09.07.2020 Global Fashion Group S.A.  LU2010095458

DGAP-Adhoc: GLOBAL FASHION GROUP EXPECTS POSITIVE ADJUSTED EBITDA AND STRONG CASH GENERATION IN Q2


 

DGAP-Ad-hoc: Global Fashion Group S.A. / Key word(s): Miscellaneous
GLOBAL FASHION GROUP EXPECTS POSITIVE ADJUSTED EBITDA AND STRONG CASH GENERATION IN Q2

09-Jul-2020 / 20:29 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.


GLOBAL FASHION GROUP EXPECTS POSITIVE ADJUSTED EBITDA AND STRONG CASH GENERATION IN Q2

Luxembourg, 9 July 2020
- Global Fashion Group S.A. ("GFG"), the leading online fashion and lifestyle destination in growth markets, reports that it expects Q2 to be its second Adjusted EBITDA-profitable and first cash flow-positive quarter as a result of strong customer demand recovery since the end of April, and the Company's strategic response to the COVID-19 pandemic. This performance is expected to be significantly above current market expectations, which for Adjusted EBITDA margin ranges from (2.0)% to 0.7%.

Preliminary results indicate the following expected outcomes for GFG's performance in Q2:
  • Net Merchandise Value ("NMV") growth on a constant currency basis of above 20% for the quarter despite the negative COVID-19 impact in April, driven by more than two million new customers.
  • Adjusted EBITDA profitability (low single digit margin), enabled by strong gross margin and significantly better marketing efficiency.
  • Improved Marketplace share of more than 30% (Q2 19: 19%) and around 90% Marketplace NMV growth as a result of category mix shift and increased Marketplace SKU share.
  • Profitability, alongside disciplined working capital management and capital expenditure, resulted in strong cash generation and a pro-forma cash balance1 at 30 June of around €260m, up €50m from 31 March.
GFG experienced a strong recovery in sales from late April, with Order Intake2 up over 30% since the start of May compared to the same period last year. This was driven by strong performances in CIS and LATAM, while APAC saw more moderate growth as a result of soft trading in Australia.

GFG will publish its second quarter and first half results on 20 August.

All numbers presented in this release are unaudited and based on first preliminary indications (including a number of estimates). The final numbers may deviate from the numbers presented in this release.

_____
1 Includes restricted cash of €20m related to the current RCF facility and approximately €10.5m drawn on local working capital facilities (Q1 20: €20m and €7.9m respectively).
2 Order Intake is the measure used by GFG to define sales within quarterly periods and measures customer order value including VAT and sales taxes and net of provisioned returns and rejections at the date of customer order.


Person making the notification: Andin Fonyonga, Group Head of Legal & Compliance.


FURTHER INFORMATION
KPI and financial definitions, including the alternative performance measure Adjusted EBITDA, are available in the FY 2019 annual report, available on the Company website here.
 
For inquiries please contact:

Press / Communications
Jovana Lakcevic, Head of PR & Communications
press@global-fashion-group.com

Investor Relations
Adam Kay, Investor Relations Director
investors@global-fashion-group.com

Forward looking information
This announcement contains forward-looking statements. Forward-looking statements should not be construed as a promise of future results and developments and involve known and unknown risks and uncertainties. Various factors could cause actual future results, performance or events to differ materially from those described in this announcement, and neither the Company nor any other person accepts any responsibility for the accuracy of the opinions expressed in this announcement or the underlying assumptions.

About Global Fashion Group
Global Fashion Group is the leading fashion and lifestyle retail destination in Asia Pacific, Latin America and CIS. We connect over 10,000 global, local and own brands to a market of more than one billion consumers through four established e-commerce platforms: THE ICONIC, ZALORA, dafiti and lamoda. Through an inspiring and seamless customer experience enabled by our own technology ecosystem and operational infrastructure, we are dedicated to being the #1 fashion and lifestyle destination in our markets. With 17 offices and 10 fulfilment centres across four continents, GFG proudly employs a dynamic and diverse team with deep local knowledge and expertise. In 2019, GFG delivered over 34.6 million orders to 13.1 million Active Customers. (ISIN: LU2010095458.)

For more information visit: www.global-fashion-group.com
 

09-Jul-2020 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de


Language: English
Company: Global Fashion Group S.A.
5, Heienhaff
L-1736 Senningerberg
Luxemburg
Phone: +352 691 20 56 54
E-mail: investorrelations@global-fashion-group.com
Internet: https://global-fashion-group.com
ISIN: LU2010095458
WKN: A2PLUG
Listed: Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Dusseldorf, Tradegate Exchange; Luxembourg Stock Exchange
EQS News ID: 1090825

 
End of Announcement DGAP News Service

1090825  09-Jul-2020 CET/CEST

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Die wichtigsten Finanzdaten auf einen Blick
  2013 2014 2015 2016 2017 2018 2019 2020e
Umsatzerlöse1 0,00 0,00 0,00 886,90 1.095,00 1.155,90 1.346,00 0,00
EBITDA1,2 0,00 0,00 0,00 -148,90 -100,30 -125,20 -85,80 0,00
EBITDA-Marge3 0,00 0,00 0,00 -16,79 -9,16 -10,83 -6,37 0,00
EBIT1,4 0,00 0,00 0,00 -873,80 -132,70 -157,70 -125,10 0,00
EBIT-Marge5 0,00 0,00 0,00 -98,52 -12,12 -13,64 -9,29 0,00
Jahresüberschuss1 0,00 0,00 0,00 -902,60 -6,50 -201,90 -144,60 0,00
Netto-Marge6 0,00 0,00 0,00 -101,77 -0,59 -17,47 -10,74 0,00
Cashflow1,7 0,00 0,00 0,00 -141,60 -63,80 -85,30 -68,90 0,00
Ergebnis je Aktie8 0,00 0,00 0.00 -5,92 -0,01 -1,32 -1,00 -0,52
Dividende8 0,00 0,00 0,00 0,00 0,00 0,00 0,00 0,00
Quelle: boersengefluester.de und Firmenangaben

  Geschäftsbericht 2019 - Kostenfrei herunterladen.  
1 in Mio. Euro; 2 EBITDA = Ergebnis vor Zinsen, Steuern und Abschreibungen; 3 EBITDA in Relation zum Umsatz; 4 EBIT = Ergebnis vor Zinsen und Steuern; 5 EBIT in Relation zum Umsatz; 6 Jahresüberschuss (-fehlbetrag) in Relation zum Umsatz; 7 Cashflow aus der gewöhnlichen Geschäftstätigkeit; 8 in Euro; Quelle: boersengefluester.de

Wirtschaftsprüfer: Ernst & Young

INVESTOR-INFORMATIONEN
©boersengefluester.de
Global Fashion Group
WKN Kurs in € Einschätzung Börsenwert in Mio. €
A2PLUG 6,189 1.221,32
KGV 2021e KGV 10Y-Ø BGFL-Ratio Shiller-KGV
0,00 6,84 0,000 -3,21
KBV KCV KUV EV/EBITDA
1,90 - 0,91 -15,363
Dividende '19 in € Dividende '20e in € Div.-Rendite '19e
in %
Hauptversammlung
0,00 0,00 0,00 26.06.2020
Q1-Zahlen Q2-Zahlen Q3-Zahlen Bilanz-PK
14.05.2020 20.08.2020 12.11.2020 13.03.2020
Abstand 60Tage-Linie Abstand 200Tage-Linie Performance YtD Performance 52 Wochen
102,02% 189,44% 177,47% 76,73%
    
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Mode/Textil , A2PLUG , GFG , XETR:GFG