Shoper: adjusted EBITDA again with record growth

Shoper, the most popular e-commerce platform for running online stores, has released record results for Q2 and H1 2023. The company reported double-digit increases in all key indicators.

In the second quarter of 2023, Shoper's revenue reached PLN 36.4 million, up 27% year-on-year. Adjusted EBITDA amounted to PLN 12 million, up as much as 41% year-on-year. The value of sales in Shoper's online stores amounted to PLN 2 billion in the second quarter (GMV Stores), and increased by other sales channels amounted to nearly PLN 2.2 billion (GMV Omnichannel). Both indicators improved by 10 and 11%, respectively, compared to the second quarter of 2022.

In the entire first six months of 2023, financial results grew even faster. Compared to the first six months of 2022 , revenues increased by 30% and amounted to PLN 71.5 million. Adjusted EBITDA also grew dynamically, with annual growth exceeding 41% and amounting to PLN 23.4 million.

Shoper once again presented record financial results, despite an unfavorable macroeconomic environment, such as rising corporate operating costs and high inflation, which negatively affected consumer behavior, reducing their purchasing power.

- We are pleased with the results of the second quarter and the first half of 2023. This confirms the ability of our company to cope with difficult market conditions. - comments on the results Piotr Biczysko, member of the board of directors for Shoper's financial affairs - Our priorities remain to support the growth of our customers, effectively manage costs and continue business development. We can already see that these measures will have a positive impact on the third quarter of this year. The results of the first two months of the next half-year fill us with optimism. - He adds.

Successful start to third quarter for Shoper company

The company also released selected business metrics for July and August 2023. During this period, revenues generated by Shoper were 20% higher compared to the same months in 2022, and adjusted EBITDA increased by as much as 31%. The company also recorded higher turnover in online stores using the Shoper platform - the GMV Stores indicator improved by 13%.

Key partnerships and technology development of the platform

In the first half of 2023, Shoper established partnerships with such technology and sales giants as Microsoft, Amazon, eMAG and Klarna. The company continues to emphasize the important role of digital advertising and international operations in the development of e-businesses. The company has also opened a new office in Bydgoszcz to develop its support in the area of online marketing. Shoper has also introduced many new services, including applications using artificial intelligence, such as AI Descriptions within the Apilo tool.

- New services and key partnerships in rapidly growing segments such as payments, logistics and Omnichannel, are the result of our observation of the market and careful listening to the needs of our merchants," says Paweł Rybak, member of Shoper's commercial management board. " Aiming to provide a competitive advantage to our customers, we are constantly looking for effective solutions and we establish global partnershipsthat help them grow rapidly," he explains.

In the presentation, posted on Shoper's investor relations site, the company's management outlined new key projects, including a new online storefront and the development of financial services with another partner. In addition, investors were briefed on the ongoing development of Shoper's own brokerage service.

Shoper financial results achieved in the second quarter of 2023

About the Shoper Company

Shoper is a leader in e-commerce solutions in Poland. The company provides the necessary infrastructure for e-commerce. In addition to software for running an online store, it also offers a range of services to support sales. These include online payments, Digital Ads, logistics services and business financing. Brands such as Gym Glamour, Paprocki&Brzozowski, WK Dzik, Irving and Doppelherz, among others, operate on the Shoper platform. Shoper has been listed on the Warsaw Stock Exchange since July 2021 and has been part of the sWIG80 index since December 2021. Check out more information about the company at: www.shoper.pl