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Booktopia Reports Strong Third Quarter, Expects Demand to Grow
Booktopia is reporting strong growth in its third-quarter and is reportedly on track to hit its full-year revenue goal.
The retailer is recording revenue increases of 53 percent from $42.4 million in Q3 FY20 to $65 million in Q4 Fy21. Its YTD revenue has also experienced an uplift of 50 percent, to $117.8 million in the current quarter, compared to $118.5 million in the same period last year.
To date, the retailer reports an increase of quarterly underlying EBITDA of 267 percent from $1.1 million to $4.2 million. Moreover, its YTD underlying EBITDA is also up 256 percent from $3.4 million to $12.1 million.
As such, Booktopia reports an upgraded full-year revenue projection of $217.6 million and forecasts its underlying EBITDA for the full year of $12.9 million – its current results leave the retailer “on track” to achieve these results.
There was a 39 percent increase in total units shipped in the first half to 31st December, with an AOV of $69.87. Currently, this gives Booktopia a six percent total market share and captures 15 percent market share of the online book category in Australia.
The pandemic has accelerated the growth of Booktopia’s customer base and online sales, which is a “promising” sign for the business and its future goals. At the end of March 2021, Booktopia is reporting a customer base of 5.6 million, with an Active Customer base of 1.83 million.
“The previous corresponding quarter (January to March 2020) was the first trading period impacted by widespread lockdowns and the rapid growth of e-commerce,” said Tony Nash, the CEO and Founder of Booktopia. “It is promising to see the changes in consumer behaviour that marked that period continue into the new year despite the absence of long-term lockdowns.
“Millions of Australians have now been introduced to the world of e-commerce and will continue to appreciate the convenience and value presented by online shopping. We expect demand to continue to grow for the foreseeable future as the overall market for online books grows and we continue to take more market share,” he said.