Thanks to comprehensive austerity measures, the E-Commerce Group Global Fashion Group SA (GFG) was significantly reduced its loss in the 2024 financial year.
According to a annual report published on Wednesday, the parent company of the online fashion platforms Dafiti, Zalora and The Iconic achieved sales from continued business areas of 743.5 million euros last year. This corresponded to a decline of 11.3 percent compared to 2023. Adjusted to change course changes decreased by 8.6 percent.
The net star value (NMV) shrank by 10.7 percent (currency -adjusted -7.8 percent) to 1.14 billion euros. In the final quarter, however, the group was almost able to stop its downward trend: the NMV was only 0.3 percent below the corresponding level of previous year.
In 2025 the group wants to further improve its result
Due to cost cuts, the loss of interest, taxes and depreciation (EBITDA) adjusted for special effects fell by 64.8 percent to 20.5 million euros. The net loss due to the shareholders amounted to 82.5 million euros. He was not even half as high as in the previous year, in which he was at 178.4 million euros.
In the current year, the increase in profitability is still in the foreground. The group’s “main goal” of the group is to reach the profit threshold in the case of special effects, according to a statement. An NMV in the range of 1.0 to 1.1 billion euros is also expected.