Profil:
Answear.com SAAnswear e-commerce increases Q4 IFRS revenue by 22.1 pct y/y to PLN 525.6 mln
Listed e-commerce company Answear has provisionally estimated that sales revenue, according to International Financial Reporting Standards (IFRS) reporting, increased by 22.1 percent year on year to PLN 525.6 million (EUR 123.6 mln) in the fourth quarter of 2024, the company said in a market filing.
The company's online sales amounted to PLN 546.3 million (EUR 128.5 mln) in the period, a year-on-year increase of 23.6 percent.
For the full year 2024, online sales amounted to PLN 1,520.4 million (EUR 357.6 mln), up 19.8 percent year on year, compared to 2023, which recorded online sales of PLN 1,269.1 million (EUR 298.5 mln).
Sales revenue, as reported under IFRS, was PLN 1,501.5 million (EUR 353.2 mln) in the period, up 19.2 percent year on year.
"Significant investments in both the development of the acquired PRM brand, the repositioning of Answear.com and the opening of concept stores in the Norblin Factory have translated into the observed favourable growth trend in sales, and the main costs of these changes were incurred in previous quarters," the filing said.
"Despite the continuation in the fourth quarter of the wide-ranging image campaign, raising the level of marketing expenditures, the effects of the adopted strategy and the growing scale of the business allow us to expect a gradual improvement in the company's profitability, both in the fourth quarter of this year itself and in the perspective of the subsequent reporting periods," it added.
doa/ nl/
