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BRIEF-Kinnevik says Global Fashion Group makes smaller Q1 loss
May 24, 2017 / 5:12 AM / 5 months ago

BRIEF-Kinnevik says Global Fashion Group makes smaller Q1 loss

May 24 (Reuters) - Kinnevik AB

* Kinnevik says Global Fashion Group delivered net merchandise value (nmv) of eur 271.7 million representing growth of 35.2 pct in euro terms and 16.9 pct on a constant currency and pro-forma basis in Q1

* Kinnevik says GFG Q1 adjusted EBITDA margin showed a year-over-year improvement of 11.1 percentage points to reach an adjusted EBITDA margin of (12.5) pct for q1 2017 and reduced losses by nearly 30 pct.

* Kinnevik says total net revenue of GFG for the quarter was eur 265.3 million

* Kinnevik says GFG adjusted EBITDA loss reduced from eur 46.5m to eur 33.2m

* Kinnevik says announces partnership with Emaar malls in the Middle East, whereby Emaar has acquired 51 pct of Namshi for a combined primary investment and cash consideration of $151 million, with GFG retaining the remaining 49 pct Source text for Eikon: Further company coverage: (Reporting By Simon Johnson)

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