Source: Sharecast
The online-only brand said adjusted like-for-like group revenues had fallen 9% in the year to 30 August, to £2.24bn, while gross merchandise value was off 5% at £2.35bn.
However, GMV improved with each quarter, Asos noted, and returned to growth in the final three months for the year for the first time since 2022.
Adjusted earnings before interest, tax, depreciation and amortisation spiked 39% to £170.3m, while adjusted pre-tax losses narrowed to £46.4m from £98.2m.
Asos has undergone a significant overhaul in recent years, including clearing excess inventory, cutting soaring levels of debt, improving sourcing and introducing new partner models.
Chief executive José Antonio Ramos Calamonte said Asos had been "transformed", adding: "This was another year of consistent delivery and, above all, the year that Asos returned to growth."
The focus now would be to "consolidate our return to growth and make sustained, profitable growth the new normal" he added. "Our expectation is that the 2027 full year will mark our first full year of growth since completing the transformation of the business model."
However, Calamonte also acknowledged that a recent cyberattack had resulted in short-term disruption to trading, most notably in the UK, with the latest impact since the 6 October incident estimated at between 2% and 4% of group GMV, roughly equivalent to between £4m and £8m in lost sales.
Hackers accessed basic customer data although no payment details or passwords were affected. The site continued to trade throughout but as a precaution, certain marketing and customer relationship management activity was temporarily paused.
The retailer said it had 16.5m active customers in the first eight weeks of the current year, up around 1% year-on-year, while trading was "broadly flat", notwithstanding the impact of the attack.
Asos is currently predicting low single-digit GMV growth for the full year and adjusted EBITDA between £180m and £200m.
As at 1430 GMT shares in Asos were off nearly 2% at 415.5p.
Dan Coatsworth, head of markets at AJ Bell, said: "Asos is getting its act together after a lengthy turnaround programme. It has returned to profit and made big strides in strengthening the balance sheet. That’s a much better position to be in, particularly as there could be challenging times just around the corner. The prospect of a sharp increase in household bills for UK residents from January amid a higher energy price cap means Asos will be praying for a bumper Christmas."
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