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Wiggle grows turnover and EBITDA

Wiggle, the online cycle and triathlon retailer, grew its full year turnover by 20.8% as it invested in future growth both in the UK and overseas.

GENERAL MERCHANDISE

Wiggle grows turnover and EBITDA

Wiggle, the online cycle and triathlon retailer, grew its full year turnover by 20.8% as it invested in future growth both in the UK and overseas.

In the 52 weeks to 3 February 2013, turnover increased to £140.8 million from £116.5 million in the previous year while EBITDA edged up 2.1% to £14 million.

Chairman Andy Bond said: “2012 was a good year for Wiggle. We increased our turnover by over 20%, increased cash margin by over 15% and continued to invest in the build-out of our international operations.

“In the UK, our most developed market, revenues grew by over 20%, allowing us to maintain our position as the leading internet cycle and triathlon retailer in the country. This was achieved by investing in our range, improving our website and enhancing distribution, IT and marketing.”

The company grew its international business by just under 20% in 2012 with Europe, Australasia and the Far East remaining key markets for growth.

Bond added: “Our reach is broadening as we localise our offer through localised web domains, translated content, simplified local payment methods and faster delivery times. However, during the year, growth in Japan slowed significantly as the impact of the depreciation of the Yen was felt.”

During the twelve months of the reporting period, Wiggle said it received over 70 million shopper visits to its site, dispatched over 2 million orders and sent out around 150 million email communications to customers.

In 2013, Wiggle became the title sponsor of UCI ladies professional cycling team, Wiggle Honda.

Commenting on current trading, Bond said: “Current trading is strong with the business posting a faster growth rate in the year to date compared to 2012. The company is enjoying continued high growth in the UK where it remains the strongest player in the enthusiast bike, run and triathlon market. It also continues to expand internationally, seeing a positive return from its ongoing investment in infrastructure and customer experience.”

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