Zalando FY21 Profit, GMV Climb; Sees Higher FY22 Results - Quick Facts

(RTTNews) - Zalando SE (ZLNDY), a German online platform for fashion and lifestyle, reported Tuesday that its fiscal 2021 net income grew to 234.5 million euros from last year's 226.1 million euros.

Adjusted EBIT was 468.4 million euros, up from 420.8 million euros a year ago. Adjusted group EBIT margin, meanwhile, dropped to 4.5 percent from prior year's 5.3 percent.

Revenue grew 29.7 percent to 10.35 billion euros from 7.98 billion euros a year ago.

Zalando reported Gross Merchandise Volume or GMV growth of 34.1 percent to 14.3 billion euros from 10.70 billion euros last year, driven by continued strong consumer demand for online offerings and increasing partner adoption of platform services.

The company recorded significant customer growth with more than 10 million new customers.

The company said its membership program Zalando Plus passes the 1 million member milestone and will double the number of Plus markets by the end of 2023.

Looking ahead, the company expects fiscal 2022 GMV growth of 16-23 percent to 16.6 billion euros to 17.6 billion euros and revenue to grow 12-19 percent to 11.6 billion euros to 12.3 billion euros.

The company projects adjusted EBIT at 430 million euros to 510 million euros. The expectations exclude a potential negative impact from the war in Ukraine.

Zalando said it is on track with 2025 growth plan to reach more than 30 billion euros GMV, fueled by strong customer growth in 2021.