Yoox Net-A-Porter grows full year EBITDA
Yoox Net-A-Porter has reported that its full year adjusted EBITDA rose to €169.2 million last year from €155.7 million in 2016.
Full-year net revenue increased by 16.9% to €2.1 billion after the company achieved growth across all three of its main business lines.
Net income was €17.3 million compared to €33.9 million in the previous year, mainly due to an increase in net financial expenses following exchange rate losses.
During the period Yoox Net-A-Porter strengthened its mobile offering with a strong focus on native apps, a tool for conversion, and customer engagement and retention. In 2017 sales from mobile exceeded 50% of the group’s sales for the first time.
Yoox Net-A-Porter chief executive Federico Marchetti said: “The YNAP team’s hard work in 2017 built a business that is bigger and stronger than ever before. Our significant investments in technology and logistics ensure that the group will continue to thrive and remain the world’s leading online luxury destination.”
The group said its new Middle East joint venture is progressing well after making a strong start to trading.
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