DGAP-News: zooplus tops forecast with total FY 2010 sales of EUR 193 mm
(firmenpresse) - DGAP-News: zooplus AG / Key word(s): Preliminary Results/Final Results
zooplus tops forecast with total FY 2010 sales of EUR 193 mm
28.01.2011 / 07:58
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- Total FY 2010 sales +49% y-o-y at EUR 193 mm exceed forecast of
EUR 185 mm
- Dynamic growth momentum expected to continue into 2011
- FY 2010 EBT within EUR 2.5 mm - EUR 3.5 mm forecast range
- 2009 DPR/FREP audit without significant effects upon 2010 and beyond
Munich, January 28th, 2011 - zooplus AG (WKN 511170, ISIN DE0005111702,
ZO1), Europe's leading internet retailer for pet supplies, has reached
preliminary total sales of EUR 193 mm during FY 2010. EUR 178 mm of sales
were generated through the company's various online shops, while another
EUR 15 mm resulted from other related operating activities. zooplus,
therefore, recorded a total y-o-y growth of 49% over FY 2009.
zooplus successfully continued upon its growth trajectory during 2010. In
the words of Florian Seubert, CFO and Co-Founder: 'zooplus remains a pure
blood growth story. The development of our market as well as zooplus itself
clearly confirms our unbiased focus on growth. Of course we could quickly
and significantly enhance our earnings capacity by reducing our marketing
efforts. But this would only be counterproductive: sales growth and
international market penetration continue to be our major goals towards
consolidating and expanding our market leadership. We believe that this is
the key driver of the company's long term value.'
The company also announced yesterday that its FY 2009 accounts and notes
were selected for a random audit by DPR / Deutsche Prüfstelle für
Rechnungslegung - Financial Reporting Panel. The panel's single negative
finding was that the temporary sales allocation resulting out of the
zooplus customer loyalty programme was calculated by employing a method
which resulted in too low an apportionment for unused points. Due to the
company's strong growth and corresponding increase in the issuance of
'zooPlusPoints' this leads to a marginal roll-over effect in terms of
earnings and sales within the points' 24-months validity period. This
effect is neutralized, however, over a period of 2 years and above when
comparing the hitherto used method with the new and corrected DPR method.
The company's FY 2010 pre-tax earnings remain unaffected and are being
narrowed down to within a range of between EUR 2.5 mm and EUR 3.5 mm.
Moreover, the correction has no impact whatsoever upon the planned growth,
financial standing or future earnings of the company. Also, the correction
does not have any negative cash effects.
Florian Seubert explains the adjustment of the 2009 accounting: 'Of course
we regret this mistake which was made within the context of the first-time
implementation of IFRIC 13 (customer loyalty programmes) under IFRS
accounting dating back to FY 2008. The reason for the equity and earnings
amendments in 2009 lies within our strong growth and corresponding increase
in bonus points granted. The calculation method will now be adapted, yet we
do not expect any significant impact on sales and earnings during 2010 and
beyond'.
zooplus' full financial report for FY 2010 will be published on March 30th,
2011. It will be available for download at
http://investors.zooplus.com/en/welcome
Company profile
zooplus was founded in 1999 and has become Europe's leading online retailer
for pet products, measured by sales and other income. In 2010 total sales
amounted to EUR 193 mm. Average annual growth exceeded 50% for the past
three years. The company's profitable business model has already been
introduced successfully in 17 countries. zooplus offers products for all
pet varieties as well as equine supplies. Its product range comprises foods
(dry and wet pet foods, pet food supplements such as chewing bones and
snacks) as well as pet accessories (such as cat trees and toys) over a wide
range of categories. In addition to a broad selection of over 7,000
products zooplus customers benefit from online veterinary consultations as
well as a number of other interactive features. Pet products represent a
significant market segment of the European consumer retail space. Overall
revenues from pet food and accessories amounted to EUR 18 billion within
the European Union in 2010 alone. Based on the growing trend towards
humanisation of pets in western industrialised countries, pet owners are
adapting their purchasing behavior in favour of health, wellness and other
premium products. In addition, European eCommerce is expected to enjoy
sustained, strong growth in the years to come.
Online: http://investors.zooplus.com/en/welcome/
Contact Investor Relations:
cometis AG
Dominic Großmann
Tel.: +49 (0)611-205855-15
Fax: +49 (0)611-205855-66
E-mail: grossmann(at)cometis.de
End of Corporate News
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28.01.2011 Dissemination of a Corporate News, transmitted by DGAP - a
company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
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Language: English
Company: zooplus AG
Sonnenstraße 15
80331 München
Deutschland
Phone: +49 (0)89 95 006 - 100
Fax: +49 (0)89 95 006 - 500
E-mail: contact(at)zooplus.com
Internet: www.zooplus.de
ISIN: DE0005111702
WKN: 511170
Listed: Regulierter Markt in Frankfurt (Prime Standard);
Freiverkehr in Berlin, Düsseldorf, Stuttgart
End of News DGAP News-Service
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110252 28.01.2011
Datum: 28.01.2011 - 07:58 Uhr
Sprache: Deutsch
News-ID 33075
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Kategorie:
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