GLOBAL FASHION GROUP UPGRADES FULL YEAR 2020 OUTLOOK AFTER STRONG Q3 GROWTH AND PROFITABILITY10/08/2020
DGAP-Ad-hoc: GLOBAL FASHION GROUP UPGRADES FULL YEAR 2020 OUTLOOK AFTER STRONG Q3 GROWTH AND PROFITABILITY
Global Fashion Group S.A. / Key word(s): 9 Month figures
GLOBAL FASHION GROUP UPGRADES FULL YEAR 2020 OUTLOOK AFTER STRONG Q3 GROWTH AND PROFITABILITY
Luxembourg, 8 October 2020 - Global Fashion Group S.A. ("GFG"), the leading online fashion and lifestyle destination in growth markets, updates its outlook for the current financial year as a result of exceptionally strong trading in Q3.
It now expects to be profitable with respect to Adjusted EBITDA and achieve constant currency Net Merchandise Value ("NMV") growth of around 23%, delivering c.€1.9 billion NMV and c.€1.3 billion of revenue. Capex investment will be around €45 million. This guidance is based on the currency exchange rates at 30 September 2020. In its outlook statement published on 20 August 2020, GFG previously guided to constant currency NMV growth of c.20%, delivering c.€1.9 billion NMV and c.€1.3 billion of revenue. GFG expected to approach breakeven with respect to Adjusted EBITDA and capex investment of no more than €45 million.
The Company expects Q3 to be another Adjusted EBITDA-profitable and cash flow-positive quarter as a result of strong customer demand. Preliminary results indicate the following expected performance in Q3:
GFG will publish its third quarter results on 12 November 2020 as scheduled.
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.
Person making the notification: Andin Fonyonga, Group Head of Legal & Compliance.
For inquiries please contact:
Press / Communications
Forward looking information
About Global Fashion Group
For more information visit: www.global-fashion-group.com
|Company:||Global Fashion Group S.A.|
|Phone:||+352 691 20 56 54|
|Listed:||Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Dusseldorf, Tradegate Exchange; Luxembourg Stock Exchange|
|EQS News ID:||1139869|
|End of Announcement||DGAP News Service|