Active users exceed 3 million! Kogan Australia's sales have grown for five consecutive years

Recently, Australian e-commerce platform Kogan released its performance report for the year ending June 30, 2021. The report data shows that its sales and earnings in fiscal 2021 have achieved five consecutive years of growth. On another level, Kogan 's performance after listing is still gratifying.

Financial report data shows that in 2021, its total sales increased by 52% compared with 2020, reaching US$1.17 billion. It is worth noting that its revenue increased by more than 56% and its gross profit increased by more than 60% . Such a large increase in gross profit is probably the envy of many companies in the cross-border circle .

Not only are sales and profits soaring, but its active users are also growing. Survey data shows that in the 12 months ending June 30, 2021, Kogan 's website active customers soared 46% to more than 3 million , and it is not difficult to see where Kogan 's performance comes from. As far as independent sites are concerned, Kogan 's active users are very gratifying, after all, users are sales.

In fact, as early as the end of 2020, Kogan predicted that consumers would continue to have high demand for its products in the first half of 2021, and thus increased investment in related inventory. However, this demand did not meet the company's tone, which led to Kogan's excessive inventory, which is likely to affect its performance.

Kogan said that it can only focus on carrying out relevant promotional activities in the second half of 2021 to clear excess inventory. In addition, due to various factors, the storage costs of inventory are also increasing. The current inventory costs have reached US$228.1 million, which will have a great impact on its performance in the second half of 2021.

However, Kogan said the recent acquisition of New Zealand online retail business Mighty Ape had helped to offset the huge losses caused by high inventory costs by increasing its total EBITDA (earnings before interest, tax, depreciation and amortisation) by 23 per cent to $61.1 million this year, in line with the company's expectations .

In the future, Kogan will continue to increase investment in its online business to drive continued growth in its performance. I hope Kogan will achieve good results in the future.

Australia

Kogan

Performance