- Yoox Net a Porter reports EBITDA rise of 26% to €133.1m (£103.17m)
- Revenue hits €1.7bn (£1.32bn), up 31%
- Merger of former rivals went live in October 2015
Fashion etailer Yoox Net-a-Porter has increased profits and revenues 31%, following the merger between the two luxury ecommerce rivals.
Adjusted EBITDA soared 26% to €133.1m (£103.17m). Non-adjusted EBITDA was €126.4m (£97.9m).
Net revenues reached €1.7bn (£1.32bn), up 31% on a constant currency basis, for the year ending December 31, 2015.
The group was formed on October 5, 2015 and is comprised of former luxury fashion rivals Yoox and Net-a-Porter.
The etailer added that “strong growth” was recorded by all business lines, with multi-brand in-season revenues up 37% and multi-brand off-season revenues increasing 26%. Mono-brand net revenues at “gross merchandise value” rose 27.%.
The positive net financial position at the year-end was €62m (£48.1m), compared to €60.4m (£46.82m) for 2014.
Adjusted net income was up 38% to €59.7m (£46.27m).
Yoox Net-a-Porter group chief executive Federico Marchetti said: “Together as a new group we achieved revenue growth in excess of 30% and adjusted net income up almost 40% notwithstanding 2015 was a transformational year.”