Annual Report & Accounts
For the year ended 31 December 2017 The Hut Group Limited.Company Number 06539496
Contents
Highlights
2
Group International Sales
3
Strategic Report
4
Directors' Report
40
Independent Auditor's Report to the
44
members of The Hut Group Ltd
Consolidated Statement of
46
Comprehensive Income
Consolidated Statement of Financial Position
47
Consolidated Statement of Changes in Equity
48
Consolidated Statement of Cash Flows
49
Notes to the Financial Statements
50
Company Only Financial Statements
78
Company Balance Sheet
80
Company Statement of Changes in Equity
81
Notes to the Company Financial Statements
82
+47%
228M
+38%
600M
Revenue
2017
2016
2015
In Strategic Investments
EBITDA
Bank Facility
From May 2018
Highlights
Group International Sales
70%
63%
50%
UK
International
2
3
Annual Report and Accounts 2017
Strategic report
Shareholders
Name
%
Matthew Moulding & Controlled Management Equity1
26.7
Kohlberg Kravis Roberts & Co
15.0
Balderton Capital
14.3
Sofina Partners S.A.
9.0
Oliver Nobahar-Cookson (held via Offshore Trust)
7.7
BlackRock Funds
7.5
Old Mutual
7.4
Others
12.4
100.0
Fully diluted shareholding of any party with a 5% or greater shareholding
in THG (as at 31 March 2018)
1 Matthew Moulding has the beneficial interest in 20% of the 26.7% shareholding,
although he has full control of the whole 26.7%
5
4
Progress in 2017
2017 has been another year of explosive growth for THG,
powered by our proprietary technology ecosystem,
Ingenuity. Revenue has grown by 47% to 736m and
EBITDA by 38% to 69m (9% of sales).
We continue to deliver on our strategy of driving
rapid internationalisation with 70% of our sales
coming from outside the UK, a year-on-year increase
of 7% and we further developed the THG Brands
business with 58% of sales from our own brands.
To accelerate the development of the THG model we
carefully selected acquisitions in key vertical markets,
investing 164m in strategic acquisitions this year.
We enhanced Ingenuity 's end-to-end capabil