DGAP-Adhoc: Zalando SE: Revision of Guidance for the Fiscal Year 2018

BERLIN, SEPTEMBER 17, 2018 // Zalando SE, Europe's leading online platform for fashion and lifestyle, revises its guidance for 2018, as the extended and unusually hot summer period and a delayed switch to the fall/winter season weigh on revenue growth and adjusted EBIT.

Pursuant to current estimates of financial results for the third quarter of 2018, and expectations on trading in the current market environment, the Zalando Management Board reassessed the company's outlook for 2018 today.

For the fiscal year 2018, Zalando now expects revenue growth around the low end of its 20-25% target growth corridor (previously: in the lower half of such corridor) and an adjusted EBIT of EUR 150-190 million (previously: at the low end of a EUR 220-270 million target range). Capital expenditure (Capex) and net working capital guidance remain unchanged.

For the third quarter 2018, management expects revenue growth and adjusted EBIT to be significantly below analyst estimates (company-compiled median analyst estimates at the date hereof: 19.8% revenue growth, EUR -2 million adjusted EBIT).

Despite the revised guidance, revenue growth continues to significantly outperform the overall fashion market. This is in line with the company's strategy of focusing on gaining market share.

All figures reported herein are preliminary and unaudited. Zalando will report its financial figures for the third quarter on November 6, 2018.

Adjusted EBIT, capex and net working capital have the meaning set out in our Half-Year Report 2018, p. 49/50, which is available online at https://corporate.zalando.com/en/investor-relations.

Person making the notification: Dr. Ansgar Schönborn, Head of Corporate Law

Contact for investors and analysts:
Patrick Kofler
Investor Relations
Patrick.Kofler@zalando.de
+49 (0)30 20968 1584

Contact for media:
Alexander Styles
Corporate Communications
Alexander.Styles@zalando.de
+49 (0)30 2096 85146