YOOX Net-a-Porter (MI: YNAP) FY15 Results: Strong Revenues Driven by Merger

Executive Summary

• YOOX Net-a-Porter reported reclassified pro forma FY15 revenues of €1,665 million, up 30.9% year over year and narrowly beating the consensus estimate of €1,662 million.
• EBITDA rose by 47.5%, from €85.7 million in FY14 to €126.4 million in FY15.
• The company averaged 27.1 million monthly unique visitors, a 14.7% increase over FY14. Orders totaled a record 7.1 million, up 21.9% compared to the previous year. The average order value excluding VAT was €352, up 10.9% compared to FY14.