Global Fashion Group Shows Promising Turnaround

Global Fashion Group S.A. has released its FY25 annual report, demonstrating significant operational improvement. The company reported its first positive adjusted EBITDA, recording €9.3 million, surpassing both last year's loss and prior estimates. Despite a 4% decline in active customers to 7.3 million, the group’s net merchandise value (NMV) rose 0.3% year-on-year to €1,042 million, thanks to increased order frequency and average order value.

ANZ and LATAM segments witnessed mid single-digit NMV growth, offsetting challenges in the SEA region, which saw a 14% drop in active customers. Nevertheless, strategic initiatives in SEA are aimed at achieving profitable growth soon. For FY26, GFG anticipates NMV growth ranging from -4% to +4% and expects adjusted EBITDA to improve further to between €15-25 million.

The company launched a share buyback program worth €3 million, highlighting confidence in its ongoing turnaround. Expectations remain optimistic, with a BUY recommendation reaffirmed and the price target slightly raised to €1.00.