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Fibre2Fashion
26-05-2025
- Business
- Fibre2Fashion
Germany's Otto Group returns to profit with $314.64 mn EBIT in FY24-25
German retail company Otto Group has generated a revenue of just under €15 billion (~$17.1 billion) and significantly improved profitability in financial year 2024-25, ended February 28, 2025. The EBIT surged to €276 million (~$314.64 million) from €8 million the previous year, while EBITDA rose to €916 million. The group recorded a net profit of €165 million (~$188.10 million) and reduced net financial debt by €579 million, improving its equity ratio to 36 per cent. The platforms segment, led by Otto and About You, grew by 4.7 per cent, with Otto's gross merchandise value (GMV) rising 9 per cent to over €7 billion. Section-wise, About You also performed strongly, increasing revenue to €2 billion. However, Brand Concepts saw a 3.3 per cent revenue dip due to challenges in the US market, despite solid gains by Witt group and Crate and Barrel. The retailer segment declined by 4 per cent to down to €1.7 billion following strategic exits, while services grew by 12 per cent and financial services rose by 5.8 per cent, driven by the EOS group, Otto said in a press release. Otto Group has reported revenue just under €15 billion (~$17.1 billion) in financial year 2024-25, with EBIT surging to €276 million (~$314.64 million) and net profit reaching €165 million. Growth in platforms, especially Otto and About You, offset dips in Brand Concepts and retailers. The group launched a new strategy focused on customer needs and core business scaling, aiming for profitability by 2030. 'Despite the continuing and extremely tense geopolitical environment and the gloomy consumer sentiment we are still experiencing especially in Germany, our clear focus has enabled us to succeed not only in keeping revenues stable, but also in bringing the Otto Group clearly into the black at all earnings levels. We have faced up to the challenges of the market and coped with them very well. Of course, we are satisfied with what we have achieved over the past financial year. This has further 2 increased our financial stability and now allows us to look forward with a degree of optimism,' said Petra Scharner-Wolff, chairwoman of the executive board and chief executive officer (CEO) of Otto Group. The Otto group has launched a new strategic agenda focused on customer needs, scaling core businesses like Otto, Crate & Barrel, and EOS, and expanding operations in Europe and North America. Aiming for greater financial freedom by 2030, the group is prioritising profitability, investment capacity, and technological competitiveness, especially through GenAI. Significant IT and logistics investments have already enhanced efficiency. Mahbobeh Sabetnia joins the executive board to lead on technology and retail. Despite ongoing global uncertainties, the group targets stable revenue and increased profitability, maintaining its long-term, value-driven vision, added the release. Fibre2Fashion News Desk (SG)
Fashion United
08-05-2025
- Business
- Fashion United
Before takeover by Zalando: About You increases annual sales and reduces loss
Hamburg-based online fashion retailer About You Holding SE presented its results for the financial year 2024/25, shortly before its planned takeover by competitor Zalando. On Thursday, the e-commerce specialist announced that it had met its forecasts with an increase in sales and progress in earnings. In the past financial year, which ended at the end of February, group sales reached approximately two billion dollars, the highest in the company's history. Revenues increased by 3.4 percent compared to the previous year. Sales in the fashion category grew by 8 percent to 990.4 million dollars in the core DACH region, which includes Germany, Austria and Switzerland, and by 1 percent to 935 million dollars in the other European markets. According to the company, both the number of active customers (plus 4.8 percent) and orders (plus 1.2 percent) increased compared to the previous year. About You reports significant improvement in earnings In the Tech, Media and Enabling (TME) segment, which includes the B2B platform operator Scayle, sales rose by 1.1 percent to 191 million dollars. Thanks in part to an increase in the gross margin from 38.7 to 40.4 percent, the group was able to significantly improve its earnings. Earnings before interest, taxes, depreciation and amortisation (EBITDA), adjusted for special effects, which had been 3.2 million dollars in the previous year, jumped to 28.1 million dollars. The reported net loss decreased by 4.9 percent from 112.2 million dollars to 106.7 million dollars. Planned takeover by Zalando is proceeding 'according to plan' About You believes it is 'well positioned' for the current financial year 2025/26. The management board expects 'moderate growth in group sales and a strong increase in adjusted EBITDA compared to the previous year', according to a statement. At the same time, the company expects the takeover by Berlin-based online retailer Zalando SE to be completed. About You explained that 'the takeover process is proceeding according to plan along the lines of the processes communicated since December 2024'. The completion of the transaction is still 'subject to regulatory approvals' and is 'expected to take place in the summer of 2025'. This article was translated to English using an AI tool. FashionUnited uses AI language tools to speed up translating (news) articles and proofread the translations to improve the end result. This saves our human journalists time they can spend doing research and writing original articles. Articles translated with the help of AI are checked and edited by a human desk editor prior to going online. If you have questions or comments about this process email us at info@
