AUS
NZ
UK
CA
USA
IND
Highlights:
- The retailer, in a trading update, stated that gross sales grew by 0.1%, gross profit fell by 9.4%.
- Group Active Customers increased to 3,972,000.
- As of 30 June, Kogan has taken up the net cash position to AU$31.2 million from AU$12.8 million at the end of FY21.
- In a massive jump, at 1:57 PM AEST, the share price was quoted at AU$4.600 a piece, up 47%.
Shares of the retailing giant Kogan.com Ltd (ASX:KGN) have been on a gaining spree since Thursday morning. Kogan shares opened up trading at AU$3.35 apiece and soon were seen leaping ahead as the trading momentum took over. At 2:00 PM AEST, registering a massive jump of 47%, the shares were quoted at AU$4,600 apiece on the ASX.
Meanwhile, the benchmark index, ASX 200 Consumer Discretionary (INDEXASX:XDJ) was up by 0.50% around the same time.
The price movement was backed by the significant business update shared by the online retailer today. Via ASX, the company informed the market that it has delivered ‘another year of record gross sales.’
Key financial metrics shared in the business update
- In the financial year 2022 (FY22), the company recorded total sales of AU$1,180 million, up by 0.1% on FY21, with a CAGR (Compound Annual Growth Rate) of over 23% since FY20.
- Gross profit during these 12 months fell by 9.4% in a year to AU$184.6 million. However, the CAGR was over 20% since FY20.
- The company delivered an adjusted EBITDA of AU$19.1 million during FY22, down by 69% from FY21.
- Kogan Group Active customers increased to 3,972,000.
- Since FY21, Kogan First members have surged by 210% to more than 372,000.
- As of 30 June 2022, Kogan reported a net cash position of AU$31.2 million, and the total inventories stood at AU$161.1 million.
Kogan’s management on the update
Image source: © Nitsuki | Megapixl.com
Ruslan Kogan, CEO and founder, Kogan.com, said that customers are shifting to different ways of shopping without changing their lifestyle, and Kogan is serving the same need. He also said that the business would become leaner to pass the cost efficiencies to its customers.
Historical share performance of Kogan
In past one month, the shares have gained more than 56%. In last six months, the share price has dropped by more than 23%. On year-to-date basis, the share price tumbled by more than 45%, and in 12 months, it tanked by nearly 55% (As of 2:22 PM AEST).
