Nick Scali Ltd (ASX:NCK)
A$ 17.11 -0.12 (-0.7%) Market Cap: 1.46 Bil Enterprise Value: 1.70 Bil PE Ratio: 21.31 PB Ratio: 5.26 GF Score: 89/100

Half Year 2025 Nick Scali Ltd Earnings Call Transcript

Feb 6, 2025 / 11:00 PM GMT
Release Date Price: A$16.29 (+1.75%)

Key Points

Positve
  • Nick Scali Ltd (ASX:NCK) reported a total revenue increase of 10.8% to 251.1 million.
  • The ANZ Group achieved a gross profit margin of 64.4%, despite higher freight rates.
  • Online sales orders for the ANZ group reached 18.6 million, marking a 17% increase.
  • The UK business, despite initial losses, is expected to achieve a gross profit margin of 57-59% once fully transitioned to Nick Scali products.
  • The company has a strong balance sheet with cash and bank deposits totaling 87.6 million and a net cash position of 15.9 million.
Negative
  • ANZ Group's revenue decreased by 1.8%, with written sales orders down 2.2%.
  • The UK segment reported a statutory loss after tax of 4.1 million, impacted by store refurbishments and product range transitions.
  • New Zealand trading conditions remain more challenging compared to Australia.
  • ANZ trading showed volatility with written sales orders down 8.5% in January.
  • The transition and refurbishment of UK stores are expected to cause further disruptions and short-term losses in the second half of FY25.


Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

NCK.AX - Nick Scali Ltd
Half Year 2025 Nick Scali Ltd Earnings Call
Feb 06, 2025 / 11:00PM GMT

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Presentation
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Unidentified_1 [1]
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Good morning and welcome to the Nick Scali investor presentation.

For the first half of 25, at the highlights.

Well, the ANZ Group revenue was 222.5 million, gross profit margin 64.4%. Underlying profit after tax of 36 million compared to the guidance of 30 to 33 million given that the October AGM statutory profit after tax was 34.1 million.

For the UK revenue was 28.6 million. The gross profit margin 45.1%. Underlying loss after tax of 2.8 million.

The application of the ASB 16 to the acquired UK property leases increased the UK loss after tax by 1.2 million over the period.

The adoption of ASB 16 has no cash impact. The statutory loss after tax is 4.1 million for the UK.

The group
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