The Otto Group is looking back on one of the most challenging financial years in its history. Hallmarks of the 2022/23 financial year included a volatile macroeconomic environment, severe constraints on the consumer climate as well as reluctance to purchase, especially in the principal sales market of Germany.
The Otto Group’s diversification in different sales and procurement markets as well as in its business models proved to be a great strength, so that worldwide revenues in the 2022/23 financial year remained at the previous year’s strong level of around EUR 16.2 billion. E-commerce revenues experienced a slight decline, although they remained with around EUR 12.0 billion close to the previous year’s excellent level.
Overall, a rise in procurement prices and increased factor costs placed a heavy burden on the operating results. Despite the challenging trend in regard to revenue and earnings in the 2022/23 financial year, the Otto Group continued its very considerable investments in logistics and IT infrastructure and remained true to the ongoing digitization of its business models.
|thereof e-commerce revenue||EUR billion||12.0||12.1|
|Loss/profit for the year||EUR million||-413||1,814|
|Group equity||in EUR mill.||5,168||5,495|
|Net financial debt||in EUR mill.||2,813||714|
|Free cash flow||in EUR mill.||-1,219||867|
|Cash EBITDA||in EUR mill.||1,177||1,765|
|Group equity ratio||in %||36.8||40.1|
|Debt service ratio||ratio||2.4||0.4|
|Debt to equity ratio||ratio||0.5||0.1|
|Reduction of adjusted CO₂e emissions (compared to the base year of 2018)||in %||-21||-18|
|Proportion of “preferred fibers”||in %||55||53|
|Proportion of FSC®-certified furniture products||in %||83||78|
|Proportion of sustainable catalogue paper||in %||90||77|
|Proportion of sustainable packaging||in %||78||71|
* For a definition of these financial indicators, please refer to the “Credit metrics” chapter of the Group Management Report.
** The CR strategy covers all Group companies that make a sizeable contribution to the Otto Group’s external revenues in two consecutive financial years. For a detailed description of the CR strategy, please refer to the “Sustainability” chapter.