Banzai: GMV Up By 25% and Revenues Up By 20% in H1 2016

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Jul 21, 2016, 01:47 ET

MILAN, July 21, 2016 /PRNewswire/ --

Gross Merchandise Volume up by 25.1% YoY in 1H16 to Euro 134.7 million:
- +19.9% YoY total e-Commerce revenue growth to Euro 105.9 million
- +27.8% YoY Revenues from Electronic Goods and Domestic Appliances and +34% for GMV
- Sharp growth in the ePRICE market share of large domestic appliances, supported by the Home Service customised delivery and installation service.
GMV up by 21.6% YoY in 2Q16 to Euro 67.7 million
GMV expected to grow by 25-30% in 2016
Net profit expected for 2016, including the capital gain from the disposal of Banzai Media

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Today, the Board of Directors of Banzai, Italy's first national e-Commerce platform, listed on the STAR segment of the Italian Stock Exchange, has approved the preliminary revenues as at 30 June 2016.

"In the first half of 2016 Banzai confirmed sharp growth in the Gross Merchandise Volume, which represents the value of the goods purchased by our customers, including on the third party marketplace," commented Pietro Scott Jovane, CEO of Banzai. "The initial months of operation of the Home Service platform are showing significant Customer Satisfaction (measured using Net Promoter Score) and growth in market share in the areas we already cover with the service. We expect the growth trend to continue in the second half of the year, in line with the guidance of 25-30% in terms of GMV, due to a further increase in the number of partners operating through the marketplace, the expansion of Home Service's coverage and together with an innovative TV advertising campaign to support the ePrice brand and services. I can also confirm the focus on improving the margin and operating CF, as indicated in the targets set for 2016. As a result of the disposal of Banzai Media, 2016 is expected to close with a net profit."

In 1H16, Banzai revenues came to Euro 105.9 million, + 19.9% YoY net of the Vertical Content division. The GMV grew by 25.1% YoY to Euro 134.7 million. The weight of the Marketplace, launched in 2Q15 represented approximately 8% of the GMV in 1H16. Electronic Goods and Domestic Appliances revenues were Euro 74.3 million, up 27.8% YoY, driven by the expansion of the product range and of "premium" services in addition to the expansion of the Pick&Pay and Lockers network (117 and 290).