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German online retailer Zalando has published its definitive first quarter results, showing that first quarter turnover grew nearly 25 % – below the pace of 2015.
Slower growth
Zalando’s turnover grew 23.7 % in the first quarter, up to 796.1 million euro. This shows Zalando’s turnover still experiences sizeable growth, but compared to the year before, it is at a slower pace. Back then, turnover grew 28.5 % in the first quarter and even 33.6 % in its full fiscal year. Its home region DACH (Germany, Austria and Switzerland) is still the company’s largest market, with a 16.9 % turnover increase to 405.8 million euro, while turnover grew 26.3 % elsewhere, to 334.5 million euro.
Zalando’s adjusted EBIT reached 20.2 million euro, a drop compared to the 29.1 million euro from the year before – partly caused by an EBIT margin drop from 4.5 to 2.5 %. Net profit dropped from 24.3 to 4.6 million euro because of additional investments: Zalando aims to invest 200 million euro this year, compared to 60 million euro last year.
Zalando’s number of visits grew from 392.8 million to 479.5 million, with 62.3 % coming through mobile devices (up 10 % compared to the year before). Its number of active customers has also grown, from 15.4 million to 18.4 million, although their average spend dropped slightly, from 68 to 66.5 euro.
