Mar 31, 2022 7:03 AM
/ Key word(s): Annual Results/Preliminary Results
Based on the preliminary results, fashionette AG achieves FY 2021 outlook with EUR 134 million net revenue (+41.2% year-on-year) and continues its profitable growth
All stated figures refer to 2021 guidance view following HGB standards, unless otherwise noted and are based on the preliminary results. Guidance view includes consolidation of Brandfield from July 2021 onwards, unless stated otherwise.
2021 has been a very successful year for fashionette, achieving all its defined goals, especially the launch of the new product category beauty and the acquisition of Brandfield. On top of this, in FY 2021, net revenue increased by +41.2% YoY resulting in EUR 133.8 million. The full year was supported by strong development in Q4 with net revenue growth of +60.0% YoY, reaching EUR 53.2 million. Adjusted EBITDA reached EUR 4.4 million (IFRS) and EUR 3.6 million (HGB). Therefore, fashionette AG successfully met its latest FY 2021 outlook. In a pro forma view, the group finished the year with above-market growth of +21% YoY or EUR 154.8 million net revenue and EUR 5.7 million Adjusted EBITDA (IFRS).
During its IPO, fashionette AG had set out three strategic pillars as part of its focus on driving dynamic and profitable growth. The first pillar is selection expansion in existing and new categories. In Q4 2021, the group has launched beauty as the latest product category with more than 100 premium and luxury beauty brands and more than 3,000 new premium and luxury beauty products on fashionette.com.
The second pillar of growth is regional expansion. In Q3, fashionette has successfully consolidated Brandfield into its operations and significantly strengthened its presence in the Benelux region. fashionette sees M&A as a fast and efficient way of growing its business.
The third pillar is the investments in its technology platform and content, which makes fashionette unique and more approachable. Throughout the year, the group continued to work on increasing the level of the personalization of the CRM activities and automatization within all channels.
The year was also marked with an ever-changing consumer environment, driven by governmental restrictions in connection with COVID-19. Therefore, fashionette deliberately increased its marketing investments in H1 2021 to stay top of the mind with consumers in an already receding COVID-19 environment. As a result of this and a continued selection expansion, the number of active customers in pro forma view reached 976 thousand in 2021, which corresponds with +32.4% increase compared to 2020. On top of this, the number of new customers increased by +26.7% YoY to 760 thousand in FY 2021 in a pro forma view.
Outlook of 2022
The outlook is based on the assumption of a stable portfolio. The relevant opportunities and risks that influence the outlook are explained in the opportunities and risks report of the annual report, which will be published on 28 April 2022.
The outlook is based on the current assessment of the effects deriving from the geopolitical situation and the global economy and assuming no additional major deterioration. Uncertainties resulting from the evolving nature of the current geopolitical situation, could have material impacts on fashionette's future performance. Other factors to consider:
For 2022, management expects net revenue to increase by around +16% to +21%. The adjusted EBITDA is expected to reach around EUR 5 million to EUR 7.5 million.
fashionette AG is deeply concerned about the tragic developments in Ukraine and continues to observe the situation. The group has no operations outside of Germany and the Netherlands and almost no revenue expose to Ukraine or Russia.
Black Friday Update (2 December 2021) - fashionette AG reports strong order value growth for November 2021, including successful Black Friday week
A webcast for analysts, institutional investors and press will be held at 10:00am (CEST) on Thursday, 31 March 2022. To register please email email@example.com. The slides (PDF) will be available ahead of the webcast. A replay of the audiocast will also be available at ir.fashionette.com.
Figures are unaudited, following HGB standards. Adjusted EBITDA is excluding extraordinary costs and share-based compensation expenses. Rounding differences may occur.
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fashionette AG is a leading European data-driven e-commerce group for premium and luxury fashion accessories. With its online platforms fashionette.com and brandfield.com, the fashionette group offers not only inspiration, but a curated assortment of premium and luxury handbags, shoes, small leather goods, sunglasses, watches, jewelry and beauty products from more than 300 brands, including own brands. Reinforcing more than ten years of fashion accessory experience, fashionette AG developed a compelling proprietary IT and data platform using cutting-edge technology and artificial intelligence to make personalized online shopping of premium and luxury fashion accessories available to all women in Europe. For more information about fashionette AG, please visit corporate.fashionette.com or the online platforms www.fashionette.com and www.brandfield.com.
31.03.2022 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
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