ZOOPLUS SE
DGAP-News: zooplus AG
/ Key word(s): 9 Month figures/Quarterly / Interim Statement
zooplus AG: Increase in sales to EUR 1.1 bn accompanied by positive EBITDA in the first nine months of 2019
Earnings before interest, taxes, depreciation and amortization (EBITDA) amounted to EUR 6.7 m in the first nine months of the current financial year compared to EUR -0.5 m in the same prior-year period. Earnings before taxes (EBT) totaled EUR -13.9 m compared to EUR -7.6 m in the prior-year period, reflecting a higher level of investment. At the same time, zooplus generated positive free cash flow of EUR 9.5 m, despite continued investment in expanding the business. A further improvement in working capital had a positive effect. The gross margin (sales less cost of materials in % of sales) improved in the first nine months of 2019 and increased by 0.5 percentage points compared to the same period in the prior year to 28.5%. A key contributor to this improvement was the continued expansion in the high-margin private label business, as well as a further decline in the number of non-profitable customer orders. Logistics expenses as a percentage of sales were significantly reduced by 1.6 percentage points, of which a 0.8 percentage point reduction was achieved through operational improvements. The remaining decline is attributable to the adoption of IFRS 16 as of the beginning of 2019. The gross margin improvement and efficiency gains in the cost structure were once again reinvested in the company. Investment continues to focus on sustainably expanding the business and strengthening the company's leading market position throughout Europe. Consequently, marketing and new customer acquisition expenses as a percentage of sales grew by 1.4 percentage point to 3.3% in the first nine months of 2019. Dr. Cornelius Patt, CEO of zooplus AG, commented on the company's performance, saying: "We have made solid progress in the first nine months in further stabilizing our gross margin and even improving it slightly compared to the prior year. As a result of further optimization measures throughout our pan-European logistics network and an increase in the value per shipped parcel, we were again able to significantly reduce our logistics costs. We are reinvesting these efficiency gains specifically in sustainably expanding the business while maintaining a clear focus on growth and customer retention. We see strong momentum in new customer acquisitions, recording year-on-year growth of 25%. Significant potential, however, lies in increasing our sales retention rate among new customers, which is the distinct focus of our direct marketing approach and our overall customer proposition." Against the background of the anticipated business development during the further course of the year 2019, the Management Board of zooplus AG confirms its guidance for the 2019 financial year for 14% to 18% sales growth and earnings before interest, taxes, depreciation and amortization (EBITDA) in the range of EUR 10 m to EUR 30 m. The full report for the first nine months of the 2019 financial year is available on the company's website at http://investors.zooplus.com.
Online at: www.zooplus.de Media contact:
14.11.2019 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. |
| Language: | English |
| Company: | zooplus AG |
| Sonnenstraße 15 | |
| 80331 München | |
| Germany | |
| Phone: | +49 (0)89 95 006 - 100 |
| Fax: | +49 (0)89 95 006 - 500 |
| E-mail: | contact@zooplus.com |
| Internet: | www.zooplus.de |
| ISIN: | DE0005111702 |
| WKN: | 511170 |
| Indices: | SDAX |
| Listed: | Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange |
| EQS News ID: | 912465 |
| End of News | DGAP News Service |
912465 14.11.2019
