ABOUT YOU delivers resilient top-line growth and confirms full-year guidance in Q1 2022/2023

● Top-line growth of +19.4% YoY to EUR 504.1 million in Q1 2022/2023, against the backdrop of challenging macroeconomic conditions and consumer sentiment effects across Europe ● Group adj. EBITDA [1] of EUR -28.8 million (margin: -5.7%) caused by continued investments in strategic growth initiatives and one-time effects, relating to the Russia-Ukraine conflict ● Growth in customers and frequency, normalising value: +27.7% YoY active customers to 11.8 million LTM [2] in Q1 2022/2023, AOF [3]: 3.0x (+5.4% YoY) and AOV [4]: EUR 56.8 (-2.2% YoY), as normalisation of returns rate is offsetting price increases ● Commerce segments with solid revenue growth (DACH: +9.6% YoY, Rest of Europe: +23.3% YoY) – DACH adj. EBITDA margin decreased to 4.1% (-3.8pp YoY), RoE to -20.1% (-2.1pp YoY) ● Segment Tech, Media, and Enabling (TME) with continued high revenue growth (+45.2% YoY) regardless of tough comparatives, driven by expansion of SCAYLE – adj. EBITDA margin improved to 14.0% (+0.4pp YoY) ● Guidance for FY 2022/2023 reiterated: +25.0 to 35.0% Group revenue growth YoY (EUR 2,165 to 2,338 million), adj. EBITDA of EUR -70 to -50 million (margin: -3.2 to -2.1%), supported by comprehensive bottom-line measures on path to profitability

BOUT YOU Holding SE (with its consolidated subsidiaries “ABOUT YOU” or “Group”), one of Europe’s fastestgrowing online fashion platforms of scale, today announced solid revenue growth of 19.4% year-on-year for Q1 2022/2023 as it continues to deliver against its strategic objectives, bolstered by investments in international expansion and increased customer engagement. ABOUT YOU reiterated its outlook for FY 2022/2023, even as the challenging macroeconomic environment and rising inflationary pressure continue to impact customer behaviour.

Tarek Müller, Co-Founder and Co-CEO of ABOUT YOU, said: “ABOUT YOU recorded resilient growth throughout the first quarter of this financial year despite the market climate’s current volatility – that’s a huge testament to the strength of our business fundamentals. We are well-positioned to deliver against our strategic initiatives, supported by an expanding customer base. Through continued growth in established and new European markets, improved marketing steering, and operational efficiency, we remain very confident that we will fulfil our promise of Group profitability in FY 2023/2024.”

In the first quarter of FY 2022/2023, ABOUT YOU continued to make progress in its strategic objectives, further improving its customer experience and shop assortment, driving its international expansion, and strongly scaling its B2B business. The Group increased its revenue by 19.4% year-on-year to EUR 504.1 million (Q1 2021/2022: EUR 422.1 million) until 31 May 2022 from the year-earlier period, even as inflation and interest rate hikes impacted customer behaviour. ABOUT YOU took swift measures to moderate the effect of delays and cancellations on supply at the beginning of the quarter, and to minimise the impact of challenging macroeconomic conditions. Following a shock in demand after Russia’s invasion of Ukraine, trading increased again across Europe throughout the quarter, including in Central and Eastern Europe (CEE).

In its online shop, the Group introduced a ‘Hot Drops’ section to create an additional release channel for ABOUT YOU and its partner brands in selected countries. As a showcase for exclusive collections, new product releases, and live-shopping events, it generated increased engagement from ABOUT YOU’s fashion-oriented and digital-savvy customers this quarter. The first international ABOUT YOU Awards in Milan in May 2022 further drove growth in brand awareness across Europe.

Initiatives implemented have led to a substantial growth in active customers from 9.2 million to 11.8 million (27.7% year-on-year), and an increase of the average order frequency to 3.0 (5.4% year-on-year) in the last twelve months, driven primarily by activity in ABOUT YOU’s newer markets. The average order value slightly declined from EUR 58.1 to EUR 56.8 (-2.2% year-on-year) against the backdrop of a normalised returns rate and inflationary pressure. However, as average order frequency increased, the average GMV per customer rose from EUR 162.5 to EUR 167.6 (3.2% year-on-year).

Driven by continued investments, especially in ABOUT YOU’s internationalisation, adjusted EBITDA amounted to EUR -28.8 million (Q1 2021/2022: EUR -12.3 million) in the first quarter, and the adjusted EBITDA margin decreased to -5.7% (Q1 2021/2022: -2.9%). The gross margin improved to 42.6% (Q1 2021/2022: 41.8%), but was affected by increased fulfillment and marketing cost-to-revenue ratios.

The Commerce segments, ABOUT YOU DACH and Rest of Europe (RoE), delivered year-on-year growth through a period of economic volatility, reporting a healthy revenue development in Q1 2022/2023. In DACH, ABOUT YOU generated EUR 239.0 million (Q1 2021/2022: EUR 218.2 million) in revenue, corresponding to 9.6% year-on-year growth, driven by increased event-led demand following the ease of Covid-19-related restrictions. The segment sustained its profitability with an adjusted EBITDA of EUR 9.9 million and an adjusted EBITDA margin of 4.1% in (Q1 2021/2022: EUR 17.3 million and 7.9%).

ABOUT YOU RoE grew its revenue by 23.3% year-on-year to EUR 229.5 million (Q1 2021/2022: EUR 186.1 million), a result of solid growth in BeNe, the Nordics, and Southern Europe yet adversely affected by the customers’ uncertain purchase behaviour in CEE in the first half of Q1 2022/2023. The positive development in the Nordics and Southern Europe was boosted through large-scale marketing activities, such as the Big Bang event in Norway and a media-driven campaign in Italy. Its adjusted EBITDA deteriorated to EUR -46.0 million, which corresponds to an adjusted EBITDA margin of -20.1% (Q1 2021/2022: EUR -33.3 million and -17.9%).

The B2B segment, Tech, Media, and Enabling (TME) performed strongly. The segment recorded a 45.2% year-on-year growth to EUR 50.0 million (Q1 2021/2022: EUR 34.5 million), supported by the acquisition of new corporate clients, sale of B2B products with an increased profitability, and international expansion of SCAYLE, as SCAYLE’s sales team has built an effective lead funnel. Accordingly, the adjusted EBITDA and adjusted EBITDA margin further improved to EUR 7.0 million and 14.0% (Q1 2021/2022: EUR 4.7 million and 13.6%).

On the back of its solid first-quarter results, ABOUT YOU reiterated its full-year guidance and continues to expect a Group revenue of EUR 2,165 to 2,338 million (+25.0 to 35.0% year-on-year growth) in FY 2022/2023. The adjusted EBITDA is assumed to remain at EUR -70 to -50 million5, equivalent to a margin of -3.2 to -2.1%. Until 28 February 2023, ABOUT YOU continues to predict a total CAPEX of EUR 60 to 80 million5 and net working capital to remain neutral.

The Quarterly Statement for Q1 2022/2023 is available on ABOUT YOU’s Investor Relations website. The Half-Year Report 2022/2023 is scheduled for 11 October 2022.

Quartalszahlen 2
Quartalszahlen 2

[1] EBITDA adjusted for (i) equity-settled share-based compensation expenses, (ii) restructuring costs, and (iii) one-time effects
[2] LTM: within the past twelve months
[3] AOF: average order frequency
[4] AOV: average order value
[5] Excluding potential M&A activities

Further information

Media contact

Ann-Christine Klesper | Corporate Communications
+49 (0)40 638 569 212

Sinah Brending | Financial Communications
+49 (0)40 638 569 359

Contact Investor Relations
Frank Böhme | Investor Relations
+49 (0)40 638 569 359


This publication constitutes neither an offer to sell nor a solicitation to buy securities.

Certain statements contained in this release may constitute “forward-looking statements” that involve a number of risks and uncertainties. Forward-looking statements are generally identifiable by the use of the words “may”, “will”, “should”, “plan”, “expect”, “anticipate”, “estimate”, “believe”, “intend”, “project”, “goal” or “target” or the negative of these words or other variations on these words or comparable terminology. Forward-looking statements are based on assumptions, forecasts, estimates, projections, opinions or plans that are inherently subject to significant risks, as well as uncertainties and contingencies that are subject to change. No representation is made or will be made by ABOUT YOU Holding SE that any forward-looking statement will be achieved or will prove to be correct. The actual future business, financial position, results of operations and prospects may differ materially from those projected or forecast in the forwardlooking statements. Neither ABOUT YOU Holding SE nor any of their respective affiliates assume any obligation to update, and do not expect to publicly update, or publicly revise, any forward-looking statements or other information contained in this release, whether as a result of new information, future events or otherwise, except as otherwise required by law.

About You

ABOUT YOU digitises the classic shopping stroll by creating an inspiring and personalised shopping experience on the smartphone. At ABOUT YOU, the focus is on the customers, who are supported in expressing themselves individually through fashion. On the website aboutyou.com and the multi-award winning ABOUT YOU app, customers find versatile inspiration and more than 500,000 items from over 3,500 brands. With more than 45 million unique active users per month, ABOUT YOU is one of the largest fashion and lifestyle platforms in Europe. It is currently active in 26 European markets. With SCAYLE, the fashion tech company also offers its own e-commerce infrastructure as a licensed product. The shares of ABOUT YOU are listed on the Frankfurt Stock Exchange and were admitted to the SDAX® index in September 2021.

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