Zalando Q1 revenues witness significant rise

Zalando, European online platform for fashion increased group revenues in the first quarter of 2015 to 635-648 million euros (677.7 – 691.6 million dollars) compared to 501 million euros (534.7 million dollars) in the first quarter, last year or by 27-29 percent, according to preliminary figures. Zalando will publish full financial figures for the first quarter of 2015 on May 12, 2015.

”We achieved our best ever first quarter performance, a testimony to the great team effort resulting in a strong growth momentum for the company. Especially the performance in March was very encouraging,” said Rubin Ritter, Member of the Management Board.

Zalando expects to achieve an adjusted EBIT of 25-39 million euros (26.6 – 41.6 million dollars), corresponding to an adjusted EBIT margin of 4-6 percent in the first quarter of 2015. According to the company, both group revenues and adjusted EBIT have developed above expectations, owing to a strong start into the Spring/Summer season. With this growth rate Zalando is significantly exceeding its target corridor of 20-25 percent growth. The increase in adjusted EBIT compared to the first quarter of 2014 is mainly driven by an improved gross margin.