GERMANY: Zalando achieves positive margin in H1
- H1 revenues increase 29.5%
- EBIT margin at 1.2%
German online fashion retailer Zalando has had a promising start to the year as revenues grew in the first half and it achieved positive EBIT margin.
Group revenues increased by 29.5% to EUR1.05bn (US$1.39bn) in the three month period compared to EUR809m in the year ago quarter, which was impacted by adverse weather conditions.
Zalando recorded positive group EBIT margin of 1.2%, driven by all major cost lines including cost of sales, fulfillment and marketing.
Zalando board member Rubin Ritter, said: "Achieving a positive group EBIT margin in the first half-year is a major success for Zalando. Historically, our performance in the first half of any financial year tended to be weaker than in the second half."
The company added that the ramp-up of operations at its new fulfilment centre in Mönchengladbach is on track and fulfilment efficiency has increased during the first half-year 2014.
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