Banzai: Board of Directors Approves Preliminary 9M 2015 Revenues

MILAN, Oct. 30, 2015 /PRNewswire/ --

• +34.4% revenue growth in 3Q15 (Euro 52.5 million vs Euro 39.1 million in 3Q14) accelerating significantly against previous quarters (25.4% in 2Q15 and 20.5% in 1Q15) as a result of the performance of all business lines and the peak in sales of air conditioners  
  • +35.8% e-Commerce revenues accelerating versus +25%YoY in 1H15, driven by core categories (+42.2%YoY in 3Q15 versus +30% YoY in 1H15)
  • +46.5% revenue growth of GMV driven by the development of the 3P marketplace;
  • +22.0% revenue growth of Vertical Content versus +8% YoY in 1H15

• +26.6% revenue growth in 9M15 versus 9M14 (Euro 152.3 million vs Euro 120.3 million in 9M14) 
  • +28.7% e-Commerce revenue growth (Euro 136.2 million vs Euro 105.8 million in 9M14), +34.1% of which from e-Commerce core categories^[1]
  • +11.5% Vertical Content revenue growth (Euro 16.1 million vs Euro 14.4 million in 9M14)

• Outlook FY2015 confirmed: revenue growth by about 25% in line with consensus 

Today, the Board of Directors of Banzai, Italy's first domestic e-Commerce platform and one of the leading Italian digital publishers, listed on the STAR segment of the Italian Stock Exchange, has approved the preliminary revenues as at 30 September 2015.

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Paolo Ainio, Chairman and Chief Executive Officer at Banzai, said: "Also in the third quarter, Banzai outperforms the market and expands its market share in the e-Commerce business thanks to the development of high-ticket categories (domestic appliances and electronic goods), the "3P Marketplace" and the distribution network of Pick & Pay and Lockers. The revenue trend shows an extraordinary growth, above the average expected for this year, also taking into account the one-off effect related to the sales of air conditioners. The growth target is confirmed in line with consensus.

"I am glad to welcome Pietro Scott Jovane: Banzai can count on the input of this excellent and highly regarded manager who has always been familiar with the digital world and has covered some outstanding professional roles in the last few years. As main shareholder and Executive Chairman, I will remain highly involved, as well as committed to long-term growth of the Company." 

The 3Q15 confirms the positive effects of the growth strategy announced at the IPO: revenues amount to Euro 52.5 million with a +34.4% versus Euro 39.1 million in 3Q14. Particularly relevant is the 42.2% growth YoY in the e-Commerce core categories, which show a further acceleration compared with the previous quarters (+33.7% in 2Q15 and +26.4% in 1Q15), also driven by the stronger-than-expected demand for air conditioners during the summer. During the quarter, we experienced a development of the 3P marketplace, which contributed to a further increase in GMV growth equal to Euro 59.7 million, up 46.5% over 3Q14.

Preliminary revenues as at 30 September 2015 

In 9M15 revenues were Euro 152.3 million, +26.6% compared to Euro 120.3 million in 9M14. With revenues of Euro 136.2 million in 9M15, growing by 28.7% versus 9M14, the e-Commerce division is the main growth driver of the Group, also driven by core categories^[1]. The Vertical Content with revenues of 16.1 million euro sales grew 11.5% in 9M15 over 9M14, accelerating in 3Q15 compared with the previous quarters (+22% against 3Q14). As a whole, Banzai reported a better performance compared with its competitors on the e-commerce and the digital advertising domestic markets, therefore further expanding its market share.