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(Reuters) – Poland’s largest e-commerce platform Allegro mentioned on Thursday it expects earnings to rise 20%-23% year-on-year at residence within the essential vacation quarter, after its third-quarter core revenue topped expectations.
Allegro’s adjusted earnings earlier than curiosity, taxes, depreciation and amortisation (EBITDA) rose 32.4% to 778 million zlotys ($191.7 million) within the Polish market, in comparison with 760 million zlotys anticipated in a company-compiled consensus.
“Whereas Polish shoppers are clearly spending much less on big-ticket objects, they’re spending extra total on Allegro than a yr in the past,” CEO Roy Perticucci mentioned in a press launch.
Perticucci added Allegro was engaged on launches in Slovakia, Hungary, Slovenia, and Croatia for subsequent yr, after launching its market in Czech Republic this yr.
Gross merchandise worth (GMV), an trade metric used to measure transaction volumes, rose in Poland by 10.5% to 13.3 billion zlotys within the reporting quarter.
The corporate mentioned it expects GMV to develop 9%-11% within the fourth quarter.
The variety of energetic consumers in Poland grew for a sixth consecutive quarter to 14.5 million, it added.
Allegro, thought of the go-to on-line purchasing platform in Poland, mentioned its residence operations returned to low double digit development within the first weeks of the fourth quarter, after a dip on the finish of the earlier quarter.
It added that its Black Week marketing campaign has acquired off to a “stable begin”.
($1 = 4.0587 zlotys)
(Reporting by Anna Pruchnicka; Modifying by Kim Coghill and Varun H Ok)
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