fashionette AG adjusts guidance for the financial year 2021 due to temporary logistical challenges caused by the migration to the new logistics partner
NOT FOR PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES OF AMERICA, AUSTRALIA, CANADA OR JAPAN OR IN OR INTO ANY OTHER JURISDICTION WHERE SUCH PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL.fashionette AG adjusts guidance for the financial year 2021 due to temporary logistical challenges caused by the migration to the new logistics partner Dusseldorf, 26 August 2021. The Management Board of fashionette AG (ISIN DE000A2QEFA1 / GSIN A2QEFA) has decided today to adjust the guidance for the financial year 2021. The decisive factor is unforeseen technical and process-related challenges in the context of the migration to the new logistics partner, which the Management Board estimates will have a significant impact on the performance in the third quarter of the current financial year. Including the acquisition of Brandfield, fashionette AG now expects the Group's net revenue to grow by approximately +40% to +51% to approximately EUR 133 million to EUR 143 million (previously: EUR 141 million to EUR 150 million) in the financial year 2021. Adjusted EBITDA* of the Group is expected to reach approximately EUR 3.3 million to EUR 4.3 million (previously: EUR 5.0 million to EUR 6.9 million). The adjusted guidance is based on the assumption that the order volume, which is impacted by the current logistical challenges, will return to the level prior to the migration by the end of September 2021 at the latest.
* fashionette AG defines adjusted EBITDA as EBITDA (defined as net revenue plus other operating income less cost of materials, personnel expenses and other operating expenses) adjusted for extraordinary costs, for example, costs related to the acquisition of Brandfield and share-based compensation expenses.IMPORTANT NOTICE
Certain statements in this disclosure may constitute forward looking statements. These statements are based on assumptions that are believed to be reasonable at the time they are made, and are subject to significant risks and uncertainties, including, but not limited to, those risks and uncertainties described in fashionette's disclosures. You should not rely on these forward-looking statements as predictions of future events and fashionette undertakes no obligation to update or revise these statements. The actual results may differ materially and adversely from any forward-looking statements discussed in this disclosure due to several factors.fashionette AG
26-Aug-2021 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.dgap.deLanguage: English Company: fashionette AG Lierenfelder Stra?e 45 40231 D?sseldorf
Germany E-mail: firstname.lastname@example.org Internet: corporate.fashionette.com ISIN: DE000A2QEFA1 WKN: A2QEFA Listed: Regulated Unofficial Market in Berlin, Dusseldorf, Frankfurt (Scale), Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange EQS News ID: 1229271 ? End of Announcement DGAP News Service