Zalando's Q3 Performance Overview
Zalando maintained its profitable growth trajectory in Q3, according to the German e-commerce leader's Thursday announcement, despite some metrics not showing gains.
Key Financial Figures
- Gross Merchandise Volume (GMV) rose by 21.6% to €4.2 billion.
- Revenue increased by 26.5% to €3 billion, largely due to including About You in the results.
- On a pro-forma basis, GMV grew 6.7% and revenue 7.5%, reaching just over €3 billion, driven by strong performances of both Zalando and About You.
- B2C revenue climbed to €2.275 billion from €2.15 billion.
- B2B revenue increased to €277 million from €239 million.
Profitability and Margins
Profit metrics showed mixed results:
- Adjusted EBIT rose slightly to €96 million from €93 million year-over-year.
- Adjusted EBIT margin decreased to 3.2% from 3.9%.
- B2C adjusted EBIT declined to €76.6 million from €86.7 million.
- B2B adjusted EBIT improved significantly to €19.6 million from €6.7 million.
- Net income dropped to €12.5 million from €44.3 million.
Customer and Order Activity
Zalando noted growth in active customers and total orders over the past year, while the average number of orders per active customer slightly decreased. However, the average basket size saw a modest increase.
"Zalando in Q3 sustained its profitable growth trajectory."
Summary: Zalando reported solid overall growth in Q3, with increasing revenues and active customers, despite some profit margin pressures and a net income decline.