Step One Clothing Ltd (FRA:J6H)
€ 0.775 0.01 (1.31%) Market Cap: 157.65 Mil Enterprise Value: 134.25 Mil PE Ratio: 21.02 PB Ratio: 4.94 GF Score: 44/100
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Half Year 2022 Step One Clothing Ltd Earnings Call Transcript

Feb 21, 2022 / 10:30PM GMT
Greg Taylor
Step One Clothing Limited - CEO

Thank you very much and good morning everyone. My name is Greg Taylor, founder and CEO of Step One. I'm joined today by Mr. Nigel Underwood, our CFO for Step One Pty. Ltd. Very pleased to introduce our first half '22 results and I'll run through those.

So revenue was at $38.1 million, which is up 11% on [PCP]. Gross margin remained at 83.1%, which was up 1%. Average order value $74.3, slightly down 1%, partly due to country mix. And our pro forma EBITDA sat at $7.4 million, which represented 19% of revenue. Pleasingly, website visits were up to 7.1 million and we maintained a conversion rate of 6.3%. And total number of new customers during the period was up 193,000 new customers to just over 918,000 total customers across the group. During the period, we successfully launched into the USA and post-period end recently, we have released our women's line.

Turning over to page 5. For those that are new to Step One, a brief history of the business. I founded the business four years ago, continued to grow the product. Within two years, we launched

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