// Made.com reports full-year loss after supply chain disruption
// The furniture retailer saw a pretax loss of £31.4m in the 12 months to December 31
Made.com has reported a loss in its full-year results after it was “adversely affected by global freight inflation and supply chain disruption”.
The furniture retailer saw a pretax loss of £31.4 million in the 12 months to December 31, a further decline from the loss of £14.6% reported in the same period last year.
This included “one-off IPO related” costs of £5.3 million.
READ MORE: Made.com chief executive Philippe Chainieux steps down
Revenues rose by 50% in the year to £371.9 million. The retailer also noted that deferred revenue at the end of the financial year stood at £56 million due to extended lead times as a result of ongoing supply chain disruption.
Adjusted EBITDA decreased to a loss of £14.3 million, a decrease from the previous year’s loss of £5.1m.
Net cash stood at £107 million at the end of the year, while gross margin was impacted by “global freight inflationary pressures”.
Made.com also confirmed the appointment of Nicola Thompson, its current interim chief executive, as permanent boss of the company with immediate effect.
Thompson previously held the role of chief operating officer of the company.
She was hired as interim chief executive last month when Philippe Chainieux stepped down due to family reasons.
Chair Susanne Given said: “The Board is delighted to confirm Nicola’s appointment as CEO. She is an impressive and compassionate leader and the right person to lead the business into its next phase of growth.”
“I am proud of the excellent growth and strategic progress the business has delivered since its IPO. We have a strong strategic plan in place to drive further and continuous growth. We will build on Made’s position as the leading digital destination for home through investing in the customer experience, the further development of our curated homewares range and growing the brand internationally.
“The strength of the brand and the management team combined with its strong cash position means Made is uniquely placed to act on the opportunities ahead.”
Click here to sign up to Retail Gazette‘s free daily email newsletter
