(Boursier.com) — Spartoo , one of the leaders in the sale of fashion items online in Europe, today announces its half-year results, closed on June 30 and approved by the Board of Directors on September 28. Spartoo shows good resilience in its business volume which stands at 101.6 ME for a turnover that is almost stable at 72.9 ME in H1. Adjusted EBITDA is close to balance, improving by +2.8 ME vs. H1 2022. Improved operational cash flow is 7 ME vs. H1 2022 thanks to optimized management of marketing investments and inventories.
The growth of proprietary brands is +12% vs. H1 2022. The 37% growth in store and corner activities vs. H1 2022 should also be highlighted.
Boris Saragaglia, co-founder and CEO of Spartoo, declared: “In a context of high inflation and a significant slowdown in demand affecting all players in the consumer sector, the mobilization and commitment of Spartoo teams made it possible to improve our operational cash flow during this half-year. The optimization of our marketing investments combined with the reduction in inventory value on our ‘B2C’ Online activities allowed us to limit the decline in the figure while significantly improving our EBITDA and operational cash flow. Our proprietary brands, our stores and our third-party activities also experienced double-digit growth over this half-year, highlighting the economic relevance of our multi-channel model. Our strategy focused on excellence in customer service and balanced development between our proprietary brands and international brands, between online and offline complementarity as well as a significant international presence ensures us tangible resilience in the current context. We are aiming for positive free cash flow for the 2023 financial year despite a back-to-school season which has proven to be complicated.”
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