8 February 2024
Revolution Beauty Group
plc
("Revolution Beauty", the
"Group", or the "Company")
Capital Markets Event and
FY24 Trading Update
New leadership team outlines
strategy to accelerate profitable growth
and ambition to deliver
retail brand sales of £1 billion by 2030
Revolution Beauty (AIM: REVB), the
multi-channel mass beauty innovator, will today hold a Capital
Markets Event for institutional investors and sell-side analysts.
The Group is also providing a brief trading update for the 2024
financial year.
Capital Markets Event -
Reigniting the Revolution
Hosted by Lauren Brindley, CEO, Neil
Catto, CFO, Alison Hollingsworth, CMO and Stephen Vanoli, COO, the
event will outline management's plans to transform the business and
accelerate growth, with an ambition to drive annual retail brand
sales of £1 billion by 2030, establishing Revolution Beauty as a
top five mass beauty player globally.
The Group's "Reigniting the
Revolution" strategy is being implemented to deliver long-term
profitable growth in an attractive global beauty market, where
Revolution Beauty has significant headroom to expand. The strategy
is built on three key pillars:
· Driving the
Masterbrand: Focusing investment on
the REVOLUTION brand, leveraging its significant brand
equity;
· Powering core
categories: Significantly reducing
the Group's number of SKUs and concentrating on the development of
key products, whilst being first to market
with innovation; and
· Focussed global
growth: Managing distribution and
retail partnerships to maximise returns, with a particular focus on
gaining market share in the US.
This strategy is underpinned by
three enablers: Team
Revolution: building the most capable and motivated global
team; Smart Operations:
ensuring the best customer service, driven by effective inventory
management and supply chain optimisation; and Fuel the Revolution: self-funding
investments to drive growth through a profitable operating model,
efficient balance sheet and cash management, and cost savings
programmes. Management expects to deliver £10 million of cost
savings over the next three years, which will be used to invest in
future growth initiatives.
Trading
Update
At the time of its half year results
announcement in November 2023, Revolution Beauty expected to
deliver adjusted EBITDA of not less than double-digits and high
single digit revenue growth for the 2024 financial year.
As noted above, the Group has
accelerated the rationalisation of lower margin SKUs, successfully
driving margin improvement. As a result of this greater focus, FY24
adjusted EBITDA is now expected to be between £11 million and £12
million, and revenue growth is expected to be in the low single
digits.
The Group has also signed a 12-month
extension to its £32 million Revolving Credit Facility (RCF). The
RCF will now run until October 2025 on unchanged terms.
Lauren Brindley, Group Chief Executive Officer,
said:
"Revolution Beauty is a business
with unique capabilities, a loyal Gen Z customer base and
relationships with some of the world's best beauty retailers. The
strategy that we're setting out today is about harnessing our
strengths and taking the brand back to its roots. We want to build
on what we're best known for - our innovation, speed to market,
accessibility and inclusivity.
"By focusing on our Revolution
Masterbrand, building smarter operations, maintaining financial
discipline and energising our teams, we believe we will deliver
long-term profitable growth.
"We are confident we can achieve our
ambition to deliver annual retail brand sales of £1 billion by
2030, establishing Revolution Beauty as a top five mass beauty
brand globally."
A recording will be made available
on the Investor Relations section of the Group's website following
the event at: www.revolutionbeautyplc.com.
For further information please
contact:
Investor Relations
Lauren Brindley, CEO
Neil Catto, CFO
Investor.Relations@revolutionbeautyplc.com
Joint Corporate Brokers
Liberum (NOMAD): Edward Thomas /
Dru Danford / John More
Tel: +44 (0) 203 100 2222
Zeus: Nick Cowles / Jamie Peel /
Jordan Warburton
Tel: +44 (0) 161 831 1512
Media enquiries
Headland Consultancy: Matt Denham
/ Will Smith / Antonia Pollock
Tel: +44 (0)20 3805 4822
Revolutionbeauty@headlandconsultancy.com