• 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.