Supreme half-year report: ELFBAR and LOST MARY business revenue increased by 15% to £30.3 million

Supreme half-year report: ELFBAR and LOST MARY business revenue increased by 15% to £30.3 million

Supreme, a British e-cigarette distributor, reported a 2024 semi-annual financial report showing that total revenue increased by 8% to 113 million pounds, and e-cigarette category revenue decreased by 13% due to the upcoming ban on disposable e-cigarettes, of which ELFBAR and LOST MARY brand revenue increased to 30.3 million pounds.

 

According to Asian Trader on November 27, Supreme, a British e-cigarette distributor, released its semi-annual financial report as of September 30. The report showed that revenue increased by 8% year-on-year to 113 million pounds, compared with 105.1 million pounds in the same period last year.

The highlights of the report are as follows:

 

E-cigarette category revenue was 36.6 million pounds, down 13% from 42.1 million pounds in the same period last year. The decline was mainly due to Supreme's strategic adjustment to the disposable e-cigarette category ahead of the upcoming ban on disposable e-cigarettes in June 2025;

Disposable e-cigarette sales fell 56% to £4.4 million, while non-disposable product revenue remained stable at £32.2 million;

ELFBAR and LOST MARY disposable e-cigarette revenue totaled £30.3 million, up 15% from last year when only three months of distribution were available.

Adjusted earnings before interest, tax, depreciation and amortization (EBITDA) increased 22% to £18.5 million, driven by improved gross margins and tight control of expenses;

Supreme's non-e-cigarette annual revenue now exceeds £100 million, accounting for approximately 45% of the group's total revenue.

 

The company said Supreme will shift its focus to rechargeable cartridge systems, 10 ml e-cigarette oil refills and nicotine bags under its 88Nic brand. These measures are in line with expected regulatory changes and further strengthen Supreme's long-term commitment to supporting e-cigarettes as a smoking cessation tool.

 

Sandy Chadha, the company's CEO, said,

 

"Our strategic advantages and the initiative of our team put us in a good position for the upcoming changes in the UK e-cigarette industry. Non-disposable e-cigarettes account for the majority of our e-cigarette revenue, and we continue to achieve growth in 10 ml e-cigarette liquid refills."

 

"Through the acquisition of Clearly Drinks, we have achieved steady growth in all categories while diversifying our product portfolio. Incorporating well-known and trusted brands into Supreme's distribution network in the UK retail industry is at the core of our long-term growth strategy. This acquisition once again demonstrates our ability to quickly identify and execute M&A opportunities."

 

Supreme expects revenue of approximately £240 million and adjusted EBITDA of at least £40 million in fiscal 2025, thanks to continued strong growth in its core categories and continued market adaptability.