Zalando (ZAL) AGM 2026 summary

Opening remarks and agenda

• Reflected on 17 years of growth from startup to leading European digital group, emphasizing innovation and resilience through industry upheavals and crises.

• Highlighted the company's ongoing transformation, especially in AI, and set the stage for discussing sustainable value creation and future steps.

Financial performance review

• Achieved double-digit group revenue growth of nearly 17% to EUR 12.3 billion and operating profit of EUR 591 million in 2025.

• B2C GMV rose to EUR 17.6 billion with EUR 536 million operating profit; B2B revenue increased to EUR 1.1 billion, up almost 15%.

• Operating profit more than doubled, demonstrating the profitability of the business model.

• Q1 2026 GMV grew by 21.7% to EUR 4.3 billion; revenue up 23.8% to EUR 3 billion; operating profit rose 38.7% to EUR 65 million.

Board and executive committee updates

• Anna Dimitrova joined as Chief Financial Officer, bringing international experience to drive the vision forward.