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8 April 2021 Summary financial results £ m¹ ● ASOS plc Global Online Fashion Destination Interim Results for the six months to 28 February 2021 ASOS delivers record results driven by exceptional execution Group revenues³ Retail sales4 Gross profit Gross margin ● ● Six months to 28 February 2021 1,975.9 1,919.9 890.0 45.0 % asos 180.8 9.2 % 116.2 5.9 % 106.4 112.9 81.9p 92.0 Six months to 29 February 2020 1,596.8 1,551.4 750.0 47.0 % 95.3 6.0 % 34.6 2.2 % 30.1 30.1 27.5p ( 163.6 ) Change Adjusted EBITDA5 Adjusted EBITDA Margin Adjusted EBIT Adjusted EBIT Margin Reported profit before tax Adjusted profit before tax² Diluted earnings per share Net cash / ( debt ) 8 ¹ All numbers subject to rounding throughout this document , 2Constant currency is calculated to take account of hedged rate movements on hedged sales and spot rate movements on unhedged sales , ³Includes retail sales , delivery receipts and third party revenues , " Any reference to total or retail sales throughout the document is on a constant currency basis , 5 Adjusted EBITDA is the reported earnings before interest , tax , depreciation , amortisation , share - based payments charges and Topshop brands acquisition and integration one - off costs ( please see full reconciliation on page 12 ) , 6Adjusted EBIT is the reported earnings before interest , tax , Topshop brands acquisition and integration one - off costs and amortisation of acquired intangible assets ( please see full reconciliation on page 12 ) , ' Adjusted profit before tax is the reported profit before tax , Topshop brands acquisition and integration one - off costs and amortisation of acquired intangible assets ( please see full reconciliation on page 12 ) , Net cash / ( debt ) is the cash and cash equivalents less borrowings 24 % 24 % 19 % ( 200bps ) 90 % ASOS platform continues to strengthen , enhancing customer choice and product availability : 320bps 236 % Results Summary • Active customer base increased to 24.9m , up 1.5m over six months . Good growth in new customers balancing fewer event - led reasons for existing customers to shop Total sales growth of 25 % reflecting a strong performance throughout the period underpinned by excellent operational delivery • Exceptional UK performance with 39 % sales growth and good growth in international territories ; EU + 18 % , US + 16 % , ROW + 16 % • Gross margin down 200bps driven by increased freight costs due to COVID - 19 disruption , foreign exchange movements and continued ' lockdown ' category product mix 370bps 253 % 275 % 198 % Strategic & Operational Highlights Topshop brands integration progressing to plan as part of our strategy to further develop the ASOS brands : Successful customer relaunch on 22February within 3 weeks of completion Great early customer momentum • Record adjusted PBT7 of £ 112.9m including net COVID - 19 benefit ( £ 48.5m ) ● Net cash position of £ 92.0m , reflecting robust underlying cash generation , £ 266.0m investment in Topshop brands and the anticipated working capital unwind , following COVID - 19 delays to peak stock build CCY² Change 25 % 25 % Adjusted EBITDA margin up 320bps to 9.2 % reflecting net COVID - 19 benefit and continued underlying improvements , alongside disciplined reinvestment into customer momentum One - off acquisition and integration costs now expected to be c . £ 10m ( reduced from c . £ 20m ) Investment in pricing , principally in Europe , to further strengthen customer proposition Flexibility in shaping product offer to demand supported further outperformance of ' lockdown ' product Flexible fulfilment progressing to plan ; further deployment of unified stock pool between UK and US ahead of further rollout across ASOS and subsequent development of partner fulfilment capabilities by the end of this calendar year Continued platform expansion with 120 new brands added , over 100 new delivery enhancements and 18,300 new Click and Collect locations to expand total Click and Collect offering to 166,000 locations globally Exceptional executional delivery with continued discipline and strong operational grip Global infrastructure development on track , fit out commenced on Lichfield fulfilment centre , US automation on track for H2 FY23 Following a multi - year development programme and an extended period of parallel run , Truly Global Retail ( TGR ) system launched successfully , delivering significantly enhanced global retail planning and pricing capability and provides an essential foundation for our flexible fulfilment aspirations 1