Original-Research: Zalando SE (von Quirin Privatbank Kapitalmarktgeschäft): Buy
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Original-Research: Zalando SE - from Quirin Privatbank Kapitalmarktgeschäft
Classification of Quirin Privatbank Kapitalmarktgeschäft to Zalando SE
Q1 performance confirms full-year outlook Zalando delivered strong results in the first quarter of FY 2025: Revenue grew 7.9% yoy to EUR 2.4bn compared with EUR 2.2bn a year earlier, also supported by a strong performance in Zalando Marketing Services. GMV (Gross Merchandise Volume) increased 6.5% yoy to EUR 3.5bn. The adjusted EBIT rose by 65% to EUR 46.7m, representing a margin of 1.9% and up 0.7 percentage points, compared with EUR 28.3m a year earlier. Based on the positive development in the first three months, Zalando confirmed its full year guidance for FY 2025: It expects both GMV and revenue to grow between 4% to 9% this year compared with FY 2024 and adjusted EBIT to reach a level between EUR 530m and 590m. The guidance does not account for the effects from the planned acquisition of Hamburg-based ABOUT YOU. We leave our estimates and EUR 46.50 TP unchanged and confirm our BUY recommendation. You can download the research here: http://www.more-ir.de/d/32480.pdf For additional information visit our website: https://research.quirinprivatbank.de/ Contact for questions: Quirin Privatbank AG Institutionelles Research Schillerstraße 20 60313 Frankfurt am Main research@quirinprivatbank.de https://research.quirinprivatbank.de/
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2131234 06.05.2025 CET/CEST
Boersengefluester.de (BGFL) provides an overview of the key figures on sales, earnings, cash flow and dividends to help you better assess the fundamental development of the respective companies. All information is entered manually in our database - the source is the respective annual reports. All estimates for future figures are provided by BGFL.
| The most important financial data at a glance | ||||||||
| 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025e | ||
| Sales1 | 6.482,50 | 7.982,00 | 10.354,00 | 10.344,80 | 10.143,10 | 10.572,50 | 12.200,00 | |
| EBITDA1,2 | 360,60 | 581,50 | 660,10 | 393,40 | 524,90 | 741,80 | 916,00 | |
| EBITDA-Margin3 | 5,56 | 7,29 | 6,38 | 3,80 | 5,18 | 7,02 | 7,51 | |
| EBIT1,4 | 165,80 | 367,00 | 424,70 | 81,00 | 190,90 | 391,90 | 565,00 | |
| EBIT-Margin5 | 2,56 | 4,60 | 4,10 | 0,78 | 1,88 | 3,71 | 4,63 | |
| Net Profit (Loss)1 | 99,70 | 226,10 | 234,50 | 16,80 | 83,00 | 251,10 | 372,00 | |
| Net-Margin6 | 1,54 | 2,83 | 2,27 | 0,16 | 0,82 | 2,38 | 3,05 | |
| Cashflow1,7 | 327,20 | 527,40 | 616,20 | 459,90 | 949,50 | 654,10 | 0,00 | |
| Earnings per share8 | 0,39 | 0,86 | 0,88 | 0,06 | 0,32 | 0,96 | 1,48 | |
| Dividend per share8 | 0,00 | 0,00 | 0,00 | 0,00 | 0,00 | 0,00 | 0,00 | |
1 in Mio. Euro; 2 EBITDA = Earnings before interest, taxes, depreciation and amortisation; 3 EBITDA in relation to sales; 4 EBIT = Earnings before interest and taxes; 5 EBIT in relation to sales; 6 Net profit (-loss) in relation to sales; 7 Cashflow from operations; 8 in Euro; Source: boersengefluester.de
Auditor: KPMG
All relevant valuation ratios, dates and other investor information on your share at a glance. Good to know: All data comes from boersengefluester.de and is updated daily. This means you are always up to date. You can get brief explanations of the key figures by moving the cursor or mouse over the relevant field.
| INVESTOR-INFORMATION | ||||||
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| Zalando | ||||||
| WKN | ISIN | Legal Type | Marketcap | IPO | Recommendation | Plus Code |
| ZAL111 | DE000ZAL1111 | SE | 6.242,50 Mio € | 01.10.2014 | Kaufen | 9F4MGC4R+GF |
| PE 2026e | PE 10Y-Ø | BGFL-Ratio | Shiller-PE | PB | PCF | KUV |
| 15,05 | 24,85 | 0,61 | 52,40 | 2,34 | 9,54 | 0,59 |
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Dividend '2023 in € |
Dividend '2024 in € |
Dividend '2025e in € |
Div.-Yield '2025e in % |
| 0,00 | 0,00 | 0,00 | 0,00% |
| Annual General Meeting | Q1-figures | Q2-figures | Q3-figures | Annual press conference |
| 27.05.2025 | 06.05.2025 | 06.08.2025 | 06.11.2025 | 06.03.2025 |
| Distance 60-days-line | Distance 200-days-line | Performance YtD | Performance 52 weeks | IPO |
| -5,66% | -15,95% | -27,20% | -29,04% | +9,67% |
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