The Warehouse Group Limited FY22 Result

The Warehouse Group FY22 annual result announcement

Second highest Group sales ever of $3.3B as Kiwis seek out affordable products in another challenging year

Highlights include:

• Group sales of $3.3 billion, down 3.5% on prior year, up 3.8% on FY20
• FY22 gross profit margin decreased compared to FY21, but improved during the year with FY22 H2 gross profit margin of 36.1% up 140 basis points from FY22 H1 gross profit margin of 34.7%
• Reported Net Profit After Tax of $89.3 million – down 18.3% on prior year
• Adjusted Net Profit After Tax of $85.5 million – down 48.9% on prior year
• Both reported and adjusted NPAT reflect $11.4 million (after tax) reduction due to accounting treatment of cloud computing software arrangements
• Group online sales up 39.8% and making up 15.3% of total Group sales, and within this, click and collect up 54.9% and making up 49.0% of total Group online sales1
• Strong growth in MarketClub, our new Group membership programme, acquiring nearly 600,000 active members in first 10 months
• MarketMedia announced as new unified retail media platform, with retail media revenue growing +23% on prior year to $20.9M
• Final dividend of 10.0 cents per share declared, resulting in full year dividends of 20.0 cents per share.

Please refer to the attached:

1. Results Announcement
2. FY22 Investor Presentation
3. Media Release
4. Annual Report 2022
5. Corporate Action Notice
6. Quarterly Sales Report

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Announcement PDF