KWB Group, through its trading brands Kitchen Connection and Wallspan, continues to lead the “do it for me” kitchen and wardrobe renovation market across Queensland, NSW, and South Australia. With over 4,800 five-star reviews on Australia’s largest independent consumer review platform, KWB’s commitment to delivering exceptional customer experiences is unwavering.
FY25 was a year of renewed momentum and strategic growth. After a deliberate pause in network expansion during FY23 and FY24, we reignited our growth strategy, expanding our national footprint from 25 to 29 showrooms by 30 June 2025. This investment in our network was made in the face of ongoing cost-of-living pressures and volatile trading conditions, and I’m proud of how our team responded.
We opened five new showrooms during the year, including Alexandria in Sydney (July), Bundall on the Gold Coast (September, replacing Ashmore), Auburn (December), Caringbah (April), and Logan in Brisbane (May). Each of these openings has strengthened our presence in key markets, particularly Sydney, and positioned us for future order and sales growth. We also look forward to opening our Melrose Park showroom in Adelaide in early FY26.
In FY25, KWB achieved a 13% increase in orders, reaching $128.7 million. This growth was driven by strong performance from new stores and improved customer conversion, reflecting our focus on competitively priced, high-quality kitchen solutions.
Our order book at 30 June 2025 stood at $44.2 million ($41.6 million in kitchens and $2.6 million in wardrobes), up from $37.4 million the previous year. While FY24 revenue was elevated due to a COVID-related backlog of orders, FY25 revenue remained strong at $120.4 million.
Overall costs remained tightly controlled, including advertising and marketing expenditure which was lower than FY24 and less than 2% of revenue.
EBIT came in at $24.3 million, slightly below FY24’s $25.2 million, reflecting the impact of new store ramp-up and increased depreciation. Gross margins held steady at approximately 50%, and EBIT margin declined modestly from 20.8% to 20.2%.
A significant milestone this year was the beginning of my phased transition from the Managing Director role. Cameron Crowell joined us as Deputy CEO in June 2025. Cameron is a seasoned retail leader with deep experience in store expansion and operations. Over the next 12 months I will continue as Managing Director, while actively involving Cameron and the executive team to ensure a smooth and effective handover by the end of the financial year.
We continue to see strong potential for further expansion. Further tier one locations are under current evaluation and we remain committed to our long-term target of 50+ showrooms.
I want to thank our incredible team for their dedication and resilience. Their hard work has been instrumental in our success, and I’m confident that KWB Group is well-positioned for continued growth and excellence in the years ahead.
John Bourke, KWB Group Managing Director