Global Fashion Group SA (FRA:GFG)
€ 0.23 -0.0015 (-0.65%) Market Cap: 51.41 Mil Enterprise Value: -45.19 Mil PE Ratio: 0 PB Ratio: 0.22 GF Score: 44/100
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Q2 2022 Global Fashion Group SA Earnings Call Transcript

Aug 18, 2022 / 07:00AM GMT
Release Date Price: €1.84 (+13.83%)
Patrick Schmidt
Global Fashion Group S.A. - Co-CEO & Member of Management Board

Good morning, everyone, and welcome to Global Fashion Group's Q2 2022 Results Presentation. I am Patrick Schmidt, and I'm joined today by my Co-CEO, Christoph Barchewitz; and our CFO, Matthew Price.

I will provide an update on our strategic priorities and KPIs. Matthew will take us through the financial results and the outlook for the remainder of the year. After that, we'll open it up for Q&A.

We traded in an unusual environment in CIS, which has distorted the group performance. In early March, we settled the business for self-sufficiency. Practically, this meant that we pulled back investments and tightly controlled costs.

In the quarter, NMV in CIS was up by 39% in constant currency terms driven by higher average selling prices and high demand. Currency movements contributed to the expanded gross margin. This, alongside the actions on costs meant that profitability stepped up compared to last year.

Let's now take a look at the group performance. As always, we are presenting

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