Booktopia’s half-year results smashed it – so the online retailer lifted its guidance

- February 22, 2021 2 MIN READ
Booktopia CEO and co-founder Tony Nash


  • Revenue up 51.1% to $112.6 million
  • Underlying EBITDA (adjusted for IPO and conversion of preference share costs) up 502.3% to $8m
  • 4.2 million orders shipped
  • FY21 revenue forecast increased to $217.6million with EBITDA of $12.9 million.
  • $19.78m loss due to $4m in IPO costs and share conversion

Record growth from newly listed online book retailer Booktopia Group Limited (ASX: BKG) has seen it smash prospectus forecasts in its half-year results to December 31, 2020. 

Today’s H1 FY21 results are the company’s first since it listed on December 2020 following a $25 million IPO. 

Revenue jumped by 51.1%, year-on-year, to $112.6 million, while underlying EBITDA (adjusted for IPO and conversion of preference share costs) rose by 502.3% to $8 million.

The full-year revenue forecast has been increased to $217.6million with EBITDA (adjusted for IPO and conversion of preference share costs) of $12.9 million. The company’s prospectus forecast was for revenue of $204.5m with EBITDA of $9.4m.

The half saw a fresh record 4.2 million orders shipped, up 39%, in the wake of a $12 million upgrade to Booktopia’s distribution centre at Lidcombe in Sydney’s west, which doubled capacity to ship up to 60,000 books daily. 

Active customers increased by 25% to 1.71 million and the average annual spend per customer increased from $103.32 to $123.57.

Booktopia CEO Tony Nash said demand experienced early in the 2020 calendar year extended right through to Christmas.

“The investment in our distribution centre together with our strong balance sheet means we are well-positioned to absorb future demand growth in a profitable and sustainable manner,” he said. 

“We will continue our growth strategy, investing in key areas of the business to cement our online market leadership and drive increased market share. This includes the continued expansion of our Publishing Services and Booktopia Publishing businesses.” 

Booktopia now has a 6% share of the total market and almost 15% of total online consumer book sales in Australia.   

The company has now built a database of 5 million customers and 2.3 million repeat customers

Nash said the company’s commitment to real-time reporting and analytics had helped deliver above-average e-commerce conversion rates. 

“Our data and proprietary algorithms are central to our ability to understand our customers and ensure their experience is second to none in Australia,” he said.

“This data also allows us to have a highly efficient business by optimising our inventory and improving delivery times.” 

There were no dividends paid, recommended or declared during the current financial period.

Subject to any unforeseen circumstance the company expects to achieve FY21 revenue of $217.6 million and underlying EBITDA (adjusted for IPO and conversion of preference share costs) of $12.9 million.

In the 2020 financial year, Booktopia reported sales of $165.8 million and an underlying EBITDA of $6 million.