Pet Retail Market and Valuation Outlook
Petz Projections
58
Margins: EBITDA Increasing According to Maturation
High operational leverage will increase margins and efficiency...
Even in the first year, the company has higher returns per store...
EBITDA Margin by Maturity Levels; [%]
...and the company's EBITDA Margin should follow the maturation...
EBITDA Margin and Store Maturation; [%]
65%
7.6%
Year 1
85%
13.9%
95%
100%
20.4%
16.9%
Year 2
Year 3
Year 4
Mature
Non-Mature
-Adj. EBITDA Margin
44% 43% 42% 39% 31% 26% 21% 17% 15% 11%
15.1% 15.0%
14.7% 14.8% -14.9%
14.1%
13.0%
12.0%
11.7% 11.6%
56% 57% 58% 61% 69% 74% 79% 83% 85% 89%
21E 22E 23E 24E 25E 26E 27E 28E
29E 30E
Overview | Promissing Industry | Assertive Hub-and-Spoke Strategy | Expansion to Outpace | Healthy and Solid Ecosystem | ESG | Valuation & Risks
Source: Team 7View entire presentation