Banzai: Board of Directors Approves 1H 2015 Preliminary Revenues

MILAN, July 21, 2015 /PRNewswire/ --

• 2Q15 revenues show accelerating growth of +25% (EUR50.0 million vs EUR39.9 million in 2Q14) compared with +14% in 2Q14 vs. 2Q13, and compared with +20% in 1Q15 vs. 1Q14 
  • +29% e-Commerce revenues growth, with a strong acceleration compared to 1Q15 (+21%)
  • Encouraging development of 3P marketplace, with 200 merchants target active on the platform achieved
  • +34% e-Commerce core^[1] categories revenues growth compared to +26% in 1Q15

• 1H15 revenues growth of +23% (EUR99.7 million vs EUR81.2 million in 1H14) compared to +13%^[2] growth recorded in 1H14 vs. 1H13
  • +25% e-Commerce revenues growth (EUR88.3 million vs EUR70.6 million in 1H14)
  • +8% Vertical Content revenues growth (EUR11.4 million vs EUR10.6 million in 1H14)
  • +30% e-Commerce core^[1] categories revenues growth compared to +16%^[3] in 1H14

• FY2015 Outlook confirmed: revenue growth of around 25%, in line with consensus^[4]

The Board of Directors of Banzai, the number one Italian e-Commerce platform and one of the largest Italian digital publishers, listed on STAR segment of Italian Stock Market, today approved preliminary revenues as at 30 June 2015.

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Paolo Ainio, Chairman and CEO of Banzai: "Second quarter results are very encouraging: the Group continues to outperform the market and increase e-Commerce market share, by growing in higher average ticket categories (home appliances and electronics), 3P Marketplace (with 200 merchants target achieved) and expanding the Pick&Pay and Lockers distribution network. Three months after the launch of Vico42 - the e-Commerce site dedicated to men - we broadened our offering with Mami.it, the new private sales e-shop dedicated to "moms&kids".

2Q 2015 preliminary revenues 

2Q15 confirms the positive effects of the growth strategy announced at IPO: total revenues were EUR50.0 million, up 25% on EUR39.9 million recorded in 2Q14. It is worth highlighting the +34% growth in e-Commerce core categories, which show a strong acceleration compared to 1Q15 (+26%). We also experienced a continued development of 3P marketplace, achieving the 200 target active merchants on the platform.

1H 2015 preliminary revenues 

Revenues were EUR99.7 million, +23% compared to EUR81.2 million in 1H14.

With revenues of EUR88.3 million and growing 25% yoy, the e-Commerce division is the main growth driver of the Group; the Vertical Content division recorded a growth of 8% with revenues of EUR11.4 million. Banzai over-performed in the context of e-Commerce and digital advertising in Italy and has therefore increased its market share.

Within e-Commerce, our core categories (electronics and appliances, apparel & other) grew by 30%. In particular, revenues from "Electronics and Appliances" amounted to EUR58.1 million, a 35% increase primarily due to the expansion of products range and the development of "premium" services (delivery, installation and used goods collection), in addition to the development of Pick&Pay and Lockers distribution network which stand at 80 and 162 respectively as at 30 June 2015 (70 and 100 respectively as at 31 March 2015).

The underlying KPIs show a similar trend: GMV grew 33% thanks to the good performance of 3P marketplace volumes generated in the period, number of orders grew 26% to 681 thousands, AOV grew 5% to EUR130 and number of buyers grew 26% to 372 thousands.

Also the Vertical Content division recorded an improvement in KPIs: Audiweb reported 18.2 million Unique Monthly Visitors, with an increase of 4% yoy; Time Spent per Unique Monthly Visitor was 25 minutes, +20%, with an Active Reach of 63.1% (62% in 1H14).

This press release is an abstract; the original version is available on the websites http://www.banzai.it and http://www.1info.it 

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1. Include product revenues excluding revenues from deliveries and other services.
2. Organic growth excluding revenues from the acquisition of Terashop business unit.
3. Organic growth excluding revenue from the acquisition of the Terashop business unit.
4. Source: S&P Capital IQ.