Global Fashion Group S.A.: GLOBAL FASHION GROUP ADJUSTS ITS OUTLOOK FOR FULL YEAR 202112/09/2021
DGAP-Ad-hoc: Global Fashion Group S.A.: GLOBAL FASHION GROUP ADJUSTS ITS OUTLOOK FOR FULL YEAR 2021
Global Fashion Group S.A. / Key word(s): Change in Forecast
GLOBAL FASHION GROUP ADJUSTS ITS OUTLOOK FOR FULL YEAR 2021
Luxembourg, 9th December 2021 - Global Fashion Group S.A. ("GFG"), the leading online fashion and lifestyle destination in growth markets, adjusts its outlook for the full year 2021.
Following a strong start to the quarter with c.28% constant currency NMV growth for October, GFG saw demand weaken through the subsequent key trading weeks and into December. This reduces full-year expectations for NMV, Revenue and Adjusted EBITDA.
GFG now expects to achieve constant currency growth of around 23% for the full year, representing €2.3 - €2.4 billion of NMV and c.€1.5 billion of Revenue. Adjusted EBITDA is expected to be around €10 million. In its outlook, published on 11 November 2021, GFG previously guided to NMV constant currency growth of over 25%, representing €2.3 - €2.4 billion of NMV and c.€1.5 billion of Revenue. GFG expected to deliver a modest improvement in Adjusted EBITDA versus last year's €16 million.
All figures reported herein are preliminary and unaudited. GFG will report its financial figures for the fourth quarter results on 8 March 2022.
Person making the notification: Claire Higgins, Group Senior Legal Counsel.
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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:||1256270|
|End of Announcement||DGAP News Service|