• Revenue of $48.1 million, up 6.8% vs pcp
• EBITDA of $11.2 million, up 10.4% vs pcp
• Interim dividend of 4.4 cents per share, fully franked

Step One Clothing Limited (ASX:STP), a leading online direct-to-consumer underwear brand, has announced its financial results for the six months ending 31 December 2024 (1H25). The company reported revenue of $48.1 million, representing a 6.8% increase compared to the prior corresponding period (1H24: $45.1 million). EBITDA increased by 10.4% to $11.2 million (1H24: $10.1 million), and the company maintained a strong financial position with closing cash of $43.8 million and no debt. Step One's Founder and CEO, Greg Taylor, highlighted the resilience of the business in delivering double-digit earnings growth despite global cost-of-living pressures. While customer acquisition softened, strong retention rates and increased order values underscored the effectiveness of the company's strategy. Step One's agility and direct marketing expertise enabled it to implement effective pricing and promotion strategies, gaining traction among value-conscious customers. The company also laid the foundation for future growth through the strategic expansion of its women's range, which now accounts for 14.8% of revenue (1H24: 13.1%). Step One's Board has declared an interim dividend of 4.4 cents per share, fully franked, representing a 100% payout ratio and a total distribution of $8.0 million. The company remains focused on balancing sales growth with profitability and will continue to adapt quickly to market conditions.