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MarketScreener Homepage  >  Equities  >  Xetra  >  Zalando SE    ZAL   DE000ZAL1111

ZALANDO SE

(ZAL)
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Zalando : Raises 2020 Full Year Outlook on the Back of Strong Third Quarter

10/12/2020 | 08:05am EST
Zalando SE Raises 2020 Full Year Outlook on the Back of Strong Third Quarter
Published on08.10.2020

Financial Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014

BERLIN, October 8, 2020 // Zalando SE, Europe's leading online platform for fashion and lifestyle, raises its outlook for the 2020 financial year after exceptionally strong and profitable growth in the third quarter.


The company now expects gross merchandise volume (GMV) to grow 25-27%, revenues to grow 20-22% and an adjusted EBIT of 375-425 million euros for the financial year 2020. In its outlook published on July 15, 2020, Zalando previously assumed GMV growth of 20-25%, revenue growth of 15-20% and adjusted EBIT of 250-300 million euros for the full year.


According to preliminary figures for the third quarter of 2020, Zalando increased its gross merchandise volume (GMV) by 28-31% to 2.43-2.48 billion euros (Q3 2019: 1.89 billion euros) and revenues by 20-23% to 1.83-1.87 billion euros (Q3 2019: 1.52 billion). The adjusted EBIT in the same period is expected between 100-130 million euros (Q3 2019: 6.3 million).


The continued very strong and successful execution of the Zalando platform strategy, against the backdrop of an accelerated consumer demand shift towards digital offerings in the course of the corona pandemic, has positively impacted the strong development in the third quarter. Zalando also benefited from a continued lower return rate and a substantial one-off effect caused by the reversal of the exceptional write-down of inventories. These had been booked in March, at a point in time when the subsequent fast and sustained recovery of consumer demand was not foreseeable.


Zalando will publish its financial figures for the third quarter on November 4, 2020 as planned.


Person making the notification: Dr. Martin Hager, Team Lead Capital Markets Law

Boiler Plate - Q2 2020 - EN

About Zalando

Zalando is Europe's leading online platform for fashion and lifestyle. Founded in Berlin in 2008, we bring head-to-toe fashion to more than 34 million active customers in 17 markets, offering clothing, footwear, accessories and beauty. The assortment of international brands ranges from world famous names to local labels. Our platform is a one-stop fashion destination for inspiration, innovation and interaction. As Europe's most fashionable tech company, we work hard to find digital solutions for every aspect of the fashion journey: for our customers, partners and every valuable player in the Zalando story. Our goal is to become the starting point for fashion.

Name Alexander Styles
Position: Corporate Communications / Financial Communications
Email: alexander.styles@zalando.de
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Disclaimer

Zalando SE published this content on 08 October 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 12 October 2020 12:04:02 UTC


© Publicnow 2020
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Sales 2020 7 835 M 9 448 M 9 448 M
Net income 2020 216 M 260 M 260 M
Net cash 2020 910 M 1 097 M 1 097 M
P/E ratio 2020 96,0x
Yield 2020 -
Capitalization 20 723 M 24 979 M 24 989 M
EV / Sales 2020 2,53x
EV / Sales 2021 2,12x
Nbr of Employees 13 709
Free-Float 63,7%
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Mean consensus OUTPERFORM
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Average target price 83,81 €
Last Close Price 82,30 €
Spread / Highest target 33,7%
Spread / Average Target 1,84%
Spread / Lowest Target -54,1%
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NameTitle
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David Schneider Co-Chief Executive Officer
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