24 April 2024
Supreme
plc
("Supreme" or the
"Company" or the
"Group")
Year End
Trading Update
- Record financial
performance, almost doubling Adjusted
EBITDA1 to at least £38 million
Supreme PLC (AIM: SUP), a leading manufacturer,
supplier, and brand owner of fast-moving consumer goods, is pleased
to provide a trading update for the twelve months
ended 31 March 2024 ("FY24" or the "Period"). Audited financial
results for the Period will be announced on Tuesday, 2 July 2024
("Final Results Announcement").
Supreme has delivered a record financial
performance in FY24, driven by organic revenue and profit growth
across all divisions. The Group has almost
doubled profitability year-on-year, has generated record levels of
cash and has ended the year debt-free2.
Supreme expects to report FY24 revenue of
around £225.0 million (FY23: £155.6 million) and Adjusted
EBITDA1 of at least £38.0 million (FY23: £19.4
million), in-line with current
market expectations3.
Supreme's continued investment in
rechargeable pod system vaping devices, coupled with the Company's
exceptional long-standing progress in developing a uniquely diverse
vape product mix, has ensured it is well positioned to adapt to
changes in the UK e-cigarette market.
Alongside an ongoing focus on
accelerating organic growth and strategic cross-selling, the
Company remains committed to exploring complementary acquisition
opportunities to further diversify and scale the
business.
The Group's Sports Nutrition & Wellness,
Lighting and Batteries divisions remain profitable and resilient,
and Supreme will provide further detail on the trading activity
across each of its divisions in its Final Results
Announcement.
The board remains confident of the Group's
future prospects.
1 Adjusted EBITDA means
operating profit before depreciation, amortisation and Adjusted
items
2Excludes IFRS16 debt
3Analyst consensus
immediately before this announcement for the year ending 31 March
2024 was revenue of £225 million and Adjusted EBITDA1 of
£38 million
Enquiries:
|
Supreme plc
Sandy Chadha, Chief Executive
Officer
Suzanne Smith, Chief Finance
Officer
|
via Vigo Consulting
|
|
Shore Capital (Nominated
Adviser and Joint Broker)
Mark Percy / David Coaten / Rachel
Goldstein - Corporate Advisory
Ben Canning - Corporate
Broking
|
+44 (0)20 7408 4090
|
|
Zeus (Joint
Broker)
Jordan Warburton / Alex
Campbell-Harris - Investment Banking
Benjamin Robertson - Corporate
Broking
|
+44 (0)161 831 1512
|
|
Vigo Consulting (Financial
Public Relations)
Jeremy Garcia / Kendall
Hill
supreme@vigoconsulting.com
|
+44 (0)20 7390 0230
|
About Supreme
Supreme supplies products across
five categories; Batteries, Lighting, Vaping, Sports Nutrition and
Wellness, and Branded Distribution. The Company's capabilities span
from product development and manufacturing through to its extensive
retail distribution network and direct to consumer capabilities.
This vertically integrated platform provides an excellent route to
market for well-known brands and products.
The Group has over 3,300 active
business accounts with retail customers who manage over 10,000
branded retail outlets. Customers include B&M, Home Bargains,
Poundland, Tesco, Sainsburys, Morrisons, Amazon, The Range,
Costcutter, Asda, Halfords, Iceland and HM Prison & Probation
Service.
In addition to distributing
globally-recognised brands such as Duracell, Energizer and
Panasonic, and supplying lighting products exclusively under the
Energizer, Eveready, Black & Decker and JCB licences across 45
countries, Supreme has also developed brands in-house, most notably
88Vape and has a growing footprint in Sports Nutrition and Wellness
via its principal brands Sci-MX and Battle Bites.
https://investors.supreme.co.uk/