ABOUT YOU

In the most recently closed financial year, the Otto Group nearly doubled its earnings before interest and taxes from €276 million to €641 million; after taxes, €312 million remained. Revenue fell by about 7.4 percent to €13.8 billion, mainly due to the sale of the subsidiary About You to Zalando and weaker performance of the Bonprix brand. CEO Petra Scharner-Wolff attributes the result to growth of the otto.de platform, the profitable finance business Eos, and cost savings. » More on finanzen.net

BaFin has granted ABYxZAL Holding AG approval to disregard voting rights in ABOUT YOU Holding SE as part of an internal group restructuring. Under a contribution agreement, Zalando SE will transfer its shares in ABOUT YOU to ABYxZAL Holding AG, without any actual change in control over ABOUT YOU. The measure serves internal group structuring purposes and does not affect the management of ABOUT YOU. » More on finanzen.net

Zalando has finalized its acquisition of ABOUT YOU and will present an initial outlook for the combined business for 2025 on August 6. The remaining minority shareholders of ABOUT YOU are to be compensated through a squeeze-out, while ABOUT YOU's management will remain with the group. Zalando is targeting annual growth of 5-10 percent and an EBIT margin of 6 to 8 percent by 2028. » More on finanzen.net