About You revenue €1.7 billion in 2021
German fashion retailer About You has released its preliminary Q4 and full-year results. It was able to grow its revenue between 48.3 and 50.5 percent when compared to a year before. However, the branch is also suffering millions in losses because of growth investments.
About You went public in early 2021 and is in the hand of the German ecommerce giant Otto Group. In its second quarter results for 2021, the company showed a year-on-year growth of over 50 percent. It also reported an adjusted EBITDA of over 13 million euros in loss.
Revenue growth up to 50.5%
Today, the online retailer released its preliminary Q4 and full-year results, stating that it was able to grow its revenue in 2021 with 48.3 to 50.5 percent. This means that its revenue is between 1,730 and 1,760 million euros.
‘The adjusted EBITDA is between -70 and -60 million euros in 2021.’
However, the adjusted EBITDA margin came to between -4 and -3.4 percent in 2021. The company has suffered losses between 70 and 60 million euros. It reduced its marketing spending in Q4 due to market conditions, meaning that the adjusted EBITDA would have been lower if that hadn’t been the case.
International segment exceeds DACH
About You is now operating in 23 markets outside of DACH. In November last year, it announced its launch in Greece and Portugal, after entering Spain and Italy just a month before. Additionally, the company announced its Global Shipping Platform in December to offer shipping to 100 countries all over the world.
‘About You is now operating in 23 markets outside of DACH.’
“While adjusted EBITDA was affected by heavy investments, the international Rest of Europe segment’s quarterly revenue exceeded the DACH segment for the first time in Q4 2021”, says the press release of the company.
Group revenue of 5 billion in 3 years
“We are proud of what About You has achieved in this past year. We have continued to make significant progress on our growth levers to further improve our online shop, expand the footprint of our Commerce and B2B businesses, and proceed on our path to profitability. Today’s preliminary results underpin About You’s robust business model, even in a volatile market environment. Looking ahead, we are optimistically well on track for our targeted Group-level break-even in the coming financial year and a Group revenue of 5 billion euros two years after that.”