Esr 2022 Share Discussion Threads

[chickendinner1] 21/1/2021 20:07

This trash will be lower tomorrow

[sharetips] 21/1/2021 17:20

a solid update according to cityconfidential - share price fall unwarranted

[geemantw] 21/1/2021 14:20

Costs of website upgrade are in the past, and £8m cash is the same (and will be higher once Boots' money arrives in the bank. Benefits of website re-jig are ahead of us. Wider product range and we look fwd to the continuation of online shopping popularity / by necessity. Should be an excellent 2021 (unless you're a chicken dinner of course). share price will be approaching 6p again in advance of March 17th / 18th (earlier if there's a TR1 or we hear that CC topped up her shares).

[chickendinner1] 21/1/2021 10:44

It is a pump and dump

[outlawinvestor] 21/1/2021 09:48

This is just a blip.

I think this is actually "well played market makers". Repeat experience shows that freeloaders pile in prior to a scheduled update and sell on the update. MMs who have long been low on stock managed to clean house and restock a bit. In a few days/weeks the freeloaders will move on in search of an easier free lunch.

Otherwise, great results! Good reading they are satisfied enough with UK operations and now working ahead on expansion plans.

[clocktower] 21/1/2021 09:33

Decent H2 growth and as you say niggle still £8 million cash stash.

This is just a blip.

[niggle] 21/1/2021 09:23

katsy lol

Not a bad update. I don’t know what else people were expecting tbh. Decent update with better cash position.

[chickendinner1] 21/1/2021 09:05

Sub 1p coming

[chickendinner1] 21/1/2021 09:03

Knew this pig would go down lol

[napoleon 14th] 21/1/2021 09:01

Positive update; Early markdown to sub 5p won't last IMO.
I hold.

[katsy] 21/1/2021 08:32

you beat me to it by 1min

[katsy] 21/1/2021 08:30

EVE Live PriceLast checked at 08:30:12
Eve Sleep plc: Trading Statement

Thu, 21st Jan 2021 07:00

Eve Sleep plc (EVE) Eve Sleep plc: Trading Statement 21-Jan-2021 / 07:00 GMT/BST Dissemination of a Regulatory Announcement that contains inside information according to REGULATION (EU) No 596/2014 (MAR), transmitted by EQS Group. The issuer is solely responsible for the content of this announcement.

This announcement contains inside information



Trading update



18% sales growth in H2, exceeded twice raised expectations for 2020



eve Sleep ("eve", the "Company), the direct to consumer sleep wellness brand operating in the UK, Ireland (together "UK&I") and France announces a trading update for the full year ended 31 December 2020. All figures remain subject to audit.



Strategic and operational highlights


Winner of the best two mattresses in the UK according to Which? and 3 of the top 5 Extended the sleep wellness ranges with new bedframes, sleep gifts and bedding Entry into sleep gifts market with launch of 'well slept' range online and in partnership with Boots UK seeing strong success Launched retail partnership in France with Olivier Desforges Re-platformed the UK&I websites to Shopify, with the French website also completed post year end, to secure a more stable, scalable and lower maintenance website Upgraded supply chains to localise manufacturing for both markets ahead of Brexit Restructure of warehousing and distribution to allow shipments to customers to be consolidated into one delivery, deriving lower costs and better customer experience Invested in new Channel 4 TV campaign 'Switch off with eve sleep' running every Sunday night from early November



Financial highlights


Revenue increased 6% to £25.2m (2019: £23.8m), driven by 18% growth in H2 Record trading over black Friday period and the first week of the Boxing day sales EBITDA losses cut by 81% to £2.0m (2019: EBITDA loss of £10.7m) Closing net cash at 31 December 2020 of £8.3m (2019: £8m), bolstered by £0.3m of tax payments deferred until after the year end



Strong 2020 performance



eve has exited 2020 in far better shape than it entered the year and now has a more resilient and efficient technology, logistics and operational platform ready for future growth. Losses have been reduced throughout the year, ahead of initial expectations, through a focus on profitable sales channels and product mix improvements, including taking the decision to exit Amazon UK from September. The Company has also maintained its tight control of overheads and a continued focus on improving marketing efficiency and effectiveness, on a marketing budget, which was 51% lower year-on-year. The focus and driver of the results this year has been the UK business, with the French business being at an earlier stage in its development.



The business has undoubtedly benefitted from the accelerated shift to e-commerce and the current strength of the homewares category as a result of the pandemic. A focus on strengthening and widening the product set, with new sleep wellness products including a weighted blanket and the introduction of a sleep gifts range has also given broader brand presence. In addition the business has improved its mattress range resulting in Which? now recognizing eve's original hybrid and premium hybrid as the two best mattresses in the UK - supporting further growth. Together, these factors have driven an 18% year-on-year increase in revenues in the second half of the year, benefitting from the additional UK 'switch off with eve Sleep' TV campaign from November. The strength of trading was evident across the product set, with particular growth in premium products, particularly the Premium Hybrid mattress and the Spindle bedframe. These are two of the highest priced products in the mattress and bed frame ranges, showing the increasing strength of the eve brand.



As stated in eve's interim results of 15 September 2020, the industry has experienced some upward pressure on raw material and component pricing, as well as supply constraints due to global chemical shortages. With these inflationary pressures continuing through the fourth quarter eve took the decision in November to put through modest price increases in order to sustain margins. Thanks to the increasing strength of the eve brand, with reducing price elasticity in the more premium products, these price increases have not adversely impacted the rate of sale. Whilst the inflationary impact has been negated for now, supply shortages remained an issue for the industry through the fourth quarter.



2021 trading and outlook

Trading in the first few weeks of the year has started well and is following the same positive trends seen in recent months. The availability of raw materials and component supply remains an industry issue and a potential limiting factor on near term growth. At this time the Company has not experienced any material cost/duty increases as a direct result of Brexit, though there has been some slowing of the pace of deliveries to Ireland and Northern Ireland resulting from courier related issues. eve will continue to closely monitor the situation but does not expect any material full year impact at this time.

2021 will be the year eve transitions from the rebuild strategy, which commenced in the second half of 2018, to focus on growth opportunities in the UK and beyond in order to build a stronger, broader and larger, profitable business. Expansion will be managed in a controlled and disciplined manner, with the initial focus for investment on the Company's existing French market. Having already completed the restructuring of the French business and its cost structures, the Company is now ready to invest in both its B2C and retail sales channels, adopting many of the same strategies that have been deployed successfully to scale the UK business, including its first new TV campaign in three years. The investment required to scale the French business will come from the Company's existing cash resources.



The Company plans to publish its full year audited results on 18 March 2021.



Cheryl Calverley, CEO of eve Sleep commented:



"Our business reset is largely complete and our growth has accelerated more quickly than we initially anticipated as a result of the shift to online and the current strength of the homewares market. We have exceeded our financial expectations for 2020, which were raised twice during the year, extended our product ranges, opened new sales channels, increased brand awareness, presence and recognition, with the winning of the Which? awards, and improved the strength and resilience of our technology, logistics and operations platforms. This is entirely down to the tireless dedication, creativity and commitment of our team, who moved seamlessly to home working from March, without the need to furlough staff or make redundancies. I take my hat off to each and every one of them.



In 2021 we will invest in growth initiatives across our business, particularly in France, where we see good opportunities to scale, whilst continuing to build on the current UK momentum. We are confident in the near-term outlook and although there is a high level of uncertainty as to the macro-economic backdrop and spending habits of consumers in the second half of the year, we have entered the new financial period with a much improved proposition, a stronger Balance Sheet and a more resilient business."

[niggle] 21/1/2021 08:29

Reported full year EBITDA loss of £2m - you can read it on LSE

Trading update



18% sales growth in H2, exceeded twice raised expectations for 2020


eve Sleep ("eve", the "Company), the direct to consumer sleep wellness brand operating in the UK, Ireland (together "UK&I") and France announces a trading update for the full year ended 31 December 2020. All figures remain subject to audit.

Strategic and operational highlights

Winner of the best two mattresses in the UK according to Which? and 3 of the top 5
Extended the sleep wellness ranges with new bedframes, sleep gifts and bedding
Entry into sleep gifts market with launch of 'well slept' range online and in partnership with Boots UK seeing strong success
Launched retail partnership in France with Olivier Desforges
Re-platformed the UK&I websites to Shopify, with the French website also completed post year end, to secure a more stable, scalable and lower maintenance website
Upgraded supply chains to localise manufacturing for both markets ahead of Brexit
Restructure of warehousing and distribution to allow shipments to customers to be consolidated into one delivery, deriving lower costs and better customer experience
Invested in new Channel 4 TV campaign 'Switch off with eve sleep' running every Sunday night from early November

Financial highlights

Revenue increased 6% to £25.2m (2019: £23.8m), driven by 18% growth in H2
Record trading over black Friday period and the first week of the Boxing day sales
EBITDA losses cut by 81% to £2.0m (2019: EBITDA loss of £10.7m)
Closing net cash at 31 December 2020 of £8.3m (2019: £8m), bolstered by £0.3m of tax payments deferred until after the year end

Strong 2020 performance

eve has exited 2020 in far better shape than it entered the year and now has a more resilient and efficient technology, logistics and operational platform ready for future growth. Losses have been reduced throughout the year, ahead of initial expectations, through a focus on profitable sales channels and product mix improvements, including taking the decision to exit Amazon UK from September. The Company has also maintained its tight control of overheads and a continued focus on improving marketing efficiency and effectiveness, on a marketing budget, which was 51% lower year-on-year. The focus and driver of the results this year has been the UK business, with the French business being at an earlier stage in its development.

The business has undoubtedly benefitted from the accelerated shift to e-commerce and the current strength of the homewares category as a result of the pandemic. A focus on strengthening and widening the product set, with new sleep wellness products including a weighted blanket and the introduction of a sleep gifts range has also given broader brand presence. In addition the business has improved its mattress range resulting in Which? now recognizing eve's original hybrid and premium hybrid as the two best mattresses in the UK - supporting further growth. Together, these factors have driven an 18% year-on-year increase in revenues in the second half of the year, benefitting from the additional UK 'switch off with eve Sleep' TV campaign from November. The strength of trading was evident across the product set, with particular growth in premium products, particularly the Premium Hybrid mattress and the Spindle bedframe. These are two of the highest priced products in the mattress and bed frame ranges, showing the increasing strength of the eve brand.

As stated in eve's interim results of 15 September 2020, the industry has experienced some upward pressure on raw material and component pricing, as well as supply constraints due to global chemical shortages. With these inflationary pressures continuing through the fourth quarter eve took the decision in November to put through modest price increases in order to sustain margins. Thanks to the increasing strength of the eve brand, with reducing price elasticity in the more premium products, these price increases have not adversely impacted the rate of sale. Whilst the inflationary impact has been negated for now, supply shortages remained an issue for the industry through the fourth quarter.

2021 trading and outlook

Trading in the first few weeks of the year has started well and is following the same positive trends seen in recent months. The availability of raw materials and component supply remains an industry issue and a potential limiting factor on near term growth. At this time the Company has not experienced any material cost/duty increases as a direct result of Brexit, though there has been some slowing of the pace of deliveries to Ireland and Northern Ireland resulting from courier related issues. eve will continue to closely monitor the situation but does not expect any material full year impact at this time.

2021 will be the year eve transitions from the rebuild strategy, which commenced in the second half of 2018, to focus on growth opportunities in the UK and beyond in order to build a stronger, broader and larger, profitable business. Expansion will be managed in a controlled and disciplined manner, with the initial focus for investment on the Company's existing French market. Having already completed the restructuring of the French business and its cost structures, the Company is now ready to invest in both its B2C and retail sales channels, adopting many of the same strategies that have been deployed successfully to scale the UK business, including its first new TV campaign in three years. The investment required to scale the French business will come from the Company's existing cash resources.

The Company plans to publish its full year audited results on 18 March 2021.

Cheryl Calverley, CEO of eve Sleep commented:

"Our business reset is largely complete and our growth has accelerated more quickly than we initially anticipated as a result of the shift to online and the current strength of the homewares market. We have exceeded our financial expectations for 2020, which were raised twice during the year, extended our product ranges, opened new sales channels, increased brand awareness, presence and recognition, with the winning of the Which? awards, and improved the strength and resilience of our technology, logistics and operations platforms. This is entirely down to the tireless dedication, creativity and commitment of our team, who moved seamlessly to home working from March, without the need to furlough staff or make redundancies. I take my hat off to each and every one of them.

In 2021 we will invest in growth initiatives across our business, particularly in France, where we see good opportunities to scale, whilst continuing to build on the current UK momentum. We are confident in the near-term outlook and although there is a high level of uncertainty as to the macro-economic backdrop and spending habits of consumers in the second half of the year, we have entered the new financial period with a much improved proposition, a stronger Balance Sheet and a more resilient business."


For enquiries, please contact:

eve Sleep plc

Cheryl Calverley, Chief Executive Officer

Tim Parfitt, Chief Financial Officer



via M7 Communications LTD

finnCap Ltd - Nominated Adviser and Broker

Matt Goode / Ed Whiley - Corporate Finance

Alice Lane - Equity Capital Markets

Tel: [phone]



M7 Communications LTD - PR/IR

Mark Reed

Tel: [phone]

[niggle] 21/1/2021 08:25

Just not in ADVFN 🤷🏻‍♂️

[katsy] 21/1/2021 08:25

very strange trading today, can only assume ADVFN are not showing the RNS

[niggle] 21/1/2021 08:19

No results out? Thought they were today?

[babbler] 21/1/2021 07:53

It was 8m. So suck it.

[che7win] 21/1/2021 07:37

Pleasing update, cash remaining flat.

[mikro1] 20/1/2021 19:56

I am very curious to see the results tomorrow. The CEO tends to under promise and over deliver. I’m hoping that will be the case again.

[chickendinner1] 19/1/2021 12:07

Flawed business model worth 2p a share

[chickendinner1] 19/1/2021 12:06

Pump and dump

[niggle] 19/1/2021 08:45

CD & CD1 is best filtered & ignored.

Q4 results on the 21st so let’s see. I’m looking for even the slightest glimmer of profitability.

[chickendinner1] 18/1/2021 13:51

You are here ? What a t055 pot you are lol

[danvestment] 18/1/2021 10:53

Chicken Dinner - Are you talking to yourself? - there's no one else here!

[chickendinner1] 15/1/2021 08:44

Pump and dump