# SLA - SILK Laser Australia



## System (14 December 2020)

Founded in 2009, SILK is one of Australia’s largest specialist clinic networks, offering a range of non‑surgical aesthetic products and services.

SILK's five core offerings comprise laser hair removal, cosmetic injectables, skin treatments, body contouring and fat reduction services and Owned Brand skincare products.

SILK's mission is to enable all consumers to have access to high quality and high efficacy treatments. SILK aims to do this by providing high quality client service, using advanced technology, at affordable prices. SILK currently has 53 clinics in its network throughout metropolitan and regional Australia, with 37 clinics owned by SILK or operated as a joint venture, typically with a leading cosmetic injectable nurse, and 16 franchised clinics.

SILK clinics are typically located in a shopping centre or on a high street, with all clinics across the network utilising contemporary branding and a consistent design and layout. SILK has a strong presence on the west coast of Australia and growing operations in Queensland and New South Wales.

It is anticipated that SLK will list on the ASX during December 2020.






						Skin Treatments and Laser Clinics - SILK Laser Clinics
					

Skin love to last a lifetime. Experience the SILK Laser Clinics Difference with the best technology, best service at an affordable price. Enjoy the SILK Laser Clinics difference.




					silklaser.com.au


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## Dona Ferentes (15 July 2021)

Raised $83 million at IPO and had a recent (Jun 2021) $20 million placement to insto's 

SILK undertakes a $52 million strategic acquisition of Australian Skin Clinics and The Cosmetic Clinic in New Zealand, launches $20 million equity raising .

_Clinic footprint expands to 117 with strong foothold on Australian East Coast and scaled entry into Victorian and New Zealand market_s.

... And above IPO price (surprising for Covid times)


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## Dona Ferentes (26 August 2021)

SILK beats FY21 Prospectus forecasts and upgrades guidance 

     .... * Key FY21 highlights* (vs FY20):
_● Network cash sales up 68% to $85.1 million 
● Reported revenue up 82% to $58.9 million 
● Pro forma EBITDA up 180% to $17.3 million, 8% above upgraded guidance of $15 to 16 million 
● Underlying EBITDA up 128% to $14.8 million 
● Statutory NPAT up 123% to $5.2 million 
● Pro forma NPAT up 839% to $7.5 million 
● Cash ﬂow from operations up 125% to $23.8 million 
● 11 new SILK clinics opened in FY21, together with agreed $52 million acquisition of Australian Skin Clinics (ASC) / The Cosmetic Clinic (TCC) scaling Australian East Coast and New Zealand expansion eﬀorts; takes the clinic footprint to 116 
● Strong balance sheet with net cash of $44.1 million 
● Average customer spend increased 28% to $605, reﬂecting strong growth in the injectables and body categories._

_and, in a _run for the hills _moment, Private equity firm Advent Partners along with other pre-IPO investors whose stock was released from escrow on Wednesday have $33 million up for grabs at $3.70.  It is Thursday; no point in hanging around._


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## Dona Ferentes (30 August 2022)

Key FY22 highlights (vs FY21): 
_● Network cash sales up 91% to $162.7 million _
_● Reported revenue up 38% to $81.3 million 
● Adjusted EBITDA up 27% to $22.0 million  
● Statutory NPAT up 24% to $6.4 million 
● Adjusted NPAT up 27% to $9.6 million  
● 127 SILK clinics across network at 31 July 2022 (up from 61 at 30 June 2021)  _
_● Strong balance sheet with cash of $18.6 million, and net debt of $3.8 million_.  

It had been a volatile time for Silk Laser during the pandemic. The company benefited from Australians spending more money on personal grooming during COVID-19 restrictions when it was able to reopen after lockdowns, at a time when work-from-home was encouraged, leading to a phenomenon known as "Zoom face".

Mr Perelman said the past few months had been challenging because of absenteeism and having to operate at partial capacity sometimes, with only two or three “rooms” in the venues up and running when the full capacity was five rooms.

_.... Cosmetic surgery used to be a taboo subject. But now, you can talk about Botox and nobody raises an eyebrow._


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## Dona Ferentes (30 August 2022)

still underwater since listing. 

Have been cap raises to buy chains; Now at 127, SLA is aiming for a network of 150 outlets with the group aiming to reach that target by the end of calendar 2023, via more acquisitions and the opening of new stores


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