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DGAP-News: fashionette AG / Key word(s): Annual Report/Annual Results
fashionette AG issues its 2021 annual report confirming +40% year-over-year net revenue growth on a consolidated basis
Daniel Raab, CEO of fashionette AG: "We are pleased to present the final set of numbers for 2021 and finalize the conversion into IFRS. As we begin 2022, our core segment DACH continues to grow profitably and our newer initiatives - including our new product category beauty and our own brand approach - have a strong foundation from which we expect to generate substantial contributions to our future financial performance.
In 2022, despite the geopolitical challenges and the resulting impact on consumer sentiment, we expect a continuous growth in our key regions. Following a year of high investments for the acquisition of Brandfield and the expansion of inventory as a basis for future growth, we expect 2022 to be less capital intensive and we will focus on improving our Free Cash Flow generation."
By the end of 2021, the group's net cash position was at EUR 7.2 million with additional unused working capital facilities in the amount of EUR 12.9 million out of a total of EUR 13.0 million.
The outlook is based on the assumption of no further portfolio changes. The relevant opportunities and risks that influence the outlook are explained in the opportunities and risks report of the annual report 2021.
The outlook is based on the current assessment of the effects deriving from the geopolitical situation and the global economy and assuming no additional major deterioration. Uncertainties resulting from the evolving nature of the current geopolitical situation could have material impacts on fashionette's future performance. Other factors to consider:
For 2022, the management expects a net revenue growth of +16% to +21% on pro forma basis of EUR 155 million or +34% to +40% on consolidated basis of EUR 134 million. The adjusted EBITDA is expected to reach approximately EUR 5 million to EUR 7.5 million.
1 FY 2021 - Pro Forma view (consolidation of Brandfield as of 1 January 2021)
* Adjusted EBITDA is excluding extraordinary costs and share-based compensation expenses.
Figures are audited, following IFRS standards. Adjusted EBITDA is excluding extraordinary costs and share-based compensation expenses. Rounding differences may occur.
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fashionette AG is a leading European data-driven e-commerce group for premium and luxury fashion accessories. With its online platforms fashionette.com and brandfield.com, the fashionette group offers not only inspiration, but a curated assortment of premium and luxury handbags, shoes, small leather goods, sunglasses, watches, jewelry and beauty products from more than 300 brands, including own brands. Reinforcing more than ten years of fashion accessory experience, fashionette AG developed a compelling proprietary IT and data platform using cutting-edge technology and artificial intelligence to make personalized online shopping of premium and luxury fashion accessories available to all women in Europe. For more information about fashionette AG, please visit corporate.fashionette.com or the online platforms www.fashionette.com and www.brandfield.com.
28.04.2022 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
Lierenfelder Straße 45
Regulated Unofficial Market in Berlin, Dusseldorf, Frankfurt (Scale), Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange
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