Member Info for Craftyinvestor

I went to the THG AGM yesterday at THG Studios expecting to see a room full of angry shareholders. Instead, there were just two private shareholders in attendance - me and a guy called John.

It certainly made me question some of the lies and misinformation that gets spread repeatedly day after day in this forum.

After the AGM, I spent around 20 minutes talking with Matt Moulding. He answered every question I asked openly and without hesitation.

I won't be sharing the details of our conversation, as it was given to me in good faith. However, I would encourage any shareholder in any company to attend the AGM if they have genuine questions. There's simply no substitute for asking the Board directly rather than relying on rumours, speculation, or anonymous forum posts.

Whether you come away bullish or bearish, at least your opinion will be based on first-hand experience. I went into the AGM viewing THG as a strong buy. I left even more convinced.

Long-term holders, you have nothing to worry about. For those who own Ingenuity shares, very exciting times ahead, and for those shorting/trading THG be warned a seismic RNS can land at any time.

This will be my last post for a while. Having attended the AGM and spoken directly with management, I've got the answers I was looking for. My mind has been put at ease, my belief in my investment has only grown stronger, and now I'm happy to let the business do the talking.

Good luck, one and all :)

Retail sales beat expectations

https://uk.finance.yahoo.com/news/uk-retail-sales-beat-expectations-065737639.html

Yes am gonna be their OSG are you going?

Myprotein sees 21% order lift with AI shopping assistant

https://share.google/qQnlSlGmLupxA0rdR

Early pilot data from Myprotein shows delivery of an eight-times higher conversion rate (CVR) compared to Myprotein’s site average, leading to an average order value (AOV) uplift of 20.8%. Returning buyers also drove a 4.61% increase in CVR and a 9.6% AOV uplift. Beyond direct sales metrics, those involved claim that the solution also provides brands with valuable insights into customer behaviour, enabling more informed and personalised strategies across all channels, and identifying key areas for customer education

How much is HYROX worth?

No deal value has been disclosed. Sky News cites uncorroborated 2025 figures of around €140m revenue and €30m EBITDA. At a typical private equity multiple of 20 to 30 times EBITDA, that implies an estimated €700m to €1bn. Perhaps up to $1bn, factoring in growth.

How much is HYROX worth?

No deal value has been disclosed. Sky News cites uncorroborated 2025 figures of around €140m revenue and €30m EBITDA. At a typical private equity multiple of 20 to 30 times EBITDA, that implies an estimated €700m to €1bn. Perhaps up to $1bn, factoring in growth.

Nice :)

https://www.linkedin.com/posts/inside-food-drink-magazine_protein-drinks-have-been-a-growing-space-activity-7471098355696369665-mQSk?utm_source=share&utm_medium=member_android&rcm=ACoAADGjivYBi98_Kr0ghVvJn-kmg4bPEKZKahI

I'd use the £78m VAT repayment to reduce debt. Combine that with a share buyback programme and continued progress towards sustainable positive free cash flow, and you'd have a very compelling investment case. A stronger balance sheet, fewer shares in issue, and improving cash generation could be exactly the combination needed to finally get the share price moving in the right direction :)

Audio is from the Half-Year Results webcast, September 2024.

@rich they have never mentioned any ingenuity bid at any time, the narrative has always been share buybacks and eventually dividends.

Looking at the latest numbers, THG finished 2025 with £183m of cash and access to a further £150m credit facility, so a £50m buyback would certainly be affordable if the board decided it was the best use of capital. At the current share price, £50m could retire around 150 million shares, close to the AGM buyback authority limit.

Maybe I am being a bit bullish on a £50 million plan, but a £25 million starter buyback is easily achievable and would certainly upset the shorters :)

No need for Ingenuity money. They could use the VAT money to pay off debt and still have enough to run a share buyback programme.

A £50M buyback would retire roughly 154 million shares ( around 8-9% of the company) - the AGM authority allows purchases of up to 10%, so even a modest buyback could have a substantial impact.

How small is the free float, and how many shorts are involved in it? MM said 20%, I believe.

The more interesting bit for me is that THG is now a much simpler business after the Ingenuity demerger. If management believes Beauty and Nutrition are worth substantially more than the current market value, then a £50m buyback could arguably generate a better return than many other uses of capital.

Try this one: https://limewire.com/d/dOSQE#ejNmKo0gTO

Just a thought ahead of next week's AGM. THG is asking shareholders to approve both a 10% share buyback authority and a capital reduction that specifically references increasing distributable reserves and future shareholder returns. On their own, these are standard resolutions, but when combined with the Ingenuity demerger, a simplified group structure and management's long-held view that the shares are undervalued, it does make you wonder whether the groundwork is being laid for a buyback programme. If THG genuinely believes the current valuation doesn't reflect the underlying value of Beauty and Nutrition, buying back shares at these levels could prove to be an excellent use of capital and a strong signal of confidence in the company's future.

Interesting Audio: https://jumpshare.com/s/T1S1IPLlFOSO3oG1jTIG

100notout hindsight is a wonderful thing and I am sure MM and many of the larger shareholders are kicking themselves that they never sold THG in 2018 for the £4 billion that was offered. A price that was above the £5 a share at IPO.

The company is actually in much better shape now than it was back then and yet here we are 32p.

Happy to add at these prices as IMHO THG is grossly under valued

Pleasing to read that this has helped:

The GWP channel has delivered a significant impact on customer engagement and commercial performance. Over the past year, campaigns run through THG PLC owned LOOKFANTASTIC and Myprotein, have driven a 77 per cent increase in add-to-basket rates, a 67 per cent uplift in new brand partnerships, and a 1.1 percentage point improvement in conversion.

This performance has translated directly into stronger commercial returns, with CPA-driven revenue increasing by 6 per cent year on year, reinforcing the channel’s value as a scalable growth engine for brand partners.

THG Ingenuity has announced the official external launch of its Gift With Purchase (GWP) infrastructure that has been used by THG Plc’s two brands over the past year.

https://uk.fashionnetwork.com/news/Thg-ingenuity-extends-gwp-channel-to-external-brands,1813124.html

https://homeofdirectcommerce.com/news/thg-ingenuity-launches-high-performing-gwp-channel/

The company (which is separate to THG Plc but is primarily owned by the latter’s CEO and founder Matthew Moulding) said the channel has already proved successful through the Lookfantastic and Myprotein businesses and “allows brands to target consumers with gifting campaigns”.

THG: Sustained Price Leadership in Nutrition and Beauty Underpins Buy Rating

https://www.tipranks.com/news/ratings/thg-sustained-price-leadership-in-nutrition-and-beauty-underpins-buy-rating-ratings-news?utm_source=marketbeat.com&utm_medium=referral

Jefferies analyst Andrew Wade maintained a Buy rating on THG and set a price target of p60.00.

Https://kalkinemedia.com/uk/stocks/consumer/ftse-spotlight-market-confidence-reshapes-thg-narrative

Renewed confidence in UK-listed digital commerce reflects structural transformation, platform growth and long-term stability, shaping a more resilient future for British equities and the evolving market landscape.

The UK equity landscape is entering a phase of renewed confidence, driven by improving sentiment around leading listed businesses and stabilising investor outlooks across the retail and digital commerce space. Within this evolving environment, The Hut Group (LSE:THG) has emerged as a focal point for market attention, reflecting a broader shift in perception across British equities. This change in tone also aligns with wider developments across the FTSE ecosystem, as the UK market narrative gradually moves away from uncertainty towards stability, resilience and long-term confidence.

The renewed focus on UK-listed growth companies signals more than a single-company story. It reflects a wider structural transition across the domestic market, where digital platforms, consumer brands, logistics networks and technology-led retail models are reshaping traditional valuations. This renewed confidence is not isolated but forms part of a broader recalibration across the UK stock market, where long-term fundamentals are increasingly shaping sentiment.

Gggg spot on THG sp spiked up to 52p recently, so why would it go for 50p some nonsense posted on here. Stan 70p, that's a 90% increase from where we are now. WOW - a buy signal from Stan - this has to be a good day :)

Stan, you can add the Greencore partnership to that stitch-up list :)

Stan you mean Q4 hardly a stitch up :)

Summary of THG Q4 Earnings Call

THG Holdings PLC delivered a strong Q4 and ended 2025 with clear momentum, marking its first full year of revenue growth since 2021 despite a challenging macro backdrop.

Strong Return to Growth

* Q4 revenue grew 7%, driven by a very strong second half.

* H2 performance came in **14% ahead of the top end of guidance, highlighting improving execution.

* Growth was broad-based across core divisions.

Beauty Performing Exceptionally Well

* THG Beauty grew 6.4% in Q4, well ahead of expectations.

* Lookfantastic UK & Ireland delivered **16.2% growth**, supported by:

* Record customer retention

* Growing loyalty membership

* Higher spend per customer

* Management highlighted strong momentum in devices, apps, loyalty schemes and social-driven beauty trends (including TikTok influence).

Offline beauty is also proving successful:

* The first Lookfantastic store in Altrincham has traded significantly ahead of expectations.

* The store is profitable **and** delivering a measurable online “halo effect”.

* Additional stores are planned, using a disciplined, brand-partnered rollout strategy.

Nutrition Continues to Grow

* THG Nutrition grew 8.5% in Q4.

* Myprotein remains the world’s number one sports nutrition brand.

* Offline expansion continues, with new U.S. listings at major retailers including GNC and Kroger launching in H1 2026.

While whey prices remain elevated, management stressed:

* Global protein demand is at record levels

* Commodity cycles are temporary

* The long-term market opportunity has significantly expanded

High-margin categories such as activewear are growing strongly and are expected to exceed **15% of Myprotein revenue mix in 2026**.

Business Simplification Largely Complete

* Portfolio optimisation in beauty (exiting lower-return regions) is now largely annualised.

* Non-core asset disposals and operational streamlining are complete.

* This sets up **cleaner comparisons and improved efficiency** going into 2026.

Confident Outlook for 2026

Management repeatedly emphasized confidence in trading momentum:

* Expected **FY26 EBITDA around £100m**

* Forecast **£20–25m of free cash flow**

* Continued investment in marketing to support sustainable long-term growth

* Increased use of AI and personalization tools across beauty

CEO Matthew Moulding stated the group enters 2026 with significant momentum and a stronger, more focused operating model.

VAT Upside Optionality

* THG is awaiting the outcome of HMRC’s final appeal attempt.

* Potential VAT repayment has grown to approximately £55m.

* Management has taken a prudent approach, continuing to pay VAT while the case concludes.

* Any successful outcome would represent a material cash inflow for the group.

Crafty..nothing is being sold - Stan did the Clarmont deal not happen then?

Of course, they will sell another asset if the price is right, they have said as much