ASOS PLC (FRA:DYQ)

€ 4.248 -0.1 (-2.3%) Market Cap: 539.77 Mil Enterprise Value: 1.24 Bil PE Ratio: 0 PB Ratio: 0.85 GF Score: 67/100

Half Year 2021 ASOS PLC Earnings Call Transcript

Apr 08, 2021 / 07:30AM GMT

Release Date Price: €63.22 (-3.13%)

Transcript

Nicholas Beighton

ASOS Plc - CEO, Member of Executive Board & Director

Good morning, everybody, and welcome to our H1 results presentation. Back in October, we discussed how in the previous 12 months, we've been focusing on strengthening the foundations for growth at ASOS. We then restated our ambition and mission to be the world's #1 destination for fashion-loving 20-somethings and how the ASOS brands, the ASOS platform and the ASOS experience will drive that ambition.

Today, we set out our results and strategic progress for the last 6 months, and we're going to share some learnings with you.

So let me turn to the key results during the half. We've had an exceptional first half with record PBT, which was more than 3x greater than last year. And even when adjusting for the COVID tailwinds, this has meant we have delivered double the profit we landed in H1 last year.

We reported strong retail sales growth of 24%, with the U.K. delivering outstanding growth of 39% year-on-year. The U.S. market delivered solid growth of 16%, the EU grew 18% and the Rest Of World grew by 16%.

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