Accessibility Statement Skip Navigation
  • Resources
  • Blog
  • Journalists
  • +44 (0)20 7454 5110
  • Client Login
  • Send a Release
Return to PR Newswire homepage
  • News
  • Products
  • Contact
When typing in this field, a list of search results will appear and be automatically updated as you type.

Searching for your content...

No results found. Please change your search terms and try again.
  • News in Focus
      • Browse News Releases

      • All Public Company News
      • All Multimedia News
      • View All News Releases

      • Regulatory News

      • D/A/CH Regulatory News
      • UK Regulatory News
      • View All Regulatory News

  • Business & Money
      • Auto & Transportation

      • Aerospace & Defense
      • Air Freight
      • Airlines & Aviation
      • Automotive
      • Maritime & Shipbuilding
      • Railroads & Intermodal Transportation
      • Supply Chain/Logistics
      • Transportation, Trucking & Railroad
      • Travel
      • Trucking & Road Transportation
      • View All Auto & Transportation

      • Business Technology

      • Blockchain
      • Broadcast Tech
      • Computer & Electronics
      • Computer Hardware
      • Computer Software
      • Data Analytics
      • Electronic Commerce
      • Electronic Components
      • Electronic Design Automation
      • Financial Technology
      • High Tech Security
      • Internet Technology
      • Nanotechnology
      • Networks
      • Peripherals
      • Semiconductors
      • View All Business Technology

      • Entertain­ment & Media

      • Advertising
      • Art
      • Books
      • Entertainment
      • Film & Motion Picture
      • Magazines
      • Music
      • Publishing & Information Services
      • Radio & Podcast
      • Television
      • View All Entertain­ment & Media

      • Financial Services & Investing

      • Accounting News & Issues
      • Acquisitions, Mergers & Takeovers
      • Banking & Financial Services
      • Bankruptcy
      • Bond & Stock Ratings
      • Conference Call Announcements
      • Contracts
      • Cryptocurrency
      • Dividends
      • Earnings
      • Earnings Forecasts & Projections
      • Financing Agreements
      • Insurance
      • Investments Opinions
      • Joint Ventures
      • Mutual Funds
      • Private Placement
      • Real Estate
      • Restructuring & Recapitalisation
      • Sales Reports
      • Shareholder Activism
      • Shareholder Meetings
      • Stock Offering
      • Stock Split
      • Venture Capital
      • View All Financial Services & Investing

      • General Business

      • Awards
      • Commercial Real Estate
      • Corporate Expansion
      • Earnings
      • Environmental, Social and Governance (ESG)
      • Human Resource & Workforce Management
      • Licensing
      • New Products & Services
      • Obituaries
      • Outsourcing Businesses
      • Overseas Real Estate (non-US)
      • Personnel Announcements
      • Real Estate Transactions
      • Residential Real Estate
      • Small Business Services
      • Socially Responsible Investing
      • Surveys, Polls & Research
      • Trade Show News
      • View All General Business

  • Science & Tech
      • Consumer Technology

      • Artificial Intelligence
      • Blockchain
      • Cloud Computing/Internet of Things
      • Computer Electronics
      • Computer Hardware
      • Computer Software
      • Consumer Electronics
      • Cryptocurrency
      • Data Analytics
      • Electronic Commerce
      • Electronic Gaming
      • Financial Technology
      • Mobile Entertainment
      • Multimedia & Internet
      • Peripherals
      • Social Media
      • STEM (Science, Tech, Engineering, Math)
      • Supply Chain/Logistics
      • Wireless Communications
      • View All Consumer Technology

      • Energy & Natural Resources

      • Alternative Energies
      • Chemical
      • Electrical Utilities
      • Gas
      • General Manufacturing
      • Mining
      • Mining & Metals
      • Oil & Energy
      • Oil & Gas Discoveries
      • Utilities
      • Water Utilities
      • View All Energy & Natural Resources

      • Environ­ment

      • Conservation & Recycling
      • Environmental Issues
      • Environmental Policy
      • Environmental Products & Services
      • Green Technology
      • Natural Disasters
      • View All Environ­ment

      • Heavy Industry & Manufacturing

      • Aerospace & Defence
      • Agriculture
      • Chemical
      • Construction & Building
      • General Manufacturing
      • HVAC (Heating, Ventilation & Air-Conditioning)
      • Machinery
      • Machine Tools, Metalworking & Metallurgy
      • Mining
      • Mining & Metals
      • Paper, Forest Products & Containers
      • Precious Metals
      • Textiles
      • Tobacco
      • View All Heavy Industry & Manufacturing

      • Telecomm­unications

      • Carriers & Services
      • Mobile Entertainment
      • Networks
      • Peripherals
      • Telecommunications Equipment
      • Telecommunications Industry
      • VoIP (Voice over Internet Protocol)
      • Wireless Communications
      • View All Telecomm­unications

  • Lifestyle & Health
      • Consumer Products & Retail

      • Animals & Pets
      • Beers, Wines & Spirits
      • Beverages
      • Bridal Services
      • Cannabis
      • Cosmetics & Personal Care
      • Fashion
      • Food & Beverages
      • Furniture & Furnishings
      • Home Improvement
      • Household, Consumer & Cosmetics
      • Household Products
      • Jewellery
      • Non-Alcoholic Beverages
      • Office Products
      • Organic Food
      • Product Recalls
      • Restaurants
      • Retail
      • Supermarkets
      • Toys
      • View All Consumer Products & Retail

      • Entertain­ment & Media

      • Advertising
      • Art
      • Books
      • Entertainment
      • Film & Motion Picture
      • Magazines
      • Music
      • Publishing & Information Services
      • Radio & Podcast
      • Television
      • View All Entertain­ment & Media

      • Health

      • Biometrics
      • Biotechnology
      • Clinical Trials & Medical Discoveries
      • Dentistry
      • FDA Approval
      • Fitness/Wellness
      • Health Care & Hospitals
      • Health Insurance
      • Infection Control
      • International Medical Approval
      • Medical Equipment
      • Medical Pharmaceuticals
      • Mental Health
      • Pharmaceuticals
      • Supplementary Medicine
      • View All Health

      • Sports

      • General Sports
      • Outdoors, Camping & Hiking
      • Sporting Events
      • Sports Equipment & Accessories
      • View All Sports

      • Travel

      • Amusement Parks & Tourist Attractions
      • Gambling & Casinos
      • Hotels & Resorts
      • Leisure & Tourism
      • Outdoors, Camping & Hiking
      • Passenger Aviation
      • Travel Industry
      • View All Travel

  • Policy & Public Interest
      • Policy & Public Interest

      • Animal Welfare
      • Corporate Social Responsibility
      • Economic News, Trends & Analysis
      • Education
      • Environmental
      • European Government
      • Labour & Union
      • Natural Disasters
      • Not For Profit
      • Public Safety
      • View All Policy & Public Interest

  • People & Culture
      • People & Culture

      • Aboriginal, First Nations & Native American
      • African American
      • Asian American
      • Children
      • Diversity, Equity & Inclusion
      • Hispanic
      • Lesbian, Gay & Bisexual
      • Men's Interest
      • People with Disabilities
      • Religion
      • Senior Citizens
      • Veterans
      • Women
      • View All People & Culture

  • Overview
  • Distribution
  • Paid Placement
  • Multichannel Amplification
  • Disclosure Services
  • SocialBoost
  • Rooms
    • MediaRoom
    • ESG Rooms
  • AI Tools
  • General Enquiries
  • Media Enquiries
  • Partnerships
  • Hamburger menu
  • Cision PR Newswire UK provides press release distribution, targeting, monitoring, and marketing services
  • Send a Release
    • Phone

    • +44 (0)20 7454 5110 from 8 AM - 5:30 PM GMT

    • ALL CONTACT INFO
    • Contact Us

      +44 (0)20 7454 5110
      from 8 AM - 5:30 PM GMT

  • Client Login
  • Send a Release
  • Resources
  • Blog
  • Journalists
  • News in Focus
    • Browse News Releases
    • Regulatory News
  • Business & Money
    • Auto & Transportation
    • Business Technology
    • Entertain­ment & Media
    • Financial Services & Investing
    • General Business
  • Science & Tech
    • Consumer Technology
    • Energy & Natural Resources
    • Environ­ment
    • Heavy Industry & Manufacturing
    • Telecomm­unications
  • Lifestyle & Health
    • Consumer Products & Retail
    • Entertain­ment & Media
    • Health
    • Sports
    • Travel
  • Policy & Public Interest
    • Policy & Public Interest
  • People & Culture
    • People & Culture
  • Client Login
  • Send a Release
  • Resources
  • Blog
  • Journalists
  • Overview
  • Distribution
  • Paid Placement
  • Multichannel Amplification
  • Disclosure Services
  • Cision Communications Cloud®
  • AI Tools
  • Client Login
  • Send a Release
  • Resources
  • Blog
  • Journalists
  • General Enquiries
  • Media Enquiries
  • Partnerships
  • Client Login
  • Send a Release
  • Resources
  • Blog
  • Journalists

Showroomprivé’s 2015 Annual Results : Strong growth in revenues and profitability


News provided by

showroomprive.com

16 Feb, 2016, 18:42 GMT

Share this article

Share toX

Share this article

Share toX

This image opens in the lightbox
showroomprive.com logo (PRNewsFoto/showroomprive.com) (PRNewsFoto/showroomprive.com)

LA PLAINE SANT-DENIS, France, February 16, 2016 /PRNewswire/ --

Showroomprivé, an innovative European player in the online private sales industry, specialized in fashion, announces its results for the financial year ended 31 December 2015. 2015 was a breakthrough year for Showroomprivé, with the realisation of various projects that drove growth.

     (Logo: http://photos.prnewswire.com/prnh/20151124/290566LOGO )

  • Very strong financial performance, in line with the Group's objectives
    • Gross turnover: €605m[1] (+28%)
    • Net revenues: €442.8m (+27%)
    • EBITDA: €23.7m (5.4% of net revenues, +92 basis points)
    • Significant dynamism in France, with net revenue growth of +28% and an EBITDA margin of 8.1%
  • More members, more buyers and more mobile
    • 24.6 million members (+4.4 million)
    • 2.9 million buyers in 2015 (+0.5 million)
    • 5% growth in sales per buyer (to €151.1), driven by the growth in the number of orders per buyer (4.1 orders per buyer, a 6% increase)
    • 70% of traffic and 48% of net revenues achieved via mobile
  • Dynamism driven by innovative initiatives : "Infinity", "single basket",  and "#CollectionIRL"
  • Priorities for 2016:
    • Enrich our offering
    • Pursue innovation in order to improve user experience
    • International: new phase of development, with an organisation closer to local markets
  • Confirmation of the guidance at Group level announced in the context of the initial public offering:
    • Revenues of between €525m and €555m in 2016, to reach €750m in 2018
    • EBITDA margin at Group level of between 5.8% and 6.2% in 2016, and between 7.5% and 8.0% in 2018
    • EBITDA margin in France of around 8.5% in 2016 and 9.5% in 2018

Commenting on this results publication, Showroomprivé co-founders and co-CEOs Thierry Petit and David Dayan said: "2015 was a record year for Showroomprivé with strong growth in both revenues and profitability in spite of a difficult retail environment in the fourth quarter. Our sales grew twice as rapidly as France's e-commerce market as a whole, demonstrating the strong appeal of our offering and the growing notoriety of Showroomprivé. Innovation is key to all the Group's initiatives for the continued improvement of its offering and service quality, which benefits both our members and brand partners. These initiatives enabled us to attract 4.4 million new members in 2015 and more than 750 new brand partners. This very strong performance allows us to confirm our revenue and EBITDA margin guidance at Group level for 2016 and 2018."

Key figures for 2015:

    (EUR million)              2014    2015   %Growth
    Net revenues               349.8   442.8   26.6%
    Total Internet revenues    338.5   433.2   28.0%
    EBITDA                     15.5    23.7    52.7%
    EBITDA as % of revenues    4.4%    5.4%   +92 pts
    Net cash position          43.1    99.1   +129.9%

Key highlights from 2015

  • 2015 was a year of strong and profitable growth
    • Showroomprivé continues to pursue strong growth in France, with an increase in net revenues of 29% for online sales. The Group has thus reinforced its position in its principal market and achieved a sharp increase in profitability, with an EBITDA margin of 8.1% in France.
    • The Group continues its international development across European markets where there remains considerable scope for development within the e-commerce sector. Showroomprivé continues to grow its member base and traffic thanks to the increasing notoriety of the brand.
  • This growth has been driven by a constant capacity for innovation
    • Showroomprivé has unveiled new features and services, including Infinity, an unlimited free delivery service offered on a subscription basis, or the "single basket" which allows customers to assemble purchases from various sales in one basket.
    • Showroomprivé has launched for the first time its own brand, #CollectionIRL: a basics collection designed for its core target, the digital woman. The first two sales, held during the fourth quarter, reaped very promising results.
    • Finally, Showroomprivé inaugurated in June its innovation hub, Look Forward, which has already welcomed six start-ups, demonstrating the Group's commitment to supporting innovation at the crossroads of fashion and new technologies.
  • In order to support its growth and reinforce its operations, Showroomprivé has opened a third sale production centre in Roubaix (a hub for receiving samples, photo shoots, retouching and online launches).
  • Showroomprivé also successfully entered onto the stock market on 30 October 2015 with a listing on Euronext Paris, providing the Group with an even greater capacity for pursuing its development.

Strategic focus for 2016

In 2016, Showroomprivé will pursue growth by continuing to improve its offering, its customer experience and the quality of the services offered on its site, in order to respond more and more proactively to the expectations of digital women. This will be achieved by focusing on the following objectives:

  • Reinforce the attractiveness and reach of the offering;
  • Stimulate member activity and repeat purchase rate, and retain members by innovating more and more to improve customer experience and service quality;
  • Gain new members via a marketing strategy centred on return on investment;
  • Further develop the brand portfolio and strengthen partnerships with brands through the development of innovative features (search engine, "drive-to-store" offer);
  • Boost international presence with a multi-local strategy. After an initial development period piloted from France, the Group will implement a new approach in the countries where it operates, including the implementation of sourcing structures and teams, and tailoring the offering more specifically to market needs. Showroomprivé will implement innovation on an international scale to strengthen the engagement and loyalty of its members and to accelerate their conversion into buyers.

The implementation of these growth levers enables the Group to confirm its guidance at Group level for 2016 and 2018:

  • Revenues of between €525m and €555m in 2016, to reach €750m in 2018
  • EBITDA margin at Group level of between 5.8% and 6.2% in 2016, and between 7.5% and 8.0% in 2018
  • EBITDA margin in France of around 8.5% in 2016 and 9.5% in 2018
  • Level of operational capex of between 1.3% and 1.5% of revenues
  • Ratio of cash flow from operational activities before tax and after operational capex to EBITDA higher than 100%

The Group enters a new phase of its international development with the implementation of a multi-local strategy. It confirms its objective to generate almost a quarter of its revenues in its international markets in 2018, without providing an objective on this ratio in 2016.

DETAILED COMMENTARY FOR EACH TYPE OF INDICATORS

Revenues

    (EUR million)              2014    2015    %Growth
    Internet revenues
    France                     285.8   370.0    29.4%
    International              52.7    63.2     20.0%
    Total Internet revenues    338.5   433.2    28.0%
    Other revenues             11.3     9.6    -14.9%
    Net revenues               349.8   442.8    26.6%

    (EUR million)              Q4-14   Q4-15   %Growth
    Net revenues               125.2   154.3    23.3%

The Group's revenues are up 27% at 443 million euros, driven by France, where net online revenues have grown by 29%. International sales are up 20% over the year, confirming the development of the Showroomprivé brand across its markets.

At the end of the fourth quarter, the Group's revenues stand at 154 million euros, corresponding to growth of 23% in comparison with 2014. These results reaffirm the strong appeal of Showroomprivé and the resilience of its model within a difficult retail environment, which enabled it to achieve in the fourth quarter almost twice the growth of the French e-commerce market (source: Fevad).

Key performance indicators

                                        2014    2015    %Growth
    Total Members (in millions)         20.2    24.6     21.8%
    Cumulative Buyers (in millions)      4.3     5.5     28.2%
    Buyers (in millions)                 2.4     2.9     21.7%
    Number of Orders (in millions)       9.1    11.7     29.0%
    Revenue per Buyer                   143.7   151.1    5.2%
    Average Number of Orders per Buyer   3.9     4.1     6.0%
    Average Basket Size                 37.2    36.9     -0.8%
    Share of Revenues from Mobile        43%     48%    +5 pts

Revenue growth was driven both by a sharp increase in the number of buyers and by the increase in average revenue per buyer.

The Group gained 4.4 million new members, bringing its total number of members to 24.6 million on 31 December. Thanks to a strong conversion rate, the number of buyers increased by 22% to reach 2.9 million. These new buyers and the increase in the number of orders per buyer (from 3.9 to 4.1) meant a 29% increase in the total number of orders, which reached 11.7 million over the course of the year. Meanwhile, the average revenue per buyer increased by 5% to more than 151 euros, demonstrating the strong appeal of the Group's offering and the growing loyalty of its members.

The Group's growth has been underpinned by mobile, which generated almost 70% of traffic and 48% of net revenues.

EBITDA

    (EUR million)                       2014    2015  %Growth
    France                              19.2    30.9     61.2%
    EBITDA France as % of revenues      6.4%    8.1%
    International                       -3.6    -7.2     97.7%
    EBITDA International as % of
    revenues                           -6.9%  -11.3%
    Total EBITDA                        15.5    23.7     52.7%
    Total EBITDA as % of revenues       4.4%    5.4%

EBITDA increased by 53%: almost twice as rapidly as net revenues. It reached 23.7 million euros, with an EBITDA margin of 5.4%, corresponding to an increase of 92 basis points compared to 2014.

This increase in profitability was driven by France, which reported strong growth in its EBITDA margin, reaching 8.1% at the end of the year (against 6.4% in 2014). Internationally, profitability remains negative due to significant investments in marketing, carried out in order to increase Showroomprivé's notoriety in its less developed markets.

The increase in profitability at Group level is carried by a strong growth in sales and the continuation of a high gross margin, coupled with a strong operating leverage enabled by an operating cost structure largely made up of fixed costs.

Cost structure

    (millions EUR)                    2014    2015    %Growth
    Net revenues                      349.8   442.8    26.6%
    Cost of goods sold               -202.9  -263.7    29.9%
    Gross margin                      146.9   179.2    22.0%
    Gross margin as % of revenues     42.0%   40.5%
    Marketing                         -21.9   -26.9    22.7%
    As % of revenues                  6.3%    6.1%
    Logistics & fulfilment            -84.9  -102.7    20.8%
    As % of revenues                  24.3%   23.2%
    General & administrative
    expenses                          -26.8   -29.9    11.3%
    As % of revenues                  7.7%    6.7%
    Total Opex                       -133.7  -159.4    19.3%
    As % of revenues                  38.2%   36.0%
    Current operating profit          13.2    19.7     50.1%

Gross margin reached more than 179 million euros (+22%) and remained stable in terms of percentage of revenues between the first and second half. It represents 40.5% of revenues (against 42.0% in 2014), which can be explained by:

  • An increase in the share of consignment sales (from 77% to 81% of gross online sales), at a lower gross margin than that of firm sales;
  • The development of new product categories (44% of gross online sales against 40% in 2014) at a lower gross margin than that of fashion items;
  • The implementation of a price investment strategy abroad, which ended at the beginning of the fourth quarter.

Since the operating costs involved in consignment sales and new categories are lower than those for firm sales and fashion products, the decrease in gross margin on these items has no significant impact on EBITDA margin.

Operating costs have decreased from 38.2% to 36.0% of net sales, thanks to the strong operating leverage on the Group's cost structure and an important focus on cost control.

  • Marketing expenses decreased slightly in terms of percentage of sales from 6.3% to 6.1%;
  • Logistics and fulfilment costs decreased more significantly from 24.3% of revenues to 23.2%;
  • Finally, general and administrative expenses fell sharply as a percentage of sales from 7.7% to 6.7%.

Other financial information

    (EUR million)                     2014    2015    %Growth
    Current operating profit          13.2    19.7     50.1%
    Amortisation of intangible
    assets recognized
    upon business reorganisation      -0.8    -0.8      0.0%
    Other operating income and
    expenses                          -2.4    -8.1    236.6%
    Operating profit                  10.0    10.9      8.9%
    Net finance costs                 -0.1    -0.1     -4.9%
    Other financial income and
    expenses                           0.1    -0.1   -303.8%
    Profit before tax                  9.9    10.6      7.5%
    Income taxes                      -4.0    -5.5     36.6%
    Net income                         5.9     5.1    -12.4%

Other operating income and expenses (€8.1 m) can be broken down as follows:

  • 4 million euros in one-off expenses incurred primarily during the preparation of the Group's initial public offering;
  • 4.1 million euros in expenses related to the allocation of a free shares plan, again in the context of the IPO. These charges have no impact on the Group's cash position.

The Group's tax expenses increased by 37% to 5.5 million euros.

Accordingly, net income showed a slight decline, amounting to 5.1 million euros at the end of the year.

Cash flow items

    (EUR million)                     2014    2015
    Cash flow operating activities    19.9    13.9
    Net cash flows from investing
    activities                        -5.1    -6.4
    Net cash flows from financing
    activities                        -0.7    47.7
    Net change in cash                14.2    55.3

Net change in cash is up sharply compared with 2014, at more than 55 million euros.

Cash flow from operational activities amounts to 13.9 million euros. Excluding the one-off items below, they amount to 27.3 million euros. The impact on the Group's generation of operational cash flow amounted to 13.4 million euros, including:

  • 4 million euros in one-off operational expenses linked to the initial public offering
  • 4.2 million euros worth of opportunistic stock purchases at the end of the year which were part of the Group's on-going stock purchases
  • 5.2 million euros due to a disparity in the timing of marketing expenditures between this year and last year: this spending was carried out in September and October this year, versus November and December the previous year.

Capital expenditures increased from 5.1 to 6.4 million euros, remaining constant in terms of percentage of sales at 1.4%. Cash flows from investing activities were used by the Group for investment in tangible and intangible assets, in particular on capitalized research and development costs, and computer equipment.

The sharp rise in cash flow from financing activities reflects the sum raised via the capital increase of the company as part of its IPO (49 million euros).

Analyst and investor conference (in English)

Speakers:

David Dayan Chief Executive Officer

Thierry Petit, Deputy Chief Executive

Nicolas Woussen, Chief Financial Officer

Date: Tuesday 16 February 2016

18:30 Paris time - 17:30 London time - 12:30 New York time

Journalists will only be able to listen to the conference

Webcast link to listen live and for the replay: https://pgi.webcasts.com/starthere.jsp?ei=1092550

Dial-in to listen to the conference LIVE

From France: +33(0)1 76 77 22 27

From the UK: +44(0)20 3427 1904

From the US: +1 212 444 0412

Access code: 8884604

Forward-looking statements 

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.

Upcoming publications

Revenues for the first quarter 2016: 25th April 2016 (after market close)

About showroomprive.com

Showroomprive.com is an innovative European player in the online private sales industry, specialized in fashion. Showroomprivé offers a daily selection of 1500 brand partners on its mobile app or online. It has over 24 million members in France and in eight of its European country markets. Since its launch in 2006, the company has enjoyed quick and profitable growth. Showroomprivé listed on the Euronext Paris market since October 2015 (code: SRP), Showroomprivé registered gross turnover of over 600 million euros in 2015, meaning 443 million euros in net sales, up 27% versus the previous year. The company employs more than 800 people.

APPENDIX

Profit and loss statement

    (milliers EUR)                 2014     2015   %Growth    S2-14    S2-15    %Growth

    Net revenues                  349,791  442,832   26.6%   195,960  243,414    24.2%
    Cost of goods sold           -202,929 -263,679   29.9%  -114,345 -145,180    27.0%
    Gross margin                  146,862  179,153   22.0%    81,615   98,234    20.4%
    Gross margin as % of
    revenues                        42.0%    40.5%             41.6%    40.4%
    Marketing                     -21,929  -26,897   22.7%   -14,463  -19,099    32.1%
    As % of revenues                 6.3%     6.1%              7.4%     7.8%
    Logistics & fulfilment        -84,949  -102,650  20.8%   -46,548  -55,545    19.3%
    As % of revenues                24.3%    23.2%             23.8%    22.8%
    General & administrative
    expenses                      -26,828  -29,861   11.3%   -14,226  -14,312     0.6%
    As % of revenues                 7.7%     6.7%              7.3%     5.9%
    Total Opex                   -133,706 -159,408   19.2%   -75,237  -88,956    18.2%
    As % of revenues                38.2%    36.0%             38.4%    36.5%

    Current operating profit       13,156   19,745   50.1%     6,378    9,278    45.5%
    Amortisation of intangible
    assets

    Recognized upon business

    reorganisation                  -783      -783      0%      -392     -392       0%
    Other operating income and
    expenses                      -2,408    -8,106  236.6%    -2,123   -7,417   249.4%
    Operating profit               9,965    10,856    8.9%     3,863    1,469   -62.0%
    Net finance costs               -144      -137   -4.9%       -77       16  -120.8%
    Other financial income and
    expenses                          52      -106 -303.8%        -6     -169  2716.7%
    Profit before tax              9,873    10,613    7.5%     3,780    1,316   -65.2%
    Income taxes                  -4,003    -5,470   36.6%    -1,336   -1,230    -7.9%
    Net income                     5,870     5,143  -12.4%     2,444       85   -96.5%
    Total EBITDA                  15,531    23,723   52.7%     7,746   11,412    47.3%
    Total EBITDA as % of
    revenues                        4.4%      5.4%              4.0%     4.7%

Key Performance Indicators

                               2014   2015 %Growth  H2-14  H2-15 %Growth
    CUSTOMERS METRICS
    Total Members (in
    thousands)               20,178 24,568   21.8% 20,178 24,568   21.8%
    France                   13,893 16,787   20.8% 13,893 16,787   20.8%
    International             6,285  7,781   23.8%  6,285  7,781   23.8%
    Cumulative Buyers (in
    thousands)                4,303  5,517   28.2%  4,303  5,517   28.2%
    France                    3,536  4,520   27.8%  3,536  4,520   27.8%
    International               767    997   30.0%    767    997   30.0%
    Buyers (in thousands)     2,357  2,867   21.7%  1,731  2,119   22.4%
    France                    1,922  2,389   24.3%  1,424  1,805   26.8%
    International               435    479   10.2%    307    314    2.1%
    Revenue per Buyer (EUR)   143.7  151.1    5.2%  109.5  112.9    3.1%
    France                    148.7  154.9    4.2%  111.7  115.0    3.0%
    International             121.3  132.1    8.9%  100.2  100.9    0.7%

    ORDERS
    Total orders (in
    thousands)                9,108 11,748   29.0%  5,112  6,489   27.0%
    France                    7,728 10,043   29.9%  4,297  5,649   31.5%
    International             1,380  1,705   23.5%    814    841    3.2%
    Average Orders per Buyer
    (in number of orders)       3.9    4.1    6.0%    3.0    3.1    3.7%

    France                      4.0    4.2    4.6%    3.0    3.1    3.7%
    International               3.2    3.6   12.0%    2.7    2.7    1.1%
    Average Basket Size
    (EUR)                      37.2   36.9   -0.8%   37.1   36.9   -0.6%
    France                     37.0   36.8   -0.4%   37.0   36.8   -0.7%
    International              38.2   37.1   -2.8%   37.8   37.7   -0.3%

Balance Sheet

    (EUR thousands)                               2014    2015
    Non-current assets
    Goodwill                                    81,576  81,576
    Other intangible assets                     27,726  28,861
    Tangible assets                             14,141  14,833
    Other non-current assets                     1,256   1,180
    Total non-current assets                   124,699 126,450
    Current assets
    Inventory                                   41,691  57,068
    Accounts receivable                         14,925  24,014
    Deferred tax assets                          2,744   3,058
    Other current assets                        19,388  27,952
    Cash and cash equivalents                   47,730 102,982
    Total current assets                       126,478 215,074
    Total assets                               251,177 341,524

    Long term financial debt                     3,625   2,962
    Obligations to personnel                        89     116
    Deferred taxes                               9,239   9,883
    Total non-current liabilities               12,953  12,961
    Short-term financial debt                    1,005     916
    Accounts payable                            75,362 100,108
    Other current liabilities                   31,141  39,492
    Total current liabilities                  107,508 140,516
    Total liabilities                          120,461 153,477
    Total shareholders' equity                 130,716 188,047
    Total liabilities and shareholders' equity 251,177 341,524

Cash flow

    (EUR thousands)                  2014    2015  H2-14   H2-15
    Net income for the period       5,870   5,143   2,444      85
    Adjustments for non-cash
    items                           3,956   8,640   2,338   6,308
    Cash flow from operations
    before finance costs and
    income tax                      9,826  13,783   4,782   6,393
    Elim of accrued income tax
    expense                         4,003   5,470   1,336    1,23
    Elim of cost of net financial
    debt                              144     137      77     -16
    Impact of change in working
    capital                        13,091  -0,303  20,034  16,864
    Cash flow from operating
    activities before tax          27,064  19,087  26,229  24,471
    Income tax paid                -7,195  -5,141  -2,567  -2,600
    Cash flow operating
    activities                     19,869  13,946  23,662  21,871

    Acquisitions of property
    plant & equipment and
    intangible assets              -4,920  -6,348  -1,323  -4,189
    Changes in loans and advances    -217     -79    -399      -4
    Disposal of fixed assets           78      19      78      19
    Net cash flows from investing
    activities                     -5,059  -6,408  -1,644  -4,174

    Increase in share capital and
    share premium reserves                 48,888       0  48,888
    Issuance of indebtedness            0       0       0       0
    Repayment of borrowings          -507  -1,037    -264    -472
    Net interest expense             -144    -137     -77      16
    Net cash flows from financing
    activities                       -651  47,714    -341  48,432

Bridge of Total Gross Internet sales to IFRS Net Revenues

    (EUR thousand)                   2013    2014    2015    H2-14   H2-15
    Total gross Internet sales1     327,600 458,745 591,674 257,541 329,092
    VAT2                            -51,056 -72,223 -93,515 -40,449 -55,456
    Revenue recognition impacts3    -35,053 -51,647 -68,900 -28,998 -36,388
    Non-Internet revenue and other4 15,368  14,916  13,573   7,866   6,163
    Net revenues (IFRS)             256,859 349,791 442,832 195,960 243,411

(1) Corresponds to the total amount billed to buyers during a given period.

(2) Value added tax is applied on every sale. The applicable value-added tax rate depends on the country where the buyer is located.

(3) Accounting adjustments for revenue recognition as described in Note 1.13 of the Group's annual consolidated financial statements, including: (i) timing differences due to the fact that certain criteria (e.g., delivery) must be fulfilled before recognizing revenue; (ii) the impact of reimbursements granted for cancellations and returns, which are recognized as a reduction of the revenue; and (iii) the effect of presenting certain travel sales on a net basis where the Group acts as an agent.

(4) "Non-internet revenue and other" corresponds primarily to revenues generated from offline sales to wholesalers, including offline re-sales of returned internet sales items.

[1] Tax-inclusive turnover, including Gross Internet Sales and Non-Internet Revenues

This is a disclosure announcement from PR Newswire.

Modal title

Contact PR Newswire

  • +44 (0)20 7454 5110
    from 8 AM - 5:30 PM GMT
  • General Enquiries
  • Media Enquiries
  • Partnerships

Products

  • Content Distribution
  • Multimedia Services
  • Disclosure Services
  • Cision Communications Cloud®

About

  • About PR Newswire
  • About Cision
  • Partnering Opportunities
  • Careers
  • Accessibility Statement
  • APAC
  • APAC - Simplified Chinese
  • APAC - Traditional Chinese
  • Brazil
  • Canada
  • Czech
  • Denmark
  • Finland
  • France
  • Germany
  • India
  • Indonesia
  • Israel
  • Japan
  • Korea
  • Mexico
  • Middle East
  • Middle East - Arabic
  • Netherlands
  • Norway
  • Poland
  • Portugal
  • Russia
  • Slovakia
  • Spain
  • Sweden
  • United States
  • Vietnam

My Services

  • All News Releases
  • Customer Portal
  • Resources
  • Blog
  • Journalists
  • Data Privacy

Do not sell or share my personal information:

  • Submit via Privacy@cision.com 
  • Call Privacy toll-free: 877-297-8921

Contact PR Newswire

Products

About

My Services
  • All News Releases
  • Customer Portal
  • Resources
  • Blog
  • Journalists
+44 (0)20 7454 5110
from 8 AM - 5:30 PM GMT
  • Terms of Use
  • Privacy Policy
  • Information Security Policy
  • Site Map
  • RSS
  • Cookie Settings
Copyright © 2025 PR Newswire Europe Limited. All Rights Reserved. A Cision company.