Investor Presentaiton
Q4 2022
1,507.4
1,424.1
-5.5%
Mall Segment
Mall 1P business turnaround in progress, with Q2-Q4 2022 results
in line with expectations
Mall Segment results
Income Statement
PLN m (unaudited)
GMV
% YoY
Q4 2021
pro-forma¹
Q2-Q4 2021
pro-forma¹
Q2-Q4 2022
3,185.5
3,107.0
of which 3P
207.2
241.9
377.2
490.6
% YoY
16.8%
+30.1%
•
of which 1P
1,300.2
1,182.2
2,808.3
2,616.3
% YoY
-9.1%
-6.8%
Revenue
1,150.9
1,060.6
2,503.6
2,365.8
% YoY
-7.9%
-5.5%
EBITDA
-26.1
-55.6
-88.8
-198.3
Adjusted EBITDA
-10.0
-39.4
-55.4
-156.8
Capex
19.2
28.8
59.4
60.2
-2.5%
•
Adjusted EBITDA loss seasonally lower in Q4 (down to
-PLN 39.4m in Q4'22 vs -PLN 50m in Q3'22 and
-PLN 67m in Q2'22)
Q4 EBITDA adjustments reflect integration costs,
retention bonuses, AIP for Mall key employees and
restructuring provisions
Revenue decline reflects lower 1P GMV with falling
consumer discretionary spending across the Mall
Segment
3P GMV increased by 16.8% YoY in Q4'22, reaching
nearly 17% share
Progress in top sellers availability and price
competitiveness in Mall's 1P business along with focus
on costs
Improving inventory management with 6 days lower
YoY inventory days outstanding and released
PLN 130m in working capital
1. Historical GMV data for Mall based on pro-forma for the same organizational structure as acquired by the Group
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