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(ENGELS) Zalando's best ever q1 result

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• Revenues of EUR 635-648 million, growth of 27-29 per cent

• Expects adjusted EBIT of EUR 25-39 million (adjusted EBIT margin of 4-6 per cent)

• Results boosted by strong start into spring/summer season

Berlin, 15 April 2015 – Zalando SE, Europe’s leading platform for fashion online, grew group revenues in the first quarter of 2015 to EUR 635-648 million (Q1 2014: EUR 501 million) or by 27-29 per cent, according to preliminary figures. Zalando expects to achieve an adjusted EBIT of EUR 25-39 million, corresponding to an adjusted EBIT margin of 4-6 per cent in the first quarter of 2015 (Q1 2014: EUR -23 million or -4.5 per cent).

Both group revenues and adjusted EBIT have developed above expectations, mainly due to a very strong start into the spring/summer season. With this growth rate Zalando is significantly exceeding its target corridor of 20-25 per cent growth. The increase in adjusted EBIT compared to the first quarter of 2014 is mainly driven by an improved gross margin.

Rubin Ritter, Member of the Management Board, said: “We achieved our best ever first quarter performance, a testimony to the great team effort resulting in a strong growth momentum for the company. Especially the performance in March was very encouraging.”

All figures reported herein are preliminary and unaudited. Zalando will publish full financial figures for the first quarter of 2015 on 12 May 2015. In addition, Zalando will introduce trading updates ahead of regularly scheduled quarterly earnings releases for the second and third quarter in 2015. The dates for such trading updates will be published in advance of the earnings releases.

Table 1: Zalando Group – Revenues and adjusted EBIT (EUR million, preliminary)
Q1/2015 Q1/2014 FY 2014
Group revenues 635 - 648 501 2,214
Adjusted group EBIT¹ 25-39 -23 82

¹ Adjusted to exclude equity-settled stock based compensation costs.