Takko Fashion reports strong net revenues and positive business development for Q2 2022

• Net revenues of EUR 344 million represent growth of 12% compared to pre-pandemic levels
• Adjusted EBITDA at EUR 59.1 million, 3% up pre-pandemic levels
• Solid cash on balance sheet position at EUR 132.2 million

Takko Fashion, one of the leading European fashion discounters, today announced its key financial figures for the second quarter of the Financial Year 2022/2023. Despite an ongoing challenging macroeconomic environment, Takko Fashion posted an overall positive business performance with solid revenue growth translating into 3% adjusted EBITDA growth vs. pre pandemic levels. Sales and gross profit growth was driven by rising customer frequency combined with a higher conversion rate due to a positive customer reaction to Takko Fashion’s spring/summer ranges.

During the second quarter, Takko Fashion generated net revenues of EUR 344 million, a 12% revenue growth compared to pre-pandemic levels (Q2 2019/2020: EUR 308.1 million). With an adjusted EBITDA of EUR 59.1 million (Q2 2019/2020: EUR 57.6 million) and a corresponding adjusted EBITDA margin of 17% (Q2 2019/2020: 19 %) profitability remains high. LTMQ2 adjusted EBITDA came in at EUR 129 million.

Tjeerd Jegen, CEO of Takko Fashion, comments: “Takko Fashion has seen a positive business development in the second quarter, is well prepared for the upcoming autumn and winter season and in a good position to meet our customers’ demand in the months ahead. Against the backdrop of inflation and the challenging market environment, we are confident that we can address the growing demand for fashionable and affordable clothing across all demographics with our quality fashion at discount prices.”

Kurt Rosen, CFO of Takko Fashion, adds: “While the first quarter was impacted by the war in Ukraine and certain macroeconomic factors, resulting in a more hesitant consumer spending, our business recovered noticeably throughout the second quarter. Despite the continued challenging market environment, we managed to grow our revenues and improved our adjusted EBITDA compared to pre-pandemic levels. Furthermore, this development demonstrates the resilience of our business model across our European markets.”

Takko Fashion continues to show solid liquidity with a cash on balance sheet position of EUR 132.2 million, compared to EUR 43.4 million at the same pre-pandemic period (Q2 2019/2020).