home24 experiences profitable growth in 2021 with currency-adjusted revenue growth of 27% and a positive adjusted EBITDA margin


DGAP-News: home24 SE / Key word(s): Annual report/Forecasts
31.03.2022 / 07:50
The issuer is solely responsible for the content of this announcement.

HOME24 GROWS PROFITABLELY IN 2021 WITH FOREIGN EXCHANGE-ADJUSTED REVENUE GROWTH OF 27% AND POSITIVE ADJUSTED EBITDA MARGIN

Berlin, March 31, 2022 – In its annual report for the full year 2021 published today, home24 SE (“home24”, the “Company”) confirms its preliminary financial figures. Over the past year, the Company’s revenues amounted to €615.5 million, which represents growth adjusted for currency effects of 27%. The European segment generated 501.4 million euros and achieved growth of 29%. Brazil generated revenue of €114.2 million, representing growth of 21% adjusted for currency effects. Although growth slowed during 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 to the year former.
Adjusted EBITDA amounted to €1.4 million, corresponding to a margin of 0%. home24 maintained its core profitability despite a challenging market environment caused primarily by the COVID-19 pandemic and its impact on shipping costs and supply chains. Another goal for 2021 was to improve 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 greater independence from global delays and shortages.
At the same time, the company has set strategic impulses for its future growth with the acquisition of home accessories directly from the consumer brand Butlers on April 1, 2022 and the launch of the curated marketplace for third-party sellers. in the summer of 2022.

Financial outlook

The Company expects a challenging market environment for fiscal 2022 with increased volatility. During the COVID-19 pandemic, home24 convinced many new customers of the benefits and convenience of buying furniture online. At the same time, there are unpredictable effects due to the pandemic, such as still high transport costs and disrupted supply chains, which will continue to accompany home24 this year. Current geopolitical tensions are also impacting the prices of raw materials and energy as well as the cost of living and are likely to temper the consumer climate. The Company will therefore place greater emphasis on maintaining core profitability versus sales growth in the current fiscal year, while continuing its current approach to customer acquisition.
The imminent acquisition of Butlers will have a positive impact: this strategic investment allows home24 to reach 40 million visitors per year. The Company will thus focus on factors that can be directly influenced, such as product line expansion, own-brand expertise and market positioning. Investing in an organized marketplace for third-party sellers is also part of this strategy, which will enable home24 to tap further growth potential.
Based on weakening market demand in the first quarter and macroeconomic uncertainty factors, the forecast is broadly defined and will be refined over the course of the year. Looking ahead today, home24 forecasts currency-adjusted revenue growth rates of +2% to +17% and adjusted EBITDA margin of +1% to +5% for fiscal year 2022.

Focus on strengthening market position

“The past year was once again characterized by unprecedented challenges, during which we were once again faced with restrictions and economic uncertainties. Nevertheless, home24 has again shown the resilience of our model company and our strategy, as we have once again managed to grow profitably – even considering that the home and living market in Germany has shrunk. active customers at 2.3 million Our annual results highlight that online purchases of home and living products continue to gain market share over offline retail, and that we offer an attractive offer .service and significant added value for our customers,” says Marc Appelhoff, CEO of home24. “Regardless of market uncertainties, we are focused on strengthening our market position and creating c continue to offer better products and services for our customers. The acquisition of Butlers and the development of an organized market are the main cornerstones of this strategy. We believe we are well positioned to continue to grow our business, even in the face of current stresses, while continuing to follow a sustainable growth trajectory.”

THE MOST RELEVANT FINANCIAL FIGURES AT A GLANCE

Financial KPIs

Unity

2021

2020

Change

Income

in millions of euros

615.5

419.9

25%

Revenue growth at constant exchange rate

in %

27%

42%

-15pp

Gross margin

in %

43%

46%

-3pp

Profit contribution margin

in %

27%

29%

-2pp

Adjusted EBITDA margin

in %

0%

3%

-3pp

Cash flow from operating activities

in millions of euros

-63.1

32.0

>- 100%

Cash flow from investing activities

in millions of euros

-20.0

-11.4

75%

VScash flows from financing activities

in millions of euros

110.4

37.4

>100%

Cash and cash equivalents at the end of the period

in millions of euros

131.1

103.1

27%

Non-financial KPIs

Unity

2021

2020

Change

Order number

ink

3.298

3.243

2%

Average order value

in euros

261

235

11%

Number of active customers (as of December 31)

ink

2.276

2.174

5%

Employees (as of December 31)

Number

2.084

1.759

18%

—TO FINISH—

ABOUT HOME24

home24 is one of the leading home and living e-commerce platforms in continental Europe and Brazil. With over 150,000 home and living products in Europe and over 200,000 items in Latin America, home24 offers a unique selection of small and large furniture, garden furniture, mattresses and lighting. This large curated assortment offers customers a significant value proposition in terms of value for money. home24 is headquartered in Berlin and employs over 2,000 people worldwide. The Company is active in seven European markets: Germany, France, Austria, Netherlands, Switzerland, Belgium and Italy. home24 is also active in Brazil under the “Mobly” brand. In Europe, the Company delivers its products – regardless of their size and weight – free of charge to its customers’ homes and also offers free returns. home24’s product range consists of many brands, including a large number of private labels. home24 is listed on the Frankfurt Stock Exchange (ISIN DE000A14KEB5). Mobly shares are traded on Brazil’s Novo Mercado 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
[email protected]

INVESTOR CONTACT:
Philip Steinhauser
[email protected]

LEGAL DISCLAIMER:

This publication contains forward-looking statements. These statements are based on the opinions, expectations, assumptions and current information of the management of the Company. Forward-looking statements do not contain any guarantees as to the occurrence of future results and developments and are associated with known and unknown risks and uncertainties. Due to a variety of factors, actual results, developments and future events may differ materially from those described in these statements; neither the Company nor any other person accepts any responsibility for the accuracy of the opinions or underlying assumptions contained in this publication. The Company undertakes no obligation to update any forward-looking statements contained in this publication.

31.03.2022 Dissemination of a Corporate News, transmitted by the DGAP – a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

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