Made.com navigates supply chain disruption to deliver strong HY results
Online furniture retailer Made.com reports £214 million gross sales for the first half of 2021, representing 54% year-on-year growth.
Revenue stood at £171 million, +61% YoY, with Q2 revenue of £89 million, +84% YoY.
At the same time, however, loss before tax was £10.1 million, a 34% improvement on the first half of 2020 when Made.com lost £15.2 million. EBITDA climbed from a loss of £11.1 million last year to a gain of £1.1 million in H1 of 2021.
Highlights include making “encouraging progress” on the beta testing of a curated marketplace.
The pureplay nearly doubled its UK large goods warehouse, with the delivery of an additional 172,000 sqft of space during August.
A letter of intent has also been signed to extend warehousing space at an existing site in Antwerp, servicing European customers.
“I am very pleased with the progress made in the first half of the year, which is in line with the long-term goals set out at our IPO in June,” says CEO Philippe Chainieux.
“We have continued to see strong and sustained consumer demand for our exclusive, design led products and have gained significant market share with growth in all eight of our markets.”
He adds: “Thanks to our agile business model and supplier relationships, we are well positioned to navigate the industry wide global supply chain disruption, which is expected to continue into the first half of next year.”
“We have multiple levers to drive superior growth and will continue to strengthen our model through the ongoing implementation of our strategy: to invest in our unique customer proposition through further developing our curated, design led range, enhancing customer experience, investing in our brand and expanding internationally.”
He concludes: “I am confident in the outlook for the full year and in Made’s long-term growth.”
