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windeln.de AG: windeln.de Continues Growth in the First Quarter - China Impacts Outlook - Seite 2
outlook for the full year 2016 as communicated in the ad-hoc announcement
on May 18, 2016. windeln.de is forecasted year over year revenues growth of
around 30% for the full year 2016 and an adjusted EBIT margin of between
-10% and -12%. The gross profit margin is expected to be at least 28%.
The adjustment of the forecast is primarily based on the lower expected
revenues for China following changes made to the import regulations and
customs duties for goods deliveries to China. These changes were made by
the Chinese government in early April. windeln.de deliveries to China are
not directly affected by this, except for a moderate increase in customs
duties. However, Chinese customers are holding back foreign purchases in
the months of April and thus far in May due to uncertainty about certain
details and the effective implementation of the new regulation. "China
continues to be an important and attractive market for us which we want to
develop further in the second half of the year by opening a Tmall Shop,"
says Konstantin Urban, co-founder and board member of windeln.de. "With our
European countries continuing to grow above-average, we have built another
strong foothold in addition to our German and Chinese businesses."
The introduction of the ERP system will be almost completed at the end of
May leading to a negative impact on earnings in the second quarter.
Alexander Brand, co-founder and board member of windeln.de: "The
introduction of the ERP system has been a large and necessary project for
windeln.de. Already in the upcoming months it will significantly improve
operating performance and scalability of our business. This was an
essential investment in the future of windeln.de and its further growth."
Overview of figures for Q1 2016 and Q1 2015
May leading to a negative impact on earnings in the second quarter.
Alexander Brand, co-founder and board member of windeln.de: "The
introduction of the ERP system has been a large and necessary project for
windeln.de. Already in the upcoming months it will significantly improve
operating performance and scalability of our business. This was an
essential investment in the future of windeln.de and its further growth."
Overview of figures for Q1 2016 and Q1 2015
Q1 2016 Q1 2015*
Revenues (in EUR million) 52.1 35.6
Gross profit from sales (in EUR million) 14.9 9.1
in % of revenues 28.6 25.6
Adjusted EBIT (in EUR million) -7.7 -1.3
in % of revenues -14.8 -3.6
Revenues by business segment (in EUR million)
German Shop 34.8 30.7
International Shops 12.2 1.4
Shopping Clubs 5.1 3.5
Adjusted EBIT contribution by business segment (in EUR million)
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