Shoper in 2022 - record results for another year in a row

Shoper, owner of Poland's most popular subscription model e-commerce platform, has achieved record financial results in 2022.

In 2022, Shoper achieved its highest-ever revenue, reaching PLN 123.3 million. This represents an increase of as much as 54% over the record year of 2021 for the e-commerce market. In addition, the company recorded its highest ever adjusted EBITDA, reaching PLN 38.6 million, an increase of 24% over the previous year.

- The record financial results are a confirmation of our ability to adapt quickly to new market challenges and seek growth opportunities even during the economic downturn. We have achieved them by consistently investing in the expansion of our product offering and, above all, by actively supporting the development of our vendors. We see further potential for dynamic business growth and improvement of financial results," says Piotr Biczysko, board member for finance at Shoper. - The growth dynamics of all financial parameters is almost copied from the pandemic period, a time that was very kind to the e-commerce market and drove this market, he adds.

GMV of Stores (i.e., the total value of transactions in Shoper's online stores) rose to PLN 7.4 billion, representing a result 29% higher than in 2021. The GMV of Omnichannel (i.e., the value of transactions made in online stores, including turnover in additional sales channels such as shopping platforms and price comparison sites) also showed a strong growth rate, exceeding PLN 8.2 billion, up 28% year-on-year. The growth rate of sales on the Shoper platform in 2022 was significantly higher than the growth rate of the e-commerce market in Poland.

- In 2022, we introduced several hundred new functionalities and dozens of new products to support online sales in Shoper. This is the result of continuous work with customers and listening to their needs. We want them to continue to grow quickly and win the competitive battle. That's why we focused on developing pay-as-you-grow services. The rapid increase in the value of our customers' sales means that we have a good understanding of the changing needs of sellers and buyers," comments Paweł Rybak, Shoper's commercial board member.

Q4 at Shoper at record levels

The fourth quarter of 2022 was also a period of record revenues and adjusted EBITDA. The company's revenue amounted to PLN 36.8 million, up 37% compared to the same period in 2021. Adjusted EBITDA reached PLN 12.8 million, a 39% increase compared to Q4 2021.

Sales of online stores on the Shoper platform (GMV Stores) amounted to PLN 2.2 billion, up 14% year-on-year. Online store sales including turnover in additional sales channels such as shopping platforms and price comparison sites (GMV Omnichannel) reached PLN 2.4 billion, up 16% year-on-year.

Acquisitions and partnerships to strengthen business growth

2022 for Shoper also saw two significant investments related to accelerating the development of digital advertising and multi-channel sales services. The company acquired a controlling stake in SEMPIRE, an online marketing services agency. It also invested in Selium, an agency specializing in multi-channel sales in foreign markets. Shoper also announced business partnerships with Alibaba.com, Microsoft Ads and TikTok.

Development outlook in 2023

The end of 2022 and the beginning of 2023 is filled with optimism. In late December and early January, the company recorded growth in all financial parameters, including showing a 57% increase in adjusted EBITDA in December 2022, or 15% higher Omnichannel GMV in January 2023 relative to the corresponding period. Shoper decided to focus on supporting premium customers (i.e., medium and large enterprises), whose average revenue per customer (ARPU) increased by 38% year-on-year.

- We look to 2023 with optimism. Despite the difficult macroeconomic conditions and lower growth of the e-commerce market than in previous years, we see many possibilities and development opportunities that we want to make good use of. This year, customers are betting on proven brands and market leaders, which puts Shoper in a very good and stable position, " says Marcin Kuśmierz, CEO of Shoper.

Shoper

Shoper is a leading provider of e-commerce solutions in Europe. The Shoper platform provides all the tools needed to launch and develop online sales, including multi-channel and international sales. In addition to software for running an online store, it also offers a range of additional services. These include online payments, Digital Ads, logistics services and business financing. Shoper has been listed on the Warsaw Stock Exchange since July 2021, and has been part of the sWIG80 index since December 2021.