The boom of Yoox it started at the beginning of the year and the half-year results confirm the trend. The revenues of the leading online store in the fashion world grew by 35,9% to 131,2 million euros. On the other hand, profits decreased to 2,9 million euros, a -12,7% compared to the first months of 2010.
The net result was affected by the higher amortization and depreciation relating to investments in innovation and technological consolidation, as well as the opening of the new office in Milan, the expansion of the Bologna office and the start of activities in China. In addition, higher financial charges due to the unfavorable exchange rate weighed on the profit. Ebitda improves by 15,4% to 7,9 million.
The Bologna-based group is confident and makes positive forecasts for the next six months. “Based on the positive trend of the online retail and luxury goods market”, reads the press release, “and on the basis of the results achieved during the first half of the year, it is reasonable to assume that also in the last six months of 2011 the group can reconfirm growth in net sales and profitability”.
The expected increase in profitability is also due to the conclusion of the automation projects of the global techno-logistics platform by mid-August, ahead of schedule. With the new platform, they say from Bologna, the group's future growth and operational efficiency will improve.
