About You : Financial Statement 9M 2025 Results

Published: 2025-01-09 01:33:04 ET YOU.DE

1__INTERIM MANAGEMENT REPORT2__INTERIM CONSOLIDATED FINANCIAL STATEMENTS3__FURTHER INFORMATION

EUR 59.3

EUR 123.9 million

Average order value LTM

(Q3 2023/2024: EUR 56.0)

Free cash flow (Q3 2023/2024: EUR 93.1 million)

3.6%

EUR 38.5 million

Group adjusted EBITDA margin

(Q3 2023/2024: 3.6%)

Number of orders LTM

(Q3 2023/2024: EUR 38.4 million)

EUR 558.9

Group revenue (Q3 2023/2024: EUR 551.9 million)

Note: All metrics on this page refer to Q3 2024/2025 ended on November 30, 2024.

Quarterly Statement Q3 2024/2025

million

EUR 178.1

Average GMV per customer LTM

(Q3 2023/2024: EUR 173.1)

42.0%

Group gross margin (as % of revenue)

(Q3 2023/2024: 40.3%)

1__INTERIM MANAGEMENT REPORT

ABOUT YOU AT A GLANCE1

2__INTERIM CONSOLIDATED FINANCIAL STATEMENTS

3__FURTHER INFORMATION

Group Key Performance Indicators

Q3 2023/2024

9M 2023/2024

Q3 2024/2025

9M 2024/2025

Active customers (LTM in million)

12.8

12.4

12.8

12.4

Number of orders (LTM in million)

38.5

38.4

38.5

38.4

Average order frequency (LTM)

3.0

3.1

3.0

3.1

Average order value (LTM in EUR incl. VAT)

59.3

56.0

59.3

56.0

Average GMV per customer (LTM in EUR incl. VAT)

178.1

173.1

178.1

173.1

Group results of operations

Revenue (in EUR million)

558.9

551.9

1,527.3

1,498.6

Gross margin (as % of revenue)

42.0

40.3

41.2

38.5

EBITDA (in EUR million)

16.9

9.7

18.1

(13.5)

EBITDA (as % of revenue)

3.0

1.8

1.2

(0.9)

Adjusted EBITDA (in EUR million)

20.1

19.8

32.9

11.0

Adjusted EBITDA (as % of revenue)

3.6

2.2

0.7

Group net assets and financial position

Equity ratio (as % of total assets)

20.1

23.1

20.1

23.1

Cash flow from operating activities (in EUR million)

134.0

96.8

171.9

91.5

Cash flow from investing activities (in EUR million)

(10.1)

(3.7)

(34.0)

(31.0)

Free cash flow (in EUR million)

123.9

93.1

137.9

60.4

Cash flow from financing activities (in EUR million)

(13.7)

(11.7)

(45.9)

(35.7)

Cash and cash equivalents (in EUR million)

255.9

229.6

255.9

229.6

Net working capital (in EUR million)

(161.4)

(46.5)

(161.4)

(46.5)

CAPEX (capital expenditure) (in EUR million)

10.1

3.7

34.0

31.0

Other key figures

Employees (as of the reporting date)2

1,209

1,225

1,209

1,225

Basic earnings per share (in EUR)

(0.02)

(0.06)

(0.24)

(0.46)

Diluted earnings per share (in EUR)

(0.02)

(0.06)

(0.24)

(0.46)

Quarterly Statement Q3 2024/2025

1__INTERIM MANAGEMENT REPORT

2__INTERIM CONSOLIDATED FINANCIAL STATEMENTS

3__FURTHER INFORMATION

TABLE OF CONTENTS

INTERIM MANAGEMENT REPORT

1.1

Group Results of Operation

1.2

Segment Results of Operation

1.3

Cash Flows

1.4

Financial Position

1.5

Outlook

INTERIM CONSOLIDATED FINANCIAL STATEMENTS

2.1

Consolidated Income Statement

2.2

Consolidated Balance Sheet

2.3

Consolidated Statement of Cash Flows

FURTHER INFORMATION

3.1

Glossary

3.2

Financial Calendar

3.3

Imprint, Contact, and Disclaimer

Quarterly Statement Q3 2024/2025

1__INTERIM MANAGEMENT REPORT

2__INTERIM CONSOLIDATED FINANCIAL STATEMENTS

3__FURTHER INFORMATION

Quarterly Statement Q3 2024/2025

1__INTERIM MANAGEMENT REPORT

2__INTERIM CONSOLIDATED FINANCIAL STATEMENTS

3__FURTHER INFORMATION

1. INTERIM MANAGEMENT REPORT

1.1 GROUP RESULTS OF OPERATION

The most important key performance indicators of ABOUT YOU Holding SE ("ABOUT YOU" or "Company") and its fully consolidated subsidiaries (together with ABOUT YOU referred to as "ABOUT YOU Group") are revenue and adjusted EBITDA (as % of revenue). Adjusted EBITDA is not a recognized financial measure under IFRS. ABOUT YOU believes that the adjustments to EBITDA allow for a comparison of performance on a consistent basis excluding special items. Adjusted EBITDA is defined as EBITDA, not including expenses for equity- settled share-based compensation, restructuring costs, and non-operating one-off items. The adjusted EBITDA margin is calculated as the ratio of adjusted EBITDA to revenue.

To improve the controllability of individual cost items and to increase comparability with competitors, ABOUT YOU uses Alternative Performance Measures ("APMs"). Here, ABOUT YOU works with four cost APMs: costs of sales (in connection with gross profit), fulfillment costs, marketing costs, and administrative costs, as well as their respective ratios to revenue.

These APMs break down the Group's costs according to whether and where these costs were incurred for revenue generation. This makes it easier to distinguish costs with

highly variable components from costs with high fixed-cost components. The Group results of operations can thus be managed more effectively in the growth phase.

Condensed Consolidated Income Statement based on APM

in EUR million

Q3 2024/2025

as % of revenue

Q3 2023/2024

as % of revenue

Revenue

558.9

100.0%

551.9

100.0%

Growth rate

1.3%

(0.5%)

Costs of sales

324.0

58.0%

329.3

59.7%

Gross profit

234.9

42.0%

222.6

40.3%

Fulfillment costs

126.6

22.6%

112.4

20.4%

Marketing costs

68.4

12.2%

68.6

12.4%

Administrative costs

19.9

3.6%

21.8

4.0%

Adjusted EBITDA

20.1

3.6%

19.8

3.6%

in EUR million

as % of revenue

9M 2023/2024

as % of revenue

9M 2024/2025

Revenue

1,527.3

100.0%

1,498.6

100.0%

Growth rate

1.9%

0.6%

Costs of sales

897.8

58.8%

921.8

61.5%

Gross profit

629.6

41.2%

576.8

38.5%

Fulfillment costs

355.9

23.3%

337.4

22.5%

Marketing costs

178.5

11.7%

159.6

10.6%

Administrative costs

62.3

4.1%

68.8

4.6%

Adjusted EBITDA

32.9

2.2%

11.0

0.7%

Quarterly Statement Q3 2024/2025

1__INTERIM MANAGEMENT REPORT

2__INTERIM CONSOLIDATED FINANCIAL STATEMENTS

3__FURTHER INFORMATION

1.1.1 REVENUE DEVELOPMENT

Revenue increased by 1.3% to EUR 558.9 million in Q3 2024/2025 versus the prior-year quarter (Q3 2023/2024: EUR 551.9 million).

Revenue growth in Q3 2024/2025 was off to a good start with ideal weather conditions at the beginning of the Fall/Winter 2024 season in September and a low comparison base from the prior year quarter. Even with higher comps towards the end of the quarter, revenue growth only slowed down slightly. The strong underlying momentum is not fully reflected in the Q3 2024/2025 growth rate overall due to a technical shift between Q3 and Q4 of the revenue from Black Weeks. This is as Black Friday 2024/2025 was scheduled at the very end of our Financial Q3, and with revenue in IFRS being recognized only upon delivery to the customer, a significant amount of Black Weeks revenue will be recognized in our Financial Q4. In 2023/2024, in turn, Black Weeks related revenue was largely booked in Q3 2023/2024, elevating the comp base for this year.

In a further improving market environment, the number of LTM active customers increased by 3.0% to 12.8 million as of November 2024 (12.4 million as of November 2023). This increase was primarily driven by improved retention and an increased focus on new customer acquisition in marketing steering.

The average order frequency per active customer declined by 2.8% to 3.0 (Q3 2023/2024 LTM: 3.1). The slight decline in order frequency can be attributed mainly to unit economics measures introduced to increase the profitability of existing customers. The increase in the number of active customers overcompensated for the decline in order frequency resulting in the number of orders to increase slightly by 0.1% YoY to 38.5 million orders in Q3 2024/2025 (Q3 2023/2024: 38.4 million).

The average order value (LTM) increased by 5.8% to EUR 59.3 (Q3 2023/2024 LTM: EUR 56.0) due to the positive effects of measures to improve unit economics as well as higher gross selling prices, and a lower promotional intensity.

In Q3 2024/2025 LTM, the uptick in the average order value overcompensated for the slight decline in the average order frequency driving the average GMV per customer up by 2.9% to EUR 178.1 (Q3 2023/2024: LTM: EUR 173.1).

1.1.2 ALTERNATIVE PERFORMANCE MEASURES (APM)

Development of Gross Profit

Costs

sales declined

1.6% to

EUR

324.0

million in

2024/2025

(Q3 2023/2024: EUR 329.3 million). Gross profit increased by 5.6% to EUR 234.9 million

2024/2025

(Q3

2023/2024:

EUR 222.6 million). As a result of the declining cost of sales, the gross profit margin increased by 170 basis points to 42.0% in Q3 2024/2025 (Q3 2023/2024: 40.3%). Positive revenue mix effects with an increasing share of high-margin tech revenues, an improved inventory position, and a lower promotional intensity in the fashion industry compared to the prior year quarter were the main drivers for the gross margin increase.

Quarterly Statement Q3 2024/2025

1__INTERIM MANAGEMENT REPORT

2__INTERIM CONSOLIDATED FINANCIAL STATEMENTS

3__FURTHER INFORMATION

Development of Fulfillment Costs

In Q3 2024/2025, fulfillment costs increased by 12.6% to EUR 126.6 million (Q3 2023/2024: EUR 112.4 million). The cost-to-revenue ratio increased by 220 basis points YoY to 22.6% in Q3 2024/2025 (Q3 2023/2024: 20.4%). The increase is mainly driven by one-time effects (positive in Q3 2023/2024, negative in Q3 2024/2025) and technical shifts from Q3 into Q4 from Black Weeks revenue.

Development of Marketing Costs

Marketing costs decreased by 0.3% to EUR 68.4 million in Q3 2024/2025 (Q3 2023/2024: EUR 68.6 million). This resulted in a decline of the marketing costs-to- revenue ratio in the current quarter by

20 basis points to 12.2% (Q3 2023/2024:

12.4%). The focus of marketing measures was on performance marketing and promotional campaigns to further drive new customer acquisition, as well as on selected media campaigns.

Development of Administrative Expenses

In the first nine months of the current financial year, a total of EUR 14.7 million was adjusted (9M 2023/2024: EUR 24.5 million). EUR 13.6 million is explained by expenses for equity-settled share-based compensation (9M 2023/2024: EUR 13.6 million). Further, EUR 1.2 million of the adjustments related to severance payments and other costs related to organizational development measures in the Group.

Overall a positive adjusted EBITDA of EUR 32.9 million (9M 2023/2024: EUR 11.0 mil- lion) was reached for the first nine months.

Adjustments

in EUR million

Q3 2024/2025

Q3 2023/2024

9M 2024/2025

9M 2023/2024

Adjusted EBITDA

20.1

19.8

32.9

11.0

Equity-settled share-based

compensation

(2.7)

(4.5)

(13.6)

Non-operating one-time effects

(0.4)

(5.6)

(1.2)

(10.9)

EBITDA

16.9

9.7

18.1

(13.5)

In Q3 2024/2025, administrative expenses decreased by 8.7% to EUR 19.9 million (Q3 2023/2024: EUR 21.8 million). As a result, the cost-to-revenue ratio decreased by 40 basis points to 3.6% (Q3 2023/2024: 4.0%). The decrease is a result of the continuation of operational efficiency measures and strict cost control.

Development and Reconciliation of Adjusted

EBITDA

In Q3 2024/2025, adjusted EBITDA amounted to EUR 20.1 million (Q3 2023/2024: EUR 19.8 million), corresponding to an adjusted EBITDA margin of 3.6% (Q3 2023/2024: 3.6%).

Quarterly Statement Q3 2024/2025

1__INTERIM MANAGEMENT REPORT

2__INTERIM CONSOLIDATED FINANCIAL STATEMENTS

3__FURTHER INFORMATION

Nature of Expenses: Reconciliation of the Consolidated Income Statement to APM

Q3 2024/2025

in EUR million

NoE/APM

Cost of sales

Fulfillment costs

Marketing costs

Admin. expenses

Adjusted EBITDA

Revenue

558.9

(324.0)

(126.6)

(68.4)

(19.9)

20.1

Cost of materials

(320.5)

0.0

Personnel expenses

(24.4)

(2.7)

(3.4)

(7.4)

(10.9)

Other operating

expenses

(204.3)

(0.7)

(128.1)

(62.4)

(13.1)

Other operating

income

1.8

0.0

0.1

0.6

1.1

Own work capitalized1

8.6

0.0

4.7

0.9

3.0

Adjusted EBITDA

20.1

Q3 2023/2024

in EUR million

NoE/APM

Cost of sales

Fulfillment costs

Marketing costs

Admin. expenses

Adjusted EBITDA

Revenue

551.9

(329.3)

(112.4)

(68.6)

(21.8)

19.8

Cost of materials

(326.2)

0.0

Personnel expenses

(24.1)

(3.1)

(2.6)

(8.5)

(9.9)

Other operating

(193.6)

(0.8)

(118.0)

(62.9)

(11.9)

expenses

Other operating

3.4

0.0

4.2

0.0

(0.8)

income

Own work capitalized1

8.5

0.8

4.0

2.8

0.8

Adjusted EBITDA

19.8

Quarterly Statement Q3 2024/2025

1__INTERIM MANAGEMENT REPORT

2__INTERIM CONSOLIDATED FINANCIAL STATEMENTS

3__FURTHER INFORMATION

9M 2024/2025

in EUR million

NoE/APM

Cost of sales

Fulfillment costs

Marketing costs

Admin. expenses

Adjusted EBITDA

Revenue

1,527.3

(897.8)

(355.9)

(178.5)

(62.3)

32.9

Cost of materials

(886.0)

0.0

Personnel expenses

(74.5)

(9.1)

(9.2)

(23.2)

(33.0)

Other operating

expenses

(568.8)

(3.5)

(358.1)

(166.1)

(41.1)

Other operating

income

8.8

0.0

0.8

6.7

1.2

Own work capitalized2

26.1

0.8

10.6

4.0

10.7

Adjusted EBITDA

32.9

9M 2023/2024

in EUR million

NoE/APM

Cost of sales

Fulfillment costs

Marketing costs

Admin. expenses

Adjusted EBITDA

Revenue

1,498.6

(921.8)

(337.4)

(159.6)

(68.8)

11.0

Cost of materials

(912.8)

0.0

Personnel expenses

(72.2)

(9.4)

(8.0)

(25.9)

(29.0)

Other operating

(534.0)

(4.4)

(346.3)

(141.2)

(42.1)

expenses

Other operating

4.8

0.0

6.4

0.0

(1.5)

income

Own work capitalized2

26.6

4.6

10.5

7.6

3.9

Adjusted EBITDA

11.0

Quarterly Statement Q3 2024/2025

Disclaimer

ABOUT YOU Holding SE published this content on January 09, 2025, and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on January 09, 2025 at 06:32:03.392.