Mosaic Brands 1H 2021 results

•  Underlying EBITDA* for the period of $45.1m up 38%.•Record online sales up 27% on the previous corresponding period, with online products available growing to over 350,000 SKUs as customers diversify purchasing behaviour.
•  Net Cash holdings up, closing on $65.3m from $5.4m in the PCP.
•  Strategy of margin growth results in -5.6% comp store margin against -15% comp store sales with statutory gross margin increasing to 61%**.
•  Group expects a return to sales growth on the back of COVID-19 vaccine tailwinds in FY22.

Notes: All amounts referenced exclude EziBuy contribution unless otherwise specifically stated.

*EBITDA is a non-AASB financial measure, defined for the purposes of this document as earnings before interest, tax, depreciation, amortisation, non-recurring income/expenditure and certain non-cash items such as share based payments and unrealised foreign exchange gains/losses and excludes restructure and acquisition costs and has been adjusted to normalise the impact of AASB16 accounting treatment.

** Gross margin adjusted for unrealised movements in foreign exchange