Strong ending to 2020 results in full year net revenue growth of 27.3% and 6.7% adjusted EBIT margin
Net revenue growth in the fourth quarter was 35.8% with an adjusted EBIT margin of 9.9%. Both net revenue growth and adjusted EBIT margin came in above expectations as the return rate in Q4 was significantly below the estimated level. The deviation to expectations came from lower returns from Black Week as well as Christmas shopping, which had extended return until January 31, 2021.
As per our financial calendar, our interim financial report for Q4 2020 is scheduled for release on 9 February, 2021.