Zalando Turns To Profit In Q1 On Strong Revenues, GMV; Lifts FY21 Outlook - Quick Facts

German e-commerce company Zalando SE reported Thursday that its first-quarter net income was 34.5 million euros, compared to last year's loss of 86.4 million euros.

Adjusted group EBIT was 93.3 million euros, compared to loss of 98.6 million euros a year ago. Adjusted group EBIT margin was 4.2 percent, compared to last year's negative 6.5 percent.

Group revenue climbed 46.8 percent to 2.24 billion euros from prior year's 1.52 billion euros.

Group Gross Merchandise Volume or GMV for the quarter climbed 55.6 percent to 3.15 billion euros from 2.03 billion euros a year ago.

Further, Zalando upgraded its outlook for the financial year 2021 following exceptionally strong and profitable growth in the first quarter, continued elevated growth levels in the second quarter, and a stable outlook for the second half of the year.

The company now expects GMV to grow 31-36 percent to 14.0-14.6 billion euros for the financial year 2021. The company expects revenues to grow 26-31 percent to 10.1-10.5 billion euros and an adjusted EBIT of 400 million euros to 475 million euros in the same period.

Zalando previously assumed GMV growth of 27-32 percent, revenue growth of 24-29 percent and an adjusted EBIT of 350 million euros to 425 million euros for 2021.

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