Added to YB: 2026-05-07
Pitch date: 2026-05-05
ANR.WA [bullish]
Answear.com S.A.
-0.31%
current return
Author Info
No bio for this author
Company Info
Answear.com S.A. operates online fashion stores in Poland and internationally. It offers blouses and shirts, underwear, sweatshirts, jeans, overalls, jackets, sets and tracksuits, vests, coats, dresses, socks, swimsuits, shorts, pants and leggings, skirts, sweaters, tops and t-shirts, suits, polo shirts, dungarees, rompers, and body and clothing care products; and footwear.
Market Cap
PLN 338.5M
Pitch Price
PLN 19.26
Price Target
47.50 (+147%)
Dividend
N/A
EV/EBITDA
10.00
P/E
36.41
EV/Sales
0.33
Sector
Specialty Retail
Category
value
Answear.com: The Polish Zalando in the Cold with Ukraine option $ANR.WA
ANR.WA: Polish online fashion retailer across 12 CEE markets. 1.7B PLN rev (+13% in 2025), EBITDA ~70M PLN vs 80M target (missed on Q4 macro/warm weather/competitor discounting). Own logistics from Kraków drives better unit economics vs Western peers. 41-44% gross margin, growing private label mix. Trading 14x 2026e PE vs Zalando 25x. Fair value 47.50 PLN (19x PE on 2.50 PLN 2028e EPS) implies 36% annualized return from 19 PLN today. Risks: CEE consumer cyclicality, Ukraine exposure (8-10% rev), price competition from Allegro/Shein/Zalando, margin recovery execution. Catalyst: EBITDA margin expansion to 6%+, Ukraine stabilization, reduced competitive intensity. Founder-led, profitable, net cash balance sheet.
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