REG - Supreme PLC - Year End Trading Update

SupremeAnnouncement

24/04/2024 07:00

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RNS Number : 7528L  Supreme PLC  24 April 2024

24 April 2024

Supreme plc

("Supreme" or the "Company" or the "Group")

 

Year End Trading Update

 

-    Record financial performance, almost doubling Adjusted EBITDA(1) to at
least £38 million

 

Supreme PLC (AIM: SUP), a leading manufacturer, supplier, and brand owner of
fast-moving consumer goods, is pleased to provide a trading update for the
twelve months ended 31 March 2024 ("FY24" or the "Period"). Audited financial
results for the Period will be announced on Tuesday, 2 July 2024 ("Final
Results Announcement").

 

Supreme has delivered a record financial performance in FY24, driven by
organic revenue and profit growth across all divisions. The Group has almost
doubled profitability year-on-year, has generated record levels of cash and
has ended the year debt-free(2).

 

Supreme expects to report FY24 revenue of around £225.0 million (FY23:
£155.6 million) and Adjusted EBITDA(1) of at least £38.0 million (FY23:
£19.4 million), in-line with current market expectations(3).

 

Supreme's continued investment in rechargeable pod system vaping devices,
coupled with the Company's exceptional long-standing progress in developing a
uniquely diverse vape product mix, has ensured it is well positioned to adapt
to changes in the UK e-cigarette market.

 

Alongside an ongoing focus on accelerating organic growth and strategic
cross-selling, the Company remains committed to exploring complementary
acquisition opportunities to further diversify and scale the business.

 

The Group's Sports Nutrition & Wellness, Lighting and Batteries divisions
remain profitable and resilient, and Supreme will provide further detail on
the trading activity across each of its divisions in its Final Results
Announcement.

 

The board remains confident of the Group's future prospects.

 

 

(1) Adjusted EBITDA means operating profit before depreciation, amortisation
and Adjusted items

(2)Excludes IFRS16 debt ( )

(3)Analyst consensus immediately before this announcement for the year ending
31 March 2024 was revenue of £225 million and Adjusted EBITDA(1) of £38
million

 

 

Enquiries:

 

 Supreme plc                                                         via Vigo Consulting

 Sandy Chadha, Chief Executive Officer

 Suzanne Smith, Chief Finance Officer

 Shore Capital (Nominated Adviser and Joint Broker)                  +44 (0)20 7408 4090

 Mark Percy / David Coaten / Rachel Goldstein - Corporate Advisory

 Ben Canning - Corporate Broking

 Zeus (Joint Broker)                                                 +44 (0)161 831 1512

 Jordan Warburton / Alex Campbell-Harris - Investment Banking

 Benjamin Robertson - Corporate Broking

 Vigo Consulting (Financial Public Relations)                        +44 (0)20 7390 0230

 Jeremy Garcia / Kendall Hill

 supreme@vigoconsulting.com

 

About Supreme

 

Supreme supplies products across five categories; Batteries, Lighting, Vaping,
Sports Nutrition and Wellness, and Branded Distribution. The Company's
capabilities span from product development and manufacturing through to its
extensive retail distribution network and direct to consumer capabilities.
This vertically integrated platform provides an excellent route to market for
well-known brands and products.

 

The Group has over 3,300 active business accounts with retail customers who
manage over 10,000 branded retail outlets. Customers include B&M, Home
Bargains, Poundland, Tesco, Sainsburys, Morrisons, Amazon, The Range,
Costcutter, Asda, Halfords, Iceland and HM Prison & Probation Service.

 

In addition to distributing globally-recognised brands such as Duracell,
Energizer and Panasonic, and supplying lighting products exclusively under the
Energizer, Eveready, Black & Decker and JCB licences across 45 countries,
Supreme has also developed brands in-house, most notably 88Vape and has a
growing footprint in Sports Nutrition and Wellness via its principal brands
Sci-MX and Battle Bites.

 

https://investors.supreme.co.uk/
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