British electronics web shop AO World has had a good first semester, with a 25 % turnover increase and a profit, following an onerous fiscal year.
Investments in Germany and the Netherlands
AO World’s turnover grew 22.9 % in the first semester of its new fiscal year, up to 324.7 million pounds (380 million euro). In the April-September period, AO World’s EBITDA reached 1.5 million pounds (1.75 million euro), mainly thanks to positive results in the United Kingdom.
Its international revenue (which now includes the Netherlands) reached 36.2 million pounds (42 million euro), only 10 % of its total revenue, but up 66.9 % compared to the year before. Major investments in Germany and the Netherlands did result in a negative 11.6 million pound (14 million euro) EBITDA.
“We have made progress in our mission to become the best electrical retailer in Europe, cementing our operations in Europe with the opening of our distribution centre in Germany and launching new categories for customers in both the UK and Europe”, a satisfied CEO John Roberts said.
