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RNS Number : 5637V THG PLC 15 April 2021 15 April 2021 THG PLC The Proprietary Digital Consumer Brands Group PRELIMINARY FY20 RESULTS AND FIRST QUARTER TRADING STATEMENT Full year 2020 £ 1.6bn of revenues ( + 42 % YoY ) , £ 151m adjusted EBITDA ( + 35 % YoY ) after £ 2.6m of self - funded furlough costs Statutory operating profit before adjusted items of £ 46m , £ ( 482m ) operating loss driven by one - off , non - cash items , principally equity awarded to our people Strong Q1 2021 revenue momentum ; + 58 % growth YoY , encouraging progress on Dermstore integration Ingenuity Commerce continued revenue acceleration with Q1 2021 + 188 % sales growth Reiterate recently upgraded 2021 revenue growth guidance of + 30 % to + 35 % Matthew Moulding , Founder , Executive Chairman and CEO to donate £ 100m of THG PLC shares to charity THG PLC ( " THG " or the " Group " ) , the proprietary technology platform specialising in taking brands direct to consumers ( " D2C " ) globally , announces its preliminary results for the financial year ending 31 December 2020 ( " FY 2020 " ) , together with its trading update for the three months ending 31 March 2021 ( " Q1 2021 " ) . FY 2020 and Q1 2021 Group Trading Performance £ m Unaudited FY 2020 FY 2019 FY Growth Q1 2021 Q1 2020 Q1 Growth THG Beauty 751.6 478.3 57.1 % 220.8 115.9 + 90.4 % THG Nutrition 562.3 412.9 36.2 % 146.3 110.8 + 32.1 % THG Ingenuity 137.3 127.9 7.3 % 40.4 32.0 + 26.1 % THG OnDemand 101.3 59.9 69.1 % 26.4 12.4 + 114.0 % Other 61.1 61.3 ( 0.3 % ) 13.4 11.7 + 14.9 % Group Revenue 1,613.6 1,140.3 41.5 % 447.3 282.7 + 58.2 % Gross Margin % ( 1 ) 45.2 % 44.8 % Adj EBITDA ( 2 ) 150.8 111.5 35.2 % Adj EBITDA % 9.3 % 9.8 % Net Cash / ( Debt ) ( 3 ) 282.8 ( 431.1 ) Ingenuity Commerce 19.3 7.4 160.4 % 7.9 2.8 + 187.9 % Revenue ( 1 ) Gross Margin % is presented before the impact of depreciation and amortisation ( 2 ) Adjusted EBITDA is defined as operating profit before depreciation , amortisation and adjusted items , and after £ 2.6m of self- funded furlough costs Net debt pre IFRS16 leases and on a hedged basis Outlook and guidance Following a strong end to FY 2020 , sales momentum has continued into FY 2021 across all divisions , revenue growth for the first - quarter of + 58.2 % is broad based , with stable margins in line with guidance . Ingenuity Commerce has been a highlight with 187.9 % growth in the quarter , up from 160.4 % in 2020 and 144.0 % in the fourth - quarter 2020 . The acquisition of Perricone MD in September 2020 , further strengthened THG's leadership in specialty beauty retailing . The integration strategy remains on track to achieve double digit EBITDA margins by the end of FY 2021 , as the brand pivots to a digital - first strategy . We have been collecting customer behaviour data throughout the pandemic as countries and regions moved in and out of restricted conditions . Accordingly , we have good confidence in the continuation of our customer behaviour metrics in 2021 and beyond . Whilst the pandemic is a one - off crisis , the underlying drivers supporting the continued shift and retention of online consumer retail spend have not changed for the past 15 years . Specifically ; broader product ranging and availability given online has no