Answear.com Sa · GPW:ANR
Answear.com Sa — H1 2026 Earnings Presentation
28 slides from Answear.com Sa's earnings presentation, September 2026
Slide 1: Investor Presentation Q2 and 1H 2026
ANSWEAR.COM INVESTOR PRESENTATION Q2 AND 1H 2026 September 2026
Slide 2: Key Facts Q2 2026
KEY FACTS Q2 2026 Q2 2026 results Q2 2026 highlights Online sales growth accelerated to 11.5% Online sales rose 11.5% YoY in Q2 to PLN 438m. Revenue amounted to 436.3 PLN m 44.9 % PLN 436m, up 9.3% on the prior year. Revenue Gross margin % +9% YoY +1.3 pp YoY Significant gross margin improvement Gro
Slide 3: Accelerating Sales Growth
ACCELERATING SALES GROWTH
Slide 4: Online Sales +11.5% YoY in Q2
ONLINE SALES +11.5% YOY IN Q2 Revenue (PLN m) Online sales grew 5.1% YoY in Q1 +16% and 11.5% YoY in Q2. Growth has 1,750.1 Revenue at constant currency accelerated for the second 1 508,6 consecutive quarter. +13% April was 6.1% weaker YoY, 751,9 815,0 +8.4% reflecting cool weather and a 1701,7 +9.3
Slide 5: Strong Position Versus Competitors
STRONG POSITION VERSUS COMPETITORS REVENUE GROWTH IN Q2 2026 (YoY) 13,0% 9,3% 3,0% 1,1% Modivo.com*** ASOS** Boozt Answear Modivo Platform*** Zalando* -13,0% -14,1% GROSS MARGIN IN Q2 2026 48,6% 45,8% 44,9% 43,2% 40,9% 40,1% ASOS** Modivo.com*** Answear Zalando B2C* Zalando Group* Boozt +3.5 pp +4.5
Slide 6: AOV Rising, Fastest in the Offline Channel
AOV RISING, FASTEST IN THE OFFLINE CHANNEL PRM's offline AOV is growing fastest: from PLN 892 to PLN 1,107, up 24.1% YoY. ANSWEAR (PLN) PRM (PLN) PRM maintains a clear price ONLINE OFFLINE ONLINE OFFLINE +24.1% premium over Answear in both 1 107 channels. Offline is more than sales. We 892 are devel
Slide 7: Poland Drives Growth, EU Markets Accelerate
POLAND DRIVES GROWTH, EU MARKETS ACCELERATE POLAND (PLN m) OTHER EU MARKETS (PLN m) NON-EU MARKETS (PLN m) Poland leads growth at +22.1% YoY; its share of Group sales rose 3.5 pp to 31.0%. The result reflects closer customer engagement via the Concept Store and marketing. 24% 28% 28% 31% 51% 47% 47%
Slide 8: The Market Grows, We Grow Faster
THE MARKET GROWS, WE GROW FASTER +6.2 % 9.1 % 22.6 % Total retail sales in Poland, Online share of total retail E-commerce share of the constant prices, June 2026 sales, vs 8.7% a year earlier fashion category, June 2026 FASHION E-COMMERCE, EUROPE (EUR bn) FASHION E-COMMERCE, POLAND (EUR bn) CAGR 20
Slide 9: Tailoring the Offering to Premium Clients
TAILORING THE OFFERING TO PREMIUM CLIENTS
Slide 10: Optimising the Offering and Sales Mix
OPTIMISING THE OFFERING AND SALES MIX Changes in the Answear Group's online sales mix APPAREL (PLN m) SHOES (PLN m) ACCESSORIES (PLN m) We optimise the offering for the premium customer. Our 177,9 +14% +8% 102,5 +13% analysis shows what they look 156,5 91,1 142,8 153,8 for, so we select brands and p
Slide 11: Rebuilding the PRM Offering
REBUILDING THE PRM OFFERING PRM sales mix (category share of segment sales) SHOES APPAREL ACCESSORIES We are gradually repositioning the offering towards high-end 84% -9 pp +7 pp +1 pp fashion. 61% 52% Footwear's share fell to 52% 34% from 84% in 1H 2024; apparel 27% 12% 13% rose to 34% from 12%. 12
Slide 12: Gross Profit Outpacing Sales
GROSS PROFIT OUTPACING SALES
Slide 13: Gross Margin 44.9%, Up 1.3 pp YoY
GROSS MARGIN 44.9%, UP 1.3 PP YOY The improvement reflects brand Gross profit (PLN m) EBITDA (PLN m) selection, work on the offering and terms negotiated with trading partners. +9% Gross profit growth is accelerating: +8.4% in Q1 and +12% 22,1 +12.5% in Q2, against revenue 20,3 growth of 9.3%. 195,8
Slide 14: New Buying Model, Balance Sheet Impact
NEW BUYING MODEL, BALANCE SHEET IMPACT
Slide 15: Improving How We Order
IMPROVING HOW WE ORDER Impact in numbers What the change involves Sales per model-colour* (PLN) Model-colours ('000) Brand selection discipline 1 758 +23% We increase exposure to trending brands and reduce weaker ones. Brand count 1 425 is rising and model-colours are falling, as we refresh the offe
Slide 16: Improved Working Capital Efficiency
IMPROVED WORKING CAPITAL EFFICIENCY Key working capital efficiency indicators Drivers of the improvement Inventory turnover (days) Payables turnover (days) Inventory turnover 34 days shorter 227 Inventory turnover of 193 days vs 227 days a year earlier. This reflects a new 187 193 approach to managi
Slide 17: We Have Headroom for Further Growth
WE HAVE HEADROOM FOR FURTHER GROWTH TOTAL FINANCING LIMITS (PLN m) NET DEBT (PLN m) Total financing limits of PLN 391m: PLN 296m in credit lines and guarantee limits, and PLN 95m in factoring. At the end of 1H, PLN 169m was drawn, plus PLN 24m in guarantees, leaving nearly PLN 190,9 200m of unused l
Slide 18: Optimised Campaign, Lower Cost Ratio
OPTIMISED CAMPAIGN, LOWER COST RATIO
Slide 19: Marketing Costs Growing More Slowly Than Sales
MARKETING COSTS GROWING MORE SLOWLY THAN SALES MARKETING COSTS (PLN m) STRATEGY AND SPEND 118,7 96,2 Marketing spend of PLN 86.0m vs PLN 81.2m a 87,8 86.0 year earlier, up 5.9% YoY, with online sales up 81,2 11.5% YoY. Q3 2026 spend 68,5 63,6 67,9 62,3 The reach campaign in May and June was 51,3 con
Slide 20: SS26 Campaign Fully Online, Traffic Up 13.8%
SS26 CAMPAIGN FULLY ONLINE, TRAFFIC UP 13.8% Impact on website traffic How we ran the campaign Number of sessions (m) Two campaign phases 61,2 +13.8% Awareness built reach and reached new customers; consideration drove traffic to 53,8 +7.4m the website and app. The campaign built on the SS26 season,
Slide 21: We Are on Track to Reduce Marketing Costs
WE ARE ON TRACK TO REDUCE MARKETING COSTS Why marketing costs will fall A new approach to marketing Growing scale lowers the share of fixed costs and reach Balanced mix of brand-building and sales-driving campaigns activities No new market launches in the near term Optimisation across the entire sal
Slide 22: We Have the Reach, Customers and Data
WE HAVE THE REACH, CUSTOMERS AND DATA 2.7m active customers across Number of visits (m) Number of orders (m) 12 markets, up 4.1% YoY. 200.3m visits in 1H, up 21.3% YoY, with 90.3% via mobile devices. The increase in brand +8% awareness is directly visible in 353,8 traffic. +9% 328,8 6,35 Returning c
Slide 23: Consistently Executing Our Strategy to Build the Premium Fashion Leader
CONSISTENTLY EXECUTING OUR STRATEGY TO BUILD THE PREMIUM FASHION LEADER IN CENTRAL AND EASTERN EUROPE “Premium does not begin and end with the product. It is also the way the customer discovers the brand, makes a choice and uses our services.” – Krzysztof Bajołek 23
Slide 24: Delivering on Our Commitments
DELIVERING ON OUR COMMITMENTS Our investment case We are a quality partner for brands, which We have room for further optimisation and All May 2026 commitments delivered or in are deepening their cooperation with us improved results progress May 2026 commitments Status following Q2 2026 Delivered. R
Slide 25: Priorities for 2H
PRIORITIES FOR 2H OFFERING DEVELOPMENT OFFERING DEVELOPMENT • Rebuilding the portfolio towards high-end apparel • Developing a selective high-end offering • Onboarding premium brands • Further optimising and strengthening the apparel category • Optimising inventory for turnover and margin • Continue
Slide 26: Entering 2H with a Lower Base and a Better Offering
ENTERING 2H WITH A LOWER BASE AND A BETTER OFFERING 2025 2026 1H 2025 2H 2025 1H 2026 2H 2026 Growth picked up in Q2: +11.5% Continued growth expected, with Strong sales growth, high base for Weaker half, price competition, marketing savings in Q4 online and a clear margin 2026 record marketing spen
Slide 27: We Are Measured Solely on EBITDA
WE ARE MEASURED SOLELY ON EBITDA EBITDA (PLN m) Programme EBITDA target (PLN m) INCENTIVE PROGRAMME The General Meeting of 30 June EBITDA is the sole criterion 120 2026 removed the average share price criterion. 2025 EBITDA was PLN 56.2m vs the PLN 80m threshold 90 The 2026–2027 programme is assesse
Slide 28: Thank You for Your Time
THANK YOU FOR YOUR TIME CONTACT: investor.relations@answear.com m.kwiatkowski@innervalue.pl 28