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Half Year ended 28 December 2025 Half Year FY2026 Results For personal use only
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Accent Group H1 FY2026 Results Presentation Contents Operational highlights H1 FY26 sales and profit H1 FY26 summary of financial performance Operational update Dividends and trading update Appendix 3 4 5 6 12 14 2 For personal use only
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Accent Group H1 FY2026 Results Presentation Operational highlights 1. Financial results for the 26 weeks ended 28 Dec 2025, are presented on a statutory post AASB 16 basis unless otherwise noted. First store at Fountain Gate opened November 2025 Sports Direct $67 million c.8% of total sales with improving margins YoY Vertical Sales $91 million +9.4% on H1 FY25 Wholesale Sales 898 stores across Australia & New Zealand with 27 new stores opened during H1 FY26 Store Network $865 million1 +2.4% on H1 FY25 Total Sales (inc. Franchisees) $719 million +5.2% on H1 FY25 Retail Sales Melbourne flagship store opened December 2025 Lacoste 3 For personal use only
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Accent Group H1 FY2026 Results Presentation H1 FY26 sales and profit $’000’s H1 FY261 H1 FY25 % Change Total Sales 865,184 844,646 2.4% EBITDA 156,040 158,329 (1.4%) EBIT2 56,500 80,653 (29.9%) EBIT from Continuing Business3 72,706 PBT 40,892 66,579 (38.6%) NPAT 28,087 47,184 (40.5%) Interim Dividend 3.25 cents 5.5 cents 3 Key Metrics 1. Financial results for the 26 weeks ended 28 December 2025, are presented on a statutory post AASB 16 basis unless otherwise note d. 2. H1 FY26 includes a $16.2M negative impact from $9.7M of non -recurring trading losses and $6.5M provisions relating to the closin g MySale and Glue businesses. H1 FY25 included $3.3 million net benefit of non -recurring items. 3. EBIT (management estimated) from continuing business excludes the OzSale and Glue businesses. 4 For personal use only
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Accent Group H1 FY2026 Results Presentation H1 FY26 summary of financial performance Profit & Loss ($000's) H1 FY261 H1 FY25 % Change Pro Forma3 H1 FY26 Sales (ex Franchisees) 810,521 766,960 5.7% 773,726 Gross profit 429,427 426,491 Gross margin (%) 53.0% 55.6% (263bps) 54.3% CODB – excl. lease depreciation & interest (279,853) (277,165) CODB % – excl. lease depreciation & interest 34.5% 36.1% (161bps) CODB % 44.3% 44.7% (43bps) 44.1% Other income – inc. royalties and franchise fees 6,466 9,003 EBITDA 156,040 158,329 (1.4%) 164,416 Depreciation on leases (69,058) (57,310) Depreciation & amortisation (30,482) (20,366) EBIT4 56,500 80,653 (29.9%) 72,706 Net finance costs on lease liabilities (9,882) (8,365) Net interest (paid) / received (5,726) (5,709) PBT 40,892 66,579 (38.6%) Tax (12,805) (19,395) Net Profit After Tax 28,087 47,184 (40.5%) Operating HighlightsFinancial Summary— H1 FY26 Vs H1 FY25 Sales • Total company sales of $810.5 million up 5.7% on prior year • LFL retail sales up 0.9%2 • Wholesale sales up 9.4% Gross Margin • Continuing Business Gross Margin % for the half was 54.3%3. • Gross Margin % was impacted by the promotional environment and the year-on-year decline in the AUD/USD exchange rate, with management estimating a H1 FY26 impact of approximately - 80bp (-0.8%) compared to H1 FY25. CODB • CODB was well managed with efficiencies in store lease renewal negotiations, store team costs and marketing spend offsetting continued inflationary cost pressures in rents and store team wage rates. Disciplined cost management remains a key focus for the Group. NPAT • NPAT of $28.1 million 5 1. Financial results for the 26 weeks ended 28 December 2025, are presented on a statutory post AASB 16 basis unless otherwise note d. 2. Like-for-Like (“LFL”) sales include TAF Franchisee sales, measurement is based on the year -on-year sales comparison for all stor es in which a sale has been recorded on the same day in the prior year. 3. Management estimate H1 FY26 Proforma of Continuing Businesses – excludes the OzSale and Glue businesses. 4. H1 FY26 includes a $16.2M negative impact from $9.7M of non -recurring trading losses and $6.5M provisions relating to the closur e of the OzSale and Glue businesses. H1 FY25 included $3.3 million net benefit of non -recurring items. For personal use only
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Operational update For personal use only
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Accent Group H1 FY2026 Results Presentation $683.5 $719.3 H1 FY25 H1 FY26 Sales (millions) Retail • Retail sales up +5.2% on H1 FY25. • LFL retail sales up +0.9%. • Strong retail performance across TAF, Hoka, Platypus and Nude Lucy. Stores • 27 new stores added to the store network in H1 FY26 including the launch of Sports Direct and Lacoste. • Ongoing efficiency and strategic reviews resulted in the closure of 21 stores, including 12 loss- making Glue and Vans stores. Retail Owned Sales & Store Network Store Network1 7 1. Includes store closures and websites. For a breakdown by banner refer to page 15 Retail Owned Sales (Millions) 762 821 895 892 898 FY22 FY23 FY24 FY25 H1 FY26 +5.2% For personal use only
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Accent Group H1 FY2026 Results Presentation $83.4 $91.3 H1 FY25 H1 FY26 Sales (millions) Vertical Owned Brands • Sales of $67 million (+1.5% on H1 FY25). • Sales above H1 FY25, with a c.200bps improvement in gross margin. Wholesale • Wholesale sales up +9.4% on H1 FY25. • Strong overall performance, particularly across Hoka and Ugg, with the recent addition of Lacoste showing early positive momentum. Vertical Owned Brands & Wholesale Sales Vertical Owned Brands Sales (Millions) $30m $54m $61m $66m $67m H1 FY22 H1 FY23 H1 FY24 H1 FY25 H1 FY26 Sales (Millions) Wholesale Sales (Millions) 8 +9.4% For personal use only
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Accent Group H1 FY2026 Results Presentation Growth plan 8 ➢ Continues to grow in all channels, particularly digital, with the launch of its new website on 29th October 2025. ➢ 1 new HOKA store was opened in H1 with a further 3 stores planned to open in H2, including a flagship store in Sydney’s CBD which is expected to open in Q4 FY26. ➢ Further stores are planned beyond FY26 for this high growth brand. ➢ The Company successfully opened its first Sports Direct store at Fountain Gate, Victoria, on 15 November 2025, alongside the launch of the Sports Direct online store. ➢ Two further stores are planned to open in H2 FY26, with a third store signed and scheduled for opening in H1 FY27. The Group are currently active in negotiations on a further 9 locations. ➢ Trading to date at the Sports Direct Fountain Gate store has been pleasing, providing confidence in the growth plan. ➢ Franchisee reacquisitions are ahead of plan with 9 stores acquired in H1. Trading and profit from the acquired stores is on track. ➢ 36 Franchisee stores remain as at the end of H1 FY26, with a further 8 reacquisitions planned in H2 FY26. ➢ The longest dated Franchisee agreement expires in August 2029. ➢ Successful launch of this premium lifestyle brand, supported by marketing activations concurrent with the Australian Open. ➢ Opened a flagship concept store in Melbourne in December 2025. ➢ A further 5 stores, including online, are planned for the remainder of FY26, with additional stores in future years. 9 Sports Direct Hoka Lacoste The Athlete’s Foot (TAF) For personal use only
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Accent Group H1 FY2026 Results Presentation Stores Wholesale Operating Efficiency Growth plan continued 8 ➢ Growth supported by the forward pipeline of committed wholesale orders for H2 FY26. ➢ Hoka and Lacoste will drive growth along with Skechers, Vans and Ugg forward wholesale orders ahead of prior year. ➢ Continued roll-out of new stores across the brands, with around 40 new stores planned to open in FY26. ➢ In addition to the 16 Glue Store closures, a further 7 stores are forecast for closure in H2. 10 ➢ Continue lease renewal program (with around 200 renewals to be negotiated by the end of FY27), stores will close where sustainable lease terms cannot be agreed with landlords ➢ The Vans turnaround program is progressing, supported by the closure of loss-making stores. ➢ Sustained focus on CODB reduction, including support office right-sizing, store cost initiatives, and lease optimisation ➢ Closure of OzSale and Glue businesses, and expiry of non-core/unprofitable distribution agreements (Dickies, Herschel) For personal use only
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Accent Group H1 FY2026 Results Presentation 134 36 12 125 FY17 FY26 H1 Franchise Corporate Sports Direct and The Athlete’s Foot 12 11 •Early performance pleasing, providing confidence in the growth plan. Fountain Gate Launch •A further 2 stores are planned for the remainder of FY26 with a third store signed and scheduled for opening in H1 FY27. There are currently active negotiations on a further 9 locations. Continued Rollout in FY26 •Target of at least 50 stores over the next 6 years with the opportunity for 100+ stores Outlook •Ahead of plan with 9 stores acquired in H1 FY26 with 36 franchisee stores remaining •The 9 acquisitions contributed $27m of annualised sales in FY25, while the remaining 36 locations generated $108m H1 FY26 Buyback Update •A further 8 stores are planned for acquisition in H2 FY26 H2 FY26 Buyback Plan •The longest dated agreement expires in August 2029 with trading and profit from the acquired stores on track with plan Outlook 146 161 Physical Stores 9 reacquisitions in H1 FY26 13 NZ Corporate Stores 112 AU Corporate Stores 99 reacquisitions to date +113 Sports Direct – Fountain Gate, Victoria For personal use only
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Dividends and trading update For personal use only
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Accent Group H1 FY2026 Results Presentation Dividends • Accent Group has announced an interim dividend for H1 FY26 of 3.25 cents per share, fully franked, payable on 18 March 2026 to shareholders registered on 4 March 2026. The interim dividend represents a c. 70% payout ratio of H1 FY26 Statutory EPS. Debt Refinancing • Successfully completed debt refinancing increasing the total facility by $102M to $372M on improved terms including a lower margin with tenure extended to December 2028. Trading Update • Total owned sales for the first 8 weeks of H2 (29 December - 22 February) have grown by 7.1%. For the same period, LFL sales are flat on the prior year. • Continuing business Gross Margin % in January was also in line with the prior year. Outlook • The company confirms guidance for H2 FY26 EBIT in the range of $30M - $35M. This guidance assumes H2 FY26 LFL sales and gross margin % flat to prior year. • The recent strengthening in the AUD/USD exchange rate provides Gross Margin support for the back end of FY26 and into FY27. Investor Strategy Day • In the context of the evolution of the business and significant levers for growth in the short through to long term, Accent Group plans to host an investor Strategy Day in Q4 FY 2026. The Strategy Day will provide an update on Accent’s strategy, growth priorities and medium-term financial framework. Further details will be made available closer to the time. Dividends and trading update 13 For personal use only
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Appendix For personal use only
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Accent Group H1 FY2026 Results Presentation Store network and distribution agreements 1. Includes websites (31) and franchises (36) 2. Ceasing of Glue operations Store Network Distribution Agreements Total Distribution Agreements: 10 15 For personal use only
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Accent Group H1 FY2026 Results Presentation Balance sheet Commentary Balance Sheet • Inventory increase from FY25 includes timing of Goods in Transit (+$12.2m), The Athlete’s Foot reacquisition program (+$3.2m), Sports Direct (+$4.3m), Lacoste (+$11.3m) with the remaining associated with store network expansion and timing of new stock purchases. • Intangible asset increase from 29 Jun 2025 predominantly driven by TAF Franchise Buyback Goodwill (+$13.7m). $000's 28 Dec 2025 FY26 29 Jun 2025 FY25 29 Dec 2024 FY25 Trade receivables and prepayments 60,743 40,817 54,893 Inventories 350,543 308,556 285,960 Trade payables and provisions (257,897) (223,948) (203,470) Net working capital 153,389 125,425 137,383 Intangible assets 425,989 416,282 399,194 Property, plant and equipment 106,579 111,465 120,800 Capital investments 532,568 527,747 519,994 Lease receivable 18,688 16,411 17,456 Right of use asset 320,053 285,933 283,723 Lease liabilities (429,596) (396,066) (407,466) Lease balances (90,855) (93,722) (106,287) Net cash/(debt) (114,620) (100,033) (115,897) Deferred income (13,546) (12,694) (15,285) Tax and derivatives 28,991 28,367 26,316 Net assets/equity 495,927 475,090 446,224 16 For personal use only
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Accent Group H1 FY2026 Results Presentation 56.7% 58.1% 53.3% 55.2% 56.6% 55.6% 53.0% 0.73 0.67 0.74 0.71 0.68 0.67 0.65 0.60 0.65 0.70 0.75 0.80 50% 51% 52% 53% 54% 55% 56% 57% 58% 59% H1 FY20 H1 FY21 H1 FY22 H1 FY23 H1 FY24 H1 FY25 H1 FY26 FX Rate Gross Margin % Gross Margin FX Rate Achieved Gross margin and FX rate Statutory Gross Margin (%) and FX Rate Overview 17 54.3% Continuing Business Gross Margin 1 (includes estimated FX impact of 80BPS (c.$6.5m) ) 1. Gross Margin % excluding the MySale and Glue businesses For personal use only
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Accent Group H1 FY2026 Results Presentation Frasers Group Strategic Partnership 12 Sports Direct brand offering 500+ UK stores 45+ Asia stores 275+ Europe stores Sports Direct across the Globe Wider variety of sports, athleisure and sports fashion products at affordable prices compared to competitors Existing strong global brand recognition which builds trust and value perception Innovative store designs providing an engaging customer shopping experience blending physical and digital experiences Ability to attract a broader customer base and maintain customer loyalty Strategic Rationale 1. Strategic alliance with Frasers Group 2. Operation of market leading global brand 3. Strong strategic alignment with Accent Group 4. Expansion into complementary and attractive market 5. Creates significant opportunity for growth Market opportunity The Australian and New Zealand sports market estimated at $5bn+ 18 1. Select brands shown For personal use only
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Accent Group H1 FY2026 Results Presentation Notice and disclaimer Important Notice and Disclaimer • This presentation has been prepared by Accent Group Limited ABN 85 108 096 251 (Accent Group or Company) and is general background information in relation to Accent Group and its activities current as at the date of this presentation. It is information given in summary form and does not purport to be complete. Information in this presentation should not be considered as advice or a recommendation to investors or potential investors and does not take into account any particular investment objectives, financial situation or needs. Before acting on any information, investors should consider the appropriateness of the information having regard to these matters, any relevant offer document and in particular, should seek independent financial and legal advice. • This presentation may contain forward looking statements including, without limitation, statements regarding our current intent, beliefs or expectations with respect to Accent Group’s businesses and operations. Readers are cautioned not to place undue reliance on these forward-looking statements. Accent Group does not undertake any obligation to publicly release the result of any revisions to these forward-looking statements or to otherwise update any forward-looking statements, whether as a result of new information, future events or otherwise, after the date of this presentation. Actual results may vary materially in a positive or negative manner. Forward looking statements and hypothetical examples are subject to known and unknown risks, uncertainties and other factors, many of which are beyond Accent Group’s control. The forward-looking statements in this presentation reflect views held only as at the date of this presentation. The operating and financial performance of Accent Group are influenced by a variety of general economic, market and business conditions, including levels of consumer spending, inflation, interest and exchange rates, access to debt and capital markets, and government fiscal, monetary and regulatory policies. Past performance and forecasts are not reliable indications of future performance. • Accent Group Limited or its directors, officers, employees, agents or contractors makes no representation or warranty (either expressed or implied) as to the fairness, accuracy, completeness or correctness of all or any part of this presentation, or the likelihood of fulfilment of any future looking statement or any events or results expressed or implied in any forward-looking statement. To the full extent permitted by law, Accent Group disclaims any liability in connection with this presentation and any obligation or undertaking to release any updates or revisions to the information contained in this presentation to reflect any change in expectations or assumptions. For personal use only