\n
<\/sup>Challenging market situation impacting FY22 profitability
\n
Strategic realignment assessment and cost reduction measures underway<\/b><\/p>\n
- \n
- FY22 includes three quarters of full contribution of businesses acquired in-period (WiggleCRC and Tennis Express)<\/b><\/li>\n
- Active customers of 6.7 million, representing an increase of +39% YoY<\/b><\/li>\n
- Net revenue up +28% to \u20ac300 million in Q4 FY22 and +31% to \u20ac1,063 million in FY22 YoY; pro forma2<\/sup> FY22 revenue of \u20ac1,199 million<\/b><\/li>\n
- Gross profit increased YoY by +8% to \u20ac95 million in Q4 FY22 and +18% to \u20ac369 million in FY22<\/b><\/li>\n
- Adj. EBITDA at (\u20ac29) million in Q4 FY22 and (\u20ac66) million in FY22<\/b><\/li>\n
- Net loss at (\u20ac566) million for FY22, largely impacted by non-cash goodwill impairment and one-off accounting charges related to the public listing on NYSE<\/b><\/li>\n
- Increased financial flexibility as SSU obtains covenant waivers on its \u20ac100 million bank RCF and secures \u20ac130 million commitment from major indirect shareholder<\/b><\/li>\n<\/ul>\n
BERLIN–(BUSINESS WIRE<\/a>)–
\nSIGNA Sports United N.V. (\u201cSSU\u201d or the \u201cCompany\u201d), a NYSE-listed specialist sports e-commerce company with businesses in bike, tennis, outdoor, and team sports, today reported financial results for the fourth quarter of fiscal year 2022 and full fiscal year 2022 ended September 30, 2022. Q4 FY22 includes full contribution of businesses acquired in-period, WiggleCRC and Tennis Express (acquisitions closed on December 14 and December 31, 2021, respectively).\n<\/p>\n\nThe past year has seen an unexpected downturn in consumer sentiment, inflationary pressures and the operating environment as a whole, impacting SSU\u2019s main markets over the course of FY22. Nevertheless, SSU achieved several significant milestones in fiscal year 2022: the Company listed on the NYSE and considerably augmented the scale of its two main categories, bike and tennis. As such, the acquisitions which closed in Q1 FY22 enabled SSU to deliver double-digit net sales YoY growth and to more than double its net revenue vs. pre-Covid (+123% vs. FY19) on a reported basis. Similarly, the Company\u2019s reach expanded meaningfully as its customer base increased by +39% YoY and +146% vs. pre-Covid (FY19) on a reported basis.\n<\/p>\n
\n\nOn the profitability side, the combination of supply chain challenges and the deterioration in consumer confidence coinciding with the conflict in Ukraine, has resulted in a competitive, overstocked market significantly impacting margins, particularly in the bike business and in international territories. The Company is as such renewing its focus on profitability by leveraging on its core geographies and assessing selective strategic opportunities to deliver sustainable long-term value to shareholders.\n<\/p>\n
\nStephan Zoll, CEO of SSU, said, “Fiscal 2022 was a year of two halves, meaningfully increasing our scale through acquisitions before being affected by the macroeconomic turbulence. We successfully achieved several operational wins, expanding our Own brand range, increasing our tennis customer reach and advancing our plan to enter the US bike market. The unexpected consumer sentiment deterioration and inflationary pressures due to the conflict in Ukraine, affected our operations and margins significantly, particularly in the bike business and in international geographies. We are thus now shifting our commercial approach to focus on our core markets, where we enjoy leading positions. We are confident the strategic realignment currently underway will enable us to emerge as a more agile and resilient scaled leader, and take advantage of the many consolidation opportunities arising from these turbulent times.\u201d\n<\/p>\n
Q4 FY22 and FY22 Consolidated Financial Summary and Key Operating Metrics (Continuing Operations)<\/i><\/b><\/p>\n
- Active customers of 6.7 million, representing an increase of +39% YoY<\/b><\/li>\n
![\"Logo\"](\"https:\/\/mms.businesswire.com\/media\/20230207005239\/en\/1706233\/3\/SSU_logo.jpg\"){kind=logo}
<\/td>\n<\/tr>\n