Trading Statement & Notice of Results

Supreme PLC
18 October 2023
 

18 October 2023

 

Supreme plc

("Supreme," the "Company" or the "Group")

 

Trading Statement

and

Notice of Results & Investor Presentation

 

Strong trading across all divisions for H1 2024 and record revenue and profit growth for the Group

 

Supreme (AIM: SUP), a leading manufacturer, supplier, and brand owner of fast-moving consumer products, provides a trading update for the six months ended 30 September 2023 ("H1 2024" or the "Period").

 

The Board is delighted with the Group's performance across the Period, with trading in line with the Group's expectations1 for the year ending 31 March 2024, which were significantly upgraded on 26 September 2023 to revenue of around £195 - £205 million and Adjusted EBITDA 1 of approximately £28 - 30 to million.

 

The Group expects to report a record performance for the Period, with revenues in excess of £100 million (H1 2023: £67.6 million) and Adjusted EBITDA2 of no less than £15 million (H1 2023: £8.1 million).

 

The Elf distribution opportunity has exceeded initial expectations3 and contributed to around half of the reported revenue and gross profit growth in the Period. The remainder has come from the Group's four other categories that have, without exception, all reported strong revenue and gross profit growth.

 

Separately, the Group has today announced a series of proactive measures relating to the packaging, flavouring, recycling and point of sale checks within its vaping category, which management believes should be adopted across the sector.  A copy of the announcement is available at: https://investors.supreme.co.uk/regulatory-announcements/.

 

Notice of Results & Investor Presentation

 

Supreme will report its interim results for H1 2024 on Tuesday, 28 November 2023.

 

Management will be hosting a presentation for investors in relation to the Company's results on Tuesday, 28 November 2023 at 2pm BST.

 

·   The online presentation is open to all existing and potential shareholders.

·   Questions can be submitted during the presentation and will be addressed at the end.

·   To register for the event, please go to https://www.equitydevelopment.co.uk/news-and-events/supreme-investor-presentation-28november2023

 

The information contained within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulation (EU) No. 596/2014 which is part of UK law by virtue of the European Union (withdrawal) Act 2018. Upon the publication of this announcement, this inside information is now considered to be in the public domain.

 

1      Company compiled analyst Adjusted EBITDA2 consensus for the year ending 31 March 2024 prior to release of this announcement was £29 million.

2       Adjusted EBITDA means operating profit before depreciation, amortisation, share-based payments charge, fair value movements on non-hedge accounted derivatives and exceptional items.

3       Current guidance for the Elf opportunity is around £40 million of revenue and around £4 million of Adjusted EBITDA2.

 

Enquiries:

 

Supreme plc

Sandy Chadha, Chief Executive Officer

Suzanne Smith, Chief Finance Officer

 

via Vigo Consulting

Grant Thornton UK LLP (Nominated Adviser)

Samantha Harrison / Harrison Clarke / Samuel Littler

 

+44 (0)20 7383 5100

Berenberg (Broker)

Mark Whitmore / Marie Moy / Mara Grasso

 

+44 (0)20 3207 7800

Vigo Consulting (Financial Public Relations)

Jeremy Garcia / Kendall Hill

supreme@vigoconsulting.com

+44 (0)20 7390 0230

 

About Supreme

 

Supreme supplies products across five key categories; batteries, lighting, vaping, sports nutrition & wellness, and branded household consumer goods. 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.

 

investors.supreme.co.uk/

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Supreme (SUP)
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