The online retailer About You continued to grow in the first quarter of the year despite the difficult market environment caused by inflation and the war in Ukraine.
However, the pace slowed compared to the previous quarter, to which the increasing reluctance of customers to buy in view of the high inflation may have contributed. At the same time, expenses for expanding the company and one-off effects in connection with the Ukraine war weighed on profitability, and the operating loss increased.
Co-boss Tarek Müller was confident of achieving the goals for the fiscal year running until the end of February. With the increasing customer base, the company is well positioned for this.
Revenues increase by almost 20 percent
Revenue climbed from March to May by 19.4 percent compared to the previous year to a good 504 million euros, also thanks to international expansion, as the SDax company announced on Thursday in Hamburg. The Zalando competitor is doing better than expected.
Adjusted earnings before interest, taxes, depreciation and amortization (adjusted Ebitda) amounted to minus 28.8 million euros after minus 12.3 million euros in the previous year. The corresponding margin deteriorated surprisingly sharply from minus 2.9 to minus 5.7 percent. (dpa)