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zooplus expands strongly during Q1 2010
- Total sales up 40% to EUR 39.8 mm
- EBIT at EUR 0.3 mm (previous year: EUR 0.4 mm)
- Net profit despite extra costs of newly opened EU logistics hub
- Confirmation of positive outlook for FY 2010
zooplus AG (WKN 511170, ISIN DE0005111702, ZO1), Europe's leading internet retailer for pet supplies, has shown a strong overall increase in total sales (sales and other operating income) during the first three months of the year. At the same time, the company managed to achieve a positive net result despite opening up its new international logistics hub (Tilburg / The Netherlands) with a resulting hike in its fixed cost base during the quarter.
Total sales of EUR 39.8 mm were up 40% yoy from EUR 28.5 mm during 3M 2009. Total sales during the first three months of the year consisted of EUR 37.4 mm of retail sales and another EUR 2.4 mm in other operating income.
The company's EBIT of EUR 0.3 mm was mostly unchanged from EUR 0.4 mm during 3M 2009 despite incurring additional fixed costs in relation with the opening of its new international logistics hub. The latter will help to expand and effectively double the company's total capacity to EUR 300 mm in annual sales. Net profit was down only slightly from EUR 0.2 mm to EUR 0.1 mm, resulting in profits per share of EUR 0.05 (versus EUR 0.08 during 3M 2009).
Benefitting from a much higher visibility into 2010 zooplus reiterates its 2010 forecast: Independent of the current economic climate the company expects to increase total sales by 35%-40% to a range of EUR 175 mm and EUR 180 mm (up from EUR 130 mm during 2009) on the back of positive earnings within a low to medium single digit EUR mm range.
In the words of Dr. Cornelius Patt, CEO and Co-Founder of the company: "During the first three months of the year we have successfully focused on our aggressive growth strategy. With our new international logistics hub we are right on track for further expansion of our European footprint. We expect this dynamic to continue well into the next few quarters."
zooplus will publish its full financial report for the first three months of 2010 on May 31st, 2010. It will be available for download at http://investors.zooplus.com/en/welcome
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