24 Nov

Retail Trading Update

1 Harvey Norman Holdings Limited A.C.N. 003 237 545 A1 RICHMOND ROAD HOMEBUSH WEST N.S.W. 2140 LOCKED BAG 2 SILVERWATER DC, N.S.W 1811 Telephone: (02) 9201 6111 Facsimile: (02) 9201 6250 24 November 2021 Australian Securities Exchange Limited Exchange Centre 20 Bridge Street SYDNEY NSW 2000 The Directors of Harvey Norman Holdings Limited announce that the aggregated sales revenue from Harvey Norman ® wholly-owned company-operated stores in New Zealand, Slovenia, Croatia, Ireland and Northern Ireland, majority-owned controlled company-operated stores in Singapore and Malaysia, and from independent Harvey Norman ® , Domayne ® a n d Joyce Mayne ® branded franchised complexes in Australia* (Aggregated Sales) decreased by -8.8% for the period 1 July 2021 to 21 November 2021 when compared to Aggregated Sales for the period 1 July 2020 to 21 November 2020. Comparable Aggregated Sales for the period 1 July 2021 to 21 November 2021 when compared to the previous corresponding period, decreased by -9.6%. Aggregated Sales have been negatively affected by a 2.9% depreciation in the Euro (€), a 1.7% depreciation in the Singaporean dollar ($SGD) and a 2.9% depreciation in the Malaysian Ringgit (MYR) offset by a 2.7% appreciation in the New Zealand dollar ($NZD) and a 3.0% appreciation in the UK Pound (£GBP) for the period 1 July 2021 to 21 November 2021 compared to the period 1 July 2020 to 21 November 2020. Aggregated Sales increased by 16.9% for the period 1 July 2021 to 21 November 2021 when compared to Aggregated Sales for the period 1 July 2019 to 21 November 2019. Comparable Aggregated Sales for the period 1 July 2021 to 21 November 2021 when compared to the period 1 July 2019 to 21 November 2019, increased by 15.4%. * Sales made by franchisees in Australia are not made by Harvey Norman Holdings Limited or its controlled entities. During the current period, two new franchised complexes were opened in Murwillumbah, New South Wales (opening delayed to September 2021 due to NSW lockdowns) and in Port Pirie, South Australia (opened 11 November 2021). There were no new company-operated store openings or closures in overseas regions. RETAIL TRADING UPDATE: AGGREGATED SALES REVENUE FOR THE PERIOD 1 July 2021 to 21 November 2021 vs 1 July 2020 to 21 November 2020 DOWN -8.8% AGGREGATED SALES REVENUE FOR THE PERIOD 1 July 2021 to 21 November 2021 vs 1 July 2019 to 21 November 2019 UP 16.9% UNAUDITED PRELIMINARY PROFIT BEFORE TAX & NON- CONTROLLING INTERESTS for the consolidated entity for the period 1 July 2021 to 31 October 2021 vs 1 July 2020 to 31 October 2020 DOWN -35.5% and UP 70.1% when compared to the period 1 July 2019 to 31 October 2019 2 Unaudited preliminary accounts for the consolidated entity for the period 1 July 2021 to 31 October 2021 indicate profit before tax and non-controlling interests of $217.42 million compared to $337.11 million for the period 1 July 2020 to 31 October 2020, a decrease of approximately -35.5%. When compared to profit before tax and non-controlling interests for the period 1 July 2019 to 31 October 2019 of $127.84 million, unaudited preliminary profit of $217.42 million for the period 1 July 2021 to 31 October 2021 has increased by approximately 70.1%. This disclosure is not intended to constitute earnings guidance. The Company does not provide earnings guidance. The COVID-19 pandemic has caused, and continues to cause, great uncertainty about the future economy. AGGREGATED SALES REVENUE BY COUNTRY Aggregated Sales increase / (decrease) in Australian Dollars $A – TOTAL SALES: Aggregated Sales increase / (decrease) from 1 July 2021 to 21 November 2021 vs 1 July 2020 to 21 November 2020 1 and 1 July 2021 to 21 November 2021 vs 1 July 2019 to 21 November 2019 (% increases have been calculated in Australian Dollars $A) 1 comparable sales growth has not been adjusted for the temporary closures mandated by each local government as a result of their COVID-19 Response COUNTRY 1 July 2021 to 21 November 2021 vs 1 July 2020 to 21 November 2020 1 July 2021 to 21 November 2021 vs 1 July 2019 to 21 November 2019 Total % Comparable % Total % Comparable % Australian Franchisees (-11.3) (-11.1) 15.0 16.1 New Zealand (-5.3) (-5.7) 13.4 12.1 Slovenia & Croatia 2.7 (-4.1) 26.4 18.0 Ireland 5.5 1.3 71.8 55.6 Northern Ireland 5.8 5.8 23.6 23.6 Singapore 4.9 (-2.3) 8.0 (-3.9) Malaysia (-15.1) (-24.6) (-9.4) (-29.2) Aggregated Sales increase / (decrease) in Local Currencies – TOTAL SALES: Aggregated Sales increase / (decrease) from 1 July 2021 to 21 November 2021 vs 1 July 2020 to 21 November 2020 1 and 1 July 2021 to 21 November 2021 vs 1 July 2019 to 21 November 2019 (% increases have been calculated in local currencies) 1 comparable sales growth has not been adjusted for the temporary closures mandated by each local government as a result of their COVID-19 Response COUNTRY (% increase calculated in local currencies) 1 July 2021 to 21 November 2021 vs 1 July 2020 to 21 November 2020 1 July 2021 to 21 November 2021 vs 1 July 2019 to 21 November 2019 Total % Comparable % Total % Comparable % Australian Franchisees $A (-11.3) (-11.1) 15.0 16.1 New Zealand $NZD (-7.8) (-8.1) 11.9 10.6 Slovenia & Croatia €Euro 5.9 (-1.1) 29.0 20.5 Ireland €Euro 8.9 4.5 75.6 59.0 Northern Ireland £GBP 3.0 3.0 21.3 21.3 Singapore $SGD 6.8 (-0.6) 14.5 1.9 Malaysia MYR (-12.7) (-22.6) (-2.3) (-23.6) Rolling lockdowns in most States and Territories of Australia have affected sales in the months of July 2021 through to November 2021, even though Contactless Click & Collect and home delivery were operating for customers from 194 Australian franchised complexes. Over 15 million people, or approximately 58% of the Australian population, were in lockdown from July 2021 until the respective State Governments eased lockdown restrictions upon reaching certain vaccination milestones. 3 TABLE 1 AUSTRALIA: Government Mandated Temporary Closure Dates 1 July 2021 to 21 November 2021 Affected Product Category Date Closed Date Re-opened Australian Franchised Complexes: Franchised Complexes in Victoria (VIC) 39 Franchised Complexes All product categories in the 39 Harvey Norman® and Domayne® franchised complexes across VIC 16/07/21 28/07/21 17 Franchised Complexes All product categories in the 17 Harvey Norman® and Domayne® franchised complexes in greater Melbourne, VIC 06/08/21 29/10/21 22 Franchised Complexes All product categories in the 22 Harvey Norman® franchised complexes across regional VIC 06/08/21 10/08/21 21/08/21 From 10/09/21 1 Franchised Complex All product categories in the Harvey Norman® franchised complex at Ballarat 15/09/21 23/09/21 2 Franchised Complexes All product categories in the 2 Harvey Norman® franchised complexes in the City of Greater Geelong 20/09/21 27/09/21 3 Franchised Complexes All product categories in the 3 Harvey Norman® franchised complexes in the City of Latrobe 29/09/21 06/10/21 1 Franchised Complex All product categories in the Harvey Norman® franchised complex at Shepparton 01/10/21 09/10/21 1 Franchised Complex All product categories in the Harvey Norman® franchised complex at Mildura 10/10/21 22/10/21 Online Trade Online permitted - all product categories open Franchised Complexes in South Australia (SA) 10 Franchised Complexes Furniture & bedding categories in the 10 Harvey Norman® franchised complexes in SA 20/07/21 28/07/21 Computer & electrical categories in the 10 Harvey Norman® franchised complexes in SA 21/07/21 23/07/21 Online Trade Online permitted - all product categories open Franchised Complexes in New South Wales (NSW) 29 Franchised Complexes Furniture & bedding categories in the 29 Harvey Norman®, Domayne® and Joyce Mayne® franchised complexes across Sydney, Blue Mountains, Central Coast, Wollongong & Shellharbour LGAs of NSW 18/07/21 11/10/21 Computer & electrical categories in the 29 Harvey Norman®, Domayne® and Joyce Mayne® franchised complexes across Sydney, Blue Mountains, Central Coast, Wollongong & Shellharbour LGAs of NSW 24/07/21 11/10/21 12 Franchised Complexes All product categories in the 12 Harvey Norman® and Domayne® franchised complexes within specific regional NSW LGAs From 05/08/21 From 11/09/21 30 Franchised Complexes All product categories in the 30 Harvey Norman®, Domayne® and Joyce Mayne® franchised complexes within the remaining regional NSW LGAs From 15/08/21 From 11/09/21 The mandatory temporary COVID-19 closures imposed by each local government from 1 July 2021 to 21 November 2021 are outlined in Table 1 for Australian Franchised Complexes and Table 2 for Overseas Company-Operated Stores below. Comparable sales in the previous corresponding period were not adjusted for the effect of these mandated temporary closures. 4 TABLE 1 AUSTRALIA: Government Mandated Temporary Closure Dates 1 July 2021 to 21 November 2021 (continued) Affected Product Category Date Closed Date Re-opened Australian Franchised Complexes: Franchised Complexes in New South Wales (NSW) (continued) 2 Franchised Complexes All product categories in the 2 Harvey Norman® franchised complexes at Albury and Lismore 16/09/21 23/09/21 1 Franchised Complex All product categories in the Harvey Norman® franchised complex at Young 18/09/21 01/10/21 2 Franchised Complexes All product categories in the 2 Harvey Norman® franchised complexes at Murwillumbah and Tweed Heads 22/09/21 29/09/21 2 Franchised Complexes All product categories in the 2 Harvey Norman® franchised complexes at Port Macquarie and Muswellbroo k 29/09/21 From 05/10/21 1 Franchised Complex All product categories in the Harvey Norman® franchised complex at Lismore 03/10/21 11/10/21 3 Franchised Complexes All product categories in the 3 Harvey Norman® franchised complexes at Gunnedah, Taree and Forster 04/10/21 11/10/21 Online Trade Online permitted - all product categories open Franchised Complexes in Australian Capital Territory (ACT) 2 Franchised Complexes All categories at the Harvey Norman® Fyshwick complex and the furniture & bedding categories at the Domayne ® Fyshwick complex 13/08/21 22/10/21 Online Trade Online permitted - all product categories open Franchised Complexes in Northern Territory (NT) 2 Franchised Complexes All product categories at the Harvey Norman® and Joyce Mayne® Darwin complexes 16/08/21 19/08/21 Online Trade Online permitted - all product categories open Franchised Complexes in Tasmania (TAS) 4 Franchised Complexes All product categories in the 4 Harvey Norman® and Domayne® franchised complexes across Southern Tasmania 16/10/21 19/10/21 Online Trade Online permitted - all product categories open 5 TABLE 2 OVERSEAS: Government Mandated Temporary Closure Dates 1 July 2021 to 21 November 2021 Affected Product Category Date Closed Date Re-opened Overseas Company-Operated Stores: New Zealand 9 Retail Stores and 4 Outlets - Auckland All product categories in the 9 retail stores and 4 outlets in Auckland. 18/08/21 10/11/21 Online Trade – Auckland Online permitted - all product categories for contactless home delivery only. Click & Collect not permitted. 18/08/21 21/09/21 (Click & Collect permitted from 22/09/21) 27 Retail Stores and 3 Outlets – Outside Auckland All product categories in the 27 retail stores and 3 outlets outside of Auckland. 18/08/21 Commenced limited opening to customers from 07/09/21 Online Trade – Outside Auckland Online permitted - all product categories for contactless home delivery only. Click & Collect not permitted. 18/08/21 31/08/21 (Click & Collect permitted from 01/09/21) Malaysia 26 Retail Stores All product categories in the 26 retail stores in Malaysia 01/06/21 Commenced limited opening to customers from 21/08/21 Online Trade Online permitted - all product categories open Singapore 14 Retail Stores Retail trade permitted - all product categories open Online Trade Online permitted - all product categories open Republic of Ireland 15 Retail Stores Retail trade permitted - all product categories open Online Trade Online permitted - all product categories open Northern Ireland 2 Retail Stores Retail trade permitted - all product categories open Online Trade Online permitted - all product categories open Slovenia 5 Retail Stores Retail trade permitted - all product categories open Online Trade Online permitted - all product categories open Croatia 2 Retail Stores Retail trade permitted - all product categories open Online Trade Online permitted - all product categories open This document was authorised to be provided to the ASX by the Board of Directors of Harvey Norman Holdings Limited. Yours faithfully Chris Mentis Company Secretary / CFO
Information on this Website is provided for general information purposes only and is not a substitute for professional advice. ASX Information (including company announcements and prices) is delayed by at least 20 minutes. JSE Information (including company announcements and prices) is delayed by at least 15 minutes. Reliance on the information you access on or from this Website is solely at your own risk. We make no representation or warranty in relation to the future performance of the companies that appear on this Website. Investment in securities involves risk and you should obtain independent professional legal, financial, investment or company advice before acting on any of the information you access on this Website. Using, browsing or otherwise accessing this Website is subject to our Terms and Conditions and our Privacy Policy.

© 2021 Listcorp. ABN 60 166 140 307

Never miss news from Harvey Norman (ASX:HVN) when you join Listcorp.