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Kogan’s Gross Sales Rise By More Than 100%

The Australian e-commerce site Kogan.com has witnessed significant growth during the COVID-19 crisis, with the retailer recording year-on-year growth of 100% in April and May.

Gross profit has expanded even more substantially, growing by more than 130% over the same period.

Adjusted earnings before interest, taxes, depreciation and amortisation (EBITDA) expanded by over 200% year-on-year in April and May.

In May 2020 Kogan.com added 126,000 active customers, following 139,000 new active customers in April.

As of 31st May Kogan.com’s total active customers stood at 1.95 million.

Alongside this steady growth, Kogan’s share price has continued to grow steadily in recent months. Yesterday, before this latest update was released, Kogan’s share price reached $11.40.

Today Kogan’s share price has increased by a further 7.8% to hit $12.29 as of 12.30pm.

Kogan ASX share price 05.06.2020

According to the Sydney Morning Herald, Kogan’s market capitalisation is more than $1.2 billion, which is higher than David Jones (under $1 billion) and Myer ($217 million) combined.

As of Kogan’s half-year results the company’s cost of doing business to gross sales ratio stood at 6%, under half of JB HI-FI’s ratio of 15%. Nevertheless, Kogan is considered to be one of the most efficient retailers in Australia.

Kogan’s portfolio of retail and services businesses now includes Kogan Retail, Kogan Marketplace, Kogan Mobile, Kogan Internet, Kogan Insurance, Kogan Travel, Kogan Money, Kogan Cars, Kogan Energy, Dick Smith, and Matt Blatt.

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