E-commerce player Global Fashion Group reported a decline in revenue and Net Merchandise Value (NMV) for the first quarter compared to the same period last year, while the adjusted EBITDA loss narrowed significantly and margins improved.

Revenue amounted to 137.9 million euro (145.9), a decrease of 5.5 percent. NMV reached 215.2 million euro (226.3), down 4.9 percent.

Gross profit totaled 64.1 million euro (67.2), corresponding to a gross margin of 46.5 percent (46.0).

Adjusted EBITDA improved to -5.3 million euro (-10.7), while EBIT amounted to -17.7 million euro (-22.9).

The company is reiterating its full-year 2026 guidance. NMV is expected to develop within a range of -4 to +4 percent, and adjusted EBITDA is projected to reach 15-25 million euro.

The CEO stated that the focus on cost control and customer quality contributed to a clear margin improvement during the quarter.

Investment firm Kinnevik is a shareholder in GFG with a 35 percent stake.

Key figuresQ1-26Q1-25Change (%)
Revenue137.9145.9-5.5%
EBITDA (adjusted)-5.3-10.750.5%
EBITDA margin (adjusted)-3.8%-7.3%3.5pp
Operating profit-17.7-22.922.7%