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24 Apr 2024 07:00
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/
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