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Showroomprive.com
Showroomprive.com: Q1 2019 BUSINESS REVIEW
09-May-2019 / 17:52 CET/CEST
Dissemination of a French Regulatory News, transmitted by EQS Group.
The issuer is solely responsible for the content of this announcement.
Q1 2019 BUSINESS REVIEW
Net REVENUES: EUR147m
Focus on the "Performance 2018-2020" plan
La Plaine Saint Denis, 9 May 2019 - Showroomprivé, a leading European online
retailer specialising in fashion for the Digital Woman, has published its
net revenues for the first quarter of 2019, ended 31 March.
· Showroomprivé posted net revenues of EUR147 million,
slightly down by 2.3%.
· Internet revenues stable (-0.6%) after excluding the impact
of closing B2C businesses in Germany, Poland and the
multi-currency website, driven by continued growth in France.
· Good resilience of business indicators, in a context of
optimisation of marketing expenditures during the period.
· Performance driven by repeat buyers[1], whose contribution
is up by 3 points (to 90%), compared to the first quarter of
2018, validating the Group's marketing strategy
· Showroomprivé continues to implement measures under the
"Performance 2018-2020" plan aimed at improving operational
efficiency in the short term and developing new growth and
profitability opportunities in the medium term.
· Strict control of operating expenditures and streamlining of
support services.
· Limitation of firm purchases, whose sales represent 19% of
revenues, down 8 points compared to the first quarter of 2018.
· Expansion of commercial workforce to enrich the offer with
new brands.
· Refocusing of international Internet business on key
markets, closing of B2C businesses in Germany, Poland and the
multi-currency website.
Q1 2019 HIGHLIGHTS
Q1 2018 Q1 2019 Change (%)
Net revenues (EURm)* 150.8 147.3 -2.3%
Total Internet revenues (EURm)* 145.7 144.0 -1.2%
Number of buyers (millions)** 1.5 1.4 -2.3%
Revenues per buyer (EUR)** 93.8 92.9 -0.9%
Number of orders (millions) 3.4 3.3 -3.1%
Average number of orders per 2.3 2.3 -0.8%
buyer**
Average basket (EUR)** 40.6 40.5 -0.1%
31/12/2018 31/03/2019 Change
Cumulative buyers*** 9.0 9.2 +0.2
(millions)**
* IFRS
** Excluding Beauteprivee
*** "Cumulative buyers" are all buyers who made at least one
purchase on the Group's platform since it was launched
Group net revenues fell slightly, by 2.3%, to EUR147.3 million in the first
quarter of 2019 and -1.7% adjusted for the closing of business in certain
countries announced in 2018 (Germany, Poland and the multi-currency
website).
Total Internet revenues, which represent the Group's core business (up to
98% of revenues) posted a moderate decline of 1.2% and was almost stable
(down 0.6%) adjusted for the closing of previously named countries.
Business levels grew in France despite a slowdown in household consumption
in February (source: INSEE), which offset the slight decline in
international business due to economic conditions (Belgium, Spain, Italy and
Portugal).
Performance in France is driven by repeat buyers, who account for 90% of
sales, an increase of 3 points compared to the first quarter of 2018. This
evolution reflects the strategy of optimising marketing expenses, as
announced in the "Performance 2018-2020" plan, primarily oriented towards
the installed base of members and buyers. The attractiveness of the brand
continues to attract new customers, nearly 200,000 over the period, which
now brings the total number of buyers to 9.2 million.
During the period, management also continued to implement measures under the
"Performance 2018-2020" plan. In order to improve operational efficiency in
the short term via tight control of operating expenses, in addition to
optimisation of marketing expenses over the period, the company continued to
streamline support functions and bring the firm purchases policy under
control. The contribution of these firm purchases decreased by 8 points
compared to the first quarter of 2018, to 19% of sales in the first quarter
of 2019, resulting in a slower revenue growth.
The Group is also expanding its commercial workforce to support this
development plan, with the aim of attracting new brand partners while
strengthening existing relationships. Showroomprivé provides brands with
strong selling power through a targeted audience of nearly 10 million buyers
in France and the rest of Europe, backed by the development of data
expertise through SRP Média.
Showroomprivé co-founders and co-CEOs Thierry Petit and David Dayan
commented on these results: "We continued to implement our ambitious
'Performance 2018-2020' plan during the quarter. Withdrawal from certain
countries (Germany, Poland) naturally impacted growth, especially given the
persistently sluggish economy and a difficult February for consumption in
particular. In this context, we remain more focused than ever on
implementing our growth and profitability drivers, our main objective over
the plan horizon."
Next releases
Shareholders' General Meeting, 27 June 2019
First half 2019 results, end July 2019
ABOUT showroomprive.com
Showroomprivé.com is a European player in event-driven online sales that is
innovative and specialized in fashion. Showroomprivé proposes a daily
selection of more than 2,000 partner brands over its mobile applications or
its Internet site in France and in eight other countries. Since its creation
in 2006, the company has undergone quick and profitable growth.
Listed on the Euronext Paris market (code: SRP), Showroomprivé achieved a
gross business volume with all taxes included of more than 900 million euros
in 2018, and net revenue of 672 million euros, growing by 3% over the
preceding year. The Group employs more than 1,150 people.
For more information: https://www.showroomprivegroup.com [1]
Contacts
ACTUS finance & communication
Grégoire Saint-Marc, Relations
Investisseurs
showroomprive@actus.fr
+33 1 53 67 36 94
Alexandra Prisa, Relations Presse
aprisa@actus.fr
+33 1 53 67 36 90
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[1] buyers who had already made a purchase on the Group's platform in the
past
Regulatory filing PDF file
Document title: 2019.05.09 - Net revenues Q1 2019_VDEF-EN
Document: http://n.eqs.com/c/fncls.ssp?u=XFKPEHEFHB [2]
Language: English
Company: Showroomprive.com
1, rue des Blés - ZAC Montjoie
93210 La Plaine Saint-Denis
France
Internet: showroomprive.com
ISIN: FR0013006558
AMF Category: Additional regulated information to be pubicly disclosed under
the legislation of a Member State / First quarter financial
report
EQS News ID: 809399
End of Announcement EQS News Service
809399 09-May-2019 CET/CEST
1: https://link.cockpit.eqs.com/cgi-bin/fncls.ssp?fn=redirect&url=f1bb48786b28191514a3fee9ab194158&application_id=809399&site_id=vwd&application_name=news
2: https://link.cockpit.eqs.com/cgi-bin/fncls.ssp?fn=redirect&url=6172df7182650dc6704cff6ce969fe92&application_id=809399&site_id=vwd&application_name=news
(END) Dow Jones Newswires
May 09, 2019 11:52 ET (15:52 GMT)
