Zalando SE Upgrades Full Year Guidance for 2020

BERLIN, July 15 2020 // Zalando SE, Europe’s leading online platform for fashion and lifestyle has upgraded its full year guidance after exceptionally strong and profitable growth in the second quarter. The company expects to grow Gross Merchandise Volume (GMV) by 20-25 percent and revenue by 15-20 percent in 2020, and it expects an adjusted EBIT of 250-300 million euros. 

According to preliminary figures for the second quarter of 2020, Zalando has grown GMV by 32-34 percent to 2.67-2.71 billion euros (Q2 2019: 2.02 billion), and group revenues by 26-28 percent to 2.01-2.05 billion euros (Q2 2019: 1.60 billion). Zalando expects an adjusted EBIT in the range of 200-220 million euros (Q2 2019: 101.7 million).

As part of its platform strategy, the company will continue to invest in its European logistics network and technology infrastructure and sticks to its Capex guidance of planned investments of 230-280 million euros this year. Furthermore, the Group expects a continued negative net working capital for the fiscal year 2020.

The new guidance is significantly above the one that Zalando had published on May 6th. Back then, the company had expected GMV and revenue growth of 10-20 percent and an adjusted EBIT of 100-200 million euros as a result of the impacts of the coronavirus pandemic. 

Together with this notification, Zalando has published a press release with the preliminary results for the second quarter of 2020. The financial results for the second quarter will be published on August 11, 2020. 

Person making the notification: Ramona Bobbert, Head of Corporate Law

Boiler Plate - TU 04/2019 - EN

About Zalando

Zalando is Europe’s leading online platform for fashion and lifestyle. Founded in Berlin in 2008, we bring head-to-toe fashion to around 32 million active customers in 17 markets, offering clothing, footwear, accessories and beauty. The assortment of international brands ranges from world famous names to local labels. Our platform is a one-stop fashion destination for inspiration, innovation and interaction. As Europe’s most fashionable tech company, we work hard to find digital solutions for every aspect of the fashion journey: for our customers, partners and every valuable player in the Zalando story. Our goal is to become the starting point for fashion.