Press Release
Munich, 19/11/2025
BESTSECRET Group continues to deliver robust revenue growth supported by a strong international segment and double-digit profitability in 9M 2025
Total revenue growth by 7.4% yoy to EUR 1,027 million in 9M 2025
18.5% yoy international revenue growth
Robust adjusted EBITDA margin of 12.2%
Strong cash generation leads to solid cash position of EUR 141 million at the end of the period
BESTSECRET Group (bond issuer: PrestigeBidCo GmbH - ISIN: XS2848952151, XS2848951856), the leading European online destination for premium and luxury off-price fashion, today reported revenues of EUR 1,026.8 million for the first nine months of 2025, ended September 30, marking a 7.4 per cent increase versus EUR 956.1 million in the same period in 2024. The persistent growth reflects the Group’s strong international expansion and the increasing number of active customers. Built on an exclusive,
invitation-only customer membership model, BESTSECRET continues to prove the attraction of its value propositions. Its unique model allows the Group to strengthen long-term brand partnerships and drive organic customer growth, even in a challenging market environment.
The segment International remained the growth engine, accounting for 48.0 per cent of the Group’s total revenue compared to 43.5 per cent for the same period last year. In absolute numbers, revenues from markets outside of Germany reached EUR 493.1 million, reflecting a year-on-year growth of 18.6 per cent over the EUR 416.0 million recorded in 2024. The segment Germany remained broadly stable and achieved revenues of EUR 533.7 million in the first nine months of 2025 (2024: EUR 540.1 million).
BESTSECRET reported an adjusted EBITDA of EUR 125.4 million for the first nine months of 2025, incorporating expected run rate cost synergies, including but not limited to the fulfillment center network expansion. This represents a modest decrease of 6.6 per cent compared to the prior year’s level of EUR 134.2 million in 9M 2024. The slightly lower adjusted EBITDA reflects the temporarily higher discounting in the first half of 2025 and the anticipated normalization in the second half of 2025. Despite this development the Group sustained a double-digit adjusted EBITDA margin of 12.2 per cent in 9M 2025 (1) (9M 2024: 14.0 per cent).
Due to the strong cash generation and optimized working capital management in the first nine months of 2025, Group cash and cash equivalents stood at EUR 141.4 million at the end of the reporting period (September 30, 2024: EUR 196.4 million), following the bond tap and the agreed shareholder distribution in March. As of September 30, 2025, the Group’s revolving credit facility, which has a total size of EUR 125.0 million, was undrawn. The senior secured leverage ratio (2) increased to 2.1x on September 30, 2025, compared to 1.7x one year earlier, reflecting the refinancing in July 2024 as well as the bond tap and shareholder distribution in March this year.
The financial information in this press release is based on preliminary unaudited financial figures of PrestigeBidCo GmbH.
About BESTSECRET Group
BESTSECRET is the leading European online destination for premium and luxury off-price fashion. The Group offers its customers in 28 countries across Europe a standing assortment of highly desirable international fashion brands at exclusive prices in a premium shopping environment. At the same time, BESTSECRET enables its brand partners to clear overstock at scale with minimum visibility and maximum brand equity protection. The unique business model is based on its closed character with an invitationonly customer membership, longstanding brand partner and customer relationships and a tech-focused mindset. BESTSECRET has a strong track record of profitable growth over many years. It generated revenues of EUR 1,415 million in 2024 and employs around 2,300 people from over 90 nations. The Group draws on a heritage of 100 years in the textile and fashion industry and today is owned by Permira Funds and the founding families Schustermann and Borenstein.
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(1) Refers to adjusted EBITDA for the issuer PrestigeBidCo GmbH. Adjusted EBITDA at the parent holding entity Best Secret Group SE includes additional administrative expenses for holding services. Adjusted EBITDA for Best Secret Group SE was EUR 116.8 million with a adjusted EBITDA margin of 11.4 per cent.
(2) The senior secured leverage ratio is calculated as senior secured net financial debt of EUR 458.6 million divided by LTM adjusted EBITDA of EUR 217.7 million.
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This press release may contain forward-looking statements based on current assumptions and forecasts made by BESTSECRET Group Management and other information currently available to BESTSECRET. Generally, the words “believe”, “expect”, “intend”, “estimate”, “anticipate”, “project”, “will” and similar expressions identify forward-looking statements, which generally are not historical in nature. Various known and unknown risks, uncertainties and other factors could lead to material differences between the actual future results, financial situation, development or performance of the company and the estimates given here. BESTSECRET does not intend, and does not assume any liability whatsoever, to update these forward-looking statements or to conform them to future events or developments.
Investor Relations | Sina Lenz | sina.lenz@bestsecret.com
Best Secret Group SE | Margaretha-Ley-Ring 27 | 85609 Aschheim | Germany