The Düsseldorf-based online retailer Fashionette AG was again able to grow strongly in the third quarter of the 2022 financial year, despite the difficult general conditions. However, the result was burdened by higher costs. This emerges from an interim report that the company published on Tuesday.
In the months of July to September, sales amounted to EUR 38.6 million, which means an increase of 21.6 percent compared to the same quarter of the previous year. Compared to the first half of the year, in which the e-commerce specialist had achieved an increase of 50.1 percent, the pace of growth slowed considerably. However, this was also due to the fact that the sales of the online retailer Brandfield, which was acquired on July 1, 2021, were booked for the first time in the same period of the previous year. In view of the generally falling demand, the company had already cut its annual forecasts last week.
The online retailer was able to reduce its reported loss before interest, taxes, depreciation and amortization (EBITDA), which had been EUR 1.76 million in the same period of the previous year, to EUR 0.82 million. A year ago, however, higher one-off charges had depressed the result. Adjusted for special effects, the deficit before interest, taxes, depreciation and amortization increased from 0.09 to 0.51 million euros. The development was characterized “by external macroeconomic influences, above all by the increased inflation and the Ukraine crisis”, the company explained.
In the first nine months of the current year, Fashionette was able to achieve a sales increase of 38.9 percent to 112.0 million euros. The EBITDA adjusted for special effects fell from 0.39 to -0.02 million euros.
The recently revised forecast envisages sales growth of 23 to 31 percent to EUR 165 to 175 million for the year as a whole. The current target range for EBITDA adjusted for special effects ranges from 1 to 4 million euros.