The latest from the boardroom
Final results for the year ended 31 August 2022
“ASOS is a strong business with a compelling brand, customer offer and fashion credibility, with dedicated and passionate employees. Against the backdrop of an incredibly challenging economic environment, this unique combination has enabled our business to deliver a resilient performance this financial year in the UK - but I know we as a Company can achieve far more.
“Today, I have set out a clear change agenda to strengthen ASOS over the next 12 months and reorient our business towards the future. This includes a number of decisive, short-term operational measures to simplify the business, alongside steps to unlock longer-term sustainable growth by improving our speed to market, reinforcing our focus on fashion, strengthening our top team and leveraging data and digital developments to better engage customers.
“On the basis of the actions I have set out today, the team and I will work resolutely to emerge from these turbulent times as a more resilient and agile business – all the time guided by our purpose, to give our customers the confidence to be whoever they want to be.”
Performance for the year ended 31 August 2022
Revenue
£3,936.5m
(Growth rate): 4%1
2021: £3,910.5m
Gross margin
43.6%
(Growth rate in bps): -180bps
2021: 45.4%
Adjusted EBIT2
£44.1m
(Growth rate in %): -79%
2021: £206.6m
Adjusted EBIT margin2
1.1%
(Growth rate in bps ): -420bps
2021: 5.3%
Diluted EPS
-30.9p
(Growth rate in % ): -124%
2021: 128.5p
Net Assets
£1,014.9m
(Growth rate in %): -2%
2021: £1,034.0m
1 On a constant currency basis, excluding H2 21 Russian sales
2 Definitions of the adjusted performance measures used above can be found in the FY22 Results RNS
