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Otto’s online revenues increased by 6.5% to 6.6 billion euros

Otto’s online revenues increased by 6.5% to 6.6 billion euros

Retail and service company Otto Group had a successful 2015/2016 financial year, especially with regards to its online department. Total turnover increased by 4.3 percent, while its online revenues rose by 6.5 percent (or 400 million euros) to reach 6.6 billion euros. In Germany, online revenues even increased by some 10 percent to 4.4 billion euros.

And these figures show home country Germany is still the company’s most important market. Otto Group released the preliminary results last week, stating the successful year was characterized by “very satisfactory growth at the large core companies and a consistent reorganization of the company portfolio”.

Sales from 3SI Group and Otto Russia declined – again
The company also explained that while revenues in North and South America and in Great Britain partly saw strong increased, sales figures of the French 3SI Group and Otto Group Russia still declined again. Last week it became clear the 3SI Group has decided to stop its ecommerce activities in six European markets.  According to Chairman Hans-Otto Schrader, Otto now established a solid basis for the coming years by focusing more on ecommerce and reorganizing its company portfolio.

As said, the main driver of Otto Group’s growth was ecommerce. Online revenues increased by 6.5 percent to reach 6.6 billion euros. And two-thirds of this was generated in its home country Germany. Otto Group did well in 2015, due to a strong year for Otto, the group’s largest single company. Otto increased by 10 percent to reach 2.6 billion euros. Fashion retailer Bonprix, which is active in 29 countries, saw its revenues rose by almost 11 percent to reach 1.4 billion euros.

16.6 percent growth for Hermes
Otto Group does not only consists of retail business, the group also comprises several service companies. The service segment for example, is dominated by logistics company the Hermes Group, which reported revenues that rose by 16.6 percent to 1.7 billion euros.