SRP GROUPE
Showroomprive.com
CONTINUATION OF THE BUSINESS MOMENTUM since the beginning of the FOURTH QUARTER - 2020 target EBITDA RAISED
SHOWROOMPRIVÉ raises ITS 2020 EBITDA[1] FORECAST TO OVER ?30 MILLION La Plaine Saint Denis, 16 December 2020 - Showroomprivé (SRP Group), a leading European online retailer specialising in fashion for the Digital Woman, is recording an excellent year-end performance in line with the trend observed over the past two quarters and therefore raises its 2020 EBITDA target from the forecast previously announced.
During this 4th quarter, traditionally the strongest of the year, sales benefited from the pre-Christmas sales surge amid a favourable environment for e-commerce. Sales were reinforced by the success of the advertising campaigns conducted since Q2 2020 aimed at repositioning the brand, which attracted a host of new shoppers whilst consolidating the repeat customer base.
This attractiveness was further reinforced by the enhanced offering of new premium brands, the results of intensive work by the sales teams. Accordingly, since the beginning of 2020, around 3,000 partner brands have placed their trust in the Group, enabling over 30% growth vs. 2019 and a very strong retention rate.
This excellent business momentum exceeding targets previously announced has a virtuous effect on profitability. As such, the Group raises its 2020 EBITDA target and forecasts it to be over ?30 million from close to ?20 million as previously announced.
This performance is driven by the favourable environment for e-commerce linked to the health crisis as well as the rewards of the 2018-2020 Performance Plan rolled out in order to optimise all key corporate functions: greater selectivity with regards to the product offering, logistics rationalisation, the development of the drop-shipping and control of operating and marketing expenses.
Following the implementation of the Group's refinancing, the strengthening of its capital and the significant uplift of its operational performance, the Group tackles the beginning of 2021 with good momentum. The Group will publish its annual results in March 2021.
UPCOMING INFORMATION 2020 results: March 2021
FORWARD-LOOKING STATEMENTS This press release solely contains summary information and is not intended to be detailed. This press release may contain forward-looking information and statements relating to the Group and its subsidiaries. These statements include financial projections and estimates and their underlying hypotheses, statements with respect to plans, to objectives and to expectations relating to operations that are still to come, to future revenues and services, and statements with respect to future performance. Forward-looking statements can be identified by the words "believe", "anticipate", "objective" or similar expressions. Even if the Group believes that the expectations reflected by such forward looking statements are reasonable, investors and shareholders of the Group are advised of the fact that the information and forward-looking statements are subject to numerous risks and uncertainties, many of which are difficult to predict and generally out of the control of the Group, which could imply that the effective results and events can differ significantly and in an unfavourable manner from those that are communicated, implied or indicated by this information and these forward looking statements. These risks and uncertainties include those that are advanced or identified in the documents filed or that are to be filed with the Financial Markets Authority by the Group (in particular those detailed in chapter 4 of the reference document of the Company). The Group does not take on any commitment to publish updates of the forward-looking information, this whether subsequent to new information, to future events or to any other element.
ABOUT showroomprive.com Showroomprivé.com is a European player in event-driven online sales that is innovative and specialized in fashion. Showroomprivé proposes a daily selection of more than 2,000 partner brands over its mobile applications or its Internet site in France and in six other countries. Since its creation in 2006, the company has undergone quick growth.
Listed on the Euronext Paris market (code: SRP), Showroomprivé achieved a gross internet business volume with all taxes included of more than 822 million euros in 2019, and net revenue of 616 million euros. The Group employs more than 950 people.
For more information: https://www.showroomprivegroup.com
Contacts
[1] EBITDA, according to the definition used by the Company, is obtained by deducting from net income: the amortisation of assets recognised following a business combination; amortisation and depreciation of intangible assets and property, plant and equipment; the costs of share-based payments, including the expense arising from expensing the fair value of bonus shares and stock options granted to employees over the vesting period; other non-recurring operating income or expenses, net cost of debt and other financial income and expenses, and the tax expense for the year Regulatory filing PDF file File: CONTINUATION OF THE BUSINESS MOMENTUM SINCE THE BEGINNING OF THE FOURTH QUARTER - 2020 TARGET EBITDA RAISED |
| Language: | English |
| Company: | Showroomprive.com |
| 1, rue des Blés - ZAC Montjoie | |
| 93210 La Plaine Saint-Denis | |
| France | |
| Internet: | showroomprive.com |
| ISIN: | FR0013006558 |
| AMF Category: | Inside information / Other releases |
| EQS News ID: | 1155852 |
| End of Announcement | EQS News Service |
1155852 16-Dec-2020 CET/CEST
