// Zalando Q1 EBITDA up from £0.3m to £5.5m
// 15.2% sales growth to £1.2bn
// Customers increased by 14.1% to 27.2m
Zalando has reported a sales and profits increase in the first quarter, thanks to “expanding its customer reach”.
The German fashion ecommerce platform said its adjusted EBITDA during the first quarter increased from €400,000 (£300,000) to €6.5 million (£5.5 million).
Zalando also recorded an increase of 15.2 per cent in sales growth €1.4 billion (£1.2 billion), a dip from 22 per cent for the first quarter last year.
Meanwhile, Zalando’s gross merchandise volume (GMV) grew by 23.1 per cent to €1.8 billion (£1.5 billion) and revenues grew by 15.2 per cent to €1.4 billion (£1.2 billion).
GMV growth notably outpaced revenue growth due to Zalando’s development of the Partner Program and revenue recognition effects.
Since the start of the year, Zalando has recorded an active customer base, saying the number of customers increased by 14.1 per cent to 27.2 million, as well as a 29.5 per cent rise in website visits to 924 million.
“Our clear customer focus has paid off in the first quarter, as we made further headway to build the starting point for fashion in Europe,” Zalando co-chief executive Rubin Ritter said.
Chief financial officer David Schröder said: “We are happy with our financial results in the first quarter, which show a strong focus on growth and are in line with our annual guidance.
“We will continue to invest in areas of our business that have high added value for our customers.”
The company has also announced plans to bolster its development by connecting with customer via Zalando Plus, which is available for all Zalando customers in Germany.
Zalando will post second quarter results on August 1.