Description

Zalando SE: Initiation of Coverage- Can Tech Innovation Cement Zalando’s Retail Supremacy?

Zalando SE showcased a notable performance in Q1 2025, marked by a strategy-driven focus on ecosystem growth across its B2C and B2B operations. The company reported an accelerated gross merchandise volume (GMV) growth of 6.5% year-on-year, leading to a revenue increase of 7.9% to EUR 2.4 billion. This growth was notably supported by strong end-of-season sales and a promising spring/summer season start. A key highlight was the adjusted EBIT which increased to EUR 47 million, representing a 1.9% margin, up 0.7 percentage points from the previous year due to improved gross margins, especially in the B2C segment.

Our Report Structure:

⦁ Company Overview
⦁ Investment Thesis
⦁ Key Drivers
⦁ Historical Quarterly Statement Analysis – Income Statement & Cash Flows
⦁ Historical Quarterly Balance Sheet Analysis
⦁ Historical Annual Financial Statement Analysis
⦁ Analysis Of Key Financial Ratios
⦁ Financial Forecasts For 3 Years
⦁ Forecasting The Capital Structure & Net Debt
⦁ Discounted Cash Flow Valuation
⦁ Trading Multiples
⦁ Key Risks
⦁ Disclosures

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