REG - Revolution Beauty Gp - Trading Update

Revolution BeautyAnnouncement

27/03/2024 07:00

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20240327:nRSa4166Ia&default-theme=true

RNS Number : 4166I  Revolution Beauty Group PLC  27 March 2024

For immediate release

27 March 2024

Revolution Beauty Group plc

("Revolution Beauty", the "Group", or the "Company")

Trading Update

Revolution Beauty (AIM: REVB), the multi-channel mass beauty innovator,
provides a trading update for the year ended 29 February 2024 ("FY 2024").

The Group has continued to deliver a strong operational performance and
year-on-year improvement in profitability since its Capital Markets Event
("CME") and Trading Update on 8 February 2024. As a result, the Board now
expects to report adjusted EBITDA of at least £12.5m and revenue growth of
approximately 2% for FY 2024. This compares to the previous guidance of
adjusted EBITDA of between £11m and £12m and revenue growth of low single
digits.

As outlined at its CME, the Group is focusing on its Masterbrand, core
categories and select geographies to deliver future growth. This strategy is
progressing well, and whilst the exit of lower margin products and brands is
causing a short-term impact on sales as expected, there is clear evidence that
the longer-term benefit to profitability is already materialising. Coupled
with the Group's £10m cost saving programme, which is progressing well,
Revolution Beauty remains well-placed to deliver on its future growth
ambitions.

The Group expects to report its FY 2024 results in June 2024. An update will
be made nearer the time confirming the final date.

 

Lauren Brindley, Group Chief Executive Officer, commented: "It is early days,
but we are already seeing positive impacts from the new strategy, including an
encouraging response from our major customers and good progress on our cost
savings programme. Our focus on driving sales from our more profitable brands
is starting to deliver, with double-digit growth in sales of our core
"Revolution" Masterbrand versus the second half of FY 2023.

"Our major product launches for 2024 are ahead of plan as we focus on fewer
and more impactful new products. We also opened our TikTok shop this week and
are preparing to go live with a new direct Amazon US partnership in May 2024.
I remain highly confident about our growth prospects and our ability to become
a top five mass beauty player."

 

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF THE MARKET
ABUSE REGULATION (EU) NO. 596/2014 AS IT FORMS PART OF UK LAW BY VIRTUE OF THE
EUROPEAN UNION (WITHDRAWAL) ACT 2018, AS AMENDED.

 

For further information, please contact:

 

Investor Relations

Lauren Brindley, CEO

Neil Catto, CFO

Investor.Relations@revolutionbeautyplc
(mailto: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 / Antonia Pollock

Tel: +44 (0)20 3805 4822

Revolutionbeauty@headlandconsultancy.com
(mailto:Revolutionbeauty@headlandconsultancy.com)

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  TSTFFFIIVEIRFIS