About You expects FY revenue and adjusted EBITDA at lower end of guidance

About You Holding SE group revenue grew by 8.3 percent to 554.9 million euros despite a continuously unfavourable macroeconomic environment.

Group adjusted EBITDA was negative 43.1 million euros with a margin of negative 7.8 percent.

About You has confirmed guidance for FY 2022/2023 with revenue growth and adjusted EBITDA expected at lower end of guided ranges.

Commenting on the company’s results, Tarek Müller, co-founder and co-CEO of About You said: “Although market conditions remain challenging, our active customer base growth and the uptick in average order frequency reflect the high awareness of About You and engagement with our brand.”

The company’s DACH segment grew by 8.2 percent in the third quarter, with consumer sentiment improving only slightly. Especially in Austria and Switzerland, the company gained considerable market share. Revenue in the Rest of Europe (RoE) segment increased by 11.1 percent, fueled by a strong performance in the Nordics. While revenue development in the Central and Eastern European markets continued to be positive, a decline in consumer sentiment weighed on revenue growth in Southern Europe.

The B2B business, reported in the Tech, Media, and Enabling (TME) segment, delivered top-line growth of 9.5 percent, supported by the successful brand positioning of SCAYLE and the on-boarding of new enterprise clients. However, the company said, development of existing clients slowed down as they recorded lower online revenues due to the current economic conditions.

The company added that revenue growth for FY 2022/2023 is expected to be in the range of 10 percent to 20 percent, equivalent to 1,905 euros to 2,078 million euros.

Adjusted EBITDA is expected to decrease to negative 140 to negative 120 million euros with margin in the range of negative 7.3 percent to negative 5.8 percent.