Global Fashion Group (DE:GFG)
XETRA:GFG
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Global Fashion Group
(XETRA:GFG)
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Rating:52Neutral
Price Target:
€0.50
▲(100.00% Upside)
Action:Reiterated
Date:05/30/26
The score is held back primarily by weak financial performance (declining revenue, continued net losses, and generally negative free cash flow), despite signs of stabilization in 2025 (narrowing losses and positive operating cash flow) and improved leverage. Technical indicators are moderately supportive with price above key moving averages and positive MACD, but valuation remains challenged due to ongoing losses and no dividend yield data.
Positive Factors
Improved leverage
Material reduction in debt and a roughly halved debt-to-equity ratio strengthen financial flexibility and lower refinancing and interest risk. This durable improvement supports funding for logistics and marketing investments and reduces vulnerability to rising rates, aiding cash flow durability over the next months.
Negative Factors
Multi-year revenue decline
Persistent top-line contraction erodes scale economics and reduces gross profit dollars, limiting the firm's ability to cover fixed costs and invest in customer acquisition or logistics. Continued revenue decline is a structural headwind that makes achieving sustainable profitability harder over the medium term.
Read all positive and negative factors
Positive Factors
Negative Factors
Improved leverage
Material reduction in debt and a roughly halved debt-to-equity ratio strengthen financial flexibility and lower refinancing and interest risk. This durable improvement supports funding for logistics and marketing investments and reduces vulnerability to rising rates, aiding cash flow durability over the next months.
Read all positive factors
Global Fashion Group (GFG) vs. iShares MSCI Germany ETF (EWG)
Market Cap
€114.23M
Dividend YieldN/A
Average Volume (3M)24.01K
Price to Earnings (P/E)―
Beta (1Y)0.19
Revenue Growth-8.57%
EPS Growth27.04%
CountryDE
Employees3,558
SectorConsumer Cyclical
Sector Strength84
IndustryApparel - Retail
Share Statistics
EPS (TTM)-0.32
Shares Outstanding228,642,910
10 Day Avg. Volume28,339
30 Day Avg. Volume24,014
Financial Highlights & Ratios
PEG Ratio0.05
Price to Book (P/B)0.39
Price to Sales (P/S)0.09
P/FCF Ratio-9.46
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)-0.14
Revenue Forecast (FY)€691.57M
Global Fashion Group Business Overview & Revenue Model
Company Description
Global Fashion Group (GFG) is a leading online fashion and lifestyle destination in the global e-commerce market, primarily focusing on emerging markets. The company operates various online platforms that feature a wide range of products, includin...
How the Company Makes Money
GFG primarily makes money by selling fashion and lifestyle products through its e-commerce platforms. Its core revenue stream is product sales to consumers (gross merchandise value converting into recognized revenue net of returns/discounts depend...
Global Fashion Group Earnings Call Summary
Earnings Call Date:Mar 04, 2026
(Q4-2025)
| % Change Since: |
Next Earnings Date:Aug 13, 2026
Earnings Call Sentiment Positive
The call emphasizes a successful multi-year reset: material structural actions (inventory cuts, assortment rationalization, cost reductions, and platform expansion) led to margin expansion, region-level recoveries and the milestone of group adjusted EBITDA profitability and stronger liquidity. Significant challenges remain — notably SEA top-line decline, active customer contraction, FX and macro volatility, and a seasonal cash cycle — and management’s 2026 guidance remains conservative. On balance, the operational improvements and profitability milestone outweigh the remaining headwinds, supporting a constructive outlook.Positive Updates
Group Adjusted EBITDA Turned Positive
Global Fashion Group delivered positive adjusted EBITDA at the group level and in all three regions in 2025 (group adjusted EBITDA reported as EUR 9m for 2025). Management noted adjusted EBITDA improved materially versus prior years (citing a EUR 62m improvement since 2023 and a EUR 27m increase year-on-year vs 2024), reflecting margin expansion and cost savings.
Negative Updates
Overall NMV Decline Since 2023
NMV declined by EUR 168m from 2023 to 2025 (about half of the reduction attributed to FX devaluation), and the active customer base was down 4% year-on-year at end-2025 as the company prioritized profitable acquisition and reactivation.
Read all updates
Q4-2025 Updates
Positive
Negative
Group Adjusted EBITDA Turned Positive
Global Fashion Group delivered positive adjusted EBITDA at the group level and in all three regions in 2025 (group adjusted EBITDA reported as EUR 9m for 2025). Management noted adjusted EBITDA improved materially versus prior years (citing a EUR 62m improvement since 2023 and a EUR 27m increase year-on-year vs 2024), reflecting margin expansion and cost savings.
Read all positive updates
Company Guidance
Guidance for 2026 is for NMV to be flat to down 4% / up 4% on a constant‑currency basis (EUR 0.99bn–1.07bn at December‑2025 FX), adjusted EBITDA of EUR 15m–25m (building on EUR 9m in 2025), CapEx and lease costs broadly in line with 2025, and a slightly higher working‑capital inflow than in 2025; the company reiterates medium‑term targets of gross margin in excess of 47%, ~45% Marketplace share and >5% Platform Services share, continued marketing investment at ~7% of NMV, the objective of normalized free cash‑flow breakeven (and an indicative 5–6% adjusted EBITDA margin ambition), while closing 2025 with pro‑forma cash of EUR 185m (pro‑forma net cash EUR 143m) — after a planned bond redemption leaving ~EUR 153m cash and EUR 9.1m bond outstanding — plus EUR 176m total adjusted available liquidity, a EUR 3m share buyback, and continued focus on cost and AI/technology to drive margin expansion.Global Fashion Group Financial Statement Overview
Summary
Income Statement
28
Negative
Balance Sheet
52
Neutral
Cash Flow
43
Neutral
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 715.30M | 679.80M | 743.50M | 838.00M | 1.07B | 1.04B |
| Gross Profit | 328.60M | 315.50M | 333.80M | 352.90M | 452.70M | 448.30M |
| EBITDA | -22.01M | 1.50M | -18.60M | -86.20M | -68.20M | -38.00M |
| Net Income | -79.90M | -60.30M | -82.50M | -178.40M | -196.30M | -124.80M |
Balance Sheet | ||||||
| Total Assets | 514.60M | 530.30M | 637.50M | 862.00M | 1.17B | 1.54B |
| Cash, Cash Equivalents and Short-Term Investments | 159.70M | 176.50M | 210.60M | 387.00M | 550.00M | 634.50M |
| Total Debt | 92.50M | 90.60M | 103.00M | 239.40M | 343.00M | 497.20M |
| Total Liabilities | 353.40M | 374.70M | 426.30M | 566.30M | 695.10M | 971.40M |
| Stockholders Equity | 164.60M | 156.50M | 213.70M | 272.30M | 475.50M | 569.70M |
Cash Flow | ||||||
| Free Cash Flow | -28.40M | -6.50M | -44.60M | -76.40M | 25.00M | -107.80M |
| Operating Cash Flow | -25.40M | 7.50M | -15.00M | -47.50M | 92.60M | -51.20M |
| Investing Cash Flow | -20.20M | -9.80M | 130.10M | 48.90M | -38.00M | -293.10M |
| Financing Cash Flow | -118.90M | -29.80M | -130.60M | -99.50M | -121.90M | 370.10M |
Global Fashion Group Technical Analysis
Positive
0.25
Price Trends
0.47
Positive
0.39
Positive
0.35
Positive
Market Momentum
<0.01
Positive
55.93
Neutral
36.77
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For DE:GFG, the sentiment is Positive. The current price of 0.25 is below the 20-day moving average (MA) of 0.49, below the 50-day MA of 0.47, and below the 200-day MA of 0.35, indicating a bullish trend. The MACD of <0.01 indicates Positive momentum. The RSI at 55.93 is Neutral, neither overbought nor oversold. The STOCH value of 36.77 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for DE:GFG.
Global Fashion Group Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
61 Neutral | $18.38B | 12.79 | -2.54% | 3.03% | 1.52% | -15.83% | |
61 Neutral | €285.68M | 10.10 | 36.00% | ― | 4.11% | ― | |
53 Neutral | €130.29M | 94.28 | -0.48% | ― | 28.37% | ― | |
52 Neutral | €114.23M | -1.89 | -36.61% | ― | -8.57% | 27.04% | |
52 Neutral | €4.40B | -6.93 | -31.73% | 2.83% | -19.42% | -420.94% | |
46 Neutral | €43.06M | -1.56 | -54.44% | ― | -15.61% | 66.17% |
* Consumer Cyclical Sector Average
DE:GFG
Global Fashion Group
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Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.