Q1 2024 Results - Investor Presentation
Appendice
Basis of preparation of the financial information presented
The information presented is based on Goldstory S.A.S. audited consolidated and management accounts for the three-month period ended December 31, 2023. They have been prepared in
accordance with International Financial Reporting Standards ("IFRS GAAP") and are not audited.
This presentation contains certain data that constitutes "non-IFRS Metrics", including the following:
Reported EBITDA is defined as profit (loss) for the period excluding (i) income tax, (ii) cost of net financial debt and other financial income (and expenses), (iii) the allowance for depreciation,
amortization, impairment and provisions net of provision reversals, and (iv) non-recurring income and expenses, corresponding to all items that are not directly related to our operations or
core businesses and that are deemed by management to be non-recurring by their nature. Reported EBITDA represents network contribution minus total network indirect costs..
Adjusted EBITDA represents Reported EBITDA adjusted to (i) give proforma effect to the actual or forecasted full-year profitability of (x) stores opened within the relevant period and (y) stores
refurbished, relocated or rebranded within the relevant period, (ii) exclude the EBITDA of Agatha which is undergoing operational restructuring and is projected by management to generate
positive EBITDA in the financial year ending September 30, 2025, (iii) normalize the impact of volatile electricity costs in France, Italy and Germany, by applying electricity costs as
contractually fixed by the Group for the financial year ending September 30, 2025, and (iv) exclude the impact of non-recurring subsidies and credit notes received by the Group, as
compensation for operating losses incurred as a result of the COVID-19 pandemic in respect of prior years.
Adjusted Free Cash Flow represents free cash flows less (i) refurbishment and openings capital expenditure, (ii) change in working capital of fixed assets, (iii) sales of property, plant and
equipment and intangible assets, (iv) targeted investment in physical gold inventory for hedging purposes, and (v) the cash impact of non-recurring subsidies and suppliers' credit notes
received by the Group, as compensation for operating losses incurred as a result of the COVID-19 pandemic related to prior years.
Network Sales represents total revenue recognized in our stores located in France, Italy and the Rest of the World, through our e-commerce platforms, to our affiliated partners and from our
wholesale business. It excludes sales of precious metals and other services.
Gross margin by perimeter represents the apportionment of our like-for-like gross margin among perimeters, including geography. To improve the clarity of the presentation, when a change
of perimeter takes place due to a conversion among brands, the perimeter reported for such store in a conversion year is also used as the perimeter reported for such store for the preceding
year (regardless of what its brand was in the previous year).
Network Contribution represents our gross margin less our total network direct costs..
Like-for-like network sales excludes network sales from our affiliated partners, our wholesale business, the Agatha business and any directly operated stores / brands that opened or closed
the last two years before the closing period presented, as well as any network sales adjustments from the customer loyalty program.
Free Cash Flow conversion rate represents Free Cash Flow divided by Reported EBITDA generated during the relevant period.
Net Debt represents our total senior financial debt net of cash on balance sheet.
THOM
Q1 2024 Results - Investor presentation March 15, 2024
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