DGAP-News

home24 SE: home24 reports Q3 2020 with 54% revenue growth and 13%-points profitability improvement, and upgrades its guidance for FY 2020

DGAP-News: home24 SE / Key word(s): Quarterly / Interim Statement/Change in Forecast home24 SE: home24 reports Q3 2020 with 54% revenue growth and 13%-points profitability improvement, and upgrades its guidance for FY 2020 11.11.2020 / 07:50 The issuer is solely responsible for the content of this announcement. home24 reports Q3 2020 with 54% revenue growth and 13%-points profitability improvement, and upgrades its guidance for FY 2020

• home24 demonstrated currency-adjusted revenue growth to EUR 118 million in Q3 2020 of 54% year-over-year, driven by both new customer growth and existing customer engagement.
• At the same time, profitability improved by 13%-points in adjusted EBITDA year-over-year in Q3 2020, corresponding to an adjusted EBITDA margin of 4%.
• Cash flow was again positive in Q3 2020 and thus also during the last twelve months.
• Revenues amounted to EUR 339 million at constant currency in the first nine months of 2020 and grew by 38% year-over-year.
• Order intake increased by 45% in Q3 2020 at constant currency. In Q4 2020 the momentum stays positive: home24 is currently recording a currency-adjusted growth of the order intake at above 60%.
• home24 is upgrading its guidance for FY 2020 and now plans with currency-adjusted revenue growth in the range of 38% to 42% and adjusted EBITDA margin in a range of 2% to 4%.

Berlin, 11 November 2020 - In Q3 2020, home24 SE ("home24", the "Company") continued the successful development of the first half of the year 2020. Driven by a currency-adjusted order intake growth of 45% year-over-year and a partial spill-over of revenues from orders out of Q2 2020, the Company generated currency-adjusted revenues of EUR 118 million (previous year: EUR 85 million). This represents a currency-adjusted increase of 54% in comparison with the same quarter of the previous year. Due to the depreciation of the Brazilian Real against the Euro, the currency effects become increasingly significant in the financial figures. Including these currency effects, the Group's revenues of Q3 2020 were 39% higher than in the previous year's quarter. In Q3 2020, Brazil grew its revenues by 88% at constant currency to EUR 29 million compared to the same period of 2019, Europe by 42% to EUR 89 million.