About You posts revenue and profit growth

The About You Group achieved revenue growth of 1.6 percent to 1,935.2 million euros and improvement in adjusted EBITDA to 3.2 million euros despite tougher-than-expected market conditions.

For fiscal year 2024-2025, the company’s management board expects group revenue growth between 1 percent and 10 percent year-on-year and an increase in adjusted EBITDA to 10 million euros to 30 million euros.

"In FY 2023/2024, we entered positive territory in terms of adjusted EBITDA, while at the same time generating growth, being free cash flow positive and gaining significant market share. Following ten years of innovation and investment, this illustrates how a founder-led business model can achieve a good balance between margin expansion and growth," says Tarek Müller, co-founder and co-CEO of the About You Group.

Despite excess inventories, unfavourable weather conditions, and declining sector revenue, the company said in a release that it managed to grow online revenue by 5.2 percent year-on-year. Revenue generated by the online fashion store in Germany, Austria, and Switzerland (DACH segment) remained almost unchanged from the previous year at 916.7 million euros and grew by 2.8 percent to 925.9 million euros in all other European markets. The segment’s adjusted EBITDA margin climbed from 1.5 percent to 3.6 percent in DACH and from negative 18.7 percent to negative 6.8 percent in RoE.

The business-to-business unit of the About You Group, included in the Tech, Media, and Enabling (TME) segment, reported segment revenue of 188.9 million euros in FY 2023/2024 with a significant increase in the adjusted EBITDA margin from 16.1 percent to 26.7 percent.

"As we enter FY 2024/2025, we are at the beginning of a new decade for the About You Group, and stand financially stronger than ever before," added Hannes Wiese, co-founder and co-CEO of the About You Group.