AO World has
reported its interim results for the half year for 30 September 2014 which saw
its website revenues increase by 38.6 per cent to £173.7 million compared to
the same period last year and total revenues up by 25.1 per cent to £217.1
million. During the period it completed 610,000 orders (up from 470,000).
The business launched its German website on 1st October and made its
first customer deliveries on 14th October.
Commenting, John
Roberts, Chief Executive Officer said: “I am pleased to report another period
of strong trading in the UK. AO.com sales are up by 38.6 per cent as our brand
recognition grows and we continue to make our customers happy. Overall sales
are up by 25.1 per cent, in line with expectations. Adjusted EBITDA has also
seen a significant jump, increasing more than two-fold in the first six months
compared to last year, reflecting our ability to deliver profitable sales
growth.
“The UK growth was
delivered at the same time as management resource was also focused on launching
our proposition in Germany, which we achieved in October some six months
earlier than promised. This launch has given us confidence in our ability to
replicate our model overseas. While this accelerated investment has
brought forward our associated set-up costs for the period, our focus is on the
long-term as we proceed with our strategy to deliver a market-leading
proposition in new categories and countries. Although Germany has only been
operating a number of weeks, we are delighted with the way our culture has
transferred, with the way it’s operating and with the way sales are building.
Trading for the second half of this financial year has started well. We
have recently launched consumer finance in the UK allowing us to reach a wider
range of customers and we continue to broaden our service proposition and
product range. We remain confident of meeting full year expectations and are
well positioned as we move into our peak trading period.”
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