By Friedrich Geiger
BERLIN--?Online fashion retailer ?Zalando SE (>> Zalando SE) Wednesday said its adjusted first-quarter earnings were around the same level as a year earlier, despite revenues growing strongly.
Adjusted earnings before interest and tax were 10 million euros ($11 million) to EUR30 million in the January-to-March quarter, compared to EUR20.2 million year earlier, according to the German ?company's preliminary figures. Analysts had on average expected adjusted EBIT of EUR29 million. Revenue was EUR971 million to EUR987 million, a 22% to 24% increase on the year. Zalando is set to release additional financial data, including net profit, on May 9.
"We are fully on track with our long-term aspirations and keep expanding our business at high speed, while investing into our consumer experience and brand partner proposition," said co-Chief Executive Rubin Ritter.
Zalando confirmed its full-year guidance, ?forecasting 20% to 25% revenue growth and an adjusted EBIT margin of 5.0% to 6.0%.
Zalando said supervisory board members Lorenzo Grabau, the former CEO of Kinnevik AB (KINV-B.SK), and United Internet AG (>> United Internet AG) supervisory board member Kai-Uwe Ricke, wouldn't seek reelection to the company's supervisory board at the shareholder meeting in May. Instead, the board recommended Infineon Technologies AG (>> Infineon Technologies AG (ADR)) Chief Financial Officer Dominik Asam and Shanna Preve, managing director business development for Alphabet Inc.'s (>> Alphabet Inc) Google Consumer Hardware Group for election to the board.
Write to Friedrich Geiger at [email protected]