Zooplus grows more than expected
German online pet store raises guidance for the second time – to a 2020 sales volume of €1.8 billion
Zooplus has navigated the corona crisis more than well so far. Based on the preliminary figures for the current quarter, the company has raised their 2020 financial guidance for the second time in a row, this is what an announcement published by the management board in mid-July suggests. Accordingly, the currently projected figures clearly exceed what was expected earlier this year: Zooplus AG now anticipates earnings before interest, taxes, depreciation and amortization (EBITDA) of €40 million or more for FY 2020, up from €20 million in the previous guidance published in May. FY 2019’s EBITDA was €12 million. When taking into account the recently published H1 2020 figures, this means a year-on-year growth of 19% in sales for the first half of 2020. Regarding overall sales growth in FY 2020 in absolute figures, Zooplus raised their expectations from May 2020 by another €15 million – currently expecting a plus of around €240 million in sales compared to the previous year (FY 2019: €182 million). This would result in a total sales volume of around € 1.765 billion in 2020.
The fact that Zooplus has revised their business expectations upward for the second consecutive time is based on a very positive business performance in spite of – or even thanks to – the global coronavirus pandemic. Online shopping business models – especially of essentials – have attracted more customers than ever in times of physical store lockdowns and contact restrictions. According to Zooplus CEO Dr. Cornelius Patt, the company was also able to increase operative profitability, cut costs in marketing and raise logistics efficiency. He is confident that the current positive developments will be of a long-term nature.
Zooplus is currently among the leading European online retailer of pet food and supplies, based in Munich, Germany. In 2019, the listed company generated sales of more than €1.5 billion, shipping to around 30 countries in Europe.
Visit our news area for additional content around the topic of eCommerce.