SIGNA Sports United (SSU), a leading sports e-commerce and technology provider, has reported financial results for the fiscal fourth quarter and year ended September 30, 2021. The company saw a 10% net revenue uplift to €247 million in its fiscal Q4, although sales were dampened by supply constraints in the bike category.
Full fiscal year fiscal sales grew 24% to reach €872 million. In its latest reporting, the company confirmed that it closed the acquisition of WiggleCRC on December 14.
Stephan Zoll, CEO of SSU, said, “We are thrilled to begin our journey as a public company and are looking forward to the opportunity ahead of us. The company is well positioned to execute on our organic strategy as well as take advantage of attractive M&A opportunities.
“In addition to our public market debut, closing the acquisitions of WiggleCRC and Tennis Express mark key milestones in our strategy.”
In its fiscal fourth quarter, SSU stated that it has… ‘continued to benefit from resilient consumer demand across its fast-growing verticals. The company achieved 10% net revenue growth despite supply constraints and net revenue growth of 19% when excluding full-bike sales. For the full FY 2021, net revenue increased 24%. When excluding full-bike sales, FY 2021 net revenue growth was 31%.’
Stephan Zoll continued, “Our teams executed extremely well against our stated strategy, delivering double-digit organic growth and compensating for industry-wide supply shortages in the bike vertical, which dampened our top-line results.
“We leveraged our broad assortment and inventory position to profitably drive strong organic growth in key geographies. The recently closed combination with Yucaipa and WiggleCRC, put us in a unique position to globally scale and expand our offerings in 2022.”
Alex Johnstone, the company’s CFO, said “SSU’s results in the fiscal fourth quarter are testament to the strength of our model; we drove double-digit revenue growth whilst experiencing supply constraints in the full-bike category.
“The strong demand across all our verticals allowed us to expand gross margins while investing in targeted customer growth. Pro forma for the announced acquisitions, we exceeded guidance for both FY 2021 net revenue and adjusted EBITDA.”
