The Otto Group has delivered a decisive turnaround in the 2024/25 financial year, ending 28 February 2025, stabilising revenues and significantly increasing profitability across the board. Under the new leadership of CEO and Executive Board Chairwoman Petra Scharner-Wolff, the international retail and services group has charted a new strategic course aimed at long-term growth and financial resilience.
© Viktor Schanz | Otto Group
CEO and Executive Board Chairwoman of Otto Group, Petra Scharner-Wolff.
Despite persistent geopolitical tension and weak consumer sentiment, particularly in Germany, the Group reported Earnings Before Interest and Tax (EBIT) of €276 million—up from €8 million in the previous year. Revenues remained steady at just under €15 billion, with a slight increase on a comparable basis.
'Despite the continuing and extremely tense geopolitical environment and the gloomy consumer sentiment we are still experiencing especially in Germany, our clear focus has enabled us to succeed not only in keeping revenues stable, but also in bringing the Otto Group clearly into the black at all earnings levels. We have faced up to the challenges of the market and coped with them very well. Of course, we are satisfied with what we have achieved over the past financial year. This has further increased our financial stability and now allows us to look forward with a degree of optimism,' said Scharner-Wolff.
Segment performance was mixed. The Platforms segment, home to e-commerce leaders OTTO and About You, saw a 4.7% rise in IFRS sales to over €6.5 billion. OTTO's Gross Merchandise Value (GMV) climbed by 9% to exceed €7 billion, with the number of active customers growing to 12.2 million. About You increased revenues by 3.6% to €2 billion.
In contrast, the Brand Concepts segment, which includes Bonprix, Witt Group and Crate and Barrel, saw a 3.3% decline in revenue to €5.1 billion. Bonprix was affected by challenges in the U.S. market, while the Witt Group grew by 5.1%. Crate and Barrel remained stable and achieved the best result in its history.
Retailers, including Limango and the Baur Group, experienced a 4% decline to €1.7 billion, largely due to the discontinuation of Mytoys and Unigro. However, Limango reported a positive trajectory. The Services segment grew 12% to €419 million, driven by increased parcel volumes. Financial Services, led by the EOS Group, posted a 5.8% revenue rise to nearly €1.1 billion, maintaining high profitability.
EBITDA rose from €741 million to €916 million. Net profit for the year was €165 million, and net financial debt was reduced by €579 million, improving the dynamic gearing ratio from 2.0 to 1.3. The equity ratio increased to 36%.
Scharner-Wolff commented: 'Our business figures are a clear indication of the Otto Group's resilience and stability. We have been able to impressively demonstrate our ability to take action, even in the past, crisis-ridden years, and we are now in an excellent position to face up to the challenges ahead of us and shape our future with sustainable success.'
The Group has adopted a new strategic agenda to ensure future viability. The focus will be on scalable core business models such as OTTO, Crate and Barrel, and EOS, with ambitions to grow both revenue and profitability by 2030. International expansion, particularly in Europe and North America, and investments in logistics, technology and GenAI integration will underpin this effort.
'Our overarching goal is to return to strong growth in both the medium and long terms while pursuing our new strategy, to vigorously seize new opportunities and to position the Otto Group to ensure its lasting future,' said Scharner-Wolff. 'We are going to stay true to our values. We are going to hold our course.'
More information:
Otto Group
www.ottogroup.com