E-commerce drives Otto Group’s profits and revenue growth

Otto Group, the international retail group and parent of delivery company Hermes, has reported that its overall revenue for the 2016/17 financial year was up by 3.4% to €12.512bn. In a statement issued yesterday (28 March), Otto Group said: “On a comparable basis global revenue climbed by 5%, meaning that the company beat the target of 4% comparable revenue growth it set itself at the beginning of the financial year.”

E-commerce was once again the “growth driver” for the group, as the comparable revenues for its 100+ online shops worldwide was up by around 10% from €6.3bn to almost €7bn.

Otto’s delivery specialist Hermes also continued to benefit from growth in the online retail sector, raising revenue by around 5% to €1.574bn. The Otto statement added: “On an exchange-rate adjusted basis, growth was even higher at over 11%, thanks to the very positive development of the British operation Hermes UK.”