DGAP-News: home24 SE: Trading Update: home24 revises outlook for 2020 upward after very strong Q2 2020

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Significant improvement in profitability with positive adjusted EBITDA throughout the first half of 2020, not only in Q2 2020 as previously announced.

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  • Significant improvement in profitability with positive adjusted EBITDA throughout the first half of 2020, not only in Q2 2020 as previously announced.
  • Cash position improved to c. EUR 46 million at the end of Q2 (Q1 2020: EUR 43 Million).
  • The outlook for 2020 is revised upward: home24 plans with a currency-adjusted revenue growth of at least +15% (previously in the range of +10% to +20%).
  • Berlin, 1 July 2020 - home24 SE ("home24", the "Company") expects a significant currency-adjusted revenue growth of c. 45% in Q2 2020 based on preliminary financials.



DGAP-News: home24 SE

/ Key word(s): Change in Forecast/Preliminary Results


home24 SE: Trading Update: home24 revises outlook for 2020 upward after very strong Q2 2020

01.07.2020 / 01:00

The issuer is solely responsible for the content of this announcement.


Trading Update: home24 revises outlook for 2020 upward after very strong Q2 2020

  • Q2 2020 order intake c. 70% in constant currency above Q2 2019, as the strong momentum of April extended throughout the quarter, resulting based on preliminary financials in significant Q2 2020 currency-adjusted revenue growth c. 45%, with relevant part of the Q2 order volume flowing into Q3 revenue.
  • Significant improvement in profitability with positive adjusted EBITDA throughout the first half of 2020, not only in Q2 2020 as previously announced.
  • Strong business performance in Q2 2020 also translates into positive cashflow development. Cash position improved to c. EUR 46 million at the end of Q2 (Q1 2020: EUR 43 Million).
  • The outlook for 2020 is revised upward: home24 plans with a currency-adjusted revenue growth of at least +15% (previously in the range of +10% to +20%). In addition, the Company expects a positive adjusted EBITDA margin (previously in a range of plus to minus 2%).

Berlin, 1 July 2020 - home24 SE ("home24", the "Company") expects a significant currency-adjusted revenue growth of c. 45% in Q2 2020 based on preliminary financials. Including currency effects, revenues increased by c. 40%. The positive development in April continued throughout the quarter as the re-opening of physical stores had limited effect on the strong momentum. Order intake increased by c. 70% adjusted for currency effects compared to Q2 2019 driven by customers spending more time in their home in the wake of the COVID 19 pandemic. Part of the orders received in Q2 2020 will be delivered in the following months, thus also positively impacting revenues in Q3 2020.

The adjusted EBITDA was positively affected by the topline momentum and the resulting marketing efficiency and operating leverage effects. As a result, Q2 2020 will be the most profitable quarter in the Company's history, and as a consequence also the H1 2020 adjusted EBITDA is expected to be clearly positive.

The Company's cash flow was positively impacted by the operational profitability in Q2 2020. The cash position increased to c. EUR 46 million at the end of Q2 2020.

Upgraded financial outlook

On the basis of the strong first half of 2020 and in absence of a significant detrimental macro-economic development caused by the COVID-19 pandemic, the Company is revising its outlook upward for the full year and is now expecting a currency-adjusted revenue growth of at least +15% (previously in the range of +10% to +20%). In addition, the Company expects a positive adjusted EBITDA margin (previously in a range of plus to minus 2%).

home24 will publish its full financial figures for the first half of 2020 on August 18, 2020.

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About home24

home24 is a leading pure-play home & living e-commerce platform in Continental Europe and Brazil. With over 100,000 articles sourced from more than 500 manufacturers, 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 1,500 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). For more information, please visit the Company's website at www.home24.com.

Media contact:

Anne Gaida
anne.gaida@home24.de

+49 30 201 632 941 6

Investor contact:

Philipp Steinhäuser
ir@home24.de

+49 30 201 634 728

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.




01.07.2020 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

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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: 1083093



 
End of News DGAP News Service

1083093  01.07.2020 

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