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Now would be a good time to use the credit as most people at home watching tele all day long.
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Share Price:1.15
Bid:1.05
Ask:1.25
Change:0.32 (38.55%)
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Open: 0.85
High: 1.325
Low: 0.825
Yest. Close: 0.83
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Eve Sleep plc: Final Results
Tue, 24th Mar 2020 07:01
Eve Sleep plc (EVE)
Eve Sleep plc: Final Results
24-March-2020 / 07:00 GMT/BST
Dissemination of a Regulatory Announcement that contains inside information according to REGULATION (EU) No 596/2014 (MAR), transmitted by EQS Group.
The issuer is solely responsible for the content of this announcement.
eve Sleep plc ("eve" the "Company" or the "Group")
Full Year Results
Benefits of rebuild strategy increasingly evident, operationally profitable4 across last four months of 2019
eve, a direct-to-consumer sleep wellness brand operating in the UK, Ireland (together the "UK&I") and France, its "Core Markets", today issues its audited results for the year ended 31 December 2019 (the "Period").
Financial Highlights 1
2019 £m
2018 £m
Movement
Revenue 2
23.9
29.4
-19%
Gross profit 2
12.8
15.5
-18%
Gross profit margin 2
53.4%
52.7%
+70 bps
Marketing contribution 2,3,4
(2.6)
(5.8)
+£3.2m
Underlying EBITDA loss 5
(10.7)
(19.1)
+£8.5m
Statutory loss for the year
(12.1)
(20.1)
+£8.0m
Cash and cash equivalents 6
8.0
6.0
+£2.0m
Financial Highlights
Sharpened focus on profitable sales, with gross margin in Core Markets2 up 70bps;Planned reduction in revenue and focus on move to profitability resulted in improved underlying EBITDA loss, which reduced by 44% to £10.7m (2018: £19.1m loss);Reduced operating cash burn by 55%, with further cost savings made in Q4 such that the combined trading performance in the last four months of the financial year reached the milestone of marketing contribution breakeven4;Raised £11.7m net of expenses in new equity and £0.9m in advertising credits from Channel Four in February 2019.
Operational Highlights
50% increase in UK&I unprompted brand awareness from 10% in January 2019 to 15% in August 2019;Increased brand loyalty with the customer repeat rate in the UK&I up 230bps to 16.7% and up 360bps in France to 17.0%;eve's premium hybrid mattress, launched June 2019, announced as the top scoring mattress by Which? in December 2019, giving eve's full adult mattress range Which? Best Buy ratings;Extended ranges, with the contribution of non-mattress products in core markets up 230bps to 22.0%;Extended omni-channel reach with new retail partner