2019 Annual Report
KATHMANDU HOLDINGS LIMITED Annual Report 2019 KATHMANDU ANNUAL REPORT 2019 1 At Kathmandu, our purpose is to inspire and equip the adventurer in all of us. For 30 years, we have designed our gear to take on the rugged landscapes of our homeland and to outt the adventurous spirit of our people. With Kiwi ingenuity, and an open mind, we continuously adapt our gear to endure dierent weather conditions, diverse terrains, and the ever- changing needs of travellers. Sustainability is in our DNA. We act with people and the planet in mind – from the creative minds of our designers, to the careful hands of our suppliers, to the backs of our customers all around the world. We’re adventurers, explorers and travellers – every one of us. From our team in-store to our brand ambassadors, athletes and Summit Club members, we share a curiosity for the world we love to explore. We believe that adventure begins when you pack your bag. Purpose. Our 2 KATHMANDU ANNUAL REPORT 2019 Highlights 2019 Sales $ Same store sales growth 545.6m 0.6% 9.7% AU 2.7% NZ (3.9%) Gross margin Operating costs % of sales 60.9% 42.9% AU 50bps NZ 90bps NA 40.8% 2.5% lower than 2018 EBIT $ Net prot after tax $ 84.3m 57.6 m 12.7% 13.7% Full year dividend Operating cash ow $ 16cps 61.7m 1 cps $13.9m Online % of direct to consumer sales Summit Club members 10.1% 2.2m 9.2% online sales growth at 0.2m active members constant exchange rates KATHMANDU ANNUAL REPORT 2019 3 4 KATHMANDU ANNUAL REPORT 2019 Contents 5 Chairman and CEO’s Letter 7 Result and Financial Performance 10 Sustainability Highlights 12 The Board 13 Management Team 14 Corporate Governance 23 Remuneration Report 31 Financial Statements 79 Statutory Information 84 Directory Notice of Annual Meeting 2019 11.00am Friday 22 November 2019 Link Market Services, Level 11, Deloitte Centre, 80 Queen Street, Auckland CHAIRMAN AND CEO'S LETTER KATHMANDU ANNUAL REPORT 2019 5 Chairman and CEO’s Letter We have delivered another year of strategy can be summarised into record sales and prot.
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