Global Fashion Group S.a. · XETR:GFG
Global Fashion — Q1 2026 Earnings Presentation
16 slides from Global Fashion's earnings presentation, Apr 30, 2026
Slide 1: Fashion & Lifestyle Destination in ANZ, LATAM & SEA
#1 FASHION & LIFESTYLE DESTINATION IN ANZ, LATAM & SEA Q1 2026 RESULTS PRESENTATION 30 April 2026
Slide 2: Delivered Strong Progress on Profitability Journey in Q1
DELIVERED STRONG PROGRESS ON PROFITABILITY JOURNEY IN Q1 €215m 46.5% (3.8)% NMV GROSS PROFIT MARGIN ADJ. EBITDA MARGIN (3.0)% yoy1 +0.5ppt yoy +3.5ppt yoy 7.2m 3.5m 2.4x ACTIVE CUSTOMERS ORDERS ORDER FREQUENCY (4.8) % yoy (7.7)% yoy +1.9% yoy (1) Constant currency growth rate. 2 Q1 2026 RESULTS PRES
Slide 3: Continued Order Frequency Growth Trend
CONTINUED ORDER FREQUENCY GROWTH TREND ACTIVE CUSTOMERS ORDER FREQUENCY (M) (X) (4.8)% +1.9% 7.5 7.2 2.3 2.4 Q1/25 Q1/26 Q1/25 Q1/26 Note: Active Customers and Order Frequency are rolling 12-month KPIs. 3 Q1 2026 RESULTS PRESENTATION
Slide 4: Increased Order Value Mitigated Lower Volumes
INCREASED ORDER VALUE MITIGATED LOWER VOLUMES NMV1 Retail Marketplace ORDERS AVERAGE ORDER VALUE1 (€M) (M) (€) (3.0)% (7.7)% +5.2% 226 215 61.2 59.4 3.8 41% 42% 3.5 Q1/25 Q1/26 Q1/25 Q1/26 Q1/25 Q1/26 (1) Growth rate is in constant currency. Bars are a graphical representation of values on a constan
Slide 5: Achieved Significant Margin Expansion Through Ongoing Cost Discipline
ACHIEVED SIGNIFICANT MARGIN EXPANSION THROUGH ONGOING COST DISCIPLINE REVENUE1 GROSS PROFIT / MARGIN ADJUSTED EBITDA / MARGIN (€M) (€M) (€M) (4.3)% +0.5ppt Q1/25 Q1/26 (7.3)% (3.8)% 146 138 (5) (11) 67 64 +3.5ppt 46.0% 46.5% Q1/25 Q1/26 Q1/25 Q1/26 (1) Growth rate is in constant currency. Bars are a
Slide 6: Maintained ANZ Momentum, Expanded LATAM & SEA Margins
MAINTAINED ANZ MOMENTUM, EXPANDED LATAM & SEA MARGINS Change on Q1/251 Q1/26 NMV (€M) Q1/26 ACTIVE CUSTOMERS (M) 104 3.4 60 51 2.0 1.8 +3.5% (4.3)% (12.3)% +3.7% (3.3)% (15.1)% ANZ LATAM SEA ANZ LATAM SEA Q1/26 REVENUE (€M) Q1/26 GROSS MARGIN 48.4% 46.7% 45.1% 70 35 34 +4.0% (8.9)% (12.5)% (0.4)ppt
Slide 7: Improved NFCF from Adj. EBITDA Gains
IMPROVED NFCF FROM ADJ. EBITDA GAINS (€M) Q1/25 Q1/26 PRO-FORMA CASH BALANCE Pro-Forma Cash (€M) Pro-Forma Net Cash Adj. EBITDA (11) (5) 185 Cash Lease Costs (4) (4) (51) Working Capital (39) (36) (19) 109 (6) Capex (3) (2) 143 115 86 Other NFCF (3) (3) Dec-25 NFCF Net Change in Other 1 Mar-26 NORMA
Slide 8: FY 2026 Guidance Confirmed
FY 2026 GUIDANCE CONFIRMED Q1 2026 FY2026 Guidance2 • NMV range reflects softer H1 expectations and different H2 trajectories to account for (3)% yoy (4)-4% yoy macroeconomic factors in our nine markets NMV1 Implies €990-1,070m • Capex and leases around 2025 levels (€13m capex and €18m leases in 202
Slide 9: Q&A
Q&A 9 Q1 2026 RESULTS PRESENTATION
Slide 10: Appendix
APPENDIX 10 Q1 2026 RESULTS PRESENTATION
Slide 11: FX Sensitivity
FX SENSITIVITY FOREIGN EXCHANGE IMPACT SUMMARY: Q1/26 at Q1/25 Rates Country (Currency) FX YoY Change NMV (€M) Revenue (€M) Adj. EBITDA (€M) Australia (AUD) (0.2)% (0.2) (0.1) 0.1 Brazil (BRL) 0.1% 0.1 0.0 0.0 Other1 (6.1)% (4.1) (1.7) 0.2 TOTAL (1.9)% (4.2) (1.7) 0.3 (1) Other FX impact largely dri
Slide 12: GFG Shares as of 31 March 2026
GFG SHARES AS OF 31 MARCH 2026 SHARE INFORMATION SHARE-BASED COMPENSATION Common shares in Type of Share dematerialised form with a nominal value of €0.01 LONG-TERM INCENTIVE PLAN1 EXECUTIVE VALUE CREATION PLAN2 Stock Exchange Frankfurt Stock Exchange Vesting Year # of Awards Exercise Price # of Awa
Slide 13: GFG Convertible Bonds Due 2028
GFG CONVERTIBLE BONDS DUE 2028 GFG CONVERTIBLE BONDS TERMS REPURCHASES BONDHOLDER PUT TOTAL Issue Size €375.0m €M 2022-2025 Q1 2026 As of Q1 2026 Status Senior Unsecured Amount 334.1 31.8 365.9 Issue Date 15 March 2021 Bondholder Put Right 15 March 2026 Outstanding Issue Size1 40.9 9.1 9.1 Maturity
Slide 14: KPI Definitions
KPI DEFINITIONS Number of customers who purchased at least one item after cancellations, rejections and returns ACTIVE CUSTOMERS in the last twelve months EBITDA adjusted for share-based payment expenses, impairment of goodwill and other non-financial assets, Group ADJUSTED EBITDA recharges and asso
Slide 15: Upcoming Events
UPCOMING EVENTS DATE EVENT LOCATION 11 May 2026 Equity Forum German Spring Conference Frankfurt 20 May 2026 Annual General Meeting 2026 Luxembourg 13 August 2026 Q2 2026 Results Virtual 1 September 2026 Equity Forum German Fall Conference Frankfurt 21 September 2026 Berenberg & Goldman Sachs German
Slide 16: Disclaimer
DISCLAIMER Certain statements included in this document are forward-looking statements. Forward-looking statements can typically be identified by the use of words such as “expects”, “may”, “will”, “could”, “should”, “intends”, “plans”, “predicts”, “envisages” or “anticipates” or other words of simil