GLOBAL FASHION GROUP UPGRADES OUTLOOK FOR FULL YEAR 202011/11/2020
DGAP-Ad-hoc: GLOBAL FASHION GROUP UPGRADES OUTLOOK FOR FULL YEAR 2020
Global Fashion Group S.A. / Key word(s): Change in Forecast/Results Forecast
GLOBAL FASHION GROUP UPGRADES OUTLOOK FOR FULL YEAR 2020
GFG now expects to achieve constant currency Net Merchandise Value ("NMV") growth of around 25%, giving just over €1.9 billion NMV and €1.3 billion of revenue. Adjusted EBITDA is expected to be at least €10 million. Capex investment will remain around €45 million. This guidance is based on current currency exchange rates. In its outlook published on 8 October 2020, GFG guided to constant currency NMV growth of around 23%, delivering c.€1.9 billion NMV and c.€1.3 billion of revenue. GFG expected to be profitable with respect to Adjusted EBITDA and capex investment of around €45 million.
GFG will publish its third quarter results on 12 November 2020 as scheduled.
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For more information visit: www.global-fashion-group.com
11-Nov-2020 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
|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:||1147490|
|End of Announcement||DGAP News Service|