F UL L YE AR RE SUL T S F OR T HE YE AR E NDE D 31 - - PowerPoint PPT Presentation

F UL L YE AR RE SUL T S

F OR T HE YE AR E NDE D 31 AUGUST 2017

17 OCT OBE R 2017

1

INT RODUCT ION

NICK BE IGHT ON – CE

O

2

F Y 2017 HIGHL IGHT S

 Gro up sa le s +33%, PBT +26% to £80.0m

 T

• ta l re ta il sa le s* +34%: UK

+16%, E U +45%, US +46%, Ro W +52%

 All K PI me tric s impro ving  Ma jo r inve stme nt pro g ra mme s pro g re ssing to pla n  Ve lo c ity is a c c e le ra ting ;

 1,300 te c h re le a se s  200 de live ry so lutio ns impro ve me nts

 Stro ng mo me ntum, c o nfide nt in o utlo o k

* Re po rte d b a sis

3

F INANCIAL S

HE L E N ASHT ON – CF

O

4

INVE ST ME NT SAL E S GROWT H PROF IT

1,143.0 1,444.9 1,923.6

18% 26% 33%

F Y 2015 F Y 2016 F Y 2017 Sa le s Sa le s g ro wth

INVE ST ME NT CONT INUE S T O DRIVE ST RONG SAL E S GROWT H

PROVE N T RACK RE CORD OF RE INVE ST ING PROF IT T O GE NE RAT E HIGH L E VE L S OF SAL E S GROWT H

IMPROVING T OT AL SAL E S T RAJE CT ORY ST ABL E PROF IT MARGINS

No te : All 2015 a nd 2016 P&L fig ure s ha ve b e e n re sta te d to e xc lude e xc e ptio na l ite ms a nd disc o ntinue d o pe ra tio ns in China . All numb e rs sub je c t to ro unding .

ROIC 2

30.7% 46.8% 42.9%

F Y 2015 F Y 2016 F Y 2017

(£m)

46.1 63.0 79.6

4.0% 4.4% 4.1%

F Y 2015 F Y 2016 F Y 2017 E BI T E BI T ma rg in

1E

BI T = e arning s b e fo re inte re st, tax and e xc e ptio nal ite ms and disc o ntinue d o pe ratio ns

2ROI

C = pro fit b e fo re inte re st, e xc e ptio nal ite ms and disc o ntinue d o pe ratio ns b ut afte r tax, divide d b y ave rag e inve ste d c apital (ne t asse ts minus c ash b alanc e and he dg ing re se rve ) 1

5

1Co nstant c urre nc y has b e e n c alc ulate d to take into ac c o unt he dg e d rate mo ve me nts o n he dg e d sale s and spo t rate mo ve me nts o n unhe dg e d sale s

43% 37% 57% 63%

F Y 2016 F Y 2017

UK I NT 'L

F Y 2016 F Y 2017 F Y 2016 F Y 2017 F Y 2016 F Y 2017 F Y 2016 F Y 2017 F Y 2016 F Y 2017

1,876.5 1,403.7 603.8 698.2 179.2 261.6 374.9 544.1 245.8 372.6 799.9 1,178.3

(£m)

ST RONG SAL E S GROWT H DRIVE N BY INT E RNAT IONAL

R E POR T E D R E T AIL SAL E S GR OWT H 34% 16% 46% 45% 52% 47% CCY1 GR OWT H 27% 16% 31% 34% 42% 36% GROUP UK INT E RNAT IONAL US E U ROW T OT AL

No te : All 2016 P&L fig ure s ha ve b e e n re sta te d to e xc lude disc o ntinue d o pe ra tio ns in China whic h ma de a ne t lo ss b e fo re ta x a nd e xc e ptio na l ite ms o f £10.1m in the c o mpa ra tive pe rio d. All numb e rs sub je c t to ro unding .

6

T RADING ST ANCE DE L IVE RS ST RONG F UL L PRICE MIX… .

GROUP RE T AIL GROSS MARGIN MOVE ME NT S

F Y 2017 Group tota l UK US E U RoW Inte rna tiona l tota l

Gro ss pro fit £958.3m £330.6m £164.6m £262.6m £200.5m £627.7m Gro wth 33% 12% 47% 46% 47% 47% Re ta il g ro ss ma rg in 48.6% 44.2% 60.4% 46.3% 51.8% 51.1% Gro wth 10b ps (100b ps) 110b ps 30b ps (90b ps) 10b ps Gro ss ma rg in 49.8% 45.9% 61.4% 47.3% 52.7% 52.2% Gro wth (20b ps) (120b ps) 80b ps 30b ps (120b ps)

• No te : All 2016 P&L

fig ure s ha ve b e e n re sta te d to e xc lude disc o ntinue d o pe ra tio ns in China whic h ma de a ne t lo ss b e fo re ta x a nd e xc e ptio na l ite ms o f £10.1m in the c o mpa ra tive pe rio d. All numb e rs sub je c t to ro unding .

… F UNDING RE INVE ST ME NT ACROSS A- L IST AND INT E RNAT IONAL PRICE POINT S

48.5% 48.6%

FY 2016 Full price mix & Clearance depth Net FX tailwinds Price I nvestments & A-List Branded/ OB mix FY 2017

7

INVE ST ING T O UNL OCK F UT URE GROWT H

DIST RIBUT ION COST S WARE HOUSE MARKE T ING OT HE R COST S

(15.6% ) (14.9% ) (70bps) (8.8% ) (7.9% ) (90bps) (4.5% ) (5.3% ) 80bps (16.8% ) (17.5% ) 70bps

F Y 2017 % of SAL E S F Y 2016 % of SAL E S CHANGE

No te : All 2016 P&L fig ure s ha ve b e e n re sta te d to e xc lude disc o ntinue d o pe ra tio ns in China whic h ma de a ne t lo ss b e fo re ta x a nd e xc e ptio na l ite ms o f £10.1m in the c o mpa ra tive pe rio d. All numb e rs sub je c t to ro unding .

F Y 2018 OUT L OOK

8

ST AT E ME NT OF F INANCIAL POSIT ION

£m At 31 August 2017

At 31 Aug ust 2016 Go o d will a nd o the r inta ng ib le a sse ts

178.0

113.5 Pro pe rty, pla nt a nd e q uipme nt

137.4

77.2 De riva tive fina nc ia l a sse ts

1.3

• De fe rre d ta x a sse t

9.2

13.3

Non- c ur r e nt asse ts 325.9

204.0 Sto c k

323.3

257.7 Ne t c urre nt pa ya b le s

(452.1)

(355.7) Ca sh a nd c a sh e q uiva le nts

160.3

173.3 De riva tive fina nc ia l lia b ilitie s

(64.5)

(76.0) Curre nt ta x lia b ility

(5.8)

(2.9)

Ne t asse ts 287.1

200.4

9

* Othe r inc lude s share -b ase d payme nts, purc hase o f share s b y E mplo ye e Be ne fit T rust, ne t inte re st re c e ive d, tax paid and o the r no n-c ash ite ms

ST RONG CASH POSIT ION

*

160.3 2.5 173.3 121.9 44.3 (161.5) (20.2) Opening cash EBI TDA Legal settlement Working capital Capex Other Closing cash £m

10

F Y 2016 F Y 2017 F Y 2018 Ba rnsle y E uro hub 2 US Hub Spa c e / F a c ilitie s T ra nsfo rma tio n I nfra struc ture T e c hno lo g y

INVE ST ING T O SUPPORT L ONG T E RM GROWT H

£200m-£220m £87m £168m

2018 T O BE PE AK CAPE X AS % OF SAL E S

11

F Y 18 GUIDANCE



F Y18 RE POR T E D SAL E S GUIDANCEOF

25-30% 

RE T AIL MARGIN GUIDANCE

OF UP T O 100 BPS IMPROVE ME NT 

CAPE X GUIDANCE

AT £200-£220m 

T AX RAT E GUIDANCE

UNCHANGE D AT c .100 BPS ABOVE ST AT UT ORY RAT E  ROIC T O CONT INUE T O E XCE E D OUR 25% T ARGE T

12

BUSINE SS RE VIE W

NICK BE IGHT ON – CE

O

13

Whic h ma ke s o ur b usine ss a nd o ur b ra nd d iffe re ntia te d , d e sira b le a nd d e fe nd a b le

T

• g ive yo u the

c o nfide nc e to b e who e ve r yo u wa nt to b e Cre a ting a nd c ura ting the mo st re le va nt pro duc t fo r fa shio n lo ving 20 so me thing s Suppo rting o ur c usto me rs,

• ur te a m a nd o ur pa rtne rs

to re a lise the ir po te ntia l Offe ring a fric tio n fre e e xpe rie nc e a t e ve ry sta g e o f the jo urne y

T

• be c ome

the world’s numbe r one de stina tion for fa shion loving 20 some thing s

ASOS DE F E NDABL E PIL L ARS…

14

OUR UNIQUE PRODUCT

 c . 85,000+ line s

 c . 5,000 ne w style s a dde d e ve ry we e k

 ASOS Bra nd

 E xpa nding ra ng e s  F a c e + Bo dy  ASOS . 4505

 Ve nture Bra nds

 Re c la ime d Vinta g e , No a k, He a rt & Da g g e r, Cro o ke d T

• ng ue s

 200 ne w b ra nds a dde d, 200 b ra nds e xite d  T a le nt @ ASOS

CRE AT ING AND CURAT ING T HE MOST RE L E VANT PRODUCT F OR F ASHION-L OVING 20-SOME T HINGS

15

F ACE + BODY @ ASOS

 Cha ng ing wa y c a te g o ry pre se nte d a nd sho ppe d  Inc re me nta l wa lle t o ppo rtunity  Ma rke t Oppo rtunity: pro je c tio n £450b n p.a . g lo b a lly b y 2020

WE L COME T O A MORE PL AYF UL RE AL IT Y

16

ACT IVE CUST OME RS

+24%

VISIT S

+24%

BRAND E XPE RIE NCE & E NGAGE ME NT T HROUGH CONT E NT

ORDE RS

+30%

AVE RAGE BASKE T VAL UE

+2%

AVE RAGE ORDE R F RE QUE NCY

+5%

17

RE L E NT L E SS INNOVAT ION IN DE L IVE RY SOL UT IONS

Spe e d Conve nie nc e  L a unc he d ASOS Insta nt into L

• ndo n

 UK Clic k & Co lle c t lo c a tio ns inc re a se d to 9,000 a nd e xte nde d o rde r c ut o ff time to 7pm  Re duc e d sta nda rd de live ry in Ita ly a nd Spa in to 4 da ys  L a unc he d Clic k & Co lle c t into US a nd Ita ly, a dding 11,000 lo c a tio ns  Intro duc e d Sa turda y o rde ring c ut o ff fo r Mo nda y de live ry in ke y E uro pe a n ma rke ts  T ra c k & T ra c e live in c usto me rs a c c o unts se c tio n  Sa turda y la unc he d a s sta nda rd de live ry pro mise in UK  DPD ‘ Pre dic t’ e xte nde d to Ge rma ny pro viding inflig ht no tific a tio ns, de live ry windo ws a nd o ptio ns

>200 de live r

y so lutio ns impr

• ve me nts o ve r

the last 12 mo nths MUCH MORE T O COME …

18

BUIL DING GL OBAL CAPACIT Y F OR > 50 MIL L ION UNIT S

Bar nsle y, UK

Distrib utio n Ce ntre F ully Auto ma te d 20 millio n units 22 millio n units 2018

Se lby, UK

Re turns Pro c e ssing

Swie bodzin, Poland

Re turns Pro c e ssing

Poznan, Poland

Re turns Pro c e ssing L ive fro m Oc to b e r 2017

US Hub

Atla nta , US Distrib utio n Ce ntre 10 millio n units H2 2018 F urthe r e xpa nsio n po ssib le

Columbus, US

Distrib utio n Ce ntre 1millio n units

Sydne y, Austr alia

Re turns Co nso lida tio n

E ur

• Hub

Be rlin, Ge rma ny Distrib utio n Ce ntre 10 millio n units 20 millio n units H1 2019 CAPACIT Y F OR c .£4 BIL L ION OF NE T SAL E S

19

ASOS T E CH IS POWE RING GROWT H

 Ne w pla tfo rm ro lle d o ut

 F a st & F le xib le – 1,300 individua l re le a se s  33 o rde rs pe r se c o nd during pe a k

 Ma jo r pro g ra mme upda te

 T ruly Glo b a l Re ta il (T GR)  Glo b a l fulfilme nt pro g ra mme

 F urthe r c usto me r impro ve me nts

 Style Ma tc h & F it Assista nt  Pe rso na lisa tio n  Re fre she d site na vig a tio n

 Inno va tive & Cre a tive to o ur c o re

 AI Bo t  AR (Be a uty a pp b e ta , 3D mo de ls)

 Ne w L a ng ua g e s/ Site s/ Pa yme nt Me tho ds

BUIL DING T HE F L E XIBIL IT Y AND AGIL IT Y T O ST AY AHE AD OF T HE CURVE

20

ASOSE R’S: POWE R OF OUR PE OPL E

 Pro te c ting o ur uniq ue c ulture  Be ing true to o ur va lue s  Attra c ting ta le nt a nd inve sting in o ur pe o ple  Appre ntic e ships a nd Inte rn pro g ra mme s  T he Ac a de my

SUPPOR T ING OUR CUST OME RS, OUR T E AM AND OUR PART NE RS T O RE AL ISE T HE IR POT E NT IAL

21

F ASHION WIT H INT E GRIT Y

 Pro g re ss o n susta ina b le c o tto n usa g e a nd g re a te r tra nspa re nc y in c a rb o n e missio ns  ASOS Mo de rn Sla ve ry Sta te me nt  Circ ula r e c o no my c o mmitme nt  Ce le b ra ting dive rsity

SE T T ING T HE ST ANDARD F OR T RADING IN AN E T HICAL AND SUST AINABL E WAY

OUR COMMUNIT Y OUR CUST OME R OUR BUSINE SS OUR PRODUCT S

T ra nsform more live s Use le ss ne w pla stic Ce le bra te Dive rsity Sta rt c losing the loop

£1m

 Sig nific a nt pro g re ss a t Ba rnsle y  Glo b a l F ra me wo rk sig ne d with IndustriAll  Sig na to ry to UN Wo me n’ s E mpo we rme nt Princ iple s  Gre a te r tra nspa re nc y in o ur supply c ha ins

22

MARKE T OPPORT UNIT IE S

UK MARKE T POT E NT IAL

Appa r e l ma r ke t £47.5bn Online a ppa r e l £12.2bn Re ve nue £698.2m

16% 7% 29% CAGR (’ 12-’ 17)

E U MARKE T POT E NT IAL

CAGR (’ 12-’ 17)

Appa r e l ma r ke t £232.8bn Online a ppa r e l £34.7bn Re ve nue £544.1m

16% 6% 38%

US MARKE T POT E NT IAL

CAGR (’ 12-’ 17)

Appa r e l ma r ke t £299.1bn Online a ppa r e l £58.6bn Re ve nue £261.6m

19% 11% 46%

Sour c e: Co nlumino – to ta l a ppa re l a nd o nline a ppa re l fro m a ll c ha nne ls (c lo thing a nd fo o twe a r);

RoW MARKE T POT E NT IAL

CAGR (’ 12-’ 17)

Appa r e l ma r ke t £668.2bn Online a ppa r e l £83.1bn Re ve nue £372.6m

28% 10% 22%

Ac tive c ustome rs

5.2m (+11%) 2.1m (+24%) 5.7m (+33%) 2.4m (+41%)

% Visits on mobile

76.8% (+240b ps) 63.8% (+270b ps) 69.2% (+770b ps) 66.9% (+670b ps)

Orde rs g rowth

+18% +37% +41% +42%

Orde r fre que nc y

+7% +7% +7% +1%

Conve rsion

+10b ps +20b ps +20b ps +10b ps

Pre mie r g rowth

+35% +133% +193% n/ a

Ma rke t sha re

5.7% 0.4% 1.6% 0.4%

23

SUMMARY

 Stro ng mo me ntum c o ntinuing  F

• c using o n wha t de fine s a nd diffe re ntia te s

ASOS

 Custo me r e xpe rie nc e  T e c hno lo g y  L

• g istic s e xe c utio n

 Unle a shing inte rna l ta le nt  F a shio n with Inte g rity

 Me dium te rm g uida nc e  L

• o king to the future with c o nfide nc e

24

Q&A

Ple a se wa it fo r the mic ro pho ne a nd the n sta te yo ur na me a nd institutio n

25

APPE NDIX

26

769.4 970.1 1,143.0 1,444.9 1,923.6

F Y 2013 F Y 2014 F Y 2015 F Y 2016 F Y 2017

F IVE YE AR SUMMARY – 5 YE ARS T O 31 AUGUST 2017

(60bps) 48.9%

GROUP RE VE NUE (£M) GROSS PROF IT (£M) E BIT DA (£M) E BIT (£M)

39% 26% 18% 26% 33%

398.6 486.9 573.1 722.2 958.3

F Y 2013 F Y 2014 F Y 2015 F Y 2016 F Y 2017

41% 22% 18% 26% 33%

67.9 67.5 69.0 94.6 121.9

F Y 2013 F Y 2014 F Y 2015 F Y 2016 F Y 2017

22% (1% ) 2% 37% 29% YOY g ro wth ra te 19% (4% ) (12% ) 37% 26%

54.4 52.2 46.1 63.0 79.6

F Y 2013 F Y 2014 F Y 2015 F Y 2016 F Y 2017

No te : All c o mpa ra tive numb e rs e xc lude re sults fro m disc o ntinue d o pe ra tio ns in China a nd e xc e ptio na l ite ms. All numb e rs sub je c t to ro unding .

27

F IVE YE AR KPI SUMMARY – 5 YE ARS T O 31 AUGUST 2017

No te : All numb e rs sub je c t to ro unding

F Y 2013 F Y 2014 F Y 2015 F Y 2016 F Y 2017 Ac tive c ustome r s

7.1m (+42%) 8.8m (+25%) 9.9m (+13%) 12.4m (+25%) 15.4m (+24%)

Visits g r

• wth

+46% +20% +19% +22% +24%

% Visits on mobile

14.8% 46.9% (+3210b ps) 57.9% (+1100b ps) 65.5% (+760b ps) 70.3% (+480b ps)

Or de r s g r

• wth

+43% +31% +16% +30% +30%

Or de r fr e que nc y

+1% +4% +3% +4% +5%

Conve r sion

+10b ps +20b ps

• +10b ps

+20b ps

NPS1

N/ A N/ A 64 63 66

1Ne t Pro mo te r Sc o re as at 31 Aug ust - c urre nt me asure o nly applie d fro m F

Y 2015

28

OPE RAT IONAL KPIs

F Y16 F Y17 15.4m 12.4m 3.08 3.22 F Y16 F Y17 F Y16 F Y17 £25.16 £25.09 2.82 2.87 F Y16 F Y17 F Y16 F Y17 £72.24 £70.84

ACT IVE CUST OME RS ANNUAL ORDE R F RE QUE NCY AVE RAGE SE L L ING PRICE AVE RAGE UNIT S PE R BASKE T

+0%

AVE RAGE BASKE T VAL UE

F Y 2017 F Y 2017 F Y 2017 F Y 2017 F Y 2017 F Y 2016 F Y 2016 F Y 2016 F Y 2016 F Y 2016

29

ST AT E ME NT OF COMPRE HE NSIVE INCOME

F Y 2017 F Y 2016 Cha ng e % £m Re ve nue 1,923.6 1,444.9 33%

Co st o f sa le s (965.3) (722.7)

Gr

• ss pr
• fit

958.3 722.2 33%

Distrib utio n e xpe nse s (299.2) (216.0) (39%) Ad ministra tive e xpe nse s1 (579.5) (464.1) (25%)

Ope r a ting pr

• fit

79.6 42.1 89%

Ne t fina nc e inc o me 0.4 0.7

Pr

• fit be for

e ta x fr

• m c ontinuing ope r

a tions 80.0 42.8 87%

Inc o me ta x e xpe nse (15.9) (8.1)

Pr

• fit a fte r

ta x fr

• m c ontinuing ope r

a tions 64.1 34.7

E ffe c tive tax rate 19.9% 18.9%

L

• ss be for

e ta x fr

• m disc ontinue d ope r

a tions

• (10.1)

Inc o me ta x e xpe nse

• (0.2)

Pr

• fit a fte r

ta x fr

• m disc ontinuing ope r

a tions

• (10.3)

Gr

• up pr
• fit be for

e ta x 80.0 32.7 Gr

• up pr
• fit a fte r

ta x 64.1 24.4

E ffe c tive tax rate 19.9% 25.2%

1Administrative e xpe nse s inc lude no n-c ash share b ase d payme nt c harg e s o f £7.6m (2016: £4.5m)

No te F Y16 is afte r e xc e ptio nal ite ms o f £20.9m (inc luding le g al fe e s) re lating to the le g al se ttle me nt

30

F Y 2017 SAL E S GROWT H BY SE GME NT

F Y 2017 (£m) Gr

• up

tota l UK US E U RoW Inte r na tiona l tota l

Re ta il sa le s 1,876.5 698.2 261.6 544.1 372.6 1,178.3 Gro wth (%) 34% 16% 46% 45% 52% 47% Gro wth at c o nstant e xc hang e rate 1 (%) 27% 16% 31% 34% 42% 36% De live ry re c e ipts 40.8 16.1 6.3 10.8 7.6 24.7 Gro wth (%) 18% 5% 15% 48% 19% 29% T hird pa rty re ve nue s 6.3 6.0 0.2 0.1

• 0.3

Gro wth (%) (6%) (6%) 100%

• (100%)
• T
• ta l r

e ve nue s 1,923.6 720.3 268.1 555.0 380.2 1,203.3 Gr

• wth (%)

33% 15% 45% 45% 51% 47%

1Co nstant c urre nc y is c alc ulate d to take ac c o unt o f he dg e d rate mo ve me nts o n he dg e d sale s and spo t rate mo ve me nts o n unhe dg e d sale s

No te : All 2016 P&L fig ure s ha ve b e e n re sta te d to e xc lude disc o ntinue d o pe ra tio ns in China whic h ma de a ne t lo ss b e fo re ta x a nd e xc e ptio na l ite ms o f £10.1m in the c o mpa ra tive pe rio d. All numb e rs sub je c t to ro unding .

31

£m Four months to 31 December 2016 Growth Two months to 28 February 2017 Growth Four months to 30 June 2017 Growth Two months to 31 August 2017 Growth UK retail sales 244.0 18% 96.8 16% 234.6 16% 122.8 10% US retail sales 82.7 66% 41.6 54% 94.4 38% 42.9 26% EU retail sales 165.8 49% 83.1 46% 196.6 41% 98.6 46% ROW retail sales 113.2 46% 62.0 88% 134.5 54% 62.9 31% International retail sales 361.7 52% 186.7 60% 425.5 44% 204.4 37% Total retail sales 605.7 36% 283.5 42% 660.1 32% 327.2 25% Total group revenues 621.3 36% 290.2 41% 675.8 32% 336.3 25%

F Y17 SE GME NT AL SAL E S – RE PORT E D GROWT H

32

F Y17 SE GME NT AL SAL E S – CCY1 GROWT H

£m Four months to 31 December 2016 Growth Two months to 28 February 2017 Growth Four months to 30 June 2017 Growth Two months to 31 August 2017 Growth UK retail sales 244.0 18% 96.8 16% 234.6 16% 122.8 10% US retail sales 82.7 42% 41.6 34% 94.4 26% 42.9 21% EU retail sales 165.8 38% 83.1 36% 196.6 30% 98.6 36% ROW retail sales 113.2 44% 62.0 70% 134.5 41% 62.9 23% International retail sales 361.7 41% 186.7 45% 425.5 32% 204.4 28% Total retail sales 605.7 30% 283.5 33% 660.1 26% 327.2 21% Total group revenues 621.3 30% 290.2 32% 675.8 26% 336.3 20%

1Co nstant c urre nc y is c alc ulate d to take ac c o unt o f he dg e d rate mo ve me nts o n he dg e d sale s and spo t rate mo ve me nts o n unhe dg e d sale s

33

£m F Y 2017 % o f sale s F Y 2016 % o f sale s Change % Change in %

• f sale s

Distrib utio n c o sts

299.2 15.6%

216.0 14.9%

39% (70bps)

Pa yro ll a nd sta ff c o sts

1

162.8 8.5%

132.6 9.2%

23% 70bps

Wa re ho using

168.5 8.8%

114.3 7.9%

47% (90bps)

Ma rke ting

86.8 4.5%

76.6 5.3%

13% 80bps

Pro duc tio n

6.8 0.3%

6.3 0.4%

8% 10bps

T e c hno lo g y

35.1 1.8%

24.5 1.7%

43% (10bps)

Othe r o pe ra ting c o sts

77.2 4.0%

57.3 4.0%

35%

• De pre c ia tio n

42.3 2.2%

31.6 2.2%

34%

• T
• ta l Ope r

a ting c osts 878.7 45.7% 659.2 45.6% 33% (10bps)

T OT AL OPE RAT ING COST S

1I

nc lusive o f £7.6m no n-c ash share b ase d payme nt c harg e s (2016: £4.5m) No te : All 2016 P&L fig ure s ha ve b e e n re sta te d to e xc lude disc o ntinue d o pe ra tio ns in China whic h ma de a ne t lo ss b e fo re ta x a nd e xc e ptio na l ite ms o f £10.1m in the c o mpa ra tive pe rio d. All numb e rs sub je c t to ro unding .

34

F Y 2017 Gr

• up tota l

UK US E U RoW Inte r na tiona l T

• ta l

Gro ss pro fit e xc luding third pa rty re ve nue s (£m)

952.0 324.6 164.4 262.5 200.5 627.4

Distrib utio n c o sts (£m)

(299.2) (81.9) (69.2) (89.8) (58.3) (217.3)

T

• ta l c o ntrib utio n (£m)

652.8 242.7 95.2 172.7 142.2 410.1

Numb e r o f o rde rs (m)

49.6 22.3 5.2 15.7 6.4 27.3 Contr ibution pe r

• r

de r (£) 13.2 10.9 18.3 11.0 22.2 15.0

F Y 2016 c o ntrib utio n pe r o rde r (£) 13.0 11.4 17.1 11.3 20.8 14.6

Var ianc e 2% (4%) 7% (3%) 7% 3%

GL OBAL ORDE R CONT RIBUT ION ANAL YSIS

No te : All 2016 P&L fig ure s ha ve b e e n re sta te d to e xc lude disc o ntinue d o pe ra tio ns in China whic h ma de a ne t lo ss b e fo re ta x a nd e xc e ptio na l ite ms o f £10.1m in the c o mpa ra tive pe rio d. All numb e rs sub je c t to ro unding .

35

CONSOL IDAT E D ST AT E ME NT OF CASHF L OWS

£m F Y 2017

F Y 2016 Ope ra ting pro fit fro m c o ntinuing o pe ra tio ns

79.6

42.1 L

• ss b e fo re ta x fro m disc o ntinue d o pe ra tio ns
• (10.1)

Ope r a ting pr

• fit

79.6

32.0 De pre c ia tio n a nd a mo rtisa tio n

42.3

31.7 L

• ss o n dispo sa l o f no n-c urre nt a sse ts

0.5

5.1 Wo rking c a pita l

24.1

69.1 Sha re -b a se d pa yme nts c ha rg e

7.6

4.5 Othe r no n-c a sh ite ms

(0.6)

(1.7) T a x pa id

(7.6)

(10.0)

Ca sh inflow fr

• m ope r

a ting a c tivitie s 145.9

130.7 Ca pita l e xpe nditure

(161.5)

(79.2) Ne t c a sh inflo w re la ting to E BT

1

1.8

0.7 Ne t fina nc e inc o me re c e ive d

0.5

0.7

T

• ta l c a sh (outflow)/ inflow

(13.3)

52.9 Ope ning c a sh a nd c a sh e q uiva le nts

173.3

119.2 E ffe c t o f e xc ha ng e ra te s o n c a sh a nd c a sh e q uiva le nts

0.3

1.2

Closing c a sh a nd c a sh e quiva le nts 160.3

173.3

1E

mplo ye e Be ne fit T rust and Capita T rust

36

KE Y T E RMS AND DE F INIT IONS

Re ta il sa le s

Sa le s o f g o o ds thro ug h o ur inte rne t site s, ne t o f re turns

Gr

• up r

e ve nue s

Re ta il sa le s, de live ry re c e ipts a nd third pa rty re ve nue s

Ne t funds

Ca sh a nd c a sh e q uiva le nts le ss b a nk b o rro wing s

Ave r a g e ba ske t va lue

T

• ta l o rde r va lue inc luding VAT

a nd e xc luding re turns, divide d b y to ta l o rde rs

Ave r a g e units pe r ba ske t

T

• ta l o rde rs divide d b y to ta l units so ld, e xc luding re turns

Ave r a g e se lling pr ic e pe r unit

T

• ta l o rde r va lue inc luding VATa nd e xc luding re turns, divide d b y to ta l units so ld

Ac tive c ustome r s

Custo me rs who ha ve sho ppe d with ASOS during the la st 12 mo nths, a s a t 31 Aug ust

L a bour c ost pe r unit (L CPU)

Ba rnsle y wa re ho use la b o ur c o sts divide d b y units pro c e sse d; e xc lude s no n-la b o ur wa re ho use c o sts

Re tur n on inve ste d c a pita l

Pro fit b e fo re inte re st, e xc e ptio na l ite ms a nd disc o ntinue d o pe ra tio ns b ut a fte r ta x, divide d b y a ve ra g e inve ste d c a pita l (ne t a sse ts minus c a sh b a la nc e a nd he dg ing re se rve )

37

F INANCIAL CAL E NDAR AND CONF E RE NCE PART ICIPAT ION

Da te E ve nt

17 Oc to b e r F ull Ye a r Re sults 17 Oc to b e r o nwa rds F ull Ye a r Re sults UK a nd US Ro a dsho w 7 No ve mb e r So c ie te Ge ne ra le , T he E uro pe a n E SG/ SRI Co nfe re nc e , Pa ris 10 No ve mb e r De utsc he Ba nk, Re ta il Ro und T a b le , L

• ndo n

13-14 No ve mb e r JP Mo rg a n, Glo b a l T MT Co nfe re nc e , Ho ng K

• ng

15-17 No ve mb e r Mo rg a n Sta nle y, E uro pe a n T e c hno lo g y, Me dia & T e le c o m Co nfe re nc e , Ba rc e lo na 28-29 No ve mb e r Be re nb e rg , We st Co a st Co nsume r Co nfe re nc e , Sa n F ra nc isc o

30 Nove mbe r Annua l Ge ne r a l Me e ting 2017

7 De c e mb e r Be re nb e rg , E uro pe a n Co nsume r Co nfe re nc e , Surre y 11 De c e mb e r Ba rc la ys, E uro pe a n Re ta il F

• rum, L
• ndo n

11 Ja nua r y* P1 T r a ding Upda te

*Date sub je c t to re visio n

38

F

• r

war d looking state me nts:

T his a nno unc e me nt ma y inc lude sta te me nts tha t a re , o r ma y b e de e me d to b e , "fo rwa rd-lo o king sta te me nts" (inc luding wo rds suc h a s "b e lie ve ", "e xpe c t", "e stima te ", "inte nd", "a ntic ipa te " a nd wo rds o f simila r me a ning ). By the ir na ture , fo rwa rd-lo o king sta te me nts invo lve risk a nd unc e rta inty sinc e the y re la te to future e ve nts a nd c irc umsta nc e s, a nd a c tua l re sults ma y, a nd o fte n do , diffe r ma te ria lly fro m a ny fo rwa rd-lo o king sta te me nts. Any fo rwa rd-lo o king sta te me nts in this a nno unc e me nt re fle c t ma na g e me nt's vie w with re spe c t to future e ve nts a s a t the da te o f this a nno unc e me nt. Sa ve a s re q uire d b y a pplic a b le la w, the Co mpa ny unde rta ke s no o b lig a tio n to pub lic ly re vise a ny fo rwa rd-lo o king sta te me nts in this a nno unc e me nt, whe the r fo llo wing a ny c ha ng e in its e xpe c ta tio ns o r to re fle c t e ve nts o r c irc umsta nc e s a fte r the da te o f this a nno unc e me nt.

Disc laime r :

T his pre se nta tio n a nd info rma tio n c o mmunic a te d ve rb a lly to yo u ma y c o nta in c e rta in pro je c tio ns a nd o the r fo rwa rd-lo o king sta te me nts with re spe c t to the fina nc ia l c o nditio n, re sults o f o pe ra tio ns, b usine sse s a nd pro spe c ts o f ASOS plc (“ ASOS”). T he se sta te me nts a re b a se d o n c urre nt e xpe c ta tio ns a nd invo lve risk a nd unc e rta inty b e c a use the y re la te to e ve nts a nd de pe nd upo n c irc umsta nc e s tha t ma y o r ma y no t o c c ur in the future . T he re a re a numb e r o f fa c to rs whic h c o uld c a use a c tua l re sults o r de ve lo pme nts to diffe r ma te ria lly fro m tho se e xpre sse d o r implie d b y the se fo rwa rd-lo o king sta te me nts. Any o f the a ssumptio ns unde rlying the se fo rwa rd-lo o king sta te me nts c o uld pro ve ina c c ura te o r inc o rre c t a nd the re fo re a ny re sults c o nte mpla te d in the fo rwa rd-lo o king sta te me nts ma y no t a c tua lly b e a c hie ve d. No thing c o nta ine d in this pre se nta tio n o r c o mmunic a te d ve rb a lly sho uld b e c o nstrue d a s a pro fit fo re c a st o r pro fit e stima te . Inve sto rs o r o the r re c ipie nts a re c a utio ne d no t to pla c e undue re lia nc e o n a ny fo rwa rd-lo o king sta te me nts c o nta ine d he re in. ASOS unde rta ke s no o b lig a tio n to upda te o r re vise (pub lic ly o r o the rwise ) a ny fo rwa rd-lo o king sta te me nt, whe the r a s a re sult o f ne w info rma tio n, future e ve nts o r o the r c irc umsta nc e s. Ne ithe r this pre se nta tio n no r a ny ve rb a l c o mmunic a tio n sha ll c o nstitute a n invita tio n o r induc e me nt to a ny pe rso n to sub sc rib e fo r o r o the rwise a c q uire se c uritie s in ASOS.

F ORWARD L OOKING ST AT E ME NT S AND DISCL AIME R