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Thread: Kathmandu IPO

  1. #1581
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    its a trade till its Post Pandemic.

  2. #1582
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    Maybe on the rise now, surely sales were up during the last qtr. Hopefully a good report to be had.

  3. #1583
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    rading Update

    12/2/2021, 9:37 amMKTUPDTEKATHMANDU HOLDINGS LIMITED

    ASX / NZX / MEDIA ANNOUNCEMENT

    12 February 2021

    Record Rip Curl performance underpins operating profit improvement and validates the diversification strategy of the Group

    • Half year sales growth reflects the successful integration of Rip Curl and the benefit of a diversified portfolio of brands
    • Group EBITDA (1) (unaudited) above last year
    • Rip Curl achieved substantial sales growth in key global markets despite COVID-19 disruptions, with strong wholesale orders for the second half year
    • Kathmandu sales impacted by low demand for insulation and rainwear resulting from the lack of international travelers to the Northern Hemisphere
    • Oboz sales above last year driven by product innovation, with order book well above pre-COVID-19 levels

    Kathmandu Holdings Limited (NZX / ASX: KMD) (the Group) today provides the following update on its unaudited trading performance for the six months ended 31 January 2021 (1H FY21).

    Group total sales for 1H FY21 were c.+12% above last year, including a full six month contribution from Rip Curl. EBITDA is expected to be in the range of $47 million to $49 million, including government subsidies and the realisation of cost synergies. Group Net Debt is expected to be c.$7 million following careful working capital management and the $207m capital raise in 2020.

    On a pro-forma basis (relative to the same period last year including three months of Rip Curl pre-acquisition):

    • Group direct to consumer same store sales, including online, for the 27 full weeks ended 31 January 2021:
    o -10.3% adjusted for lockdown closures (2), with Rip Curl +21.0% and Kathmandu -30.0%
    o -18.5% unadjusted, with Rip Curl +7.4% and Kathmandu -35.4%
    o Online represents 13.0% of direct to consumer sales, up from 8.9% last year
    • Group wholesale sales for the six months ended 31 January 2021 were only -11.5% below the same period last year despite April / May COVID-19 lockdowns significantly impacting the sell-in period, with Rip Curl -15.0%, and Oboz +3.8%.

    During the half, trade at a number of the Group’s stores continued to be disrupted by COVID-19. 60 Greater Melbourne stores were closed for over 11 weeks during the second lockdown, and 14 Auckland stores were closed for over two weeks. Trading in Greater Sydney was affected over the Christmas period by the Northern Beaches outbreak. Airport stores in Australia as well as Rip Curl stores in Hawaii, Bali and Europe are still impacted adversely by either COVID-19 related travel restrictions or government mandated lockdowns and closures.

    Commenting on the result, Group CEO Xavier Simonet said:
    “Our improved first half operating profit underlines the resilience of our Group and validates the diversification strategy, launched through the successful acquisitions and integrations of Rip Curl and Oboz.”

    “Rip Curl’s record first half performance highlights the strength of its brand and quality technical products. Rip Curl’s direct to consumer business will now begin the Northern Hemisphere summer with strong momentum. Forward orders for the Rip Curl wholesale business are above pre-COVID-19 levels, with encouraging early indications for future seasons.”

    “Kathmandu enjoyed robust sales growth in camping categories, with renewed interest in local travel and adventure activities within Australia and New Zealand. However, its performance was heavily impacted by low demand for insulation and rainwear resulting from the lack of international travelers to the Northern Hemisphere. To put the first half performance in context, Kathmandu’s profit weighting has historically been heavily weighted to the second half year, when winter in Australasia drives demand for insulation and rainwear.”

    “Oboz have delivered sales growth year on year, with the product innovation strategy pursued by the new Oboz management team reflecting in the forward order book, which is tracking well above pre-COVID-19 levels.”

    Following the resignation of Group CEO Xavier Simonet, the Board has initiated a search process for his replacement. Mr. Simonet continues to work through his six-month notice period.

    The Group intends to release the full result for the half year on Tuesday 23 March 2021. An announcement regarding dividend resumption will be made at that time.
    - ENDS -

  4. #1584
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    Update seems to say without Rip Curl and Oboz and wage subsidies Kathmandu would be in dire straights
    When investors are euphoric, they are incapable of recognizing euphoria itself.

  5. #1585
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    *Sniff* "Dividend Resumption"


    Hahahahaha .. Yeah right cobber -- less bits in the very bottom of a larger pot being spread twice as far ..

    but then most already suspected that would be the case ..
    ... the fine art of sniffing out debits & credits hidden under the carpet can pay dividends ...

  6. #1586
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    better in the second half eh? (from Kathmandu itself)
    For clarity, nothing I say is advice....

  7. #1587
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    Bought some today and looking for more later this week if removal from ASX300 causes dump

  8. #1588
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    Rod Duke doesn't seem that excited about Kathmandu

    Jury out on whether Rip Curl is working and with the managing director going ne questions if their focus and capacity to compete exists ......and he is a bit coy and what Briscoes are going to do with their holding.

    From Businessdesk
    When investors are euphoric, they are incapable of recognizing euphoria itself.

  9. #1589
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    Quote Originally Posted by winner69 View Post
    Rod Duke doesn't seem that excited about Kathmandu

    Jury out on whether Rip Curl is working and with the managing director going ne questions if their focus and capacity to compete exists ......and he is a bit coy and what Briscoes are going to do with their holding.

    From Businessdesk

    perhaps he should have looked at a fairly sizeable position in HLG instead
    then there may have been large winners all round ..
    ... the fine art of sniffing out debits & credits hidden under the carpet can pay dividends ...

  10. #1590
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    Stellar result and great buying last week

  11. #1591
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    we had a pile on sale and had to BUY BACK IN.

    we love this stocks liquidity . And RIP CURL polar neck tops were the best,

    Opening a stall in sweden in 2023.

  12. #1592
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    Quote Originally Posted by Entrep View Post
    Stellar result and great buying last week
    Not sure I would call it "stellar", but yes, it was promising and so much better than the year before. Looks like they got the corner, and hey - they are even back paying a divie, even if it is (in NZ) not imputed. Positive outlook - winter is coming and tourism no doubt will improve compared to the year gone by.

    Discl: happy holder;
    ----
    "Prediction is very difficult, especially about the future" (Niels Bohr)

  13. #1593
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    Quote Originally Posted by winner69 View Post
    Rod Duke doesn't seem that excited about Kathmandu

    Jury out on whether Rip Curl is working and with the managing director going ne questions if their focus and capacity to compete exists ......and he is a bit coy and what Briscoes are going to do with their holding.

    From Businessdesk
    Of course Rod is excited but not revealing his hand. ... classic buyer strategy

  14. #1594
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    Quote Originally Posted by Habits View Post
    Of course Rod is excited but not revealing his hand. ... classic buyer strategy
    Seeing the Kathmandu stores are losing money he could take them of them cheap and leave the Rip Curl / Oboz as a stand alone global company without the hassles of retailing.

    Rod wouldn't want those bits would he?
    When investors are euphoric, they are incapable of recognizing euphoria itself.

  15. #1595
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    SP up two to 140... consolidated, looking stronger

  16. #1596
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    Closed up on high volume, almost 6m shares... someone is accumulating

  17. #1597
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    yes we dont have enough of them.

    well done to those who bought big at the cap raise and average 70 and under..

    you are the BRAVE ONES!

    (CNBC Brave Ones).

  18. #1598
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    Travel will return and you will see people from all over the world come here. Of course i may well be going the other way and passing them.

    Of course the girl from Czechoslovakia wont be bringing her friends back as she got shot at in gisborne that night, but others will and they will shop at KMD.

    Rod Duke Dreaming of surfing the rip Curl wave. is he a long board man is he?.
    Last edited by Waltzingironmansinlgescul; 08-04-2021 at 08:46 PM.

  19. #1599
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    Maybe time they got it on with Papa Surf from AFT.

  20. #1600
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    As I thought -- double the number of shares translates into half the Prior Interim div 2.0 cps AUD
    with no imputation credits (the standard KMD Interim pattern)

    Not bad in the circumstances I guess .. normalised FY I guess Final 4.0 - 5.0 with Imp Credits
    assuming post covid trading bubble effects have been shaken out of the rug to get there ..
    Last edited by nztx; 08-04-2021 at 10:03 PM. Reason: add more
    ... the fine art of sniffing out debits & credits hidden under the carpet can pay dividends ...

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