“on track despite missing expectations”

02 Jun, 15

Website sales for the UK up 32.9% to £381.5m

Online retailer of major domestic appliances has announced its total revenue is up £23.8% to £476.7million, compared to £384.9million in 2014.

It has reported website sales up 32.9% for the UK to £381.5million, with total UK revenue up 22.3% to £470.8million.Whereas revenue in Europe for the six months of trading was £5.8million.

The UK adjusted EBITDA was also up 47.3% to £16.5million, with UK adjusted EBITDA margin increasing up 3.5%. However, in Europe, reported an adjusted EBITDA loss of £8.0million, representing trading losses in Germany from its launch, bringing its Group adjusted EBITDA to £8.5million, down from £11.2million in 2014.

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It also reported a Group operating loss of £2.2million, after investment in start-up operations in Europe and long term investment plans of £2.5million. The group adjusted operating profit of £4.5million was £4.8million, from £8.4million in 2014, after deducting Europe adjusted operating loss of £8.2million.

Chief operating office of, John Roberts commented on the results: “AO is an exceptional business and I am very pleased with the achievements we have made over the year, particularly in Germany and with the successful introduction of the AV category to Our long-term plan is on track and, despite missing our financial expectations for the year; we have continued to take market share in the UK MDA market delivering significant growth in UK sales and adjusted EBITDA.

“Our customer proposition remains strong – our unbeatable prices, huge range and amazing service mean our customer satisfaction levels have remained exceptional and we will continue to focus on this in the year ahead. The passion we have for our customers, staff and all other stakeholders has never been stronger and we still believe we can change the way Europe buys its electrical simply by caring more and executing brilliantly.”