Asos Results Presentation Deck
◄ © 2023 asos
In FY23 we launched the Driving Change
agenda to restore profitability
■ We delivered on all four Driving Change agenda pillars:
Renewed commercial model tackled oldest stock,
reduced intake, speed to market
1.
2. Stronger order economics and a lighter cost
profile → £300m profit/cost savings, PPO¹ +30%
3. Robust and flexible balance sheet → May 2023
refinancing / equity raise; H2 cash generation
4. Refreshed leadership and culture → internal talent
complemented with external hires
■ Reflected in our performance with a much-improved H2:
Resetting model
in the face of
substantial H1
headwinds
H1
¹Profit per order calculated as variable contribution divided by billed orders
↑
H2
Self-help measures
resulting in H2
profit and cash
generation
SOWY TENT
3
ASOS ended FY23
a smaller but more
profitable business
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