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Key figures 2023

March 13, 2024
Investor Relations
Financials

2023

2022

Change

Key performance
indicators

Gross Merchandise
Volume (GMV*)
(in EUR m)

14,631.6

14,788.7

-1.1%

Revenue
(in EUR m)

10,143.1

10,344.8

-1.9%

Adjusted EBIT
(in EUR m)

349.9

184.6

89.5%

Adjusted EBIT
margin (as %)

3.5

1.8

1.7pp

EBIT
(in EUR m)

190.9

81.0

>100%

EBIT margin
(as %)

1.9

0.8

1.1pp

Capex
(in EUR m)

-263.2

-351.7

-25.2%

Active customers (LTM**)
(in millions)

49.6

51.2

-3.3%

Number of orders
(in millions)

244.8

261.1

-6.2%

Average GMV* per
active customer
(LTM**) (in EUR)

295.2

288.6

2.3%

Average orders per
active customer (LTM**)

4.9

5.1

-3.1%

Average basket size (LTM**)
(in EUR)

59.8

56.6

5.5%

Other key figures

Net working capital
(in EUR m)

-441.8

-211.6

>100%

Equity ratio
(as % of total assets)

30.5

28.8

1.6pp

Cash flow from
operating activities
(in EUR m)

949.5

459.9

>100%

Cash flow from
investing activities
(in EUR m)

-320.7

-476.2

32.7%

Free cash flow
(in EUR m)

683.8

-18.8

>100%

Cash and
cash equivalents
(in EUR m)

2,533.2

2,024.8

25.1%

Average number
of employees

15,793

16,999

-7.1%

Basic earnings
per share (in EUR)

0.32

0.07

>100%

Diluted earnings
per share (in EUR)

0.32

0.06

>100%

pp = percentage points

Rounding differences may arise in the percentages and numbers shown in this annual report.

*) GMV (Gross Merchandise Volume) is defined as the value of all merchandise sold to customers after cancellations and returns and including VAT,
dynamically reported. It does not include B2B revenues (e.g. Partner Program commission, Zalando Marketing Services or Zalando Fulfillment Solutions) and other B2C revenues (e.g. service charges like express delivery fees); these are included in revenue only. GMV is recorded based on the time of the customer order.

**) Calculated based on the last twelve months (LTM).