About You closes 2023 at two speeds. The German online fashion distribution company has ended 2023 increasing its turnover, but continues to post losses. However, the company’s red numbers for the year have been below what was recorded in 2022. The company assures that it expects “brighter market conditions” and that it predicts profitable growth for the coming years, as reported this Tuesday. .
In fiscal year 2023, the German company had a turnover of 1,935 million euros, 5.2% more than in the previous fiscal year. For its part, The company’s losses were 112.2 million euros, compared to the red numbers of 229 million euros in 2022.
The company’s gross operating profit (EBITDA) was 3.2 million euros, compared to the negative EBITDA of 137 million euros that About You recorded in the previous fiscal year.
“Despite an uncertain market environment, the group reached EBITDA breakevenoutperformed the revenue growth of the European online fashion market and laid a solid foundation for accelerated and profitable growth,” celebrated the German company.
About You assures that it expects “brighter market conditions” and that it predicts profitable growth for the coming years.
By markets, the German company has highlighted that its sales in its three main territories (Germany, Austria and Switzerland) remained stable compared to the previous year, with the same turnover. In the rest of the European markets, the company’s sales increased by 3%up to 925.9 million euros.
By 2024, the group plans to “continue with its strategic initiatives”, which include the use of artificial intelligence on its website with the aim of personalizing the digital shopping experience. About You’s focus is on the younger generations and in April it launched Maya, a virtual shopping assistant with the intention of penetrating these new consumers.
Following your roadmap, The company expects to bill between 1% and 10% more at the end of the year. In addition, About You expects to achieve an EBITDA of between ten and thirty million euros.
