SIGNA Sports posts 10 percent revenue growth

For its fourth quarter, SIGNA Sports United N.V. (SSU) reported net revenue growth of 10 percent to 247 million euros and 24 percent for FY2021 to 872 million euros, despite supply constraints in full-bike category.

Excluding full-bike sales, the company said, net revenue grew 19 percent and 31 percent for Q4 and full year FY2021, respectively.

Commenting on the company’s performance, Stephan Zoll, CEO of SSU, said, “We are thrilled to begin our journey as a public company and are looking forward to the opportunity ahead of us. The company is well positioned to execute on our organic strategy as well as take advantage of attractive M&A opportunities. In addition to our public market debut, closing the acquisitions of WiggleCRC and Tennis Express mark key milestones in our strategy.”

The company added that top-line resilience is evident by two-year net revenue growth of 51 percent against Q4 FY19 and full fiscal year net revenue growth of 62 percent.

The company reported Increase in gross profit of 16 percent to 94 million euros in Q4FY21 and 33 percent for the full year to 339 million euros. Net loss grew to 46 million euros in FY2021 largely due to one-off fees related to the public listing.

The company’s adjusted EBITDA grew 90 percent to 28 million euros in FY2021, an increase in adjusted EBITDA margin of 111bps.

Subsequent to the reporting period, SSU completed its business combination with Yucaipa Acquisition Corporation on December 14, 2021 in a transaction that provided gross proceeds of 484 million dollars, and began trading on the NYSE on December 15, 2021. The company also closed the acquisitions of WiggleCRC and Tennis Express on December 14 and December 31, 2021, respectively.

For FY2022, the company expects net revenue to range between 1,400 million euros to 1,550 million euros.