Online electrical retailer AO's revenue reaches 1.91 billion euros, up more than 62%

The British online electrical appliances company's revenue rose 62% to £1.66 billion (€1.91 billion) in the year to March 31, the company said .

The retailer’s electricals website AO .com ranked in the top 100 in the RXUK Top500 research , making it a hot electricals retailer . Group sales rose 62% to £ 1.66 billion in the year to March 31. Sales on the company’s UK website AO .com were up 88% from the fourth quarter of last year, when much of the country was still in a tier 3 lockdown. Its German business AO .de reported a 77% increase in full-year sales and is expected to be profitable this financial year.

The company added: "Our German business achieved operating margins in the third quarter and is expected to generate a profit for the current year." It is understood that AO 's peak pre-tax profit before one-off costs is expected to be between £63 million and £72 million, up from £19.6 million a year ago.

Founder and CEO John Roberts said: “The past twelve months have been unparalleled and we are proud to have risen to the challenge by enabling customers to access essential appliances and technology products to keep them going through life through AO .

Moreover, AO attracted more than 2 million new customers in the year. AO hopes that more customers will continue to buy electrical appliances online in the long term. It is reported that customer satisfaction measured by the promoter net score is more than 80. AO has impressed millions of customers with the services it provides to its customers.

AO expects AO Group EBITDA to be between €72 and €83 million, compared to €22.5 million in the previous year. EBITDA is expected to more than triple this year . Roberts added: "I expect that we will continue to see double-digit growth in the coming year, even now, given the strong comparisons we have seen compared to last year."

It is reported that as the company expands its production capacity, it has added warehousing and personnel to support the increase in business. This year, AO will continue to grow and expand infrastructure investment and company scale.

AO

U.K.

Electrical appliances