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DGAP-News: home24 SE
/ Key word(s): Annual Report/Forecast
HOME24 GROWS PROFITABLY IN 2021 WITH CURRENCY-ADJUSTED REVENUE GROWTH OF 27 % AND A POSITIVE ADJUSTED EBITDA MARGIN
Berlin, 31 March 2022 - In its annual report for the full year 2021 published today, home24 SE ("home24", the "Company") confirms its preliminary financial figures. In the past year, the Company's revenues amounted to EUR 615.5 million, representing a currency-adjusted growth of 27 %. The European segment generated EUR 501.4 million and achieving growth of 29 %. Brazil generated EUR 114.2 million revenue, representing a currency-adjusted growth of 21 %. Although growth slowed in the course of the year due to a normalization of demand and the high growth rates of the previous year, home24 continued to generate stable sales in the fourth quarter compared with the previous year. Adjusted EBITDA amounted to EUR 1.4 million, corresponding to a margin of 0 %. home24 maintained core profitability despite a demanding market environment caused mainly by the COVID-19 pandemic and its impact on shipping costs and supply chains. Another goal for 2021 was to enhance the positive shopping experience for customers. In particular, by improving the availability of goods in central warehouses, orders were delivered faster and more reliably and ensured a greater independence of global delays and shortages. At the same time, the Company has set strategic impulses for future growth with the acquisition of home accessories direct to consumer brand Butlers on April 1st 2022 and the go live of the curated marketplace for third-party sellers in the summer of 2022. Financial outlook The Company expects a difficult market environment for the financial year 2022 with increased volatility. During the COVID-19 pandemic home24 convinced many new customers of the advantages and convenience of buying furniture online. At the same time, there are unpredictable effects due to the pandemic, such as still high freight costs and disrupted supply chains, which will continue to accompany home24 this year. The current geopolitical tensions are also impacting commodity and energy prices as well as the cost of living and are likely to temper the consumer climate. The Company will therefore place increased emphasis on maintaining core profitability over sales growth in the current fiscal year, while continuing its current approach to customer acquisition.
The impending acquisition of Butlers will have a positive impact: This strategic investment gives home24 access to 40 million visitors per year. The Company will thus focus on factors that can be directly influenced, such as product range expansion, own-brand expertise, and market positioning. The investment in a curated marketplace for third-party sellers is also part of this strategy, which will enable home24 to tap further growth potential. Based on the weakened market demand in the first quarter and the uncertain factors in the macroeconomy, the forecast is broadly defined and will be further specified in the course of the year. From today's perspective, home24 is planning for currency-adjusted revenue growth rates of +2 % to +17 % and an adjusted EBITDA margin of +1 % to +5 % for the financial year 2022. Focus on strengthening market position "The past year was yet again characterized by unprecedented challenges, in which we were once again confronted with restrictions and economic uncertainties. Nevertheless, home24 has again shown the resiliency of our business model and strategy, as we have once again succeeded in growing profitably - even considering that the home & living market in Germany has declined. We increased our active customer base to 2.3 million. Our annual results underline that online purchases of home & living products continue to gain market share over offline retail, and that we offer an attractive service and significant added value for our customers," says Marc Appelhoff, CEO of home24. "Indepent of the market uncertainties we are focusing on strengthening our market position and continuously building a better product and service offering for our customers. The acquisition of Butlers and the development of a curated marketplace form the major cornerstones of that strategy. We believe we are well positioned to develop our business further, even in the face of the current tensions, while continuing to pursue a sustainable growth path."
MOST RELEVANT FINANCIAL FIGURES AT A GLANCE
---END--- ABOUT HOME24 home24 is a leading pure-play home & living e-commerce platform in Continental Europe and Brazil. With over 150,000 home & living products in Europe and more than 200,000 articles in Latin America, home24 offers a unique selection of large and small furniture pieces, garden furniture, mattresses and lighting. This curated, broad assortment offers a significant value-for-money value proposition to customers. home24 is headquartered in Berlin and employs more than 2,000 people worldwide. The Company is active in seven European markets: Germany, France, Austria, the Netherlands, Switzerland, Belgium and Italy. home24 is also active in Brazil under the "Mobly" brand. In Europe, the Company delivers its products - regardless of size and weight - free of charge to the homes of its customers and also offers free returns. home24's product range consists of numerous brands, including a large number of private labels. home24 is listed on the Frankfurt Stock Exchange (ISIN DE000A14KEB5). Mobly's stock is traded on the Brazilian Novo Mercado of B3 (ISIN BRMBLYACNOR5). For more information, please visit the Company's website at www.home24.com.
COMPETENT PERSON FOR THIS PUBLICATION: Fiona Kleinert Communications Manager +49 30 2016 329 418 PRESS CONTACT: Fiona Kleinert fiona.kleinert@home24.de INVESTOR CONTACT: Philipp Steinhäuser ir@home24.de LEGAL DISCLAIMER: This publication contains forward-looking statements. These statements are based on the current views, expectations, assumptions and information of the Company's management. Forward-looking statements contain no guarantee for the occurrence of future results and developments and are associated with known and unknown risks and uncertainties. Due to various factors, actual future results, developments and events may differ materially from those described in these statements; neither the Company nor any other person accepts any responsibility whatsoever for the accuracy of the opinions or underlying assumptions contained in this publication. The Company assumes no obligation to update the forward-looking statements contained in this publication.
31.03.2022 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. |
| Language: | English |
| Company: | home24 SE |
| Greifswalder Straße 212-213 | |
| 10405 Berlin | |
| Germany | |
| Phone: | +49 30 - 609880019 |
| Fax: | +49 30 - 2016329499 |
| E-mail: | ir@home24.de |
| Internet: | www.home24.com |
| ISIN: | DE000A14KEB5 |
| WKN: | A14KEB |
| Listed: | Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Munich, Stuttgart, Tradegate Exchange |
| EQS News ID: | 1316243 |
| End of News | DGAP News Service |
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1316243 31.03.2022
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