Retailer Overcomes Pandemic Challenges with Record Sales and EBITDA

  • Matalan’s revenue surpasses £1bn for the year ending February 2022
  • Revenue increased from £221.8m to £286.5m in the first 13 weeks of the current financial year
  • EBITDA post IFRS16 at £197.8m, up from £80.5m in the previous year
  • Restated EBITDA under IAS17 at £100.3m, compared to a loss of £21.5m in 2021
  • Strong closing cash position of £125.1m (up from £110.0m in 2021)
  • Employee count decreased from 11,558 to 10,837 during the year
  • Steve Johnson credits strong performance to large stores and online business growth
  • Online business turnover increased by over 50% since pandemic began

Matalan has reported a strong financial performance for the year ending February 2022, surpassing £1bn in revenue. The retailer’s revenue increased from £221.8m to £286.5m during the first 13 weeks of its current financial year. EBITDA post IFRS16 reached £197.8m, up from £80.5m in the previous year, while restated EBITDA under IAS17 was £100.3m compared to a loss of £21.5m in 2021. Matalan’s closing cash position stands at £125.1m (up from £110.0m). The number of employees decreased from 11,558 to 10,837 during the year. Executive Chairman Steve Johnson attributes this success to large stores and a significantly scaled online business that has grown its turnover by over 50% since the pandemic began.

Factuality Level: 10
Factuality Justification: The article provides accurate and objective information about Matalan’s financial performance, including revenue growth, EBITDA, cash position, and employee numbers. It also includes a quote from the executive chairman of Matalan discussing the challenges faced during the pandemic and the company’s online business growth.
Noise Level: 2
Noise Justification: The article provides relevant and accurate information about Matalan’s financial performance and growth during a challenging period, including revenue, EBITDA, and employee numbers. It also includes quotes from the executive chairman discussing the company’s strategy and performance in the context of the pandemic. The content is focused on the topic and supports its claims with specific figures.
Financial Relevance: Yes
Financial Markets Impacted: Matalan’s financial performance and stock price
Financial Rating Justification: The article discusses Matalan’s revenue, EBITDA, cash position, and employee count, which are all financial metrics relevant to the company’s financial health. It also mentions the impact of Covid-19 on the business and its recovery efforts.
Presence Of Extreme Event: No
Nature Of Extreme Event: Other
Impact Rating Of The Extreme Event: No
Extreme Rating Justification: There is no mention of an extreme event in the last 48 hours.

Reported publicly: www.retailsector.co.uk