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Zalando SE raises 2020 full year outlook on the back of strong third quarter

·2-min read

Zalando SE / Key word(s): 9 Month figures
Zalando SE raises 2020 full year outlook on the back of strong third quarter

08-Oct-2020 / 17:50 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

BERLIN, October 8, 2020 // Zalando SE, Europe's leading online platform for fashion and lifestyle, raises its outlook for the 2020 financial year after exceptionally strong and profitable growth in the third quarter.

The company now expects gross merchandise volume (GMV) to grow 25-27%, revenues to grow 20-22% and an adjusted EBIT of 375-425 million euros for the financial year 2020. In its outlook published on July 15, 2020, Zalando previously assumed GMV growth of 20-25%, revenue growth of 15-20% and adjusted EBIT of 250-300 million euros for the full year.

According to preliminary figures for the third quarter of 2020, Zalando increased its gross merchandise volume (GMV) by 28-31% to 2.43-2.48 billion euros (Q3 2019: 1.89 billion euros) and revenues by 20-23% to 1.83-1.87 billion euros (Q3 2019: 1.52 billion). The adjusted EBIT in the same period is expected between 100-130 million euros (Q3 2019: 6.3 million).

The continued very strong and successful execution of the Zalando platform strategy, against the backdrop of an accelerated consumer demand shift towards digital offerings in the course of the corona pandemic, has positively impacted the strong development in the third quarter. Zalando also benefited from a continued lower return rate and a substantial one-off effect caused by the reversal of the exceptional write-down of inventories. These had been booked in March, at a point in time when the subsequent fast and sustained recovery of consumer demand was not foreseeable.

Zalando will publish its financial figures for the third quarter on November 4, 2020 as planned.

Person making the notification: Dr. Martin Hager, Team Lead Capital Markets Law

INVESTOR/ANALYST INQUIRIES
Patrick Kofler
Investor Relations
investor.relations@zalando.de
+49 (0)30 20968 1584

MEDIA INQUIRIES
Alexander Styles
Corporate Communications
Alexander.Styles@zalando.de
+49 (0) 152 22715810

08-Oct-2020 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de

Language:

English

Company:

Zalando SE

Valeska-Gert-Straße 5

10243 Berlin

Germany

E-mail:

investor.relations@zalando.de

Internet:

https://corporate.zalando.de

ISIN:

DE000ZAL1111

WKN:

ZAL111

Indices:

MDAX

Listed:

Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange

EQS News ID:

1139826


 

End of Announcement

DGAP News Service

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