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31 Mar 2016 07:00
AO WORLD PLC
PRE-CLOSE STATEMENT
31 March 2016
AO World plc ("the Company" or "AO"), the UK's leading online retailer of major domestic appliances, today gives a pre-close trading update for its full financial year; the twelve months to 31 March 2016.
Our UK business performed strongly during the fourth quarter with revenue and EBITDA ahead of our expectations as we continued to gain market share. As a result, we expect full year UK revenue growth to be c.18.5% with revenue growth from AO.com to be c. 27% and UK adjusted EBITDA to be c. £17m. Expectations for the UK business in the next financial year remain unchanged.
In Europe we started trading in the Netherlands on 1st March, leveraging our German infrastructure. We expect revenue in our European segment to be within the current range of expectations. Our European adjusted EBITDA for the full year will be slightly better than expected due to our focus on driving efficiencies. We expect such focus to continue until we move in to our new regional distribution centre in Bergheim later in the year, when we will look to accelerate volume growth.
Our next update to the market will be our preliminary statement on 8 June 2016.
Analyst / Investor Call
AO World plc will be hosting a conference call for analysts and investors at 8:00am (UK time) today. Dial-in details for this call are: 020 3139 4830, pin code: 88727041#
For further information, please contact:
AO World plc Mark Higgins
| Tel: +44(0) 1204 672403 ir@ao.com
|
Tulchan Communications Susanna Voyle Michelle Clarke
| Tel: +44(0) 20 7353 4200 ao@tulchangroup.com |
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