Breville Group Trading Around All-Time High level- A Quick Look

  • Apr 24, 2019 AEST
  • Team Kalkine
Breville Group Trading Around All-Time High level- A Quick Look

Breville Group Ltd’s (ASX: BRG) is mainly involved in innovation, development, marketing and distribution of small electrical appliances through its distinct business models. Today (i.e., 24 April 2019), the company’s shares were trading around at all time high level. In the past three months, the share price of the company increased by 64.82% as on 23 April 2019. At the time of writing, the company’s stock traded at a price of A$18.560, up by 2.372% during the day’s trade with the market capitalisation of ~A$2.36 Bn.

In the month of February 2019, the company had announced positive first-half results for FY 2019 in which it reported solid revenue growth, successful geographic expansion, double-digit EBIT growth and well-controlled inventory.

For the half-year period, the company had reported double-digit revenue growth in both Global and Distribution segments. The company’s Global product segment reported revenue growth of 9.2% in constant currency. During the half year period, the company executed on its acceleration program, increased its investment in product development and marketing, and successfully entered the German and Austrian markets.

For North America segment, the company reported double-digit sales growth in the US and witnessed strong performances across beverage and juicing. Overall, North America growth was impacted by a softer performance in Canada, which faced the same comparator headwinds, but also saw some major retailers reducing inventories.

In ANZ, the company reported double-digit growth in Australia, a particularly strong result against a challenging retail environment. In New Zealand, the company witnessed a softer market and a deliberate transition to a higher margin business model.

In Europe, the UK business grew strongly, comfortably and delivered double-digit growth. When combined with the change of business model in Germany and Austria, the European region delivered 32% revenue growth.

During the half year period, the company made progress with its acceleration program building on its increasingly scalable Global Platforms to drive growth through New Product Development / Onsite Product Development, improved go-to-market capabilities and geographic expansion.

The company’s external reporting segments are ‘Global Product’ and ‘Distribution’. These two segments reflect the two business models in the company: (i) global, innovation-driven, product business, and (ii) a distribution business. For both business units, the geographic regions execute the sales and distribution functions, supported by centralised functions (specifically, product development, marketing, and operations). ‘Global Product’ sells premium products are designed and developed by the company only and then they are sold globally. ‘Distribution’ sells products are designed and developed by a 3rd party. Products in this business unit may be sold under a brand owned by the group.

In H2 FY 2019, the company is expecting stronger Global Product segment growth and further geographic expansion. The company is also expecting its inventory to be higher than the previous year to support continued European expansion and current operational plans in order to bring forward some holiday inventory for FY 2020.


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