Interim report
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For the 26 weeks ended 2 9 December 2024 (prior period 26 weeks ended 2 4 December 2023) For personal use only
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Directors’ Report 1 Auditor’s Independence Declaration 5 Index to the Financial Statements 6 Consolidated Statement of Comprehensive Income 7 Consolidated Balance Sheet 8 Consolidated Statement of Changes in Equity 9 Consolidated Statement of Cash Flows 10 Notes to the Consolidated Financial Statements 12 Directors’ Declaration 23 Independent Auditor’s Review Report to the Members of Beacon Lighting Group Limited 24 Corporate Directory 26 Store Locations 28 INTERIM FINANCIAL REPORT - 26 WEEKS ENDED 29 DECEMBER 2024 For personal use only
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1 INTERIM FINANCIAL REPORT - 26 WEEKS ENDED 29 DECEMBER 2024 202024220242023 The Directors of Beacon Lighting Group Limited (the ‘Company’) present the interim report for the Group and its controlled entities for the 26 weeks ended 29 December 2024. 1. DIRECTORS The names of the Company’s Directors in office during the 26 weeks ended 29 December 2024 and until the date of this report are as below. All Directors were in office for the entire period. Ian Robinson Executive Chairman Eric Barr Deputy Chairman, Non-Executive Director Glen Robinson Director, Chief Executive Officer Neil Osborne Non-Executive Director Prue Robinson Executive Director Daniel Palumbo Non-Executive Director 2. REVIEW OF OPERATIONS Beacon Lighting is Australia’s leading retail, online and trade supplier of lighting, ceiling fans, and electrical accessorie s. Beacon Lighting also operates specialty lighting businesses under different brand names in Australia and has expanded internationally, through wholesale operations in multiple countries. Additionally, Beacon Lighting holds a 50% stake in the Large Format Prope rty Fund, which owns seven retail properties in Australia. As of H1 FY2025, Beacon Lighting’s trading operations in Australia (unless otherwise stated) included: • 126 Beacon Lighting company stores. • 2 Beacon Lighting franchised stores. • 5 Commercial sales offices. • International sales offices in Hong Kong, Germany, the United States of America and a support office in China. • Specialty businesses: Connected Light Solutions, Masson For Light, Custom Lighting and Beacon Lighting Wholesale. The Australian operations are supported by distribution centres in Brisbane (QLD), Melbourne (VIC), along with a third-party logistics (3PL) distribution centre in Perth (WA). The Beacon Group Support Centre is located in Melbourne (VIC). During H1 FY2025, Australian consumer sentiment remained pessimistic, with retail customer s exercising caution. Despite these conditions, the Beacon Trade strategy continued to drive sales through our stores, commercial and eCommerce sales channels. Beacon Lighting has continued to focus on bringing to market the latest, innovative, energy -efficient and fashion orientated lighting, ceiling fans, and electrical accessories to market, supported by outstanding customer service from the Beacon Lighting team. This remains a key differentiator for Beacon Lighting. Beacon Lighting continues to have four strategic growth pillars, which are: • Retail: Emphasis on store optimisation, network expansion, an exciting product range, inspirational store design, VIP member benefits, and an outstanding customer experience. • Trade: Building strong relationships with trade and commercial customers through direct and referral sales, trade specific products, special trade prices, other trade benefits, and an industry leading Beacon Trade Club. • eCommerce: Delivering engaging, user -friendly websites and a seamless omni -channel experience for both retail and trade customers. • New Business: Pursuing growth through emerging retail and wholesale businesses, international sales, property investment, and strategic acquisitions. For personal use only
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2 INTERIM FINANCIAL REPORT - 26 WEEKS ENDED 29 DECEMBER 2024 202024220242023 The Beacon Lighting Group result for H1 FY2025 compared to H1 FY2024 is presented in the following table: Consolidated Entity H1 FY2025 $’000 H1 FY2024 $’000 Change $’000 Change % Sales 170,568 164,857 5,711 3.5% Gross Profit 118,264 114,337 3,927 3.4% Other Income & Other Revenue (1) 1,336 908 428 47.1% Operating Expenses (2) (72,246) (68,849) (3,397) 4.9% EBITDA (3) 47,354 46,396 958 2.1% EBIT (3) 29,666 29,839 (173) (0.6%) Net Profit After Tax 17,595 18,051 (456) (2.6%) (1) Other Income includes other revenue, other income and a share of net profits of associates. (2) Operating Expenses exclude depreciation, amortisation and finance costs. (3) Beacon Lighting discloses certain non-IFRS measures in this Directors’ Report, that are not audited or reviewed by the Group’s auditors. The Directors believe the presentation of non- IFRS financial measures are useful for the users of this financial report as they provide additional and relevant information that reflect the underlying financial performance of Beacon Lighting. EBITDA : Earnings before Interest, Tax, Depreciation and Amortisation. EBIT : Earnings before Interest and Tax. Beacon Lighting has continued to strengthen our relationships with our trade customers. The highlight of the Beacon Trade res ult in H1 FY2025 was that trade sales through Beacon Lighting stores increased by 25.3%. Other significant developments included th e opening of new company stores at Port Stephens (NSW), Chatswood (NSW) and Shepparton (VIC). The Bendigo (VIC) store was relocated to a larger showroom, while Chatswood (NSW) replaced the Killara (NSW) store which has closed. Beacon Lighting thanks our retail, trade, and wholesale customers for their continued support throughout H1 FY2025. The Beaco n Lighting Group remains committed to delivering innovative products, excellent service, and sustainable growth for all stakeholders. For personal use only
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3 INTERIM FINANCIAL REPORT - 26 WEEKS ENDED 29 DECEMBER 2024 202024220242023 3. SIGNIFICANT CHANGES IN THE STATE OF AFFAIRS There were no significant changes in the state of affairs of the business during the 26 weeks ended 29 December 2024. 4. AUDITOR’S INDEPENDENCE DECLARATION A copy of the auditor’s independence declaration as required under section 307C of the Corporations Act 2001 is set out on page 5. 5. ROUNDING OF AMOUNTS The Group has relied on the relief provided by ASIC Corporations Instrument 2016/191, and in accordance with that Instrument, amounts in the Directors’ report and financial statements have been rounded off to the nearest thousand dollars, or in certain cases, to the nearest dollar. 6. EVENTS OCCURRING AFTER THE REPORTING PERIOD Other than the items described below, there has been no other matter or circumstance that has occurred subsequent to period e nd that has significantly affected, or may significantly affect, the operations of the Group, the results of those operations or the state of affairs of the Group or economic entity in subsequent financial periods. • A fully franked interim dividend of $0.041 was declared on 19th February 2025. Signed in accordance with a resolution of Directors, Ian Robinson Executive Chairman Glen Robinson Chief Executive Officer Melbourne, 19th February 2025 For personal use only
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4 INTERIM FINANCIAL REPORT - 26 WEEKS ENDED 29 DECEMBER 2024 For personal use only
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5 INTERIM FINANCIAL REPORT - 26 WEEKS ENDED 29 DECEMBER 2024 For personal use only
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This interim financial report is the consolidated financial report of the consolidated entity consisting Beacon Lighting Grou p Limited, ACN 164 122 785 and its controlled entities. Beacon Lighting Group Limited is a company limited by shares, incorporated and domiciled in Australia. Its registered office and principal place of business is L e v e l 1 , 295 Whitehorse Road, Nunawading 3131, Victoria. The financial report was authorised for issue by the Directors on 19th February 2025. Consolidated Statement of Comprehensive Income 7 8 Trade and Other Payables 15 Consolidated Balance Sheet 8 9 Current Borrowings 16 Consolidated Statement of Changes in Equity 9 10 Current Provisions 16 Consolidated Statement of Cash Flows 10 11 Non Current Provisions 17 Notes to the Consolidated Financial Statements 12 12 Leases 17 1 Summary of Material Accounting Policies 12 13 Contributed Equity 19 2 Segment Information 12 14 Contractual Maturities of Financial Liabilities 20 3 Profit and Loss Information 13 15 Related Party Transactions 21 4 Fair Value Measurement of Financial Instruments 13 16 Dividends 21 5 Property, Plant and Equipment 14 17 Income Tax 21 6 Investment in Associates Accounted for using the 18 Contingencies 21 Equity Method 14 19 Commitments 21 7 Intangible Assets 15 20 Events Occurring after the Reporting Period 21 INTERIM FINANCIAL REPORT - 26 WEEKS ENDED 29 DECEMBER 2024 6 For personal use only
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7 INTERIM FINANCIAL REPORT - 26 WEEKS ENDED 29 DECEMBER 2024 CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME For the 26 weeks ended 29 December 2024 and the 26 weeks ended 24 December 2023 Beacon Lighting Group Limited and its controlled entities Consolidated Entity Notes 29 December 2024 $’000 24 December 2023 $’000 REVENUE FROM CONTRACTS WITH CUSTOMERS Sale of goods 170,568 164,857 Other revenue 255 240 Total revenue from contracts with customers 170,823 165,097 Other income 1,045 531 EXPENSES Cost of sales of goods (52,304) (50,520) Other expenses from ordinary activities Marketing (8,715) (8,676) Selling and distribution (69,756) (65,803) General and administration (11,463) (10,927) Finance costs (4,356) (3,771) Share of net profits of associates accounted for using the equity method 36 137 PROFIT BEFORE INCOME TAX 25,310 26,068 Income tax expense 17 (7,715) (8,017) PROFIT FOR THE PERIOD ATTRIBUTABLE TO THE OWNERS OF THE PARENT ENTITY 17,595 18,051 Profit is attributable to: Owners of Beacon Lighting Group Limited 17,595 18,051 17,595 18,051 Other comprehensive income - Items that may be reclassified to profit or loss: Changes in the fair value of derivatives 380 (437) Exchange differences on translation of foreign operations 868 (414) Income tax relating to these items (373) 256 Other comprehensive income for the period, net of tax 875 (595) TOTAL COMPREHENSIVE INCOME FOR THE PERIOD ATTRIBUTABLE TO THE OWNERS OF THE PARENT ENTITY 18,470 17,456 Total comprehensive income is attributable to: Owners of Beacon Lighting Group Limited 18,470 17,456 18,470 17,456 EARNINGS PER SHARE FOR THE PROFIT ATTRIBUTABLE TO THE OWNERS OF THE PARENT ENTITY Cents Cents Basic earnings per share 7.75 8.02 Diluted earnings per share 7.75 8.02 The above consolidated statement of comprehensive income should be read in conjunction with the accompanying notes. For personal use only
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8 INTERIM FINANCIAL REPORT - 26 WEEKS ENDED 29 DECEMBER 2024 CONSOLIDATED BALANCE SHEET As at 29 December 2024 and as at 30 June 2024 Beacon Lighting Group Limited and its controlled entities Consolidated Entity Notes December 2024 $’000 June 2024 $’000 CURRENT ASSETS Cash and cash equivalents 38,009 36,181 Trade and other receivables 13,425 14,315 Inventories 98,690 95,677 Derivative financial instruments 293 27 Other financial assets 10,000 10,025 Other current assets 2,646 2,724 Total current assets 163,063 158,949 NON-CURRENT ASSETS Financial assets at fair value through profit or loss 11 9 Investment in associates 6 19,875 20,059 Property, plant and equipment 5 48,918 46,557 Right of use asset 12 117,404 114,183 Intangible assets 7 13,918 13,928 Other non-current assets 1,571 409 Deferred tax assets 14,101 12,980 Total non-current assets 215,798 208,125 TOTAL ASSETS 378,861 367,074 CURRENT LIABILITIES Trade and other payables 8 26,246 28,127 Borrowings 9 20,217 24,160 Provisions 10 12,581 12,313 Current tax liabilities 2,346 1,860 Lease liabilities 12 29,255 27,947 Total current liabilities 90,645 94,407 NON-CURRENT LIABILITIES Lease liabilities 12 108,307 105,118 Provisions 11 1,790 1,759 Total non-current liabilities 110,097 106,877 TOTAL LIABILITIES 200,742 201,284 NET ASSETS 178,119 165,790 EQUITY Contributed equity 13 81,506 79,170 Other reserves (41,179) (42,197) Retained earnings 137,792 128,817 TOTAL EQUITY 178,119 165,790 The above consolidated balance sheet should be read in conjunction with the accompanying notes. For personal use only
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9 INTERIM FINANCIAL REPORT - 26 WEEKS ENDED 29 DECEMBER 2024 CONSOLIDATED STATEMENT OF CHANGES IN EQUITY For the 26 weeks ended 29 December 2024 and the 26 weeks ended 24 December 2023 Beacon Lighting Group Limited and its controlled entities Consolidated Entity Notes Contributed Equity $’000 Reserves $’000 Retained Earnings $’000 Total $’000 BALANCE AS AT 25 JUNE 2023 74,468 (42,336) 116,964 149,096 Profit for the period - - 18,051 18,051 Other comprehensive (loss)/income - (595) - (595) Total comprehensive income for the period - (595) 18,051 17,456 Transactions with owners in their capacity as owners Issue of shares via dividend re-investment plan 2,366 - - 2,366 Employee share scheme - 15 - 15 Dividends provided for or paid 16 - - (8,984) (8,984) Total contributions by and distributions to owners 2,366 15 (8,984) (6,603) BALANCE AS AT 24 DECEMBER 2023 76,834 (42,916) 126,031 159,949 BALANCE AS AT 30 JUNE 2024 79,170 (42,197) 128,817 165,790 Profit for the period - - 17,595 17,595 Other comprehensive (loss)/income - 875 - 875 Total comprehensive income for the period - 875 17,595 18,470 Transactions with owners in their capacity as owners Issue of shares via dividend re-investment plan 2,336 - - 2,336 Employee share scheme - 143 - 143 Dividends provided for or paid 16 - - (8,620) (8,620) Total contributions by and distributions to owners 2,336 143 (8,620) (6,141) BALANCE AS AT 29 DECEMBER 2024 81,506 (41,179) 137,792 178,119 The above consolidated statement of changes in equity should be read in conjunction with the accompanying notes. For personal use only
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10 INTERIM FINANCIAL REPORT - 26 WEEKS ENDED 29 DECEMBER 2024 CONSOLIDATED STATEMENT OF CASH FLOWS For the 26 weeks ended 29 December 2024 and the 26 weeks ended 24 December 2023 Beacon Lighting Group Limited and its controlled entities Consolidated Entity Notes 29 December 2024 $’000 24 December 2023 $’000 CASH FLOWS FROM OPERATING ACTIVITIES Receipts from customers (inclusive of goods and services tax) 188,753 181,941 Payments to suppliers and employees (inclusive of goods and services tax) (144,521) (133,621) Interest received 1,045 498 Borrowing costs (4,356) (3,771) Income taxes paid (8,327) (8,939) Net cash inflow from operating activities 32,594 36,108 CASH FLOWS FROM INVESTING ACTIVITIES Payments for property, plant and equipment (5,989) (5,246) Loans to associates (250) - Payment for acquisition - (200) Payments for financial assets at amortised cost - (10,000) Proceeds from interest in associates 220 201 Proceeds from sale of property, plant and equipment 9 8 Net cash (outflow) from investing activities (6,010) (15,237) CASH FLOWS FROM FINANCING ACTIVITIES Proceeds from borrowings 39,318 38,923 Repayment of borrowings (43,261) (34,313) Payments for principal portion of lease liabilities (14,529) (13,142) Dividends paid to Company's shareholders 16 (6,284) (6,617) Net cash (outflow) from financing activities (24,756) (15,149) Net increase in cash and cash equivalents 1,828 5,722 Cash and cash equivalents at the beginning of the financial period 36,181 20,682 Cash and cash equivalents at end of period 38,009 26,404 The above consolidated statement of cash flows should be read in conjunction with the accompanying notes. For personal use only
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12 INTERIM FINANCIAL REPORT - 26 WEEKS ENDED 29 DECEMBER 2024 NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS For the 26 weeks ended 29 December 2024 and the 26 weeks ended 24 December 2023 Beacon Lighting Group Limited and its controlled entities 1. SUMMARY OF MATERIAL ACCOUNTING POLICIES The principal accounting policies adopted in the preparation of this consolidated interim report are set out below. These policies have been consistently applied to all the periods presented, unless otherwise stated. The financial report is for the consolidated entity consisting of Beacon Lighting Group Limited (the ‘Company’ or ‘Beacon Lighting Group’) and its controlled entities (the ‘Consolidated Entity’ or ‘Group’). Basis of preparation This consolidated interim financial report for the 26 weeks ended 29 December 2024 has been prepared in accordance with Accounting Standard AASB 134 Interim Financial Reporting and the Corporations Act 2001. This condensed consolidated interim financial report does not include all the notes of the type normally included in an annual financial report. Accordingly, this report is to be read in conjunction with the annual report for the 5 3 weeks ended 30 June 2024 and any public announcements made by the Group during the interim reporting period in accordance with the continuous disclosure requirements of the Corporations Act 2001. The accounting policies applied in these interim financial statements are the same as those applied in the Group’s consolidated financial statements as at the end of the 53 weeks ended 30 June 2024. (a) New, revised or amended accounting standards and interpretations adopted by the Group A number of new or amended standards became applicable for the current reporting period. The Group did not have to change its accounting policies or make retrospective adjustments as a result of adopting these standards. (b) Historical cost convention This interim financial report has been prepared in accordance with the historical cost convention, except for certain financial assets and liabilities (including derivative instruments). Comparative information is reclassified where appropriate to enhance comparability. 2. SEGMENT INFORMATION Operating segments are reported in a manner consistent with the internal reporting provided to the chief operating decision maker. The chief operating decision maker for the Group, is the Chief Executive Officer (CEO). The Group determines operating segments based on information provided to the CEO in assessing performance and determining the allocation of resources within the Group. Consideration is given to the manner in which products are sold, nature of the products supplied, the organisational structur e and the nature of customers. Reportable segments are based on the aggregated operating segments determined by the manner in which products are sold, similarity of products, nature of the products supplied, the nature of customers and the methods used to distribute the product. The Group purchases goods in USD for sales predominately into Australia. The Group’s one reportable segment is the selling of light fittings, fans and electrical accessories products. For personal use only
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NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS For the 26 weeks ended 29 December 2024 and the 26 weeks ended 24 December 2023 Beacon Lighting Group Limited and its controlled entities 13 INTERIM FINANCIAL REPORT - 26 WEEKS ENDED 29 DECEMBER 2024 3. PROFIT AND LOSS INFORMATION Significant Items Profit for the 26 weeks ended 29 December 2024 includes the following items that are unusual because of their nature, size or incidence: Consolidated Entity December 2024 $’000 December 2023 $'000 - - 4. FAIR VALUE MEASUREMENT OF FINANCIAL INSTRUMENTS AASB 13 requires disclosure of fair value measurements by level of the following fair value measurement hierarchy: a) quoted prices (unadjusted) in active markets for identical assets or liabilities (level 1); b) inputs other than quoted prices included within level 1 that are observable for the asset or liability, either directly or indirectly (level 2); and c) inputs for the asset or liability that are not based on observable market data (unobservable inputs) (level 3). The following table presents the Company’s financial assets and financial liabilities measured and recognised at fair value a s at 29 December 2024, on a recurring basis. At 29 December 2024 Level 2 $’000 Total $’000 Derivatives used for hedging – net position 293 293 At 30 June 2024 Level 2 $’000 Total $’000 Derivatives used for hedging – net position 27 27 The fair value of financial instruments that are not traded in an active market (for example, over–the–counter derivatives) is determined using valuation techniques. These valuation techniques maximise the use of observable market data where it is available and rely as little as possible on entity specific estimates. If all significant inputs required to fair value an instrument are observable, the instrument is included in level 2. All of the resulting fair value adjustments are included in level 2. There are no financial assets and liabilities in Level 1 and Level 3, and there are no transfers between the levels. For personal use only
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14 INTERIM FINANCIAL REPORT - 26 WEEKS ENDED 29 DECEMBER 2024 NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS As at 29 December 2024 and as at 30 June 2024 Beacon Lighting Group Limited and its controlled entities 5. PROPERTY, PLANT AND EQUIPMENT Consolidated Entity Furniture, Fittings and Equipment $’000 Vehicles $’000 Land and Buildings $’000 Total $'000 At 30 June 2024 Cost 86,642 4,178 1,673 92,493 Accumulated depreciation (43,230) (2,577) (129) (45,936) Net book amount 43,412 1,601 1,544 46,557 Half Year ended 29 December 2024 Opening net book amount 43,412 1,601 1,544 46,557 Additions 5,742 247 - 5,989 Disposals - (10) - (10) Depreciation charge (3,401) (204) (13) (3,618) Closing net book amount 45,753 1,634 1,531 48,918 At 29 December 2024 Cost 92,300 4,375 1,673 98,348 Accumulated depreciation (46,547) (2,741) (142) (49,430) Net book amount 45,753 1,634 1,531 48,918 6. INVESTMENT IN ASSOCIATES ACCOUNTED FOR USING THE EQUITY METHOD Consolidated Entity December 2024 $’000 June 2024 $'000 Shares in associates at carrying amount at start of period 20,059 19,963 Cash distributions received (220) (425) Net Share of associates profit / (losses) 36 521 Carrying amount at end of period 19,875 20,059 For personal use only
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15 INTERIM FINANCIAL REPORT - 26 WEEKS ENDED 29 DECEMBER 2024 NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS As at 29 December 2024 and as at 30 June 2024 Beacon Lighting Group Limited and its controlled entities 7. INTANGIBLE ASSETS Consolidated Entity Goodwill $’000 Patents, trademarks and other rights $’000 Total $’000 At 30 June 2024 Cost 13,828 500 14,328 Accumulated amortisation and impairment - (400) (400) Net book amount 13,828 100 13,928 At 29 December 2024 Cost 13,828 500 14,328 Accumulated amortisation and impairment - (410) (410) Net book amount 13,828 90 13,918 8. TRADE AND OTHER PAYABLES Consolidated Entity December 2024 $’000 June 2024 $’000 Trade payables 11,755 13,063 Customer deposits 3,594 4,036 Sundry creditors 10,442 10,249 Marketing fund 75 422 Other payables 380 357 26,246 28,127 Fair Value Trade payables are unsecured and are usually paid within 30 days of recognition. The carrying amounts of trade and other payables are assumed to be the same as their fair values, due to their short-term nature. For personal use only
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16 INTERIM FINANCIAL REPORT - 26 WEEKS ENDED 29 DECEMBER 2024 NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS As at 29 December 2024 and as at 30 June 2024 Beacon Lighting Group Limited and its controlled entities 9. CURRENT BORROWINGS Consolidated Entity December 2024 $’000 June 2024 $’000 Secured Trade finance (a) - - Interchange facility (b) 20,217 24,160 (a) Trade Finance The Group utilises trade finance facilities to fund inventory. The total available facility is $10,000,000. The interest rate is the base rate plus a margin. The term of the facility is one year. (b) Interchange Facility The Group utilises the interchange facility to fund inventory and other activities of the Group. The total available facility comprises of AUD $25,500,000. The interest rate is the base rate plus a margin for the drawing term. The term of the Intercha nge facility is two years and was entered into during FY2024. 10. CURRENT PROVISIONS Consolidated Entity December 2024 $’000 June 2024 $’000 Employee benefits 8,519 8,047 Warranty provision 1,834 2,148 Trade loyalty provision 2,023 1,962 Make good provision 26 26 Other provisions 179 130 12,581 12,313 For personal use only
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17 INTERIM FINANCIAL REPORT - 26 WEEKS ENDED 29 DECEMBER 2024 NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS As at 29 December 2024 and as at 30 June 2024 Beacon Lighting Group Limited and its controlled entities 11. NON CURRENT PROVISIONS Consolidated Entity December 2024 $’000 June 2024 $’000 Employee benefits 724 693 Make good provision 1,066 1,066 1,790 1,759 12. LEASES Consolidated Entity December 2024 $’000 June 2024 $’000 Right of use assets Buildings 117,404 114,183 117,404 114,183 Lease liabilities Current 29,255 27,947 Non current 108,307 105,118 137,562 133,065 For personal use only
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19 INTERIM FINANCIAL REPORT - 26 WEEKS ENDED 29 DECEMBER 2024 NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS As at 29 December 2024 and as at 30 June 2024 Beacon Lighting Group Limited and its controlled entities 13. CONTRIBUTED EQUITY Consolidated Entity December 2024 Shares June 2024 Shares Number of ordinary shares, fully paid 227,736,338 226,836,751 Consolidated Entity December 2024 Shares June 2024 Shares Movements in the number of ordinary shares Balance at the beginning of the period 226,836,751 224,596,289 Dividend reinvestment plan share issue 899,587 2,240,462 Balance at the end of the period 227,736,338 226,836,751 Consolidated Entity December 2024 $’000 June 2024 $’000 Movements in ordinary share capital Balance at the beginning of the period 79,170 74,468 Dividend reinvestment plan share issue 2,336 4,702 Balance at the end of the period 81,506 79,170 Ordinary shares Ordinary shares entitle the holder to participate in dividends and the proceeds on winding up of the Group in proportion to the number of and amounts paid on the shares held. All shares carry one vote per share. Ordinary shares have no par value and the Group does not have a limited amount of authorised capital. Capital risk management The Group’s objectives when managing capital are to safeguard their ability to continue as a going concern, so that they can continue to provide returns for shareholders and benefits for other stakeholders and to maintain an optimal capital structure to reduce the cost of capital. Consistently with others in the industry, the Group monitors capital on the basis of the gearing ratio. This ratio is calcula ted as net debt (borrowings less cash) divided by total equity. For personal use only
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20 INTERIM FINANCIAL REPORT - 26 WEEKS ENDED 29 DECEMBER 2024 NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS As at 29 December 2024 and as at 30 June 2024 Beacon Lighting Group Limited and its controlled entities 14. CONTRACTUAL MATURITIES OF FINANCIAL LIABILITIES Consolidated Entity Less Than 12 Months $’000 Between 1 and 5 Years $’000 Over 5 Years $’000 Total Contractual Cash Flows $’000 Carrying Amount (Assets) / Liabilities $’000 NON DERIVATIVES Trade and other payables 26,126 - - 26,126 26,126 Borrowings 20,418 - - 20,418 20,217 Lease liabilities 35,015 97,340 27,879 160,234 137,563 Total non-derivatives 81,559 97,340 27,879 206,778 183,906 DERIVATIVES Forward exchange contracts 293 - - 293 293 Net settled cash flow hedges 293 - - 293 293 For personal use only
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21 INTERIM FINANCIAL REPORT - 26 WEEKS ENDED 29 DECEMBER 2024 NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS As at 29 December 2024 and as at 30 June 2024 Beacon Lighting Group Limited and its controlled entities 15. RELATED PARTY TRANSACTIONS Beacon Lighting Group Limited holds 50% of the issued units in the Large Format Property Fund for the amount of $19,875,000. The Group has loaned $ 4,200,000 (FY2024 $4,050,000) to the Large Format Property Fund to support the development of the fund properties. The Group recognized a share of the net profit of associates accounted for using the equity method of $36,000. 16. DIVIDENDS Consolidated Entity 29 December 2024 $’000 24 December 2023 $’000 Total dividends provided for or paid during the half year 8,620 8,984 17. INCOME TAX The Income tax expense for the period is the tax payable on the current period’s taxable income based on the applicable income tax rate for each jurisdiction adjusted by changes in deferred tax assets and liabilities attributable to temporary differences and to unused tax losses. The estimated average annual tax rate used for the 26 weeks ended 29 December 2024 is 30%, compared to 30% for the 26 weeks ended 24 December 2023. 18. CONTINGENCIES There were no significant or material contingent liabilities including legal claims at 29 December 2024 or 24 December 2023. 19. COMMITMENTS Other than the item described below, there has been no significant change to the substance or value of commitments to those disclosed in the 30 June 2024 financial report. 20. EVENTS OCCURRING AFTER THE REPORTING PERIOD Other than the items described below, there has been no other matter or circumstance that has occurred subsequent to period e nd that has significantly affected, or may significantly affect, the operations of the Group, the results of those operations or the state of affairs of the Group or economic entity in subsequent financial periods. • A fully franked interim dividend of $0.041 was declared on 19th February 2025. For personal use only
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23 INTERIM FINANCIAL REPORT - 26 WEEKS ENDED 29 DECEMBER 2024 In the opinion of the Directors: (a) the Financial Statements, notes and the additional disclosures set out on pages 6 to 21 are in accordance with the Corporations Act 2001, including: (i) complying with Accounting Standards, the Corporations Regulations 2001 and other mandatory professional reporting requirements, and (ii) giving a true and fair view of the consolidated entity’s financial position as at 29 December 2024 and of its performance for the 26 weeks period ended on that date, and (b) there are reasonable grounds to believe that the company will be able to pay its debts as and when they become due and payable. Signed in accordance with a resolution of Directors. For personal use only
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INDEPENDENT AUDITOR’S REVIEW REPORT TO THE MEMBERS OF BEACON LIGHTING GROUP LIMITED INTERIM FINANCIAL REPORT - 26 WEEKS ENDED 29 DECEMBER 2024 24 For personal use only
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INDEPENDENT AUDITOR’S REVIEW REPORT TO THE MEMBERS OF BEACON LIGHTING GROUP LIMITED INTERIM FINANCIAL REPORT - 26 WEEKS ENDED 29 DECEMBER 2024 25 For personal use only
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26 INTERIM FINANCIAL REPORT - 26 WEEKS ENDED 29 DECEMBER 2024 tor(1 ) DIRECTORS Ian Robinson Executive Chairman Glen Robinson Chief Executive Officer Eric Barr Deputy Chairman Neil Osborne Non-Executive Director Prue Robinson Executive Director Daniel Palumbo Non-Executive Director LEGAL ADVISORS Baker & McKenzie Level 19 181 William Street Melbourne Victoria COMPANY SECRETARY Tracey Hutchinson REGISTERED OFFICE Level 1 295 Whitehorse Road Nunawading 3131 Victoria WEBSITES Corporate site beaconlightinggroup.com.au Retail site beaconlighting.com.au Trade site beacontrade.com.au Other business websites beaconlightingcommercial.com.au beaconinternational.com customlighting.com.au lightsourcesolutions.com.au lightsourcesolutions.co.nz lucciair.com fanaway.com massonforlight.com.au beaconlighting.us beaconlighting.eu connectedlightsolutions.com.au mammothfans.com.au imaginesmartlighting.com madebymayfair.com AUDITORS PricewaterhouseCoopers 2 Riverside Quay Southbank Victoria SHARE REGISTRY Computershare Investor Services Pty Limited Yarra Falls 452 Johnston Street Abbotsford Victoria STOCK EXCHANGE LISTING Beacon Lighting Group Limited (BLX) shares are listed on the ASX For personal use only
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28 INTERIM FINANCIAL REPORT - 26 WEEKS ENDED 29 DECEMBER 2024 VIC Abbotsford 250 Hoddle St Ballarat Wendouree Homemaker Centre 333 Gillies St Balwyn North 304 Doncaster Rd Bayswater 216 Canterbury Rd Bayswater Nth Bendigo 285 High St Kangaroo Flat Burwood 110 Burwood Hwy Chirnside Park Showroom Centre 286 Maroondah Hwy Coburg Lincoln Mills Homemaker Centre 64-74 Gaffney St Craigieburn 440 Craigieburn Rd Cranbourne 1280 Thompson Rd Essendon Homemaker Hub 120 Bulla Rd Strathmore Fountain Gate Casey Lifestyle Centre 430 Princes Hwy Frankston 22 McMahons Rd Geelong 354 Melbourne Rd Hawthorn 291 Burwood Rd Heidelberg 2-4 Dora St Hoppers Crossing 283 Old Geelong Rd Maribyrnong Harvey Norman Centre 169 Rosamond Rd Melton 2269 Melton Hwy Mentone 27-29 Nepean Hwy Mildura 671 Fifteenth St Moorabbin 867 Nepean Hwy Nunawading 295 Whitehorse Rd Oakleigh 1402-1404 Dandenong Rd Pakenham Lifestyle Centre 825 Princes Hwy Preston 23 Bell St Scoresby 1391 Ferntree Gully Rd Shepparton 130-160 Benalla Rd South Melbourne 50-56 York St South Morang 825 Plenty Rd Springvale IKEA Homemaker Centre 917 Princes Hwy St Kilda 366 St Kilda Rd Thomastown Homemaker Centre Cnr Dalton & Settlement Rds Traralgon 73 Argyle St Warrnambool 1-49 Raglan St Watergardens Homemaker Centre 440 Keilor-Melton Hwy Waurn Ponds Homemaker Centre 235 Colac Rd (Princes Hwy) NSW Albury Harvey Norman Centre 94 Borella Rd Albury Alexandria Homemaker Centre Cnr O’Riordan & Doody Sts Artarmon Home HQ North Shore Cnr Reserve Rd & Frederick St Bankstown Home Central 9 - 67 Chapel Rd South Belrose Supa Centa Belrose 4-6 Niangala Cl Brookvale 577-579 Pittwater Rd Carlton 367 Princes Hwy Campbelltown Homebase 24 Blaxland Rd Camperdown 139-143 Parramatta Rd Castle Hill Home Hub Hills Cnr Victoria & Hudson Ave Chatswood 658 Pacific Highway Crows Nest 118 Falcon St Gladesville Wharf Sqaure 8 Wharf Rd Gosford West Hometown 356 Manns Rd Gregory Hills Home Co Steer Rd Hornsby Cnr Pacific Hwy & Yardley Ave Waitara Kotara Kotara Home 108 Park Ave Lake Haven Home Mega Centre Lake Haven Drv Marsden Park Home Hub 9 Hollinsworth Rd McGraths Hill Home Central 264-272 Windsor Rd Mittagong Highlands Homemaker Centre 205 Old Hume Hwy Moore Park Supa Centa Moore Park Cnr Sth Dowling St & Todman Ave Penrith Homemaker Centre 2 Patty’s Place Port Macquarie 18 John Oxley Drive Port Stephens 60 Port Stephens Drive Taylors Beacon Prospect Homebase 19 Stoddart Rd Rutherford Harvey Norman Centre 366 New England Hwy Shellharbour 146 New Lake Entrance Rd Taren Point 105 Parraweena Rd Tuggerah Super Centre Cnr Bryant Ave & Wynong Rd Warners Bay Warners Bay Home 240 Hillsborough Rd Warrawong 1/30 Northcliffe Dr For personal use only
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29 INTERIM FINANCIAL REPORT - 26 WEEKS ENDED 29 DECEMBER 2024 ACT Fyshwick 175 Gladstone St Gungahlin 14/5 Hibberson St QLD Bundaberg 21 Johanna Bvd Bundall 61 Upton St Burleigh Heads Reedy Creek Road Cairns 331 Mulgrave Rd Cannon Hill Homemaker Centre 1881 Creek Rd Capalaba Freedom Home Centre 67 Redland Bay Rd Carseldine Homemaker Centre 1925 Gympie Rd Bald Hills Fortitude Valley Homemaker City North 111 McLachlan St Helensvale Homeworld 502 Hope Island Rd Hervey Bay 140 Boat Harbour Drv Ipswich Ipswich Riverlink Shopping Centre Cnr The Terrace & Downs St Jindalee Homemaker City 182 Sinnamon Rd Kawana 2 Eden St Minyama MacGregor 550 Kessels Rd Mackay 2/2 Heaths Rd Maroochydore Sunshine Homemaker Centre 72 Maroochydore Rd Morayfield Supa Centre 344 Morayfield Rd Noosa Noosa Civic Eenie Creek Rd North Lakes Prime Northlakes Cnr Lakes Dve & Mason St Rockhampton Cnr Yaamba & Richardson Rds Southport Bunnings Complex 542 Olsen Ave Toowoomba Harvey Norman Centre 910 Ruthven St Townsville - Fairfield Homemaker Centre 1 D’Arcy Dr Townsville - Garbutt Mega Centre Cnr Dalrymple Rd & Duckworth St Tweed Heads 29-41 Greenway Dr Underwood 34 Compton Rd Virginia 1860 Sandgate Road Windsor 190 Lutwyche Rd WA Armadale 1/1280 Armadale Rd Baldivis Safety Bay Rd Belmont 225 Great Eastern Hwy Bunbury Home Maker Centre 42 Strickland St Busselton 115 Strelly St Butler 220 Camborne Parkway Cannington 21 William St Claremont 201-207 Stirling Hwy Ellenbrook 180 The Promenade Jandakot South Central Cockburn 87 Armadale Rd Joondalup 3 Sundew Rise Malaga Home Centre 655 Marshall Rd Mandurah 430 Pinjarra Rd Midland Midland Central 4 Clayton St Myaree Melville Square 248 Leach Hwy Osborne Park Hometown 381 Scarborough Beach Rd SA Churchill Churchill Centre South 252 Churchill Rd Kilburn Gepps Cross Home HQ 750 Main North Rd Melrose Park Melrose Plaza 1039 South Rd Mile End 121 Railway Tce Modbury 985 North East Rd Mt Barker 4/4 Dutton Rd Munno Para Harvey Norman Centre 600 Main North Rd Smithfield Noarlunga Harvey Norman Centre 2 Seaman Dr NT Darwin Homemaker Village 356-362 Bagot Rd Millner TAS Devonport 6/4 Friend St Launceston 40 William St Moonah 7-9 Derwent Park Rd For personal use only
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