Global Fashion Group (GLFGF) Q2 2026 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning everyone and welcome to Global Fashion Group's Q2 and H1 2026 results presentation. I'm Christoph Barchewitz, CEO of GFG and I'm joined today by our CFO, Helen Hickman. I will start with highlights for today and then share an update on progress we are making across the business. Helen will then take you through the regional and group financial results and our guidance for the full year. After that, we will open the call for questions. Overall, we are executing on our strategy and delivering financial results in line with our expectations and guidance. We've continued to improve our unit economics with sales and profit per customer and per order growing strongly, creating the foundation for profitable growth. We've made significant progress in enhancing our delivery proposition, strengthening our marketplace, and scaling our platform services offering. While today's focus will be on fulfilled buy, our platform services also continue to grow, driven by retail media across all three regions in our single stock solution in Southeast Asia. Combined with the integration of AI across our business, initiatives across these areas continue to strengthen our customer value proposition and profitable growth strategy. I'll be sharing more detail on these topics in a moment. On financial results, we delivered our first profitable H1 with our current footprint. For the LTN period to June, adjusted EBITDA improved by a strong 23 million euros year over year and normalized pre-cash flow by 28 million euros. Lastly, we have narrowed our 2026 guidance to take account of H1 results and our current expectations for H2. For NMV, we now expect a year-over-year change of negative 4 to 0%. For adjusted EBITDA, we now expect a range of 18 to 25 million euros. Helen will explain t...