Answear.com Sa · GPW:ANR
Answear.com Sa — Q1 2026 Earnings Presentation
20 slides from Answear.com Sa's earnings presentation, May 2026
Slide 1: Answear.com Investor Presentation Q1 2026
ANSWEAR.COM INVESTOR PRESENTATION Q1 2026 M ay 2 0 2 6
Slide 2: Key Facts Q1 2026
KEY FACTS Q1 2026 Q1 2026 results summary Q1 2026 events summary We remain one of the fastest-growing fashion e-comm players in Europe despite a challenging market environment 378.7 PLN m 151.2 PLN m In Q1 2026 revenue reached PLN 378.7m, representing 7.4% growth YoY. Revenue Gross profit + 7% YoY +
Slide 3: We remain one of the fastest-growing fashion e-commerce players in Europe
WE REMAIN ONE OF THE FASTEST-GROWING FASHION E-COMMERCE PLAYERS IN EUROPE
Slide 4: Steady revenue growth despite a challenging market environment
STEADY REVENUE GROWTH DESPITE A CHALLENGING MARKET ENVIRONMENT Revenue (PLN m) +16% Sales growth despite a challenging market environment, unfavourable 1750,1 Revenue at constant currency FX rates and uneven macro 1 508,6 conditions across foreign markets +13% In Q1 2026 sales revenue grew by 1 701,
Slide 5: We stand out positively against the competition
WE STAND OUT POSITIVELY AGAINST THE COMPETITION REVENUE GROWTH IN 2025 10% 7% 3% 1% 1% LPP*** Answear Zalando * LuxExpirience ** Boozt * Adjusted for the effect of the acquisition of AboutYou. Including the transaction, growth was c. 23% ** 2Q25 vs. 2Q25 as of 10/02/2026 *** Preliminary operational
Slide 6: Very strong results in the Polish market
VERY STRONG RESULTS IN THE POLISH MARKET POLAND (PLN m) EU COUNTRIES EX-POLAND (PLN m) NON-EU COUNTRIES (PLN m) Poland is the growth leader (+21.3% YoY) — synergy between online marketing and brand-building activities in our concept stores at Fabryka Norblina 24% 28% 27% 30% 51% 47% 48% 47% 25% 24%
Slide 7: We have headroom for further growth
WE HAVE HEADROOM FOR FURTHER GROWTH TOTAL AVAILABLE FINANCING (PLN m) NET DEBT + LEASES (PLN m) Total limit amount is PLN 391m, of which PLN 296m is in credit facilities and PLN 95m in factoring instruments (reverse factoring and confirming). -10% 183,6 164,5 Total utilisation of limits at the end o
Slide 8: Improved working-capital efficiency
IMPROVED WORKING-CAPITAL EFFICIENCY Key working-capital metrics Operational drivers of improved turnover Inventory (days) Payables (days) Discipline in brand selection after 1–2 seasons 230 We are increasing exposure to trending brands and reducing weaker ones — 215 higher inventory turnover in the
Slide 9: Business profitability under pressure with visibility on improvement in coming quarters
BUSINESS PROFITABILITY UNDER PRESSURE WITH VISIBILITY ON IMPROVEMENT IN COMING QUARTERS Q1 2026 is traditionally the Gross profit (PLN m) EBITDA (PLN m) weakest quarter due to the winter sale period + 14% Sales margin in Q1 2026 688 + 65% reached 39.9% — 0.3 pp. YoY 56 higher thanks to consistent wo
Slide 10: Unfavourable FX rates weighed on Q1 2026 net result
UNFAVOURABLE FX RATES WEIGHED ON Q1 2026 NET RESULT EUR/PLN Q1 2026 (PLN depreciation) EUR/PLN Q1 2025 (PLN appreciation) 4,2894 4,2730 4,2130 4,2267 4,2233 4,1839 4,2131 4,1575 31.12.2025 30.01.2026 27.02.2026 31.03.2026 31.12.2024 30.01.2025 28.02.2025 31.03.2025 PLN weakening generated PLN 4.5m o
Slide 11: We have recalibrated our 2026 earnings target
WE HAVE RECALIBRATED OUR 2026 EARNINGS TARGET EBITDA (PLN m) ESOP EBITDA target (PLN m) INCENTIVE PROGRAMME Q4 2025 below expectations Updated 2026 target threshold lowered by 10% 120 due to aggressive price competition and high marketing EBITDA in Q4’25 amounted to PLN 11m — spend significantly bel
Slide 12: AOV — we stand out positively against the competition
AOV — WE STAND OUT POSITIVELY AGAINST THE COMPETITION AOV value 2025 (PLN) 1 037 643 600 * 594 488 * 380 364 296 * 267 222 * 130 106 ** r ** o ** CS CS M a vo d SS r PR we i lan C M W e a s od a CC PR sw An M Z A n * Gross AOV value ** Results for Q1 2025 Page 12
Slide 13: AOV growth across all sales channels
AOV GROWTH ACROSS ALL SALES CHANNELS ANSWEAR (PLN) PRM (PLN) AOV growth across all segments and channels in Q1 ONLINE OFFLINE ONLINE OFFLINE 2026 vs Q1 2025 +8.3% 1037 Strongest growth: ANSWEAR 957 Offline +13.4% YoY (PLN 567 → 643) +13.4% 643 +4.2% 567 PRM maintains a clear price 589 premium: Offli
Slide 14: Investment in marketing
INVESTMENT IN MARKETING
Slide 15: Record spend on marketing brand-building activities…
IN Q4 2025 AND Q1 2026 — RECORD SPEND ON MARKETING BRAND-BUILDING ACTIVITIES… MARKETING COSTS (PLN m) STRATEGY AND SPEND 118,73 Marketing spend in Q2 2026 96,19 Marketing spend in Q1 2026: PLN 68.5m (vs 87,75 PLN 62.3m in Q1 2025) — driven by dynamic 81,19 68,45 growth in Poland and the AW25 sale 63
Slide 16: …but we are on a path to reduce marketing costs in 2026
…BUT WE ARE ON A PATH TO REDUCE MARKETING COSTS IN 2026 Path to reduce marketing costs in 2026+ A new approach to marketing Growing scale of operations = lower share of fixed costs Balanced policy on brand-building and sales-driving and reach-campaign costs activities Optimisation of upper-, mid- an
Slide 17: Growth strategy aimed at building the leader in the premium fashion market in Central Europe
GROWTH STRATEGY AIMED AT BUILDING THE LEADER IN THE PREMIUM FASHION MARKET IN CENTRAL EUROPE Page 17
Slide 18: Plans for the coming quarters
PLANS FOR THE COMING QUARTERS OFFERING DEVELOPMENT OFFERING DEVELOPMENT • Further expansion of the offering, onboarding additional • Further expansion of the offering, onboarding additional brands, optimisation of stocking structure and product brands, optimisation of stocking structure and product
Slide 19: Plans for the coming quarters
PLANS FOR THE COMING QUARTERS 2025 2026 1H 2025 2H 2025 1H 2026 2H 2026 High comparison base — less Expected improvement, better Weaker half-year, high marketing merchandise on sale in Jan–Feb — results. Very strong results, robust growth New brands, optimisation of spend, challenging market prepara
Slide 20: Thank you for your attention
THANK YOU FOR YOUR ATTENTION GET IN TOUCH: investor.relations@answear.com p.strzyzewski@innervalue.pl 20