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E-commerce

Kogan.com nearly doubles earnings in FY18

In a cash flow statement and trading update on Tuesday, Kogan.com reported $23.7 million in full-year EBITDA in FY18, a 90 per cent increase from FY17.

The rise in earnings before interest, tax, depreciation and amortisation was propelled by strong full-year revenue growth.

The online retailer revealed that revenue in FY18 was up more than 40 per cent on FY17, indicating Kogan.com brought in more than $400 million in revenue.

The figures are currently being audited and will further details will be provided with the release of its full-year results next month.

Nevertheless, Kogan.com founder and CEO Ruslan Kogan said he was pleased to finish the year with a strong quarter of continued growth.

“We are excited about all the growth initiatives we are implementing, as we continue to make the most in-demand products and services more accessible and affordable for our customers,” he said in a statement.

Kogan.com had 1.4 million active customers at the end of June, up 45 per cent from a year earlier, and was holding cash of $41.99 million.

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