eShopWorld reports turnover of €406.6 million for 2018
Tommy Kelly, CEO eShopWorld
* Up €90million to €406.6m (+26.7%) in 2018
* 8-fold increase (€350m) since 2015
Dublin, 8th July, 2019: Global ecommerce provider eShopWorld today publishes an overview of its 2018 operating performance and outlook for 2019. 2018 marked a year of substantial growth and investment for the Company. Turnover increased by almost €90 million (26.7%) to €406.6m, with strong growth evident in all markets.
EBITDA of €6.1m for the year follows growth driven investment in the company’s new platform. The new platform is based on microservices infrastructure which enables the rapid, seamless addition of new features and services that can be offered to all clients, and facilitates scalability and continuous deployment of large, complex applications. The addition of over 150 new staff in the two years to December 2018 has seen a doubling of staffing costs with up to 50% of payroll now relating to platform and market development investment.
Commenting, Tommy Kelly, eShopWorld Founder and CEO said: “Having proven the effectiveness of our ecommerce platform to deliver fast and efficient cross border growth for premium brands our focus has now shifted to scalability requiring significant investment in our platform, people and in-market presence. Over the coming two years we aim to double revenue, increase global headcount to over 450 and continue to enhance the range and scope of services to discerning and growth-focused premium brands.
“Our outlook for global ecommerce is very positive. Globally, we see the US and APAC regions, including Australia, as immensely attractive markets, and drivers of cross border shopping growth – both inbound and outbound. European markets continue to be an important destination for US brands, particularly the UK, Germany and France. Post Brexit we believe our platform will help simplify cross border complexities for retailers and consumers alike and with that in mind, we continue to expand our footprint across the UK and continental Europe.
2018 Operational Overview:
eShopWorld saw strong double-digit growth in each of its key regions in 2018. Europe grew by more than 21 per cent, North America by 25 per cent and Asia in excess of 100 per cent. ‘Rest of world’ saw growth of more than 1600 per cent from a lower base, reflecting the group’s increasing penetration into emerging markets on behalf of its clients.
In terms of the split of turnover, Europe and North America accounted for almost 60 per cent and 36 per cent of sales respectively in 2018 with the balance evenly spread between Asia and ‘rest of world’.
In 2018 eShopWorld invested in a new headquarters for the company’s US business and post year end it doubled its group HQ office space in Dublin to 24,000 sq. ft.