Revolution Beauty FY EBITDA surges amid 'strong' sales growth
By Iain Gilbert
Date: Friday 06 May 2022
(Sharecast News) - Skincare and makeup group Revolution Beauty said on Friday that its full-year trading performance was "in line with market expectations", with strong sales and adjusted underlying earnings growth throughout the period.
Revolution Beauty stated it had experienced "continued positive momentum" in the second half of 2022, leading to full-year revenues of approximately £194.0m, up 42% year-on-year, and adjusted EBITDA of roughly £22.0m, 73% increase when compared to the 12 months ended 28 February 2021.
The AIM-listed group highlighted that its solid performance was achieved against a background of inflationary pressures, including freight and pandemic-related volatility.
In the UK, sales growth was 85% year-on-year, supported by post-pandemic footfall recovery amongst retail partners, while US sales grow 27% and sales in the rest of the world increased by approximately 79%.
Revolution also said it had benefited from a record fourth quarter, with global retailer expansions in Boots and Walgreens and ROW.
Chief executive Adam Minto said: "The group delivered a strong full-year performance, in line with expectations, and driven by the strength of our omnichannel route to market.
"Like everyone, we remain mindful of the current economic climate, but we know Revolution's mission to offer quality products at affordable prices remains as relevant as ever. Looking ahead, Revolution remains confident as it pursues its strategy and continues its growth trajectory."
As of 0915 BST, Revolution shares were down 2.64% at 113.43p.
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