Zalando Q1 revenues rise between 22 to 24 percent

Zalando forecasts first quarter revenue growth 22 -24 percent to 971-987 million euros (1,040 – 1,057 million dollars) against 796.1 million euros (853 million dollars) in the first quarter of 2016, according to preliminary figures. Zalando expects to achieve an adjusted EBIT of 10-30 million euros (10.7 – 32 million dollars), corresponding to an adjusted EBIT margin of 1-3 percent against 20.2 million euros (21.6 million dollars) or 2.5 percent for the same period. Zalando confirms its full-year guidance of revenue growth in a range of 20-25 percent and an adjusted EBIT margin in the range of 5-6 percent.

Commenting on the Q1 trading, Co-CEO Rubin Ritter said in a media release, "We continue to successfully execute towards our goals and started 2017 with strong growth momentum. We are fully on track with our long-term aspirations and keep expanding our business at high speed, while investing into our consumer experience and brand partner proposition."

On April 20, 2017, Zalando will publish the agenda for its upcoming annual general meeting (AGM) held on May 31, 2017 and in accordance with the recommendation of its nomination committee, the supervisory board has proposed Shanna Prevé and Dominik Asam for election to the supervisory board at the AGM, as Lorenzo Grabau and Kai-Uwe Ricke will not seek re-election.

Prevé is Managing Director Business Development for the Google Consumer Hardware Group in San Francisco, USA, and Asam is Chief Financial Officer at the DAX-listed technology company Infineon Technologies AG. The company said, both bring relevant industry experience and are expected to add beneficial expertise to the work of the supervisory board. Dominik Asam is designated to take over chairmanship of the audit committee.

Picture:Zalando website