Financial Highlights
Total revenue for the period increased by 21.7% to £264.3m (2014: £217.1m).
AO website sales2 for the UK3 up 23.7% to £214.8m (2014: £173.7m), with total UK revenue up 14.5% to £248.6m (2014: £217.1m); a further gain in market share.
Europe4 annualised exit run rate revenue of €61.2m (based on September sales)5. Europe revenue for the period was €21.7m (2014: €nil).
Group operating loss of £8.9m (2014: £0.9m profit) reflecting the ongoing investment in German operations and start-up costs in further Europe territories of £0.9m (2014: £3.3m).
UK adjusted EBITDA6 of £5.1m (2014: £7.3m), with UK adjusted EBITDA margin7 decreasing to 2.0% due to investment in marketing to increase brand awareness and investment in overheads to drive margin and ensure resilience across the business (2014: 3.4%).
Europe adjusted EBITDA loss of £9.6m (2014: £nil) representing trading losses in our European territories from launch bringing Group adjusted EBITDA to a loss of £4.5m (2014: £7.3m profit).
Group net funds position8 as at 30 September 2015 was £29.6m (2014: £43.9m), with cash being £35.6m (2014: £50.1m).
Loss per share of 1.58p (2014: earnings of 0.12p).
