• 10.1% revenue growth against backdrop of resilient consumer demand
• Gross Margin % held steady, growing Gross Profit by 10.3%
• EBIT growth of 10.5% with expenses growth aligned to Gross Profit growth
• NPAT growth of 16.1% with lower interest cost arising from strong FY24 cash generation
• Low leverage and strong cashflow provides funding flexibility for further expansion

Breville Group reported a solid half year performance, with 10.1% revenue growth against a backdrop of resilient consumer demand. Gross Margin % held steady, growing Gross Profit by 10.3%, and expenses growth was aligned to Gross Profit growth, delivering 10.5% EBIT growth. NPAT grew 16.1% with lower interest cost arising from strong FY24 cash generation. The company's net debt position improved to $55.1m, and it has low leverage and strong cashflow, providing funding flexibility for further expansion. All three of Breville's geographic segments - Americas, APAC, and EMEA - delivered double-digit constant currency revenue growth. The company's Global Product segment saw solid double-digit sales growth, with strong performance in Coffee and Cooking, partially offset by a small single-digit decline in Food Preparation. Breville also provided a tactical pull forward of 2H25 inventory in the US as a hedge against potential tariff increases, while aggregate inventory balances in other countries remained broadly flat. The company highlighted its Beanz coffee service, which has shipped over 1.3 million bags of coffee to over 145,000 customers, and its plans for geographic expansion into the Middle East and China. New product launches, including the premium Oracle Jet espresso machine and a new metallics range, were also discussed. Looking ahead, Breville expects FY25 EBIT growth to be in the range of 5% to 10%, assuming no significant change in economic conditions or material supply chain interruptions, and taking into account expected 2H25 investment levels.

Breville expects FY25 EBIT growth to be in the range of 5% to 10%, assuming no significant change in economic conditions or material supply chain interruptions, and taking into account expected 2H25 investment levels.

Breville highlighted that it expects markets to stabilize in 2H25, with consumers and retailers in a good inventory position. The company's coffee category is expected to continue leading performance, with ovens performing well and other subcategories finding their footing. Breville's new product launches in 2H25 are also expected to deliver as expected. The company is moving its 120v (US products) production out of China, with 40% of its purchases exposed to the China-US trading pair as of July 1, 2025, expected to drop to around 10% by January 1, 2026.