Global Fashion Group S.A.: GLOBAL FASHION GROUP ADJUSTS ITS OUTLOOK FOR FULL YEAR 2021
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DGAP-Ad-hoc: Global Fashion Group S.A. / Key word(s): Change in Forecast GLOBAL FASHION GROUP ADJUSTS ITS OUTLOOK FOR FULL YEAR 2021 Luxembourg, 9th December 2021 - Global Fashion Group S.A. ("GFG"), the leading online fashion and lifestyle destination in growth markets, adjusts its outlook for the full year 2021. Following a strong start to the quarter with c.28% constant currency NMV growth for October, GFG saw demand weaken through the subsequent key trading weeks and into December. This reduces full-year expectations for NMV, Revenue and Adjusted EBITDA. GFG now expects to achieve constant currency growth of around 23% for the full year, representing €2.3 - €2.4 billion of NMV and c.€1.5 billion of Revenue. Adjusted EBITDA is expected to be around €10 million. In its outlook, published on 11 November 2021, GFG previously guided to NMV constant currency growth of over 25%, representing €2.3 - €2.4 billion of NMV and c.€1.5 billion of Revenue. GFG expected to deliver a modest improvement in Adjusted EBITDA versus last year's €16 million. All figures reported herein are preliminary and unaudited. GFG will report its financial figures for the fourth quarter results on 8 March 2022. Person making the notification: Claire Higgins, Group Senior Legal Counsel.
For inquiries please contact: Press / Communications Investor Relations Forward looking information About Global Fashion Group For more information visit: www.global-fashion-group.com
09-Dec-2021 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. |
| Language: | English |
| Company: | Global Fashion Group S.A. |
| 5, Heienhaff | |
| L-1736 Senningerberg | |
| Luxemburg | |
| Phone: | +352 691 20 56 54 |
| E-mail: | investorrelations@global-fashion-group.com |
| Internet: | https://global-fashion-group.com |
| ISIN: | LU2010095458 |
| WKN: | A2PLUG |
| Indices: | SDAX |
| Listed: | Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Dusseldorf, Tradegate Exchange; Luxembourg Stock Exchange |
| EQS News ID: | 1256270 |
| End of Announcement | DGAP News Service |
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1256270 09-Dec-2021 CET/CEST
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