from Fashionette AG
EQS-Adhoc: fashionette AG publishes preliminary figures for the first half of 2023 and raises earnings forecast for 2023
EQS-Ad-hoc: fashionette AG / Key word(s): Change in Forecast
fashionette AG publishes preliminary figures for the first half of 2023 and raises earnings forecast for 2023
18-Aug-2023 / 13:30 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by EQS News - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
fashionette AG publishes preliminary figures for the first half of 2023 and raises earnings forecast for 2023
Düsseldorf, 18 August 2023. The Management Board of fashionette AG (ISIN DE000A2QEFA1) raises the previous forecast for the operating earnings (adjusted EBITDA) for the financial year 2023 based on the preliminary figures for the first half of 2023. The background is a faster implementation of the initiated cost reduction and efficiency program, with corresponding positive effects on earnings development.
In the first half of 2023, the fashionette Group increased its operating earnings (adjusted EBITDA) from EUR 0.5 million in the same period of the previous year to EUR 1.5 million, thus achieving a significant improvement in the operating earnings. As expected, revenue decreased from EUR 73.4 million to EUR 62.0 million as a result of the focus on higher-margin products and the discontinuation of the Beauty and Smartwatches business units.
Based on the effects of the cost reduction and efficiency program, the Management Board of fashionette AG raises the forecast for the operating earnings (adjusted EBITDA) from previously EUR 2 to EUR 3 million up to EUR 5 million to EUR 6 million. In terms of revenues, the Management Board continues to expect growth between +5% and +8% compared to the previous year 2022. In particular, the launch of the platform business for luxury fashion will contribute to significant revenue growth from September onwards. Moreover, revenues in the fourth quarter are always the strongest in the course of the year for fashionette.
Detailed financial information
The complete interim statement for the first half of 2023 of fashionette AG will be available at https://corporate.fashionette.com/publications/ for download from 21 August 2023.
Communicating Person:
Laura Vogelsang
Member of the Management Board
fashionette AG
Investor Relations
+49 170 444 2006
ir@fashionette.de
Schloss Elbroich | Am Falder 4 | 40589 Düsseldorf | Germany
corporate.fashionette.com
Public Relations
presse@fashionette.de
Schloss Elbroich | Am Falder 4 | 40589 Düsseldorf | Germany
corporate.fashionette.com
End of Inside Information
18-Aug-2023 CET/CEST The EQS Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
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| Language: | English |
| Company: | fashionette AG |
| Lierenfelder Straße 45 | |
| 40231 Düsseldorf | |
| Germany | |
| E-mail: | ir@fashionette.com |
| Internet: | corporate.fashionette.com |
| ISIN: | DE000A2QEFA1 |
| WKN: | A2QEFA |
| Listed: | Regulated Unofficial Market in Berlin, Dusseldorf, Frankfurt (Scale), Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange |
| EQS News ID: | 1707075 |
| End of Announcement | EQS News Service |
1707075 18-Aug-2023 CET/CEST