mth ending Feb 2021. This performance
was achieved against a background of inflationary pressures last
year, including freight and pandemic related volatility.
Revolution Beauty's performance was underpinned by the company's
geographic and category mix. Key highlights for the full year
include:
-- Record Q4: As indicated at our sales update in January,
Revolution benefited from a record fourth quarter with global
retailer expansions in Boots and Walgreens and ROW. Sales in the
second half were up c. 44% year on year.
-- UK Stores: In the UK, sales growth was strong, up c. 85% year
on year, supported by post pandemic footfall recovery amongst
retail partners, and a successful roll out of Makeup Revolution
into Boots.
-- US Stores: The USA is now Revolution's biggest single market
at c. 20% mix of our business, delivering sales growth of c. 27%
for the full year. This growth was achieved against a strong FY21
comparator, where Makeup Revolution was rolled out across Target
for the first time.
-- ROW Stores: The Rest of the World bounced back in FY22, with
strong sales in the year, up c. +79%. ROW is now c. 35% of
Revolution's global business.
-- DTC: Our digital first strategy saw us gather insights, and
"test and learn" new trends and products through the year, with
successes including Plex Haircare and Fragrance. We also sold
online over 100k units of our Christmas Advent Calendar across peak
trade and continued to see encouraging results across our localised
websites of the USA and Australia.
-- Balanced Model: Our omnichannel route to market continued to
balance the Revolution Beauty business model with growth across
both digital and retail distribution. Digital platforms generated
c.29% of sales with c.71% coming from retail stores in FY22.
Adam Minto, Group CEO, commented:
The Group delivered a strong full year performance, in line with
expectations, and driven by the strength of our omnichannel route
to market. We had a record fourth quarter in FY22 and saw strong
broad-based sales growth across categories and geographies with
revenue for the full year increasing by 42% against the previous
year. The US has become our biggest single market in terms of store
sales, while retail in the UK and the Rest of World continued to
bounce back to pre-pandemic levels.
The success of our "In Real Life" make-up range, our co-created
Sali Hughes skincare range, plus our successful launch this week
into 2800 Walgreen Stores across the US, all demonstrate continued
strong momentum into the first quarter of the year and give us real
confidence as we move forward.
In a world where consumers are feeling the pressure from
increased prices in almost every aspect of their lives, mass market
beauty is perfectly positioned as the affordable choice. Like
everyone, we remain mindful of the current economic climate, but we
know Revolution's mission to offer quality products at affordable
prices remains as relevant as ever. Looking ahead, Revolution
remains confident as it pursues its strategy and continues its
growth trajectory."
- Ends -
For further information:
Revolution Beauty Group plc
Adam Minto, Founder & CEO
Tom Allsworth, Founder & Executive www.revolutionbeautyplc.com
Chairman
Zeus
(Nominated Adviser & Broker)
Investment Banking
Nick Cowles / Jamie Peel / Jordan Tel: +44 (0) 161 831 1512
Warburton
Equity Capital Markets Tel: +44 (0) 20 3829 5000
Dominic King / Ben Robertson www.zeuscapital.co.uk
Media enquiries:
Headland Consultancy Tel: +44 (0)7872 350428
Rosh Field / Will Smith / Marta Parry-Jones Tel: +44 (0)7884 742400
Revolutionbeauty@headlandconsultancy.com
About Revolution Beauty
Revolution Beauty is a global mass beauty and personal care
business which operates a multi brand, multi category strategy and
sells its products both direct-to-consumer (DTC) via its e-commerce
operations, and in physical and digital retailers through wholesale
relationships.
Today, the Group has a retail footprint of c.15,000 doors across
leading retail chains in the UK, USA and other international
markets. Revolution Beauty has access to a wide customer base,
predominantly aged between 16 and 35, through its digital partners
and own DTC platform. It has established and invested to streamline
its supply chain with its own manufacturing facility in the UK, and
third-party warehousing facilities across the UK, USA and
Australia. The Group has offices in the UK, USA, New Zealand and
Germany. Revolution Beauty currently employs 411 people.
The total mass beauty market was worth $219bn in 2019 and is
expected to grow to $274bn over the next 3 years, driven by a new
marketing era dominated by Social Media and influencers. Revolution
Beauty has been a leading innovator building a significant global
following across social channels, enabling it to spot trends and
respond quickly to consumer demand.
Revolution Beauty strategy
Revolution Beauty Group is disrupting the traditional beauty
market through products that are more accessible to more people.
Through its digital-first strategy, Revolution Beauty brings
trend-led products to market faster than competitors. We invest in
innovative marketing strategies designed to appeal to a wider
audience, and offer products combining quality, inclusivity,
innovation and affordability.
- Ends -
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