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Financial data

Financial Data (€m) 2010 2011 2012 2013 2014
Consolidated net revenues 214.3 291.2 375.9 455.6 524.3
% Change 40.8% 35.9% 29.1% 21.2% 15.1%
Gross profit1 84.4 108.2 137.4 170.8 187.5
% of consolidated net revenues
39.4% 37.1% 36.6% 37.5% 35.8%
Ebitda pre corporate costs2 38.2 47.0 62.6 82.4 88.7
% of consolidated net revenues
17.8% 16.2% 16.7% 18.1% 16.9%
EBITDA excluding incentive plan costs4 22.5 28.2 36.7 46.8 50.1
% of consolidated net revenues
10.5% 9.7% 9.8% 10.3% 9.5%
EBITDA3 18.8 24.1 32.1 43.1 48.8
% of consolidated net revenues
8.8% 8.3% 8.5% 9.5% 9.3%
Operating profit 15.0 16.4 18.9 23.9 23.3
% of consolidated net revenues
7.0% 5.6% 5.0% 5.2% 4.4%
Net income 9.1 10.0 10.2 12.6 13.8
% of consolidated net revenues
4.3% 3.4% 2.7% 2.8% 2.6%
Net income excluding incentive plan costs5 12.0 13.2 13.7 15.4 14.7
 % of consolidated net revenues 5.6% 4.5% 3.6% 3.4% 2.8%

 

Data on financial performance (€m) 2010 2011 2012 2013 2014
Net working capital 24.8 33.0 32.1 28.3 45.3
Net invested capital 45.9 69.6 87.2 99.2 127.3
Net debt/(Net financial position) (22.8) (12.9) (14.6) (20.5) (31.0)
Shareholders’ equity 68.7 82.6 101.8 119.7 158.3

 

Key Performance Indicators 2010 2011 2012 2013 2014
Number of monthly unique visitors (millions) 8.6 10.4 13.0 13.2 15.2
Number of orders (millions) 1.5 2.1 2.3 2.8 3.4
AOV (Euro) 179 180 206 215 202
Number of Active Customers (‘000) 612 808 947 1,081 1,252

Note

1 – Gross profit is earnings before fulfillment costs, sales and marketing costs, general and administrative expenses, other operating income and expenses, depreciation and amortisation, non-recurring expenses, income/loss from investment in associates, financial income and expenses and income taxes. Since gross profit is not recognised as an accounting measure under Italian GAAP or the IFRS endorsed by the European Union, its calculation might not be standard, and the measurement criterion adopted by the Group might not be consistent with that adopted by other groups. Accordingly, the resulting figures may not be comparable.

2 – EBITDA Pre Corporate Costs (or Operating Profit by business line) is defined as earnings before general and administrative expenses, other income and expenses, depreciation and amortisation, non-recurring expenses, income/loss from investment in associates, financial income and expenses and income taxes. Since EBITDA Pre Corporate Costs is not recognised as an accounting measure under Italian GAAP or the IFRS endorsed by the European Union, its calculation might not be standard, and the measurement criterion adopted by the Group might not be consistent with that used by other groups. Accordingly, the resulting figures may not be comparable. EBITDA Pre Corporate Costs corresponds to the operating profit by business line reported in the Group’s consolidated financial statements.

3 – EBITDA Excluding Incentive Plan Costs is defined as EBITDA before the costs associated with Stock Option Plans and Company Incentive Plans, as described in the Group’s consolidated financial statements.

4 – EBITDA is earnings before depreciation and amortisation, non-recurring expenses, income/loss from investment in associates, financial income and expenses and income taxes. Since EBITDA is not recognised as an accounting measure under Italian GAAP or the IFRS endorsed by the European Union, its calculation might not be standard. Group management uses EBITDA to monitor and measure the Group’s performance. The management believes that EBITDA is an important indicator of operating performance in that it is not affected by the various criteria used to calculate taxes, the amount and characteristics of invested capital and the related amortisation and depreciation methods. The criterion used by the Group to calculate EBITDA might not be consistent with that adopted by other groups. Accordingly, the resulting figures may not be comparable between groups.

5 – Net income Excluding Incentive Plans Costs is defined as the consolidated Net income of the period before the non-cash costs associated with Stock Option Plans and Company Incentive Plans and their related tax effects.