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About You expects to meet full year revenue target

By Prachi Singh

29 Mar 2022

Business

Image: Kendall for About You, Facebook

According to preliminary figures, revenue for the financial year 2021/2022 grew by 48.3 to 50.5 percent to 1,730 to 1,755 million euros at About You Holding SE. The company’s fourth quarter showed an increase in group revenue of 30.2 to 38.4 percent to 400 to 425 million euros.

On the back of About You’s preliminary figures, the company said full-year revenue presumably meets the guidance range of 1,725 to 1,775 million euros, up 48 to 52 percent, although it is not guaranteed to reach the upper half of the range. Adjusted EBITDA is likely to be ahead of the previously set guidance at negative 70 to negative 60 million euros in the financial year 2021/2022.

Commenting on the company’s preliminary results, Tarek Müller, co-founder and co-CEO said: “Since our stock exchange debut in June 2021, About You has been delivering on all its key objectives. Today’s preliminary results underpin About You’s robust business model, even in a volatile market environment. Looking ahead, we are optimistically well on track for our targeted group-level break-even in the financial year 2023/2024 and a group revenue of 5 billion euros two years after that.”

Highlights of About You’s financial results

The company said in a statement that as a result of strategic investments in its European expansion, the group’s adjusted EBITDA margin came in at negative 4 to negative 3.4 percent for the full financial year, equivalent to an adjusted EBITDA of negative 70 to negative 60 million euros.

For the fourth quarter, adjusted EBITDA margin was negative 3.5 to negative 1 percent and adjusted EBITDA reached negative 15 to negative 4 million euros.

The company’s DACH segment of Germany, Austria, and Switzerland experienced healthy revenue growth by a double-digit percentage in the high twenties and reported improved profitability for the financial year 2021/2022 as well as the fourth quarter.

The company’s international segment, Rest of Europe (RoE), significantly expanded in this financial year. After its market launch campaigns in the first and third quarter, About You now operates in 23 European markets outside of DACH and further strengthened its presence in Southern Europe and the Nordics in the last quarter.

About You’s B2B activities, reported in its Tech, Media, and Enabling (TME) segment, reached a positive adjusted EBITDA margin following a break-even of all three revenue streams in the financial year 2021/2022.

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