Global Fashion Group: Revised Q4 & FY 2023 Results Release from 06/03/2024

• Global Fashion Group S.A. reports Q4 and FY 2023 results, demonstrating resilience amidst market challenges with breakeven Adjusted EBITDA and a Gross Margin improvement in Q4.
• Q4 2023 highlights include a Net Merchandise Value decrease of 14.0%, a Revenue decrease of 16.8%, and a Gross Margin of 43.6%.
• The company achieved a Net Merchandise Value of €369 million in Q4 2023, a 14.0% decrease due to subdued consumer demand.
• Despite market challenges, the company achieved an Adjusted EBITDA margin of 0.2%, improving 2.1ppt year-on-year.
• The company closed 2023 with a strong cash position of €396.5m Pro-Forma Cash and €206.3m Pro-Forma Net Cash.
• For 2024, the company expects a 5-15% decrease in NMV on a constant currency basis, implying €1.1-1.2 billion in NMV. Adjusted EBITDA is expected to be €(25)-(45) million.

The next important date, Quarterly report, at Global Fashion Group is on 13.03.2024.

The price of Global Fashion Group at the time of the news was 0,2996EUR and was up +2,25 % compared with the previous day.

Global Fashion Group

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ISIN:LU2010095458WKN:A2PLUG

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