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Global Markets now faltering and so share prices are coming down too. They're getting nervous about the US CPI figures and US growth figures out today.

It looks like the anti-tank weapons are helping Ukraine's fight against Vladimir Putin's invasion.

£125m EBITDA for year ending 2022
Air Freight Inflation was £60m
Multi Brand Platform Investment was £22m
New Brands Marketing was £11m

EBITDA would have been £218m without these extra costs.

https://www.boohooplc.com/sites/boohoo-corp/files/all-documents/result-centre/2022/boohoo-group-prelim-presentation-fy22.pdf

Check out page 28 for Boohoo potential EBITDA at £218m

All eyes on the US CPI, Consumer Price Index out today as many US analysts are saying inflation has hit its high.

Berenberg Bank have come out with a buy today on Boohoo and a target price of 140p.

• Significant scale in the UK with four locations
• Investment in further efficiencies through automation and scale through expansion
• Capacity in place to support over £4bn net sales from the UK
• US DC expected to go live in 2023, step-changing proposition

Please see page 12 of Boohoo Presentation

https://www.boohooplc.com/sites/boohoo-corp/files/all-documents/result-centre/2022/boohoo-group-prelim-presentation-fy22.pdf

The closing cash balance for the group was £101.3 million and the net cash balance £1.3 million. In March 2022, a new £325 million rolling capital facility was secured.

Capital expenditure of £261.5 million, funded using existing cash reserves, including freehold properties
and the expansion and automation of the distribution network

https://www.boohooplc.com/sites/boohoo-corp/files/all-documents/result-centre/2022/boohoo-group-prelim-fy22.pdf

¨ Investment case: In our view, Boohoo is emerging from the significant upheaval of the pandemic in a far stronger position versus two years ago. It has made significant and ongoing investment in its platform, brands, distribution, and people and now boasts a broader portfolio of 13 brands, targeting an addressable market of 500 million potential customers. It has established infrastructure capacity capable of supporting more than £4 billion of net sales, with automation investments driving future efficiencies and plans for its first international distribution centre underway, revolutionising its delivery proposition in the US. Numerous additional growth opportunities exist across its direct-to-consumer proposition, Debenhams and strategic wholesale partnerships with select partners globally. Performance in the UK offers a blueprint for the international growth opportunity that exists when transient pandemic cost headwinds abate.

¨ Valuation: At last nights close price Boohoo Group trades on FY22E EV/Sales of 0.5x falling to 0.4x, an EV/EBITDA of 9.2x falling to 6.9x and a PE of 33.2x falling to 20.8x. Near term growth and profitability is being impacted by cost inflation that we see as transitory in nature and likely to abate over the medium term as freight and logistics costs stabilise. Any improvement in cost headwinds in the current year presents upside potential to our forecasts.

¨ Financial performance: Boohoo Group plc (LON:BOO) revenue of £1,982.8m is +13.6% YOY and +41.3% versus FY20, representing significant market share gains versus global apparel markets that remain below pre-pandemic levels (UK: +27.3% versus market -3%, US +3.8% versus market -9%). The UK delivered a standout performance +27.3% YOY with strong growth across both established and new brands. Demand in international markets has been impacted by extended delivery times due to constrained airfreight capacity, a headwind that we see as transitory, and that will be in part resolved by the launch of the Group’s US distribution centre, expected to go live in summer 2023. Gross margin of 52.5% is 170bps lower YOY, a resilient performance in the face of £22m in additional inbound freight costs. EBITDA of £125.1m down 27.9% YOY, reflecting £38m in additional outbound carriage costs, as well as an increase in marketing investment to combat weaker consumer demand and investment in growing new brands. Capital investment of £261.5m provides infrastructure to support future growth, including freehold properties, and significant expansion of warehouse capacity and automation. A new £325m RCF provides significant cash facilities in addition to year end net cash of £1.3m following record levels of capital expenditure, investment in working capital due to extended supply chain lead times as well as investment in new brands.

¨ Strategic progress: Group KPIs have improved YOY, with customers shopping more frequently, and spending more with the Group. Boohoo has transformed its brand portfolio in recent years, extending its total addressable market to more than 500 million customers. This compares to current active customers of 19.9 million, representing the significant growth opportunity that remains.

¨ Outlook: Current guidance assumes pandemic-related external factors impacting performance in FY22 will persist across FY23. For FY23 management expect low-single digit percent revenue growth, and adjusted EBITDA margin in the range of 4% to 7%.

¨ Forecasts: Our revised forecasts reflect updated guidance. We also introduce FY24E forecasts set modestly to reflect current headwinds. See exhibit 4 for detail.

That should read directors talk with no spaces.

https://*************.net/boohoo-group-emerging-in-a-far-stronger-position-versus-two-years-ago-says-zeus

· Strong balance sheet with net cash of £1.3 million (2021: £276.0 million; 2020: £240.6 million). Operating cash flow of £10.3 million (2021: £201.1 million; 2020: £127.3 million). New £325 million RCF agreed in March 2022, underpinning the group's investment programme

Form RNS of 4 May 2022

Where does it state about an old RCF of £100m?

All Share Markets are up today hence why share prices are up too.

Boohoo have already set up in March 2022 a Revolving Credit Facility of £325m.

US Futures now up.

Share Markets like Share Prices are going up and down like Yo Yos.