Zalando reported 2Q17 revenues of €1,100.5 million, up 20.1% year over year, but below the consensus estimate of €1,104.4 million. Adjusted EBIT came in at €81.8 million versus the consensus estimate of €85.4 million, and corresponding to an adjusted EBIT margin of 7.4%.
Revenues in 1H17 increased by 21.5% to €2,080.7 million, below the consensus estimate of €2,090.6 million. The company reported adjusted EBIT of €102.1 million for the first half, ahead of the consensus estimate of €98.7 million, and corresponding to an adjusted EBIT margin of 4.9%.
Zalando remains positive about the outlook for the full year, thanks to continued investment in fulfillment capabilities such as new sites in Poland and Italy.
The company confirmed its FY17 guidance to deliver revenue growth in the 20.0%–25.0% range and for adjusted EBIT margin to fall between 5.0% and 6.0%.
FY17 revenue consensus estimates stand at €4,465.1 million, implying annual year-over-year growth of 22.7%. Consensus expects operating profit of €240.7 million, implying an adjusted FY17 EBIT margin of 5.4%. FY17 EPS is forecast at €0.65.
Zalando will report results for 3Q17 on November 7, 2017.