The Düsseldorf online retailer Fashionette AG was unable to meet its own earnings forecast in the 2022 financial year. This emerges from an ad hoc announcement that the company published on Monday, citing preliminary, unaudited figures.
Accordingly, earnings before interest, taxes, depreciation and amortization (EBITDA) adjusted for special effects in the past year only amounted to 0.5 million euros and thus missed the forecast lowered in November, which had been between one and four million euros. The reason for the ultimately disappointing result was “the unexpectedly subdued customer demand in the year-end business,” the company said. In 2021, the online retailer had still achieved an adjusted EBITDA of 4.4 million euros.
However, annual sales remained in line with expectations. According to the figures available, it amounted to 165.8 million euros. The most recent forecast promised 165 to 175 million euros. Compared to the previous year, Fashionette was able to achieve an increase of 24 percent. On a pro forma basis, the growth rate was seven percent. The company plans to present its final results for 2022 on March 31.