In the run-up to a much-anticipated IPO, European online retail powerhouse Zalando has recorded an operating profit in the second quarter of 2014, and hit more than 1 billion euros in revenue for the first half of the year, the company said in a statement this morning.
In the first quarter, Zalando’s revenue had already grown to 501 million euros but the company’s wasn’t yet operating profitably for the full group.
In the first half of 2014, group revenues increased to up to 1,06 billion euros, the company said, up from 809 million euros during the same period last year. EBIT margin was nearly break-even (compared to -9% in the first half of 2013).
Mobile played a huge role in Zalando’s revenue growing to up to 560 million euros in Q2 2014: mobile traffic share hit 41% during the quarter, and Zalando counted over 3.8 million app downloads by the end of Q2. More facts and figures on Zalando are available here.
The company says it will report H1 and Q2 earnings in more detail at the end of August 2014, and is expected to go public in October according to Reuters sources.