IPO Signa Sports United increases annual sales by 24 percent

The trading group Signa Sports United NV (SSU) presented current results on Wednesday for the first time since the IPO, which was completed in mid-December. In the 2021 financial year, the sporting goods supplier achieved sales of 872 million euros. This corresponded to an increase of 24.0 percent compared to the previous year and was in line with expectations.

However, the company slipped deeper into the red: The reported net loss grew from 26 to 46 million euros, not least due to costs associated with the IPO. By contrast, earnings before interest, taxes, depreciation and amortization (EBITDA) adjusted for special effects increased by 90.5 percent to EUR 28 million. The sporting goods retailer was thus able to exceed its own targets.

In the fourth quarter, delivery problems for bicycles slowed growth: Sales amounted to 247 million euros and were thus only 10.0 percent above the corresponding level of the previous year. Adjusted for the bicycle business, sales rose by 19 percent, the company said. Adjusted EBITDA fell from six million euros in the same quarter of the previous year to one million euros, which the retailer justified with “targeted investments in customer acquisition”. At 21 million euros, the net loss was more than twice as high as in the same period last year, when it was ten million euros.

For the current financial year, management is still aiming for an increase in sales to between EUR 1.40 and 1.55 billion. The retail chains WiggleCRC and Tennis Express, which were taken over shortly before the turn of the year, should also contribute to the strong growth.

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