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Highs and lows

Zooplus board chairman Dr Cornelius Patt expects higher logistics costs and a possible drop in sales as a consequence of the coronavirus pandemic.

An increase of 14 per cent in sales to 1.524 bn euros, satisfactory earnings before interest, taxes, depreciation and amortisation (Ebitda) of 11.8 mio euros (2018: 8.6 mio euros), but much poorer earnings before taxes (EBT) to the tune of -15.9 mio euros compared with -2.3 mio euros the previous year. These are the highs and lows characterising the final figures for fiscal 2019 that have now been published by Zooplus, Europe's leading online retailer of pet products.

For the current financial year, which is likely to be severely impacted by the coronavirus crisis, Zooplus expects growth performance in the range of last year, thus in the order of around 180 mio euros. "In the e-commerce sphere we are expecting less disruption than in classic forms of distribution," says board chairman Dr Cornelius Patt. Although he expects to benefit from the continuing steady demand in the pet supplies sector during the pandemic, it cannot be ruled out that even his company will have to bear the brunt of higher logistics costs and a loss in sales in the next few months.

The supervisory board of Zooplus AG has decided in the meantime to extend the contract of co-founder and board chairman Dr Cornelius Patt for a further term of three years, starting on 1 January 2021.

|26 March 2020 | 13:17


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