elumeo SE / DE000A11Q059
13.05.2024 - 07:30:05elumeo SE returns to profitable growth in the first quarter of 2024
| elumeo SE / Key word(s): Quarter Results 13.05.2024 / 07:30 CET/CEST The issuer is solely responsible for the content of this announcement. Corporate News Sales in Q1/2024 increase by 5% to EUR 11.3 million compared to the same quarter of the previous year (Q1/2023: EUR 10.8 million) Adjusted EBITDA positive again at EUR 148 thousand (Q1/2023: EUR -169 thousand) Total costs were reduced by 8 % to EUR 6.0 million Gross profit margin falls to 48.5% (Q1/23: 52%) due to higher COGS Active customers increased by 7% in Q1 Marketing investments from Q4/2023 bear fruit and set the course for profitable growth in the current financial year Forecast for 2024 confirmed Berlin, 13 May 2024 - elumeo SE (ISIN DE000A11Q059), the leading electronic retailer of gemstone jewelry in Europe, has made a good start to financial year 2024. In Q1/2024, the company increased its revenue across all sales channels by 5% year-on-year to EUR 11.3 million (Q1/2023: EUR 10.8 million). The web sales channel made an above-average contribution to this positive development, increasing by 15% compared to the same quarter of the previous year. Sales in the TV sales channel also stabilized with an increase of 1% compared to Q1/2023. The number of active customers rose by 7% compared to the same quarter of the previous year to 40.2k (Q1/2023: 37.7k). The gross profit margin fell to 48.5% (Q1/23: 52.0%) due to inflation and higher cost of goods sold (COGS). By contrast, total costs were reduced by 8% to EUR 6.0 million (Q1/2023: EUR 6.6 million). The elumeo Group's key financial figure, adjusted EBITDA, was positive again at EUR 148 thousand (Q1/2023: EUR -169 thousand). Florian Spatz, Chief Executive Officer of elumeo SE: "The positive development in the first quarter of 2024 brings us a significant step forward. However, we are aware that we still have a considerable amount of ground to cover in view of the persistently challenging market environment." The slowly improving consumer climate in particular gives hope for the further course of business. According to GfK data from April 2024, the forecast for May 2024 improved for the third time in a row to a value of -24.2 points, reaching the highest value in the past two years despite the persistently low level. Spatz: "We are confident that our customers' willingness to spend and purchasing power will gradually return as the year progresses." The significant increase in sales in the web sales channel is the result of marketing investments already made in Q4/2023. This enabled the online campaigns to be optimized for profitability in Q1/2024 - with the result that the financial resources were used much more efficiently (-13%). "At the end of 2023, we tested and optimized a lot in order to activate and monetize certain customer groups much better than before. This puts us in a position to achieve greater profitability for every euro invested. We will benefit significantly from this knowledge over the rest of the year," adds Florian Spatz. The development of the video shopping app Jooli was also encouraging in Q1/2024. The onboarding process for new users of the app was revised and now allows users to specify their personal preferences right at the start. This allows the algorithm to display suitable product videos even faster. The number of orders increased from 202 in October 2023 to 1,353 in March 2024, while the average shopping basket rose from INR 135 to INR 301 in the same period. In light of the development to date in Q1/2024, the management of elumeo SE confirms its forecast for the current financial year. The company expects a return to profitable growth at Group level for the year as a whole. It expects mid-single-digit revenue growth of between 4% and 8% and a disproportionately high increase in adjusted EBITDA of between EUR 1.5 million and EUR 3.5 million with a gross profit margin of 49% to 51%. In addition, the management confirms the medium-term target of the #Juwelo100 growth program. This envisages sales growth to € 100 million by 2030. Q1 2024 Selection of key figures
Investor Relations Erkelenzdamm 59/61 10999 Berlin Phone: +49 30 69 59 79-231 Fax: +49 30 69 59 79-650 E-mail: ir@elumeo.com www.elumeo.com 13.05.2024 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement. The EQS Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.eqs-news.com | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Language: | English |
| Company: | elumeo SE |
| Erkelenzdamm 59/61, Portal 3b | |
| 10999 Berlin | |
| Germany | |
| Phone: | +49 30 69 59 79-0 |
| Fax: | +49 30 69 59 79-20 |
| E-mail: | info@elumeo.com |
| Internet: | www.elumeo.com |
| ISIN: | DE000A11Q059 |
| WKN: | A11Q05 |
| Listed: | Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange |
| EQS News ID: | 1900857 |
| End of News | EQS News Service |
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