ZALANDO SE Zalando Q1/23 Earnings Call
May 4, 2023
Dr. Sandra Dembeck (CFO)
Zalando Q1/2023
Executive summary
01
Solid Q1 performance despite continued macroeconomic headwinds
Performance reflects continued focus on profitable growth with GMV growing at +2.8%and a year-over-year improvement in adjusted EBIT from EUR (52)m to EUR (1)m
02 | On track to reach 2025 partner business target of 50% share of GMV |
Partner business share up +8pp to 39% fueled by increased adoption of | |
Zalando Fulfillment Solutions | |
03 | Successfully leveraged our Lounge by Zalando proposition to fuel growth while |
clearing excess inventory |
Resulting in exceptionally strong Offprice revenue growth of +33%
04
05
Remain committed to our two main ambitions for 2023:
Profitable growth and ongoing selective investment through the cycle
Reiterating full year 2023 guidance
GMV and revenue growth of 1% - 7% and (1)% - 4% respectively, adj EBIT in the range of EUR 280 - 350m, CAPEX of EUR 300 - 380m and negative net working capital
2
Zalando Q1/2023
Financial update
Q1/23
3
Zalando Q1/2023 | Group performance |
In Q1, we grew our top line and continued to significantly improve our profitability profile
Group GMV | Group Revenue 1 | Group Adj. EBIT 2 | ||
(in EUR m) | (in EUR m) | (in EUR m and margin in % of revenue) | ||
+2.8% | ||||
+2.3% | (2.4)% | (0.0)% | ||
3,153 | 3,242 | (52) | (1) | |
2,205 | 2,256 |
Q1/22 | Q1/23 | Q1/22 | Q1/23 | Q1/22 | Q1/23 |
- 1 Q1/23 contains EUR (55)m | Q1/22 EUR (45)m reconciliation of internal revenues 2 Q1/23 contains EUR (5)m | Q1/22 contains EUR 3m reconciliation of internal EBIT
Zalando Q1/2023 | Customer metrics |
Resilient customer spend driven by larger basket sizes
Active customers (L12M1 in millions)
4.8%
48.8 | 51.2 |
Q1/22 | Q1/23 |
- 1 L12M = last twelve months
2 Defined as GMV divided by the number of orders
3 Defined as GMV divided by the number of active customers
Average orders per active customer
(L12M1 in #)
Average basket size after returns2
(L12M1 in EUR)
GMV per active customer3
(L12M1 in EUR)
(2.5)%
5.25.1
Q1/22Q1/23
1.9% | |
56.3 | 57.4 |
Q1/22 | Q1/23 |
(0.8)% | |
293.4 | 291.0 |
Q1/22 | Q1/23 |
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Disclaimer
Zalando SE published this content on 04 May 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 04 May 2023 05:12:04 UTC.
