Design Group 2022 Full Year Results

An update on helping people create and celebrate the good things in life. View full result highlights and announcement below.

Download: 2022 Full Year Results Announcement (PDF)

View Annual Report Interactive PDF

Download: Full Year Results Presentation 2022 (PDF)

Download: 2022 Annual Report

What’s Covered

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Creating Shared Value

Watch: 2022 Results Presentation

Designed to Succeed

Results Highlights

Our Business at a Glance

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Overview

Creating Shared Value

Infographic: What makes us different? Award winning service. Walmart seasonal supplier of the year for three years in a row. Tesco Supplier Partner Award for Sustainability. Geographic diversity. Sales in 82 countries. Broad range of products across five core categories, delivering a 'one-stop-shop' to our customers: celebrations, craft & creative play, gifting, not-for-resale consumables, and stationery. Creating shared value. Shareholders. Long-term growth in dividends and share price. 1.25p dividend. Employees. Training and development, strong teams and relationships. 3,718 direct employees. Customers. Innovative and trusted brands at the best prices across the globe. 11,000+ customers. Environment. Recognising the need to reduce our impact. 29% waste to landfill. Communities. Local initiatives supporting local communities and national charities. $700,000 raised for charity.

Design Group

Watch: 2022 Results Presentation with Q&A

Design Group

Designed to Succeed

Our key inputs: Our People: A passionate, skilled, diverse and innovative team. Our products: Trusted brands and a broad portfolio of products. Our relationships: Strong and trusted relationships with our customers and suppliers. Our financial strength: Strong resilient balance sheet. Our goals: Partner of choice to our customers and suppliers. Creative and winning culture. Deliver returns to our investors above market performance. What we do: Innovative product design and development: Over 230 designers, across four continents, producing thousands of designs a year. Responsible sourcing and manufacturing: Over 100,000 SKUs manufactured and sourced annually. Distribution and fulfilment: Delivering over 1 billion units annually to customers through optimised channels. Our values underpin what we do: To strive for excellence in everything we do To behave ethically and with integrity To focus on our customers and ‘go the extra mile’ To be open to feedback, ideas and to positive change and promote fulfilment and fun To be good citizens within our communities and take responsibility for our impact on our planet To be innovative and entrepreneurial To treat everyone with dignity and respect To be a team that succeeds together and aims to be an ‘employer of choice’.

Our Commitment to Shareholders

Results Highlights

Delivering growth

Adjusted earnings per share

Aim to deliver double-digit three year compound annual growth

Through organic growth and acquisitions

  • 2018:

    26.0

  • 2019:

    33.4

  • 2020:

    33.0

  • 2021:

    22.2

  • (7.7)

    2022:

Adjusted earnings/(loss) per share(a), (b) (cents)
FY2022 reported diluted (loss)/earnings per share (3.3c) (FY2021: 8.4c)

Revenue

$965.1m

FY2021: $873.2m

Adjusted (loss)/profit before tax(a)

$(1.3)m

FY2021: $32.8m (restated)(b)

Reported profit before tax

$2.2m

FY2021: $14.7m

Generating cash

Average leverage

Sustain long-term average leverage below 2.0x

Provides capacity for future investment

  • 2018:

    1.6x

  • 2019:

    1.4x

  • 2020:

    0.9x

  • 2021:

    0.0x

  • 2022:

    1.0x

Average leverage(a), (b)

Adjusted EBITDA(a)

$38.3m

FY2021: $73.3m (restated)(b)

Average bank debt

$17.2m

FY2021: $2.2m

Improving returns

Dividend

Trend upwards until 2.5x covered (40% pay out)

Increased shareholder distributions

  • 2018:

    6.00

  • 2019:

    8.50

  • 2020:

    8.75

  • 2021:

    8.75

  • 2022:

    1.25

2022: 1.25
Dividends (pence)

Cash conversion(a)

15.1%

FY2021: 93.2% (restated)(b)

Return on capital employed(a)

1.3%

FY2021: 15.8% (restated)(b)

Design Group

Our Business at a Glance

Revenue by customer destination

Americas
$665.1m


2021: $621.7m

  • 2022:

    69%

  • 2021:

    71%

International
$300.0m


2021: $251.5m

  • 2022:

    31%

  • 2021:

    29%

Revenue by source

Sourced

  • 2022:

    67%

  • 2021:

    67%

Manufactured In-house

  • 2022:

    33%

  • 2021:

    33%

Revenue by product

Celebrations

  • 2022:

    63%

  • 2021:

    60%

Craft & creative play

  • 2022:

    16%

  • 2021:

    18%

Gifting

  • 2022:

    10%

  • 2021:

    12%

‘Not-for-resale’ consumables

  • 2022:

    7%

  • 2021:

    6%

Stationery

  • 2022:

    4%

  • 2021:

    4%

Revenue by season

Everyday

  • 2022:

    53%

  • 2021:

    50%

Christmas

  • 2022:

    40%

  • 2021:

    43%

Minor

  • 2022:

    7%

  • 2021:

    7%

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