Temple and Webster (ASX:TPW) report revenue up 138%

Company News

by Rachael Jones

Online homewares store Temple and Webster (ASX:TPW) record full year revenue of $176.3 million up 74 per cent on the year before.

Year to date revenue from 1 Jul to 19 October is up 138 per cent on the prior corresponding period.

Accelerated operational leverage delivered 483 per cent growth in EBITDA to $8.5 million versus the pcp with adjusted EBITDA margins improving from 2.5 per cent in FY19 to 5.3 per cent in FY20.

The strong bottom-line result, combined with the negative working capital nature of the business model, allowed us to finish the year with $38.1 million in cash and zero debt.

That excludes the proceeds from the $40m capital raise conducted at the beginning of FY21. The strength of our balance sheet will not only protect us in any down-side scenario, but also allow us to pursue strategic opportunities as they arise.

Shares in Temple and Webster (ASX:TPW) are trading 5.3 per cent lower at $13.29.
 

Are you a 708 sophisticated investor?

A sophisticated investor is defined under Section 708 of the Corporations Act (net assets of $2.5 million or annual incomes in excess of $250,000).

They are eligible to receive information regarding wholesale investment opportunities that are not available to regular or retail investors.

Please subscribe if you would like to be alerted to these types of opportunities.