Giglio.com Spa · MIL:GCOM
Giglio.com Spa — FY2024 Earnings Presentation
41 slides from Giglio.com Spa's earnings presentation, Mar 25, 2025
Slide 1: Investor Presentation - Financial Results 2024
INVESTOR PRESENTATION - FINANCIAL RESULTS 2024 25-03-2025
Slide 2: GIGLIO.COM: a solid business model
GIGLIO.COM: a solid business model A strong business model delivering a strong performance STRONG BUSINESS MODEL STRONG PERFORMANCE An innovative marketplace, a community of over 200 Long-term track record of revenue growth confirmed connected boutiques and brands. Unlike other during and after the
Slide 3: 2024's key financials
2024’s key financials A robust growth combined with an improved profitability all figures in mln As a consequence of the luxury e-commerce slowdown and a renewed -10% focus on profitability, revenues vs. 2023 went down by 18%. -18% REVENUES all figures in mln The company has maintained its recent up
Slide 4: 2024's key financials by semester
2024’s key financials by semester Positive EBITDA in H2 H1 H2 all figures in mln all figures in mln -17% -19% REVENUES -30 bsp +80 bsp EBITDA MARGIN
Slide 5: 2024's milestones
2024’s milestones The main events of the semester H1 2024 H2 2024 Digital Gateway Giglio.com: launched a B2B business line to Community Shopping: launched a new business line which fully support the digital journey of its clients through services aims to synergistically connect its partners’ ecosyst
Slide 6: 2024's milestones | Digital Gateway
2024’s milestones | Digital Gateway A B2B business line to support the digital journey of its clients Within an area of over 3,500 We offer services such as editorial square meters, we manage all campaign, visual designs, shooting processes through a copywriting highly optimized workflow, which and
Slide 7: 2024's milestones | Community Shopping
2024’s milestones | Community Shopping A new business line which aims to synergistically connect its partners’ ecosystems and inventories The infinite catalog at the service of your boutique A large catalog of clothing and fashion accessories made available to affiliated multi-brand stores. Each Par
Slide 8: 2024 in numbers
➢ Close to break-even EBITDA (-0.2mln €) improved vs. 2023 (-0.4mln) PROFITABILITY AND despite the luxury slowdown. COST ➢ Break-even in H2 with positive EBITDA (+0.1mln €) MANAGEMENT ➢ Reduced fixed costs vs. 2023 (-1,5mln €) ➢ Reduced variable costs with incidence on revenue down 210 bsp ➢ A more
Slide 9: Deep dive: economic and financial KPIs
Deep dive: economic and financial KPIs + GMV page 10 ➢ Revenues and gross profit page 11 - Marketing & Communication page 12 - Fulfillment expenses page 13 - Variable and Fixed expenses page 14-15 - Other revenues and capitalization page 16 ➢ EBITDA and Net Result page 17-20 ➢ Cash Flow and NFP page
Slide 10: Gross Merchandising Value (GMV) | Strong long-term growth
Gross Merchandising Value (GMV) | Strong long-term growth Supported by a wider Community Store and international expansion GMV YEARLY TREND all figures in mln The luxury e-commerce slowdown, which has affected the whole industry was the main reason why the GMV had a contraction vs. 2023 (-17%). In o
Slide 11: Revenues and Gross profit | Control of marginality
Revenues and Gross profit | Control of marginality Marginality in line vs. 2022 despite the difficult macro-economic scenario REVENUES AND GROSS PROFIT MARGIN GROSS PROFIT all figures in mln -9% -21% The marginality of the company was in line vs. 2022 (27.9% in 2024 vs. The Gross Profit shows a -21%
Slide 12: Marketing & Communication | Outstanding Marketing Fundamentals
Marketing & Communication | Outstanding Marketing Fundamentals Performances supported by controlled and highly efficient marketing investments as focus on nurturing the customer base increases COMPETITIVE COST PER NEW CUSTOMER ACQUISITION As a consequence of a prudent approach aimed at controlling m
Slide 13: Fulfillment | Optimization and efficiency
Fulfillment | Optimization and efficiency Optimized the supply chain with a continuous improvement approach FULFILLMENT EXPENSES Fulfillment = transport, handling and packaging all figures in mln In-housed logistics avoiding all the inefficiencies of third parties experienced in 2021. Re-negotiated
Slide 14: Variable expenses
Variable expenses Optimized variable expenses with strong acceleration in H2 H1 H2 VARIABLE EXPENSES Marketing + transport, handling, packaging + duties + payment fees +100 bsp +300 bsp Strongly improved incidence of the variable expenses on total revenues (+210 bsp), achieved thanks to a refocus on
Slide 15: Fixed expenses
Fixed expenses Optimized fixed expenses with strong acceleration in H2 H1 H2 FIXED EXPENSES HR, G&A and others -140 bsp +140 bsp Strongly improved fixed expenses with 1.5mln € total savings vs. 2023, achieved thanks to an optimization of expenses and investments. The efficiency was stronger in H2 wh
Slide 16: Other revenues and capitalization
Other revenues and capitalization Unfavorable comparison vs. 2023 due to lack of capitalizations H1 H2 OTHER REVENUES AND CAPITALIZATION HR, G&A and others +0 bsp -130 bsp The lack of capitalization in 2024 had a negative impact of -60 bsp compared to 2023. INCIDENCE ON REVENUE VS. 2023 H1 H2 TOT OT
Slide 17: EBITDA | Strong improvement in profitability
EBITDA | Strong improvement in profitability EBITDA MARGIN: 2024 vs. 2023 The EBITDA margin shows an improvement vs. 2023 (+20 bsp) despite the industry’s slowdown. Most of the optimizations came from the variable costs, while considerable optimization of fixed costs occurred mostly in H2 EBITDA mar
Slide 18: EBITDA | Strong improvement in profitability
EBITDA | Strong improvement in profitability Strongly improved EBITDA suggests a positive path to profitability EBITDA MARGIN A quick and on track return to profitability is confirmed by the Adjusted EBITDA margin trend in the recent history. It shows considerable improvements vs. 2023 (+20 bsp), vs
Slide 19: Net Result | Strong long-term improvement in profitability
Net Result | Strong long-term improvement in profitability Strongly improved Net Result confirms a positive path to profitability NET RESULT Despite the challenging macroeconomic scenario, the company has maintained its recent upward trajectory, bringing it closer to the break-even.
Slide 20: Net Result | Road to profitability
Net Result | Road to profitability Combining ambitions for growth with a gradual return to profitability 2024 2025 2026 Increase international share of sales to improve marginality Keep developing the e-concession model with the brands in order to reduce intermediations Build a strong commercial tea
Slide 21: Cash Flow & NFP
Cash Flow & NFP Cash Flow FY2024 Net Financial Position Bridge FY2023 - FY2024 NCF Interests & Other CapEx Δ Adj WC Adj EBITDA Δ NM Share NCF Adj NFP 2023 Adj NFP 2024 buybacks Figures in thousands 2024 2023 Net cash flow from operations in 2024 is positive for €0.3 million (-€2.6 million in 2023) a
Slide 22: Profit & Loss
Profit & Loss Revenues and cost structure vs. 2023 vs. LY 2024 on total revenue 2023 on total revenue (all numbers in k) on total revenue Revenue € 46,189 € 56,283 Cost of revenue -€ 33,313 -72.1% -€ 39,933 -70.9% -1.2 Gross Profit € 12,875 27.9% € 16,350 29.1% -1.2 Marketing expenses -€ 1,959 -4.2%
Slide 23: Balance sheet
Balance sheet Balance sheet vs. end of 2023 (all numbers in k) 12/31/2024 12/31/2023 Delta Intangible fixed assets € 5,967 € 6,556 -€ 589 Tangible fixed assets € 1,192 € 1,377 -€ 185 Financial assets € 250 €0 € 250 Total fixed assets € 7,410 € 7,933 -€ 523 Adjusted fixed assets € 7,160 € 7,933 Inven
Slide 24: Corporate Presentation
CORPORATE PRESENTATION 25-03-2025
Slide 25: GIGLIO.COM: a solid business model
GIGLIO.COM: a solid business model A strong business model delivering a strong performance STRONG BUSINESS MODEL STRONG PERFORMANCE An innovative marketplace, a community of over 200 Long-term track record of revenue growth confirmed connected boutiques and brands. Unlike other during and after the
Slide 26: Our Story
Our Story Born in 1996 with the first online fashion boutique in Italy: GIGLIO.COM 2016 2021 2022 2024 From 1P to 3P We are 100 GIGLIO.COM in Piazza Exceeded 50 mln € revenue Release of the new Affari and 125k active customers Community Shopping feature The company reaches a The employee team now A
Slide 27: A solid business model: an innovative marketplace
A solid business model: an innovative marketplace An innovative business proposition connecting over 200 fashion boutiques MONTH 0 MONTH +9 MONTH +15 MONTH +18 Brands WHOLESALE The wholesaler The wholesaler pays The wholesaler sells the The unsold stock is Wholesaler MODEL orders the collection the
Slide 28: A solid business model: an innovative marketplace
A solid business model: an innovative marketplace An innovative business proposition connecting over 200 fashion boutiques RISK-FREE CASH CATALOG SUPPLY CHAIN INTERACTION PLATFORM INVENTORY GENERATIVE CONTROL & FULFILLMENT WITH CUSTOMER Different from the wholesalers Unlike Mytheresa, Luisaviaroma a
Slide 29: A solid business model: unparalleled selection
A solid business model: unparalleled selection Sourcing inventory from more than 200 partners: our Community Store Number of partners BRANDS IN E-CONCESSION MODEL Dozens of brands connected through an e-concession model, integrating their collections into GIGLIO.COM. MULTI-BRAND STORES Over 190 luxu
Slide 30: A solid business model: fully owned and flexible technology
A solid business model: fully owned and flexible technology A fully owned technology as a competitive advantage CUSTOM INTEGRATION EXTERNAL PROVIDERS Google Facebook Atelier98 Eversell Analytics Google Emarsys Affiliation Magic Ads E-fashion Store Hotjar Xmag CORE DATA WAREHOUSE COMMUNITY MERCHANT A
Slide 31: A solid business model: strong branded DNA
A solid business model: strong branded DNA A curated boutique “Proudly Made in Mediterraneo” A melting pot of cultures, peoples and aesthetic values. We are tireless seekers of beauty. We are inspired by the vitality and sense of inclusiveness typical of the Mediterranean, which are part of everythi
Slide 32: A solid business model: strong branded DNA
A solid business model: strong branded DNA A curated boutique “Proudly Made in Mediterraneo” Inclusiveness Sustainability Reliability Our mission is to enhance inclusive We promote system change with greater The satisfaction of our customers is the beauty (ethnic, physical, and gender) ecological in
Slide 33: Management Team
A solid business model: growing managerial structure Structuring a solid and experienced management team FOUNDERS FOUNDERS EMPLOYEES BREAKDOWN Breakdown by age Breakdown by gender GIUSEPPE GIGLIO FEDERICO GIGLIO CO-CEO & CO-FOUNDER CO-CEO & CO-FOUNDER # of employees, as of Aug. 31st 2024 MANAGEMENT
Slide 34: A solid business model: a global presence
A solid business model: a global presence Bringing luxury fashion to a global consumers’ demand Italy 36% Oth. Europe 32% North America 8% APAC 17% From the boutiques... to GIGLIO.COM... RoW 7% GMV 2024 by geo-area Addressing fashion lovers around the world - 150 countries served, - 10 languages ava
Slide 35: Strong performance: a long-term track record of growth
Strong performance: a long-term track record of growth Growth of both revenues and marginality at the same time 69,5% 64,7% 67,4% 64,2% 66,5% 55,4% +159% Revenues vs. 2019 pre-covid +195% Gross Margin vs. 2019 pre-covid +9 pp Share of international sales vs. 2019 pre-covid 29,1% 27,7% 27,9% 25,5% 26
Slide 36: Strong performance: outstanding marketing fundamentals
Strong performance: outstanding marketing fundamentals highly efficient marketing investments as focus on nurturing the customer base increases STRONG NEW CUSTOMER ACQUISITION AND COMPETITIVE COST OF ACQUISITION As a consequence of a prudent approach aimed at controlling margins and MARKETING EXPENS
Slide 37: Strong performance: excellent customer satisfaction and return rate
Strong performance: excellent customer satisfaction and return rate Outperforming all the benchmarks on Trustpilot 5 stars 86% 4 stars 5% 3 stars 1% 2 stars 1% 1 star 7% A <16% return rate due to impeccable customer service that 16% makes our customers satisfied with our service
Slide 38: Strong performance: quick return to profitability
Strong performance: quick return to profitability With a 2023 close to break-even EBITDA MARGIN A quick and on track return to profitability is confirmed by the Adjusted EBITDA margin trend in the recent history. It shows considerable improvements vs. 2023 (+20 bsp), vs. 2022 (+160 bsp) and vs. 2021
Slide 39: Strong performance: structurally positive financials
Strong performance: structurally positive financials Structurally positive Cash Flow and negative Net Working Capital An asset-light business model with negative Net Working Capital (all numbers in k) 12/31/2024 A low CapEx business model as it does not involve tangible investments on production or
Slide 40: Before you leave…
Before you leave… Would you like to take a closer look to GIGLIO.COM? 40
Slide 41: GIGLIO.COM
GIGLIO.COM