Revolution Beauty (REVB ), a fast growing, challenger brand that is on a mission to not only shake up the global $200bn cosmetics industry by offering high quality, make-up, hair/skincare & other mass market personal products at affordable prices. But also in turn, lift revenues more than 5-fold over the next 5 years to £1bn+ vs £194m LY (y/e Feb'22).
Sure this is challenging, yet equally I wouldn’t bet against the passion, commitment & entrepreneurial talent of the management team.
Here the company said today that it had appointed Elizabeth Lake (ex Everyman Media & Science in Sport) as the new Chief Financial Officer. With existing CFO Andrew Clark deciding to step-down after >3 years in the position - & staying until the end of July in order to enable a smooth handover (re prelims).
CEO Adam Minto commenting "Elizabeth has worked across some of the UK's top consumer & retail brands, and brings a deep understanding of the wider industry, as well as a strong track record leading the finance function at UK PLCs. I look forward to working together as we execute Revolution's strategy & continue to grow our market share around the world, while delivering meaningful shareholder value."
Elizabeth Lake, adding: "Revolution Beauty is a fantastic business. Team Revolution have delivered impressive growth and a clear strategy to further expand the business. Following recent acquisitions, and within a burgeoning global mass beauty market, Revolution Beauty's opportunity is bigger than ever."
Here, house broker Zeus Capital are forecasting FY’23 sales of £236.5m alongside £30.5m of EBITDA & 4.3p EPS, with
Feb’22 net debt (£5m) reversing to a net cash position of £18.1m 12 months’ later.
On top Zeus Capital have a 194p price target offering 68% potential upside. With the stock at 115p trading on CY
EV/EBITDA & PE multiples of 11.2x & 27.2x respectively - falling to 9x & 21x next.