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DGAP-News: ABOUT YOU Holding SE
/ Key word(s): 9 Month figures/9 Month figures
PRESS RELEASE
ABOUT YOU Holding SE ("ABOUT YOU"), one of Europe's fastest-growing online fashion platforms of scale, today announced substantial top-line growth and a solid increase in active customers in the third quarter, led by investments in the international expansion and promotional initiatives. Growth was supported by ABOUT YOU's strong execution of its market launches in Italy, Greece, Portugal, and France. Tarek Müller, co-founder and co-CEO: "I am impressed by the positive engagement which ABOUT YOU witnessed throughout our market launch events in Southern Europe this quarter. Our strong performance was particularly driven by our international expansion and the successful launch of SCAYLE to propel our B2B business. To further accelerate growth in the future, our ABOUT YOU Global Shipping Platform went live in December and we already ship to c. 100 countries worldwide today. We look forward to delivering on our commitments for 2021/2022 and we are well on track to positioning ABOUT YOU as the number one global fashion platform." Group revenue increased by 48.0% year-on-year to EUR 512.5 million in the third quarter (Q3 2020/2021: EUR 346.2 million). In the first nine months of the financial year, revenue grew by 54.8% to EUR 1,330.2 million (9M 2020/2021: EUR 859.3 million). ABOUT YOU's commerce business successfully navigated through the volatile yet supportive environment of eased Covid-19 restrictions, which drove demand for going-out clothing categories particularly in the first weeks of the quarter. Active customers increased by 33.6% year-on-year to 10.7 million at the end of Q3, from 8.0 million a year earlier. The average order frequency reached 2.9 (6.4% year-on-year, Q3 2020/2021: 2.7) and the average order value rose to EUR 58.8 (5.0% year-on-year, Q3 2020/2021: EUR 56.1). The RoE (Rest of Europe) segment grew its revenue by 67.7% year-on-year to EUR 239.6 million in the current quarter (Q3 2020/2021: EUR 142.8 million), driven by the strong operational execution of ABOUT YOU's large-scale launch campaigns in Italy, Greece, Portugal, and France over September and October. In DACH (Germany, Austria, and Switzerland), the company experienced a healthy growth of 27.0% year-on-year to EUR 248.4 million in the third quarter (Q3 2020/2021: EUR 195.6 million) after the WOOHOO campaign celebrated a total of 10 million customers in October, and Black Friday led to a significant ramp-up of sales. ABOUT YOU continued to strengthen its B2B business in Q3 2021/2022. The scaling of existing and acquisition of new corporate clients resulted in an exceptional revenue increase of 109.1% year-on-year to EUR 48.7 million (Q3 2020/2021: EUR 23.3 million). In the TME (Tech, Media, Enabling) segment, the company invested in the rebranding of SCAYLE in November. Supported by a growing sales team, the independent organisational unit gained prominence through strategic partnerships, providing significant further growth potential. Against the backdrop of ABOUT YOU's continued investments in growth, the adjusted EBITDA margin fell to International launches and promotional initiatives adversely affected gross margin and accelerated the marketing cost-to-revenue ratio in the third quarter, while the cost-to-revenue ratios for fulfilment and administration improved. The DACH segment sustained profitability with an adjusted EBITDA margin of 5.5% in Q3 2021/2022 and an adjusted EBITDA of EUR 13.6 million (Q3 2020/2021: EUR 15.8 million). For the RoE segment, ABOUT YOU recorded a negative adjusted EBITDA margin of -21.1%, equivalent to an adjusted EBITDA of EUR -50.5 million (Q3 2020/2021: EUR -29.7 million). With an adjusted EBITDA margin of 14.6%, the adjusted EBITDA of the TME segment grew significantly to EUR 7.1 million in the third quarter (Q3 2020/2021: EUR 1.0 million), driven by a strong increase in high-margin B2B sales. Hannes Wiese, co-founder and co-CEO: "Investing in ABOUT YOU's international growth has been our top priority and we have once again seen this pay off in the third quarter. Not only do we experience a strong momentum in the acquisition of new customers, particularly in Southern Europe, but also great developments of these new customer cohorts' metrics. Thus, we can confirm our guided full-year revenue and aim for the upper half of the range." On the back of the progress on strategic priorities, the company reiterates its guidance and continues to expect a Group revenue of EUR 1,725 to 1,775 million (+48.0 to 52.0% year-on-year growth) in the financial year 2021/2022. Given the strong business results in the third quarter, ABOUT YOU now believes it is realistic to reach the upper half of its Group revenue guidance range. Adjusted EBITDA is assumed to remain at c. EUR For the financial year ending on 28 February 2022, ABOUT YOU now expects an increased total CAPEX of c. EUR 50.0 million, mainly due to increased and preponed investments in IT and logistics infrastructure. Net working capital is assumed to remain negative as a percentage of sales in the low single-digit range. The full third-quarter report for ABOUT YOU is available on the company's Investor Relations Website. Preliminary results for the financial year 2021/2022 are scheduled for 29 March 2022.
Definitions are available in ABOUT YOU's Quarterly Statement Q3 2021/2022.
Sinah Brending | Financial Communications Certain statements contained in this release may constitute "forward-looking statements" that involve a number of risks and uncertainties. Forward-looking statements are generally identifiable by the use of the words "may", "will", "should", "plan", "expect", "anticipate", "estimate", "believe", "intend", "project", "goal" or "target" or the negative of these words or other variations on these words or comparable terminology. Forward-looking statements are based on assumptions, forecasts, estimates, projections, opinions or plans that are inherently subject to significant risks, as well as uncertainties and contingencies that are subject to change. No representation is made or will be made by ABOUT YOU Holding SE that any forward-looking statement will be achieved or will prove to be correct. The actual future business, financial position, results of operations and prospects may differ materially from those projected or forecast in the forward-looking statements. Neither ABOUT YOU Holding SE nor any of their respective affiliates assume any obligation to update, and do not expect to publicly update, or publicly revise, any forward-looking statements or other information contained in this release, whether as a result of new information, future events or otherwise, except as otherwise required by law.
11.01.2022 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. |
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| Language: | English |
| Company: | ABOUT YOU Holding SE |
| Domstraße 10 | |
| 20095 Hamburg | |
| Germany | |
| Phone: | +49 40 638 569 - 0 |
| E-mail: | info@aboutyou.de |
| Internet: | https://corporate.aboutyou.de |
| ISIN: | DE000A3CNK42 |
| WKN: | A3CNK4 |
| Indices: | SDAX |
| Listed: | Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange |
| EQS News ID: | 1266995 |
| End of News | DGAP News Service |
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1266995 11.01.2022
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