Investment AB Kinnevik today announced that Zalando has reported the following development in the first quarter:
- Group net revenues increased by 35% to EUR 501 million compared to the first quarter 2013 (EUR 372m).
- Group EBIT margin improved significantly year-on-year.
- Improvement mainly driven by higher fulfilment productivity increased marketing efficiency and good start into spring/summer season.
Rubin Ritter, Member of the Zalando Management Board, commented: "The start to the year has been promising, with a significant improvement in Q1 margin year-on-year, so we are on track with our plans for 2014. The improvement in the first quarter underlines our plan to take a significant step towards, but not quite reaching, EBIT breakeven at group level for the full year 2014."
Please refer to attached press release from Zalando for further information.
Kinnevik discloses the information provided herein pursuant to the Securities Market Act (Sw. lagen om värdepappersmarknaden (2007:528)). The information was submitted for publication on 9 May, 2014 at 8.00am (CET).
For further information, visit www.kinnevik.se or contact:
|Torun Litzén, Director, Investor Relations||Phone +46 (0)8 562 000 83|
|Mobile +46 (0)70 762 00 83|
Investment AB Kinnevik is a leading, long-term oriented, investment company based in Sweden. Kinnevik primarily invests in consumer centric businesses that provide innovative and value-added technology-enabled services. Our main areas of focus are the Communications, e-Commerce, Entertainment and Financial Services sectors. We own significant stakes in over 50 companies that operate in more than 80 countries across five continents, with a particular emphasis on growth markets. The Kinnevik Group employs more than 90 000 people around the world.
Kinnevik actively supports the companies in which it invests and plays an influential role on their respective Boards. Kinnevik was founded in 1936 by three Swedish families who continue to play a leadership role in the ownership of the Company and in the pursuit of its entrepreneurial ventures.
Kinnevik's shares are listed on Nasdaq OMX Stockholm's list for large cap companies under the ticker codes KINV A and KINV B.