YNAP sees core profit margin up this year, after 2016 EBITDA rose 17 pct
MILAN, March 1 Luxury online retailer Yoox Net-A-Porter (YNAP) said on Wednesday its expects its adjusted core profit margin to keep rising this year, after reporting core profit was up 17 percent in 2016 with respect to the previous year.
YNAP said that adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) rose to 156 million last year, just above analysts' expectation of 154 million euros.
"In 2016 YNAP consolidated its leading position with a robust performance and growth in profitability," said Chief Executive Federico Marchetti in a statement.
The group said its adjusted net income was 69 million euros, up 16 percent with respect to last year.
Last month YNAP said revenues in 2016 were up 17.7 percent at constant exchange rates, slightly below an average analyst estimate, but added that average monthly unique visitors and total orders were up with respect to 2015. (Reporting by Giulia Segreti; editing by Francesca Landini)
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