Europe’s leading online pet retailer, zooplus, continued its sustainable growth path in the first six month of 2021 despite being hit by container and raw materials shortages during the first quarter.
The German company increased total sales by 16% to €1,002.2m – up from €862.5m in the same period last year.
Topline growth continues to be driven by the company’s large and loyal customer base. The number of active repeat customers had grown to 5.4 million as of June 30, 2021 and the revenue retention rate was at 98% compared with 95% in the first half of last year.
With €42.2m, EBITDA was significantly above the previous year (first half 2020: €29.4m).
CEO Dr Cornelius Patt said: “The first half of 2021 has shown that increasing pet ownership as well as the growing trend towards online are here to stay across all major European markets.
PREMIUMISATION
“These trends are also accompanied by an increasing pet friendliness of both work and leisure environments, ongoing premiumisation of food, pet care and accessories and an increased digital mindset of pet parents.
“This is reflected in our sustainable growth trajectory in the first half of 2021 with sales exceeding the €1bn mark for the first time in the company’s history. Backed by our stable growth figures and the robust market,we are highly confident that we will achieve the mid-to upper end of our full year guidance.”
The share of orders with at least one own brand product increased year on year, underscoring the growing popularity of zooplus’s own brands.
According to international press reports, Zooplus has accepted a takeover offer worth around €3bn from US private equity firm Hellman & Friedman.
Both the management and supervisory boards reportedly welcome the takeover and intend to recommend shareholders accept it.
Hellman & Friedman had already acquired several stakes in German companies in the past, including Axel Springer and AutoScout24.
Zooplus said Hellman & Friedman had signed irrevocable tender commitments for around 17% of Zooplus’s share capital.
