Global Fashion Group's 2023 Preliminary Results: NMV Decline Outperforms Guidance, Q4 EBITDA Nears Breakeven

• Global Fashion Group reports preliminary results for full year 2023 with a 14% year-on-year decrease in Net Merchandise Value (NMV) to approximately €1.3 billion.
• This decline is better than the company's guidance of a 16-18% decrease, primarily due to better than expected performance in Q4 peak trading events.
• NMV decreased 14% for the Group in Q4, with decreases of 12% in LATAM, 18% in SEA, and 13% in ANZ.
• Adjusted EBITDA for Q4 2023 is expected to be around breakeven, while the Adjusted EBITDA margin for full year 2023 is expected to be in the upper end of the company's guidance range of (9)-(7)%.
• GFG expects to end the year with €397 million in pro forma cash and €206 million in net pro forma cash, supported by a strong, positive Normalised Free Cash Flow in Q4.
• The final numbers for Q4 and full year 2023 may deviate from the preliminary figures, and GFG will publish its Q4 and full year results on 6 March 2024.

The next important date, Quarterly report, at Global Fashion Group is on 06.03.2024.

The price of Global Fashion Group at the time of the news was 0,1834EUR and was up +0,58 % compared with the previous day.
13 minutes after the article was published, the price was 0,2488EUR this corresponds to a plus of +35,66 % since publication.

Global Fashion Group

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ISIN:LU2010095458WKN:A2PLUG

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