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Key figures 2024

March 6, 2025
Investor Relations
Financials

2024

2023

Change

Key performance
indicators

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

15,296.2

14,631.0

4.5%

Revenue
(in m EUR)

10,572.5

10,143.1

4.2%

Adjusted EBIT
(in m EUR)

511.1

349.9

46.0%

Adjusted EBIT
margin (as %)

4.8

3.5

1.4pp

EBIT
(in m EUR)

391.9

190.9

>100%

EBIT margin
(as %)

3.7

1.9

1.8pp

Capex
(in m EUR)

-206.9

-263.2

-21.4%

Active customers (LTM**)
(in millions)

51.8

49.6

4.5%

Number of orders
(in millions)

251.0

244.8

2.5%

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

295.4

295.2

0.1%

Average orders per
active customer (LTM**)

4.8

4.9

-1.9%

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

60.9

59.8

2.0%

Other key figures

Net working capital
(in m EUR)

-269.3

-441.8

39.0%

Equity ratio
(as % of total assets)

33.4

30.5

2.9pp

Cash flow from
operating activities
(in m EUR)

654.1

949.5

-31.1%

Cash flow from
investing activities
(in m EUR)

-269.8

-320.7

15.9%

Free cash flow
(in m EUR)

379.4

683.8

-44.5%

Cash and
cash equivalents
(in m EUR)

2,587.8

2,533.2

2.2%

Average number
of employees

15,309

15,793

-3.1%

Basic earnings
per share (in EUR)

0.97

0.32

>100%

Diluted earnings
per share (in EUR)

0.96

0.32

>100%

pp = percentage points

Rounding differences may arise in the percentages and numbers provided 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 includes neither B2B revenues (e.g. ZEOS services) nor other B2C revenues (e.g. partner business commissions, Zalando Marketing Services and service charges like express delivery fees); these are included in revenue only. GMV is recorded based on the time of the customers’ order. Due to the dynamic reporting of GMV, prior-year figures may deviate from former published reports.

**) Calculated based on the last 12 months (LTM).