Germany · Delayed Price · Currency is EUR Global Fashion Group Earnings Call Transcripts
Fiscal Year 2026
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Adjusted EBITDA margin improved by 3.5 points year-over-year, with gross margin gains and cost discipline offsetting a 3% NMV decline. ANZ delivered growth, while LATAM and SEA saw margin expansion. Full-year guidance is reaffirmed, with a focus on customer quality and profitability.
Fiscal Year 2025
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Delivered positive Adjusted EBITDA for all regions in 2025, driven by cost discipline, inventory reduction, and a focus on high-value customers. Guidance for 2026 anticipates stable to modest NMV growth and further margin expansion, despite macroeconomic headwinds.
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Gross margin and adjusted EBITDA margin improved year-over-year, with positive adjusted EBITDA achieved on a last 12-month basis. ANZ and LATAM segments showed growth, while SEA remains a turnaround focus. Guidance narrowed, with break-even to slightly positive adjusted EBITDA expected for the full year.
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Q2 2025 saw stable top-line and improved profitability, with strong growth in LATAM and ANZ offsetting SEA declines. Gross margin and adjusted EBITDA margin reached record Q2 levels, cost efficiencies continued, and full-year guidance was reaffirmed. Marketplace share and AI-driven marketing advanced, while FX and competition remain key risks.
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Group NMV grew 1.3% year-over-year, with gross margin at a record 46% and adjusted EBITDA margin up 3.9 points. LATAM and ANZ drove growth, while SEA focused on cost and assortment improvements. Full-year guidance is reaffirmed, with ongoing cost and margin initiatives.
Fiscal Year 2024
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Record gross margin and improved adjusted EBITDA were achieved in 2024, with LATAM and ANZ returning to growth in Q4 while SEA remains a turnaround focus. Cost reductions, inventory optimization, and a strong cash position support the 2025 goal of adjusted EBITDA break-even.
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Q3 results showed a slower NMV decline, record gross margin, and improved adjusted EBITDA. Customer metrics and inventory efficiency improved, with guidance narrowed for a smaller full-year loss and continued focus on cost savings and operational discipline.
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Q2 2024 saw improved operational efficiency, record gross margin, and a slower decline in NMV and active customers. Cost reductions and platform initiatives drove adjusted EBITDA margin gains, with full-year guidance reaffirmed despite ongoing demand and competitive pressures.