zooplus SE
zooplus AG: Strong sales growth continues; earnings before taxes improve
DGAP-News: zooplus AG / Key word(s): Half Year Results zooplus AG: Strong sales growth continues; earnings before taxes improve – Sales rise 29% to EUR 428.4 million (H1 2015: EUR 333.0 million) – Earnings before taxes (EBT) increase to EUR 5.1 million (H1 2015: EUR 3.6 million) – Positive free cash flow reaches EUR 8.7 million (H1 2015: EUR 5.8 million) – Company raises 2016 sales forecast to at least EUR 900 million and continues to expect EBT in the range of EUR 14 million to EUR 18 million Munich, August 18, 2016 – zooplus AG (WKN 511170, ISIN DE0005111702, ticker symbol ZO1), Europe’s leading online retailer of pet supplies, continued its profitable growth path in the first half of 2016 and further strengthened its market position. Sales increased 29% year-on-year to EUR 428.4 million (H1 2015: EUR 333.0 million). The recurring double-digit sales growth generated in all 30 countries in the zooplus AG portfolio was mainly driven by growth in the food segment, the continued high loyalty of its customer base, and increased sales with new customers. Amid a persistently intense competitive environment, earnings before taxes (EBT) rose to EUR 5.1 million in the first half of 2016 compared to a level of EUR 3.6 million in the first half of the prior year. The earnings impact from a decline in the gross margin was more than offset by a rise in other operating income and a further improvement in the cost structure. Other operating income mainly consists of advertising cost subsidies from suppliers, which totaled 4.7% of sales in the first half of 2016 compared to 3.3% in the first half of 2015. The total cost of marketing, logistics, personnel, administration, depreciation, amortization and interest as a percentage of sales was reduced to 28.4% following a level of 29.6% in the previous year. The company generated significant positive free cash flow of EUR 8.7 million in the first half of 2016 compared to EUR 5.8 million in the previous year. Dr. Cornelius Patt, CEO of zooplus AG, in his comments on the company’s business performance stated: “The sales growth generated in the first half of 2016 exceeded our expectations. We are especially pleased that our operating business finances our continued high level of growth and generates positive free cash flow at the same time. In this intensely competitive market, we will use our growth focus to continue expanding our leadership in the European market for online pet supplies. This, in turn, will raise our medium- and long-term earnings potential.” Given the company’s positive business performance, the Management Board has raised its sales forecast from at least EUR 875 million to at least EUR 900 million for the full year of 2016. The Management Board also reconfirmed its original forecast for earnings before taxes (EBT) and continues to expect EBT in the range of EUR 14 million to EUR 18 million. In parallel with the high sales growth, zooplus is also continuing to expand its logistics infrastructure. The next step in this process will be to increase the capacity of the existing logistics centers and open a fifth logistics center in Antwerp, which is planned for the fourth quarter of 2016. As with the existing logistics centers, the new logistics center will be operated together with a partner, the Katoen Natie Group, and will in particular focus on imported products and fast-moving articles. The full report for the first six months of 2016 is available on the company’s website at investors.zooplus.com.
Online at: www.zooplus.de Investor relations/media contact:
2016-08-18 Dissemination of a Corporate News, transmitted by DGAP – a service of EQS Group AG. |
Language: | English | |
Company: | zooplus AG | |
Sonnenstraße 15 | ||
80331 München | ||
Germany | ||
Phone: | +49 (0)89 95 006 – 100 | |
Fax: | +49 (0)89 95 006 – 500 | |
E-mail: | contact@zooplus.com | |
Internet: | www.zooplus.de | |
ISIN: | DE0005111702 | |
WKN: | 511170 | |
Indices: | SDAX | |
Listed: | Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Stuttgart, Tradegate Exchange | |
End of News | DGAP News Service |