Shoper: adjusted EBITDA up 41%

Shoper, the most popular SaaS online store provider in Poland, grew at a rapid double-digit rate in Q1 2023. Revenues and adjusted EBITDA grew 33% and 41%, respectively.

The first quarter of 2023 was very successful for Shoper. Key business metrics such as revenue, adjusted EBITDA and GMV again recorded record levels.

The company's revenue during the period increased by 33%, reaching PLN 35.1 million. The company also recorded dynamic growth in adjusted EBITDA, which amounted to as much as PLN 11.4 million in Q1 2023, a 41% increase over the same period last year. As a result, Shoper's profitability increased by 1.7 p.p., reaching 32.4%.

- We have a very good quarter behind us, which allows us to look at the whole of 2023 with optimism. We are pleased with the results achieved, which were mainly driven by rapid business growth and effective management of the cost layer. We are focused on continuing to support the growth of our customers, who are doing well in the challenging economic environment," comments Piotr Biczysko, Shoper's chief financial officer (CFO).

Retailers using the Shoper platform also had a successful start to the year. The total value of transactions in Shoper's online stores(GMV Stores) increased by 14% in the first three months of this year to PLN 1.92 billion. The total value of sales in online stores, augmented by additional sales channels such as shopping platforms and price comparison sites(GMV Omnichannel), also increased. It exceeded PLN 2.1 billion, 15% more than in the same period last year.

Although the growth rate of the overall e-commerce market is not high, with the CSO reporting declines in the retail segment (-3.5% y-o-y in January-March), merchants using the Shoper platform are selling more and more. This is evidenced by the growing take rate (commission on sales), which in the first quarter of 2023 alone was 1.83%, 0.26 p.p. higher than in the same period last year.

Unique partnerships will support Shopper customers to increase sales

Shoper introduced dozens of new functionalities and services in Q1 2023, and established important partnerships. In January, the company boasted the launch of a partnership with Microsoft for cutting-edge advertising products. And in March, Shoper announced a partnership with eMAG Marketplace to facilitate cross-border sales for the company's customers.

Artificial intelligence enters e-commerce

Shoper at the beginning of the second quarter of 2023, in cooperation with Apilo , made available to customers a new application "AI Descriptions," which uses artificial intelligence to generate descriptions of products sold online not only for the online store, but also for other sales channels. The tool is available to sellers operating on the Shoper platform and all Apilo customers. The application is part of Shoper's drive for innovative solutions, and thanks to the use of artificial intelligence, it allows even more efficient management of product offerings.

- We are not afraid to go outside the box and always strive to stay one step ahead of the competition. That's why we were the first in the market to make extensive use of ChatGPT to provide even more effective tools for sales management and product promotion. In addition to just looking at artificial intelligence - we decided to take advantage of it and unleash its full potential for all sellers in Poland," comments Paweł Rybak, Shoper Commercial Officer (CCO).

Shoper

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. Among others, brands such as Gym Glamour, WK Dzik, Irving and Doppelherz 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