Germany · Delayed Price · Currency is EUR Zalando SE Earnings Call Transcripts
Fiscal Year 2025
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Strong 2025 results and a confident start to 2026 support an optimistic outlook, with AI, retail media, and B2B segments driving growth and margin expansion. Capital allocation focuses on share buybacks and operational efficiency, while About You and SCAYLE deliver double-digit growth.
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Delivered strong double-digit revenue and profit growth in 2025, driven by strategic acquisitions, AI-powered innovation, and expansion in both B2C and B2B. Announced a EUR 300 million share buyback and raised midterm margin targets, with robust guidance for 2026.
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Q3 2025 saw strong revenue and GMV growth, driven by the ABOUT YOU acquisition and robust B2B expansion. Profitability remained solid despite margin pressure, and full-year guidance was confirmed. Integration synergies and new partnerships are expected to fuel further growth.
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Strong H1 2025 results with 6.2% GMV and 7.6% revenue growth, improved profitability, and successful About You acquisition. 2025 guidance raised, with expected 12-15% GMV growth and EUR 550-600 million adjusted EBIT, driven by ecosystem strategy and B2B expansion.
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2024 saw record customer growth, strong financial results, and a 51% share price increase. Strategic focus includes expanding the e-commerce ecosystem, launching new loyalty programs, and acquiring ABOUT YOU, with sustainability and reinvestment prioritized.
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Q1 2025 saw 6.5% GMV and 7.9% revenue growth, with improved profitability and strong B2C/B2B performance. The About You acquisition is on track, the loyalty program expanded, and guidance for 2025 is confirmed despite a stable but muted market environment.
Fiscal Year 2024
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2025 guidance targets 4%-9% growth in revenue and GMV, driven by strategic initiatives and stable cost structure. Adjusted EBITDA margin improved to 4.8% in 2024, with further gains expected. Loyalty program expansion, About You integration, and strong cash position support long-term growth.
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Delivered strong 2024 results with GMV up 4.5% and adjusted EBIT margin rising to 4.8%. Expects 2025 GMV and revenue growth of 4%-9%, with About You acquisition set to accelerate growth and synergies.
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The acquisition of About You will create a leading pan-European fashion and lifestyle e-commerce group, leveraging a dual-brand strategy and complementary B2B platforms. The €1.1 billion deal is expected to deliver €100 million in annual synergies, with closing targeted for summer 2025.
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Q3 2024 delivered strong top-line growth and margin expansion, driven by robust demand and effective execution of the ecosystem strategy. Upgraded full-year guidance reflects continued momentum, with investments in loyalty, logistics, and AI engagement supporting future growth.
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Q2 2024 saw a return to growth with 2.8% GMV and 3.4% revenue increases, margin expansion, and strong B2B and B2C performance. Full-year guidance is reiterated, with H2 profitability impacted by strategic investments and higher fixed costs from logistics expansion.