The Düsseldorf online retailer Fashionette AG achieved a significant increase in sales in the first six months of the 2022 financial year. At the same time, the company also reported a higher loss on Thursday.
In the months from January to June, group sales amounted to EUR 73.4 million, which means an increase of 50.1 percent compared to the first half of 2021. A significant part of the growth was due to the takeover of the Dutch online retailer Brandfield. The newcomer, whose proceeds have been included in the balance sheet since July 1, 2021, contributed almost 21 million euros to total sales in the reporting period.
Adjusted for special effects, earnings before interest, taxes, depreciation and amortization (EBITDA) increased by 2.5 percent to EUR 491 million. The reported EBITDA, however, slipped deep into the red: The corresponding deficit amounted to 1.06 million euros, after a positive result of 0.08 million euros had been achieved in the same period of the previous year. The reported net loss grew from 1.30 million euros to 3.10 million euros.
CEO Georg Hesse, who has been in charge of Fashionette AG since the beginning of July, was satisfied with the current results: “The development in the challenging first half of 2022 is a good basis for confidently going into the second half of the year and thus the seasonally strongest time of the year go,” he said in a statement. “Despite the general negative trend in retail, which is characterized by various uncertainties, we were able to increase our net sales and the number of our active customers – with increased marketing efficiency.”
In light of the latest developments, the company confirmed its full-year guidance. For 2022, it continues to expect net sales of between 180 and 187 million euros and EBITDA adjusted for special effects in the range of “around five million euros to 7.5 million euros”.