LA PLAINE SAINT-DENIS, France, October 20, 2016 /PRNewswire/ --
Showroomprivé, an innovative European player in the online private sales industry, specializing in fashion, has published its third quarter revenues for fiscal year 2016, ended on the 30th of September.
Solid growth in revenues in Q3 despite a challenging environment
- +16.0% growth of Q3 revenues to €104.8m, outperforming the e-commerce market
- Impact of a challenging environment for consumption in July and August (terrorist attacks and weather conditions)
- Sales increase by 19.1% over 9 months ending on 30th September 2016
Acceleration of the Group's international development
- Acquisition of Saldi Privati in Italy signed in early October
- Strenghtening of the multi-local organization in international markets
Continued innovation to enhance the customer experience
- Launch of a new version of the website and apps
- 78% of traffic and 62% of revenues achieved through mobile devices
Refined objectives for year 20161 within the range announced during the IPO
- Revenues comprised between €525m and €540m (+19% to +22% compared to 2015)
- EBITDA margin at Group level comprised between 5.8% and 6.0% of revenues (+40 to +60 basis points compared to 2015)
1 Excluding contribution from Saldi Privati
KEY FIGURES FOR Q3 2016
Q3 2015 Q3 2016 %Growth Net revenues (EUR million) 90.3 104.8 16.0% Total Internet revenues (EUR million) 88.4 102.2 15.6% Buyers (in millions) 1.1 1.2 5.7% Revenue per Buyer (EUR) 79.0 86.4 9.4% Number of Orders (in millions) 2.4 2.6 9.1% Average Number of Orders per Buyer 2.2 2.2 3.2% Average Basket Size (EUR) 36.5 38.7 6.0% (million) 30/06/2016 30/09/2016 Variation Total members 26.1 26.8 + 0.7 Cumulative buyers 6.0 6.3 + 0.3
Commenting on these results, Thierry Petit and David Dayan, Co-founders and Co-CEOs of Showroomprivé stated: "Showroomprivé demonstrates a solid growth in a challenging context for consumption. Celebrating its 10 years anniversary this quarter, Showroomprivé accelerates the implementation of its international strategy following the acquisition of Saldi Privati in October. The Group's performance over the first nine months of the year enables us to refine our revenues and margin increase objectives for the year, within the range announced during our IPO."
HIGHLIGHTS FROM THE THIRD QUARTER
Solid growth of revenues in a challenging context
Third quarter revenues keep on growing solidly (+16.0% compared to T3 2015), despite a challenging environment for consumption and the French e-commerce sector. Sales increase over 9 months stands at 19.1%.
This growth in revenues is both driven by the increase in the number of buyers (+5.7%) and higher revenues per buyer (+9.4%).
- The increased number of buyers in the third quarter 2016 is driven by the recruitment of new members (close to 700,000 new members in Q3 2016) and a high conversion rate of these new members into buyers.
- The growth in average revenues per buyer is supported by the increase of the average number of orders per buyer (+3.2%) and a higher average basket (+6.0%) which reaches 38.7€.
Accelerated international expansion with the acquisition of Saldi Privati
In early October, Showroomprivé announced the acquisition of Saldi Privati, Italy's second largest actor in online private sales. It constitutes a considerable step forward in the Group's international expansion strategy. This acquisition will allow to improve the quality of service and enrich the offer proposed to its members and to its brand partners, in France and internationally. After the completion of this acquisition, Showroomprivé will achieve more than 20%2 of its turnover abroad.
2 Based on results for fiscal year 2015
A new interface and an improvement in the quality of the customer service
In September 2016, Showroomprivé launched a new version of its website and mobile apps. This redesign offers members and brand partners an even more intuitive and attractive interface to access Showroomprivé's sales events.
The Group also implemented a recast of its customer service data management system to keep on improving the quality of service and response time. Alongside this program, Showroomprivé strengthened its delivery network and implemented a new system to manage returns internationally, allowing to reduce reimbursement delays for members.
REFINING OF THE GROUP'S OBJECTIVES For 2016
Showroomprivé's performance over the first nine months of the year allows to refine the range of the Group's objectives for 2016 (excluding the contribution from Saldi Privati):
- Revenues comprised between €525m and €540m, representing an increase of between 19% and 22% compared to the revenues in the fiscal year of 2015
- EBITDA margin at Group level comprised between 5.8% and 6.0% of revenues in 2016, representing an increase of between 40 and 60 basis points compared to the fiscal year of 2015.
The Board of Directors of SRP Groupe held on October 20, 2016, reviewed and approved the consolidated revenues of the Group as of September 30, 2016.
This document contains only summary information and does not purport to be comprehensive.
This document may contain forward-looking information and statements about the Group and its subsidiaries. These statements include financial projections and estimates and their underlying assumptions, statements regarding plans, objectives and expectations with respect to future operations, products and services, and statements regarding future performance. Forward-looking statements may be identified by the words "believe," "expect," "anticipate," "target" or similar expressions. Although the Group believes that the expectations reflected in such forward-looking statements are reasonable, investors and holders of the Group's securities are cautioned that forward-looking information and statements are subject to numerous risks and uncertainties, many of which are difficult to predict and generally beyond the control of the Group, that could cause actual results and developments to differ materially and adversely from those expressed in, or implied or projected by, the forward-looking information and statements. These risks and uncertainties include those discussed or identified in filings with the Autorité des Marchés Financiers made or to be made by the Group. The Group undertakes no obligation to publicly update its forward-looking statements, whether as a result of new information, future events, or otherwise.
FY 2016 Results: February 2017
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