Sales at About You rise, but so do losses

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

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

The market in Germany, Austria and Switzerland remains the most important market for the retailer, with sales of 239 million euros. 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.

Despite this, About You is still not profitable: adjusted EBITDA, or 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 still 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 start of the Ukraine war.

According to the full-year forecast, EBITDA is expected to fall to -70 to -50 million euros, while sales are expected to increase by 25 to 35 percent. "The continued growth in ABOUT YOU's established and also new European markets, the improved targeting from marketing and operational efficiency continues to make us very confident of becoming profitable at group level in the 2023/2024 financial year," says About-You co-founder and CEO Tarek Müller.