Global Fashion Group Shows Improved Profitability in Q3 2024

Global Fashion Group S.A. (GFG), a leader in online fashion in LATAM, SEA, and ANZ, reported enhanced profitability in Q3 2024. The Gross Margin increased to 44.6% from 42.1% last year, while Adjusted EBITDA margin improved significantly, despite a 3.0% decrease in revenue. GFG's focus on operational efficiency and reduced discounts played crucial roles in these improvements.

The company's Net Merchandise Value (NMV) reached €264 million, reflecting a 3.8% decline compared to a 19.4% drop last year. This period marked the slowest decline pace in two years, with LATAM and ANZ regions displaying the strongest margins. Meanwhile, SEA faced challenges due to pricing competition.

In Q3, GFG closed with €189 million Pro-Forma Cash and €128 million Pro-Forma Net Cash, actively managing bond repurchases, which yielded a €20 million saving on future repayments. As 2024 progresses, GFG anticipates NMV declines between 8-12%, maintaining focus on enhancing its financial health.