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Zooplus is becoming more and more profitable in the corona crisis – Grand City Properties confirms annual target

The first half of the year is a record-breaking one for the pet supplies retailer Zooplus: The company has made significant leaps in both sales and operating profit. The real estate group Grand City Properties, which is primarily active in North Rhine-Westphalia and Berlin, has also come through the Corona crisis well so far. The company confirms the annual target.

First things first about Zooplus and Grand City Properties:

  • Zooplus with profit increase in the first half of the year
  • Grand City Properties confirms annual targets

The coronavirus pandemic is proving to be a real growth driver for Zooplus. According to its own information, the pet supplies retailer recorded significant leaps in sales and operating profit in the first half of the year. The second quarter stands out. The company reaffirmed the annual targets, which had already been raised.

Products on Zooplus

As announced by Zooplus, the revenue in the first six months of 2020 was 862 million euros. That is almost a fifth more than a year ago. At the same time, the operating result (EBITDA) climbed from January to the end of June compared to the same period of the previous year to 29.4 million euros from 4.5 million euros. The driver turned out to be the second quarter, in which the lockdown measures in connection with the Covid-19 pandemic had fallen and pushed online trading: EBITDA had increased to 21.3 million from 2.3 million euros in this period . For the year as a whole, Zooplus reiterated its already raised forecasts. They envisage an increase in revenues from 240 million to 1.765 billion euros. The company expects EBITDA to be at least 40 million euros.

The residential real estate group Grand City Properties (GCP) only expects the ongoing coronavirus pandemic to have a limited impact on its own business. The company is nevertheless cautiously optimistic – despite growth in the first half of the year. The company reaffirmed its full-year outlook.

Products on Grand City Properties S.A.

As GCP announced, the decisive operating result for the industry in the first six months of 2020 was 108 million euros. This represents an increase of two percent compared to the same period in the previous year. In the first quarter the increase was still five percent. The operating result is important in the industry because it shows how much money the company has left from ongoing business after deducting interest payments and taxes. “Despite many challenges, GCP has come out even stronger in the last few months,” said CEO Christian Windfuhr. He is therefore confident of achieving the annual targets: According to the information, GCP is forecasting a value between 213 million and 220 million euros for the operating result.

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Source: HSBC

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