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    FSNT   DE000A2QEFA1

FASHIONETTE AG

(FSNT)
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PRESS RELEASE : fashionette AG publishes annual report 2020 - Growth targets exceeded and further revenue increase of 49% to 58% expected in 2021

04/30/2021 | 04:20am EDT
DGAP-News: fashionette AG / Key word(s): Annual Report 
fashionette AG publishes annual report 2020 - Growth targets exceeded and further revenue increase of 49% to 58% 
expected in 2021 
2021-04-30 / 07:30 
The issuer is solely responsible for the content of this announcement. 
=---------------------------------------------------------------------------------------------------------------------- 
fashionette AG publishes annual report 2020 - Growth targets exceeded and further revenue increase of 49% to 58% 
expected in 2021 
 
  . Audited annual financial statements confirm preliminary results 
  . Net revenue +30% to EUR 94.8 million 
  . Adjusted EBITDA +25% to EUR 8.9 million 
  . Customer order quantity +46% 
  . +63% new customers and +50% active customers 
  . Forcast 2021 including acquisition of Brandfield: growth in net revenue to approx. EUR 141 million to EUR 150 
    million and adjusted EBITDA of EUR 5.0 million to EUR 6.9 million 
Dusseldorf, 30 April 2021. fashionette AG (ISIN DE000A2QEFA1 / WKN A2QEFA), a leading European data-driven online 
platform for premium and luxury fashion accessories, publishes its 2020 Annual Report today, confirming the preliminary 
figures. 
fashionette exceeded its strategic and financial targets in the 2020 financial year and achieved new record figures for 
revenue and adjusted earnings. The significant increase in both new customers (+63.2% to 240 thousand) and active 
customers (+49.7% to 357 thousand), who placed 608 thousand (+45.8%) orders, played a key role. Especially outside the 
core markets Germany, Austria and Switzerland (DACH), the company achieved significant growth of 71.9% compared to the 
previous year. 
Net revenue (after credits for returns and discounts) rose by +29.6% to EUR 94.8 million in the year under review. The 
increase is due to two decisive factors. On the one hand, further diversification at product category level with a 
simultaneous significant expansion of the assortment by +59.3%. On the other hand, the continuous development of the 
proprietary, data-driven online platform. The assortment and the shopping experience ensured an increasing popularity 
among customers. 
fashionette increased its adjusted earnings before interest, taxes, depreciation and amortisation (EBITDA) by +24.5% to 
EUR 8.9 million, which corresponds to an adjusted EBITDA margin of 9.4%. The one-off expenses mainly relate to costs 
for the IPO. 
The operating cash flow tripled to EUR 5.2 million compared to the previous year, despite the strong growth. 
Liabilities to banks were repaid in full. With financial resources of EUR 31.8 million, fashionette AG has sufficient 
capital to finance further growth plans. 
"2020 has been an extraordinary year in every respect. Despite many challenges, we managed to achieve record turnover 
and results. We are continuously optimising our offer and improving our platform to meet the high demands of our 
customers. This is due to the passionate commitment of our team. At the same time, we will not lose sight of our goal: 
To expand our position as the leading European data-driven online platform for premium and luxury fashion accessories. 
Therefore, it is now important to build on this great success and use the tailwind for the tasks ahead," says Daniel 
Raab, CEO of fashionette. 
Forecast 2021 
In the wake of the acquisition of Brandfield announced yesterday (execution expected for 1 July), the Executive Board 
now expects net revenue growth for the current financial year to exceed the forecast published in the Annual Report 
2020 by around 49% to 58% to approximately EUR 141 million to EUR 150 million (organic, as communicated in the Annual 
Report 25% to 30% to EUR 118 million to EUR 123 million). With investments in further growth, especially for marketing 
expenses, an adjusted operating profit before interest, taxes, depreciation and amortisation (EBITDA) of around EUR 5.0 
million to EUR 6.9 million is expected, with an adjusted EBITDA margin of between 3.5% and 4.6%. 
Key financial figures 
                                                                 2020     2019       ? 
 
Net revenue (in EUR k)                                          94,812   73,160    29.6% 
Gross profit (in EUR k)                                         37,514   29,894    25.5% 
Gross margin (share in percent)                                 39.6%    40.9%    -1.3 PP 
EBITDA reported (in EUR k)                                      5,881    6,771    -13.1% 
EBITDA-margin reported (share in percent)                        6.2%     9.3%    -3.1 PP 
Adjusted EBITDA (in EUR k)                                      8.894    7,146     24.5% 
Adjusted EBITDA-margin (share in percent)                        9.4%     9.8%    -0.4 PP 
Cash flow from operating activities (in EUR k)                  5,241    1,843     >100% 
Cash and cash equivalents at the end of the period (in EUR k)   31,829   -6,273    >100% 

Detailed financial information

The Annual Report 2020 and a current company presentation are available at ir.fashionette.com. Conference Call/Webcast

Today, 30 April 2021 at 10:00 a.m. (CEST), a conference call/webcast will be held in English for analysts, institutional investors and representatives of the press. To register, please send an email to: ir@fashionette.com About fashionette:

fashionette is a leading European data-driven online platform for premium and luxury fashion accessories such as handbags, shoes, sunglasses, watches and jewellery. Since its founding in 2008, fashionette has built market-leading brand awareness for premium and luxury handbags in its core market of Germany. The focus of fashionette is to make personalised online shopping of premium and luxury fashion accessories accessible to all customers in Europe. For more information about fashionette, please visit the fashionette websites at corporate.fashionette.com (corporate website) and www.fashionette.com (webshop). fashionette AG

Investor Relations ir@fashionette.com T: +49 (0)211 17607828 Lierenfelder Straße 45 | 40231 Düsseldorf | Germany corporate.fashionette.com fashionette AG Press contact

Susan Hoffmeister ir@fashionette.com T: +49 (0)89 125 09 03 30 -----------------------------------------------------------------------------------------------------------------------

2021-04-30 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement. The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.dgap.de -----------------------------------------------------------------------------------------------------------------------

Language:     English 
Company:      fashionette AG 
              Lierenfelder Straße 45 
              40231 Düsseldorf 
              Germany 
E-mail:       ir@fashionette.com 
Internet:     corporate.fashionette.com 
ISIN:         DE000A2QEFA1 
WKN:          A2QEFA 
Listed:       Regulated Unofficial Market in Berlin, Dusseldorf, Frankfurt (Scale), Hamburg, Hanover, Munich, 
              Stuttgart, Tradegate Exchange 
EQS News ID:  1190886 
 
End of News   DGAP News Service 
=------------ 

1190886 2021-04-30

 
Image link: 
https://eqs-cockpit.com/cgi-bin/fncls.ssp?fn=show_t_gif&application_id=1190886&application_name=news 
 

(END) Dow Jones Newswires

April 30, 2021 01:31 ET (05:31 GMT)

Stocks mentioned in the article
ChangeLast1st jan.
DJ INDUSTRIAL 0.20% 33945.58 Delayed Quote.10.69%
FASHIONETTE AG 0.30% 33.5 Delayed Quote.2.77%
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Financials
Sales 2021 148 M 176 M 176 M
Net income 2021 1,25 M 1,49 M 1,49 M
Net cash 2021 8,75 M 10,4 M 10,4 M
P/E ratio 2021 163x
Yield 2021 -
Capitalization 208 M 247 M 248 M
EV / Sales 2021 1,35x
EV / Sales 2022 0,90x
Nbr of Employees 148
Free-Float 94,8%
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Technical analysis trends FASHIONETTE AG
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Income Statement Evolution
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Mean consensus BUY
Number of Analysts 2
Last Close Price 33,50 €
Average target price 61,50 €
Spread / Average Target 83,6%
EPS Revisions
Managers and Directors
NameTitle
Daniel Raab Chairman-Management Board & CEO
Oliver Serg Chairman-Supervisory Board
Thomas Buhl Chief Operating & Technology Officer
Stefan Schütze Deputy Chairman-Supervisory Board
Karoline Huber Member-Supervisory Board
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