ABOUT YOU Holding SE / Key word(s): Change in Forecast
ABOUT YOU Holding SE
13 September 2022
Disclosure of inside information pursuant to Article 17 of Regulation (EU) No 596/2014
ABOUT YOU Holding SE (ISIN DE000A3CNK42): Half-year results weaker than expected; Adjustment of full-year forecast
Hamburg, 13 September 2022 // The Management Board of ABOUT YOU Holding SE ("ABOUT YOU" or "Company"), one of the fastest-growing digital fashion platforms in Europe, decided today at 5:30 p.m. (CEST) to adjust the forecast for the current financial year after declining consumer sentiment and deterioration in macroeconomic factors continue to impact revenue and profitability. This is also based on the preliminary financial figures for the first half year 2022/2023, which are still being audited.
The Management Board no longer expects the macro-environment to stabilize in the short-term. In addition, the revenue development in the second quarter of 2022/2023 with a preliminary revenue of EUR 415 million to EUR 445 million (+4.9% to +12.5% growth YoY) and adjusted EBITDA1 with preliminary EUR -55 million to EUR -40 million (margin -13.3% to -9.0%) was weaker than expected and impacts the revenue assumptions for the second half of the current financial year. A compensation for these effects is not expected in the current financial year. For this reason, the Management Board is adjusting its forecast for the current financial year as follows:
The Management Board now expects revenue for the ABOUT YOU Group in the range of EUR 1,905 million to EUR 2,078 million (+10% to +20% growth YoY), previously EUR 2,165 million to EUR 2,338 million (+25% to +35% growth YoY) and adjusted EBITDA1 of EUR -140 million to EUR -120 million (margin -7.3% to -5.8%) (previously EUR -70 million to EUR -50 million (margin -3.2% to -2.1%)). The Management Board continues to expect that the other key financial figures on total investment expenses and net working capital – as communicated in the press release of 24 May 2022 – will remain unchanged.
Despite the current challenges, the goal to achieve Group break-even on adjusted EBITDA level in the financial year 2023/2024 is confirmed. The results for the first half of 2022/2023 will be published by ABOUT YOU as planned on 11 October 2022.
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1 The key figures in this press release are used in accordance with the definition in the Annual Report 2021/2022, which is published on the website of ABOUT YOU. Compared to the original guidance, there were no changes in the scope of consolidation or accounting policies.
13-Sep-2022 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
ABOUT YOU Holding SE
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