Apr 14, 2021 7:30 AM
/ Key word(s): Annual Results/Preliminary Results
fashionette AG specifies preliminary figures with new records for net revenues and adjusted earnings in FY 2020 - further growth above market average expected
Dusseldorf, 14 April 2021. fashionette AG (ISIN DE000A2QEFA1 / WKN A2QEFA), a leading European data-driven online platform for premium and luxury fashion accessories with a regional focus on Germany, Austria and Switzerland (DACH) region, specifies its preliminary figures for the financial year 2020. With the available figures, fashionette AG was able to exceed its growth targets and close the past financial year with new records in revenues and adjusted earnings.
Driven by increasing sales in all product categories, fashionette AG achieved a growth in net revenues (after returns and discounts) of +29.6% to EUR 94.8 million in 2020.
Adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) increased by +24.5% to EUR 8.9 million, resulting in an adjusted EBITDA margin of 9.4%. The one-time expenses mainly relate to costs for the IPO.
Particularly noteworthy is that, despite the strong growth, the operating cash flow almost tripled to EUR 5.2 million. Bank liabilities were fully repaid. With financial resources of EUR 31.8 million, fashionette AG has sufficient capital to finance its further growth plans.
The strong operating development in the financial year 2020 stems primarily from the significant growth in customer acquisition. With an increase of +63.2% to 240.1 thousand new customers, fashionette AG recorded the best year in the Company's history. Overall, the active customer base increased significantly by +49.7% to 357.1 thousand.
"With the growth realized in the 2020 financial year, we have exceeded our ambitious targets. Particularly through the strongly increasing number of new customers, we laid a great foundation to further accelerate our growth in the coming years. The results confirm our approach of using our data-driven online platform to serve the fast-growing market for premium and luxury fashion accessories with sustainable success. I am very confident that with this foundation, coupled with further regional expansions, the extension of the product range as well as selective acquisitions, we will also be able to show growth above the market in the future. The good start into the current financial year leads us to expect a further acceleration of growth in Q1 2021 compared to the full year 2020," says Daniel Raab, CEO of fashionette.
Detailed financial information
The 2020 annual report including the forecast for the current fiscal year will be published on 30 April 2021 at ir.fashionette.com.
A conference call in English will be held for analysts, institutional investors and representatives of the press on 30 April 2021 at 10:00 CEST. An updated corporate presentation on the 2020 financial results will also be published at ir.fashionette.com.
To register for the conference call, please email email@example.com.
fashionette is a leading European data-driven online platform for premium and luxury fashion accessories including handbags, shoes, sunglasses, watches and jewelry. Since its foundation in 2008, fashionette has established a market-leading brand recognition for premium and luxury handbags in its core market of Germany. The focus of fashionette is to make personalized online shopping of premium and luxury fashion accessories available to every woman in Europe. For additional information about fashionette, please visit fashionette's websites at corporate.fashionette.com (Corporate Website) and www.fashionette.com (webshop).
fashionette AG press contact
14.04.2021 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
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