• 12+ years of consistent revenue and EBIT growth
• Focused on the kitchen renovation market with a capital-light operating model
• Expanding showroom network and growing wardrobe business

The announcement provides an investor presentation on Joyce Corporation Ltd's KWB Group subsidiary. KWB Group was established in 2012 and has since experienced consistent revenue and EBIT growth, with a CAGR of 22% and 80% respectively over the past 12 years. The company is focused on the kitchen renovation market, which it sees as having significant growth potential. KWB operates a capital-light model, with no manufacturing and a flexible workforce of mostly contractors. The company has 27 showrooms across Queensland, New South Wales, and South Australia, and plans to expand this network further. It also sees growth opportunities in its wardrobe business, which it plans to roll out in New South Wales in FY28. The presentation highlights KWB's proprietary software and systems, its strong retail focus, and its defined and professional sales approach. The company's customer profile is family homeowners with a budget of $20,000 to $50,000 for kitchen renovations. KWB's marketing strategy involves inspiring showrooms, focused and measurable advertising, and a presence in 'A' class homemaker centres. The presentation also discusses the overall growth outlook for the kitchen renovation market, noting factors such as rising house prices and homeowner equity that support the strong value proposition of kitchen renovations.

For 1HY FY25, KWB Group reported revenue of $59.2 million, gross margin of 52%, and EBIT of $12.7 million.

KWB Group plans to continue driving revenue and EBIT growth through network expansion and increasing category attachment. The company sees significant market size and growth potential in the kitchen renovation market, with plans to expand its showroom network to 51 locations across Australia.