Q1 2023 Global Fashion Group SA Earnings Call Transcript
Good morning, everyone, and welcome to Global Fashion Group's Q1 2023 results. I'm Matthew Price, CFO.
Just a few weeks ago, we announced our full year results followed by our Capital Markets Day. There, we outlined our ambition following the sale of the CIS business and updated our progress against our strategic priorities. Today, I'll provide a short summary of our first quarter results and the outlook for the year. After that, I'll open up to Q&A.
Our focus remains exactly the same as we set out a few weeks ago. Our markets are uncertain and inflation remains elevated. Therefore, we're focused on aspects that we can control. We continue to manage our inventory prudently and grow our marketplace, which carries no balance sheet risk. We maintain focus on cost control, limited capital expenditure and improved marketing efficiency to stay on our path to profitability. These actions are intended to allow us to deliver adjusted EBITDA breakeven in 2024 without relying on growth and the associated cost
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