Global Fashion Group SA (CHIX:GFGd)
€ 0.908 0 (0%) Market Cap: 55.88 Mil Enterprise Value: -40.72 Mil PE Ratio: 0 PB Ratio: 0.20 GF Score: 44/100
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Q3 2024 Global Fashion Group SA Earnings Call Transcript

Nov 14, 2024 / 08:00AM GMT
Release Date Price: €0.908
Helen Hickman
Global Fashion Group SA - Chief Financial Officer

Good morning, everyone and welcome to Global Fashion Group's Q3 2024 results presentation.

I'm Helen Hickman, CFO of GFG. I'm here with our CEO Christoph Barsz who will join us for Q&A. Today, I'll provide an overview of our third quarter results and full year guidance. After that, we'll open it up for questions.

In Q3, we saw the recovery and topline performance continue from last quarter with NMV declining 4% year on year. This is the slowest rate of decline we've achieved in the last two years and is significantly better than the 17% and 12% declines seen in Q1 and Q2 respectively.

This quarter, we also saw a slower rate of decline in active customers and orders driven by positive momentum in reactivated customers and a reduced churn rate.

Our gross margin increased 2.5% points reaching a Q3 record high of 45%. This was driven by stronger retail margins due to less discounting and a more efficient inventory profile across all regions. This gross margin expansion coupled with a successful

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