1 Allegro has included certain alternative performance measures in this Press release that are not measures defined within the International Financial Reporting Standards. Definitions of alternative performance measures used by Allegro can be found in the Group’s annual management report, page 13, available here.
Our focus on growth and cost discipline is starting to deliver benefits. We maintained GMV growth and improved margins in the Polish business, getting the year off to a strong start, but the macro situation is still very challenging. Allegro’s expanding offer and great value-for-money proposition continue to draw more and more clients - both buyers and merchants - while we make progress on translating growing GMV and revenue into better margins. It is great to see that consumers are turning to Allegro to make their money go further. Another key goal is the growth of Allegro.cz, which will take some time to offset the declining legacy GMV at MALL. As in most Central European countries outside of Poland, Czech shoppers are not yet familiar with online marketplaces. We intend to learn a lot from this first deployment in order to develop a playbook to enter new markets within the Mall footprint more rapidly in the future.”
Roy Perticucci, Allegro CEO
Adjusted EBITDA growth of 29.7% from the Polish operations helped Allegro deleverage further to 2.8x by the end of March. Our Fit to Grow savings programme got up to full speed in Q1 and Allegro made progress on efficiency and cash flow generation. Having recently reached the milestone of starting Allegro.cz’s marketplace operations in Czechia, we intend to proceed systematically from here to roll out our geographical coverage and accelerate the group’s consolidated GMV growth rate over the medium term. Consumers everywhere face many challenges, but we believe that Allegro’s offer is the right answer for those looking for the most cost-efficient and convenient place to shop online.”
Jon Eastick, Allegro CFO
ABOUT ALLEGRO: Founded in Poland over 20 years ago, Allegro now operates a leading online marketplace across Central and Eastern Europe, aiming to establish itself as the go-to online shop for European consumers. Based in Luxembourg and listed on the Warsaw Stock Exchange, the platform connects millions of buyers with thousands of merchants who provide hundreds of millions of offers. Having established itself as an economic lifeline for all customers during the pandemic, the company solidified its status as the most convenient shopping platform in times of inflation. Allegro’s marketplace model rests mostly on facilitating sales of mainly new products by merchants, particularly via a business-to-customer model, giving European consumers easy access to offers spanning a variety of categories which include electronics; home and garden; sports and leisure; kids; automotive; fashion and shoes; health and beauty; books; media; collectables, and art.