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11 October 2021 Summary financial results £ m¹ Group revenues³ Retail sales4 Gross profit Gross margin Adjusted EBITDA4 Adjusted EBITDA Margin Adjusted EBIT4 Results Summary ● ASOS delivers strong financial results Investing for growth despite short - term headwinds Commits to new medium - term plan and growth targets ● ASOS PIC Global Online Fashion Destination Final Results for the year to 31 August 2021 ● Year to 31 August 2021 3,910.5 3,783.8 1,776.4 45.4 % 343.7 8.8 % 206.6 5.3 % 177.1 193.6 125.5p 199.5 Year to 31 August 2020 3,263.5 3,171.0 1,547.4 47.4 % 279.4 8.6 % 151.1 4.6 % 142.1 Adjusted EBIT Margin Reported profit before tax Adjusted profit before taxª Diluted earnings per share Net cash / ( debt ) 4 ¹ All numbers subject to rounding throughout this document , 2 Constant currency is calculated to take account of hedged rate movements on hedged sales and spot rate movements on unhedged sales , ³All references to segmental sales throughout the document are total sales unless otherwise stated , any reference to total or retail sales growth throughout the document is on a constant currency basis , 4A reconciliation of each adjusted measure to IFRS can be found on pages 16 and 17 142.1 125.6p 407.5 Change 20 % 19 % 15 % ( 200bps ) 23 % 20bps 37 % 70bps 25 % 36 % ( 0 % ) 13 % growth in active customer base to 26.4m Sales growth of 22 % , with exceptional growth in the UK + 36 % and strong growth in the US + 21 % ; EU and RoW grew at + 15 % and + 6 % respectively P4 underlying total sales growth of 15 % in line with guidance : UK + 29 % , US + 32 % , EU + 4 % , ROW ( 4 ) % EU most impacted by global supply chain challenges ; RoW hit by COVID - 19 related disruptions to our delivery proposition Gross margin down by 200bps to 45.4 % , driven by elevated freight & Brexit - related duty costs , product mix , FX headwinds and increased customer investment • Strong execution with continued discipline and operational grip : Adjusted PBT of £ 193.6m ( including estimated £ 67.3m COVID - 19 benefit ) Adjusted PBT exc . COVID - 19 benefit of £ 126.3m up 30 % on the prior year reflecting strong sales growth and continued efficiency improvements Free cash flow ( FCF ) generation of £ 35.9m and a net cash position of £ 199.5m FCF generation of £ 294.5m over the last 24 months Board Changes As detailed in a separate release today , ASOS has announced a number of Board changes to deliver the next phase of global growth : ● Nick Beighton is to step down as CEO . Mat Dunn , CFO , will take on the additional role of Chief Operating Officer and lead the business on a day - to - day basis , with Katy Mecklenburgh , currently Director of Group Finance , to support as Interim CFO CCY² Change 22 % 21 % Ian Dyson to become Chair , replacing Adam Crozier whose decision to step down was previously announced Search for a new CEO , led by Ian Dyson , is underway Jørgen Lindemann to join the Board as a Non - Executive Director Strategic & Operational Highlights Strong development of the ASOS platform , with further category development and additional capabilities : Face + Body growth of 49 % ; now a £ 150m business Integration of Topshop brands with sustained triple digit sales growth since acquisition ASOS Design + 7 % and venture brands + 69 % ASOS platform enhanced with the deployment of ' ASOS Fulfils ' to the UK , Russia , France , Italy and Australia c . £ 30m of non - strategic cost removed , cumulatively £ 80m to date since FY19 Lichfield fulfilment centre opened successfully , providing incremental capacity for peak 1