AI Terminal
ABOUT YOU Holding AG
Earnings Release • Jul 15, 2025
728_rns_2025-07-15_a3312c7d-95ff-4a0c-940c-ebaff9df2fdb.pdf
Earnings Release
Open in ViewerOpens in native device viewer
QUARTERLY STATEMENT
ABOUT YOU REPORTS ACCELERATION IN REVENUE GROWTH AND A FURTHER UPLIFT IN PROFITABILITY IN Q1 2025/2026
- Supportive market environment featuring offline-to-online channel shift tailwinds and favorable weather conditions powers a good start to the Spring/Summer 2025 season
- Continued successful execution of the Group's strategic initiatives around Commerce and SCAYLE creates measurable uplift in growth and profitability
- Group revenue grows by 6.0% YoY, supported by a further rise in the number of active customers LTM1
- Group adjusted EBITDA2 margin improves to 4.2% with adjusted EBITDA of EUR 23.2 million, driven by strict operating cost control
- Net working capital declines to EUR -123.3 million and free cash flow comes in at EUR 26.1 million, leading to a solid cash balance of EUR 160.8 million
- Guidance for FY 2025/2026 reiterated: The Management Board continues to expect moderate Group revenue growth and strong growth in adjusted EBITDA
Hamburg | July 15, 2025 – The ABOUT YOU Group started FY 2025/2026 as expected, delivering accelerated revenue growth and a strong increase in adjusted EBITDA. The results were driven by the continued successful execution of the Group's strategic initiatives, an improving market environment, and strict operating cost control.
In Q1 2025/2026, Group revenue increased by 6.0% YoY to EUR 549.4 million (Q1 2024/2025: EUR 518.3 million). The increase in revenue was supported by offline-to-online channel shift tailwinds and favorable weather patterns, resulting in a good start to the Spring/Summer 2025 season. Key driver for the top-line development was the 8.4% YoY increase in the number of active customers, reaching 13.3 million over the last twelve months (Q1 2024/2025 LTM: 12.3 million).
Both segments, Commerce and SCAYLE, benefited from the supportive market environment in Q1 2025/2026 and showed healthy growth rates. The improvement in the Group's profitability is largely attributable to the performance of the Commerce segment in Q1 2025/2026, as SCAYLE continued to leverage its already high-margin levels to invest in its international growth strategy.
Group gross profit increased by 3.6% YoY to EUR 232.0 million in Q1 2025/2026 (Q1 2024/2025: EUR 224.0 million). The gross margin declined by 100 basis points to 42.2% in Q1 2025/2026 (Q1 2024/2025: 43.2%). The slight decline was driven by one-time effects (positive in Q1 2024/2025 and negative in Q1 2025/2026), revenue mix effects, as well as promotional campaigns.
Group adjusted EBITDA amounted to EUR 23.2 million in Q1 2025/2026 (Q1 2024/2025: EUR 15.0 million), corresponding to an adjusted EBITDA margin of 4.2% (Q1 2024/2025: 2.9%). The margin increase was the result of strict operating cost control and operating leverage across fulfillment and administrative cost lines. This was slightly offset by an increase in marketing costs to support revenue growth and to further accelerate new customer acquisition.
1 Last twelve months
2 EBITDA adjusted for (i) equity-settled share-based compensation expenses, (ii) restructuring costs, and (iii) one-time effects
POSITIVE FREE CASH FLOW DEVELOPMENT AND NEGATIVE NET WORKING CAPITAL
Net working capital was at EUR -123.3 million at the end of Q1 2025/2026 (Q1 2024/2025: EUR -63.0 million). This represents a decline of more than EUR 60 million versus last year, which largely results from a reduction in own stock inventories and proactive working capital measures.
Free cash flow (consisting of cash flows from operating and investing activities) amounted to EUR 26.1 million in Q1 2025/2026 (Q1 2024/2025: EUR 46.0 million). Free cash flow was below the prioryear level, mainly due to cut-off effects in net working capital. Cash and cash equivalents increased to EUR 160.8 million as per May 31, 2025 (February 28, 2025: EUR 154.5 million), which marks a healthy cash balance for the business.
CONFIRMED OUTLOOK FOR FY 2025/2026
Based on the performance in Q1 2025/2026 and a solid start to Q2 2025/2026, the Management Board confirms its guidance for FY 2025/2026, anticipating moderate Group revenue growth and strong growth in adjusted EBITDA.
TAKEOVER PROCESS BY ZALANDO SE PROCEEDS AS PLANNED
On July 1, 2025, Zalando announced that the European Commission has granted merger control clearance for the business combination with ABOUT YOU, thus fulfilling all closing conditions for the transaction. The takeover offer was settled on July 11, 2025.
As a next step, Zalando still has the firm intention to carry out a squeeze-out of the remaining minority shareholders of ABOUT YOU and to acquire the remaining ABOUT YOU shares against adequate cash compensation.
The ABOUT YOU team is very much looking forward to working more closely with the Zalando team to capture a larger share of the European fashion and lifestyle e-commerce market.
This Quarterly Statement is available on the Investor Relations website. ABOUT YOU Holding SE will release its Interim Financial Report for H1 2025/2026 on October 14, 2025.
| (in EUR million, unless stated otherwise) |
Q1 2025/2026 |
Q1 2024/2025 |
Change YoY |
|---|---|---|---|
| Key Group Metrics | |||
| Active customers LTM (in million) | 13.3 | 12.3 | 8.4% |
| Revenue | 549.4 | 518.3 | 6.0% |
| Gross profit | 232.0 | 224.0 | 3.6% |
| Gross margin (% of revenue) | 42.2% | 43.2% | (100)bp |
| EBITDA | 16.3 | 9.1 | 79.1% |
| EBITDA (as % of revenue) | 3.0% | 1.8% | 120bp |
| Adjusted EBITDA | 23.2 | 15.0 | 53.9% |
| Adjusted EBITDA (as % of revenue) | 4.2% | 2.9% | 130bp |
| CAPEX | 7.2 | 13.9 | (48.4)% |
| Free cash flow | 26.1 | 46.0 | (43.2)% |
| Cash and cash equivalents | 160.8 | 194.8 | (17.4)% |
| Net working capital | (123.3) | (63.0) | (95.8)% |
Q1 2025/2026 ended on May 31, 2025.
Please refer to ABOUT YOU's Annual Report FY 2024/2025 for definitions.
THE ABOUT YOU GROUP
The ABOUT YOU Group is an international e-commerce group, organized into different strategic business units: The online fashion store ABOUT YOU represents the Group's business-to-consumer business. With over 12 million active customers, ABOUT YOU is one of the largest online retailers for fashion and lifestyle in Europe and the leading provider of a personalized shopping experience on smartphones. In the awardwinning ABOUT YOU app and on aboutyou.com, customers find inspiration and a range of around 750,000 items from nearly 4,000 brands. The Group's business-to-business operations are largely handled by SCAYLE GmbH. SCAYLE offers a modern, cloud-based enterprise shop system that enables brands and retailers to scale their digital businesses quickly and flexibly, and adapt to growing customer needs. Around 300 online stores choose SCAYLE's Commerce technology under a license model, including leading brands and retailers such as Harrods, Manchester United, Deichmann, Fielmann, and FC Bayern. The newest subsidiary of the ABOUT YOU Group, SCAYLE Payments GmbH, complements the Group's portfolio of payment services. The payment service provider received the payment services license from the German Federal Financial Supervisory Authority (BaFin) in October 2024 and is currently being rolled out across various European markets. SCAYLE Payments enables the seamless integration of modern payment solutions and helps to scale customers' digital business models.
For further information, please visit: corporate.aboutyou.de/en.
MEDIA CONTACT
Laila Helmy | Corporate Communications [email protected]
Sinah Brending | Financial Communications [email protected]
INVESTOR RELATIONS CONTACT
Frank Böhme | Investor Relations [email protected]
DISCLAIMER
This publication constitutes neither an offer to sell nor a solicitation to buy securities.
Certain statements contained in this release may constitute "forward-looking statements" that involve several risks and uncertainties. Forward-looking statements are generally identifiable using the words "may", "will", "should", "plan", "expect", "anticipate", "estimate", "believe", "intend", "project", "goal", or "target" or the negative of these words or other variations on these words or comparable terminology. Forward-looking statements are based on assumptions, forecasts, estimates, projections, opinions, or plans that are inherently subject to significant risks, as well as uncertainties and contingencies that are subject to change. No representation is made or will be made by ABOUT YOU Holding SE that any forward-looking statement will be achieved or will prove to be correct. The actual future business, financial position, results of operations, and prospects may differ materially from those projected or forecasted in the forward-looking statements. Neither ABOUT YOU Holding SE nor any of their respective affiliates assume any obligation to update, and do not expect to publicly update, or publicly revise any forward-looking statements or other information contained in this release, whether as a result of new information, future events, or otherwise, except as otherwise required by law.
To improve the control of individual cost items and to increase comparability with competitors, ABOUT YOU works with additional performance indicators, known as Alternative Performance Measures ("APMs"). Four cost APMs are decisive for ABOUT YOU: cost of sales, fulfillment costs, marketing costs, and administrative costs, and their respective ratios to revenue. These APMs break down the Group's costs in a way that it becomes visible where they were incurred. This makes it easier to distinguish costs with variable portions from costs with higher fixed cost portions. The Group's results of operations can hence be managed with greater accuracy.