• 10.1% revenue growth against resilient consumer demand
• Double-digit revenue growth across all three Theatres, led by strong Coffee category
• Gross Margin held steady at 36.7% with 10.3% Gross Profit growth

Breville Group Limited (BRG) reported a solid half-year ended 31 December 2024, with revenue growing 10.1% to $997.5 million and EBIT increasing 10.5% to $144.8 million. The Group's Global Product segment revenue grew 12.1% (13.0% in constant currency), with double-digit growth across all three Theatres (Americas, APAC, and EMEA) led by strong performance in the Coffee category. Gross Margin remained steady at 36.7%, with Gross Profit growing 10.3%. NPAT increased 16.1% to $97.5 million, driven by lower interest costs. The Group's net debt position improved to $55.1 million, down from $97.5 million in the prior corresponding period. Breville tactically pulled forward some 2H25 US inventory as a hedge against potential tariffs, while all other countries held inventory broadly flat. The Group enters the second half with good momentum, a strong new product pipeline, and continued expansion into new markets. For FY25, Breville expects to deliver EBIT growth of 5%-10%, subject to no significant changes in economic conditions, supply chain interruptions, or changes to the Group's investment levels.

For FY25, Breville expects to deliver EBIT growth of between 5%-10%, subject to no significant changes in economic conditions, supply chain interruptions, or changes to the Group's investment levels into marketing, R&D, and technology.

Breville enters the second half with good momentum, a strong new product pipeline, and continued expansion into new markets, including direct entry into the Middle East and China. The Group will also continue to adapt and adjust its operations as US trade policy evolves, particularly with China.