DGAP-News

Westwing reports very strong Q3 2020 results based on a continued accel-erated shift towards eCommerce; 66% revenue growth and 11% Adj EBITDA margin

DGAP-News: Westwing Group AG / Key word(s): 9 Month figures Westwing reports very strong Q3 2020 results based on a continued accel-erated shift towards eCommerce; 66% revenue growth and 11% Adj EBITDA margin 10.11.2020 / 08:00 The issuer is solely responsible for the content of this announcement. Westwing reports very strong Q3 2020 results based on a continued accelerated shift towards eCommerce; 66% revenue growth and 11% Adj EBITDA margin

• Growth in the third quarter 2020 continued on very high levels, further indicating an accelerated eCommerce shift
• Elevated growth again driven by both, existing customers with higher engagement and repurchase behaviour and a very strong new customer acquisition
• Strong Q3 financial results: Revenue growth of 66%, Adj EBITDA margin of 10.9%, and EUR 7m Free Cash Flow during the seasonally weaker summer quarter
• Amid an escalating COVID-19 situation in Europe, health & safety remain Westwing's number one priority

Munich, November 10, 2020 // Westwing, the leader in inspiration-based Home and Living eCommerce in Europe, today announced the results for the third quarter of 2020.

Based on an accelerated Home and Living eCommerce adaption, Westwing continued to realize strong growth rates in the third quarter 2020 with GMV growing 59% year-over-year. The International Segment was growing at even slightly higher growth rates of 67% GMV growth year-over-year, further strengthening the progress made across the whole country portfolio. On the customer side, growth was driven by all cohorts as existing customers showed continued higher engagement and repurchase rates, while new customer acquisition remained very strong with 68% more new customers compared to the third quarter 2019. As a result, the number of Active Customers having made at least one order in the last twelve months ending September 2020 increased to 1.3m, growing by 39% year-over-year.