Sales at About You rise, but so do losses

About You aims to become profitable by the 2023/2024 financial year. EBITDA is currently still at minus 28.8 million euros.

About You has announced its business figures for the first quarter of 2022: The fashion platform's turnover rose to 504.1 million euros. This corresponds to revenue growth of 19.4 percent compared to the previous year. The company's customer base also increased: from 9.2 million active customers in the same quarter of the previous year to 11.8 million in the first three months of this year.

The market in Germany, Austria and Switzerland remains the retailer's most important market with sales of 239 million euros. The markets in the rest of Europe - Belgium, the Netherlands, the Nordic countries and Southern Europe - also grew by 23.3 percent to 229.5 million euros.

Nevertheless, About You is still not profitable: adjusted EBITDA, i.e. earnings or loss before interest, taxes, depreciation and amortization, amounted to minus 28.8 million euros in the first quarter of this year. In the same period last year, the loss was 12.3 million euros. According to the company, this is due to ongoing investments, particularly in international expansion, but also to a short-term slump in demand at the beginning of the war in Ukraine.

According to the forecast for the year as a whole, EBITDA is expected to fall to between -70 and -50 million euros and turnover is set to increase by 25 to 35 percent. "The sustained growth in ABOUT YOU's established and new European markets, the improved marketing focus and operational efficiency continue to make us very confident that we will become profitable at Group level in the 2023/2024 financial year," says About You co-founder and CEO Tarek Müller.