Australian online luxury marketplace Cettire has reported $329 million in year-to-date (YTD) sales revenue for the financial year.
CEO Dean Mintz said the business is growing at a faster rate in the second half compared to H1 FY23.
YTD FY23 adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) for the first ten months was at least $23.7 million.
EBITDA for the four months ending April 30 was at least $7 million. This is on a delivered margin of greater than 20%, with marketing investment (including brand investment) being in the “high single-digits per cent” of sales revenue.
Cettire’s net cash balance was approximately $39 million at 30 April, reflecting the settlement of trade payables from the seasonally larger December quarter.
April monthly sales revenue increased by approximately 160% year-on-year, with Cettire citing an acceleration on the growth achieved in Q3 FY23.
The company expects to maintain monthly growth rates at least at this level through the balance of FY23.
“Cettire continues to demonstrate exceptional operating momentum, with revenue growing at a faster rate than in H1 FY23,” Mintz said.
"It is particularly pleasing to see the Company’s localisation strategy is delivering results, with revenue from its emerging markets outpacing the Group.
"The revenue growth acceleration in April was underpinned by further growth in repeat customer revenue and an acceleration in growth in active customers.
"Cettire is rapidly growing share in a large and growing global market, which benefits from the structural shift to online.”