DGAP-News

windeln.de SE: windeln.de announces preliminary financials for 2020 with 8.6% revenues growth and modest adj. EBIT improvement year over year; adj. EBIT break-even target updated to full year 2022; further cost measures to be executed

DGAP-News: windeln.de SE / Key word(s): Change in Forecast windeln.de SE: windeln.de announces preliminary financials for 2020 with 8.6% revenues growth and modest adj. EBIT improvement year over year; adj. EBIT break-even target updated to full year 2022; further cost measures to be executed 01.02.2021 / 08:08 The issuer is solely responsible for the content of this announcement.

- Preliminary revenues of EUR 76.1 million for continued operations in 2020 which equals +8.6% growth year over year (slightly below double-digit revenue growth target)

- 2020 target of modest adj. EBIT improvement year over year reached based on preliminary financials

- Adj. EBIT break-even target early 2021 cannot not be reached as growth in China takes longer; adj. EBIT break-even targeted for full year 2022

- Further cost-efficiency measures to be implemented in 2021

- Cash and cash equivalents EUR 8.5 million as of December 31, 2020

Munich, February 01, 2021: Based on preliminary financials for 2020 windeln.de SE ("windeln.de", "Group" or "Company"; ISIN DE000WNDL201 and DE000WNDL128) revenues for continued operations for 2020 grew from EUR 70.1 million in 2019 to EUR 76.1 million in 2020. This equals +8.6% revenues growth year over year and is therefore lower than the targeted double-digit growth. Based on preliminary financials, the Company's revenues in China grew from EUR 51.3 million in 2019 to EUR 56.0 million in 2020 (+9.2% growth year over year). Growth has been lower than targeted given that market conditions in China - also in the 4^th quarter 2020 - were less favorable than expected and building up new distribution channels takes more time. In addition, the process for duty-paid deliveries from Germany to China had to be redesigned and rolled out in December 2020, after it was inactive for several months due to new regulatory and technical requirements from Chinese customs. Throughout the last year, windeln.de built up a local team in China which is crucial for the further success of our Chinese business as it contributes more than 70% of the Company's revenues. windeln.de successfully opened a new online shop on the Chinese market platform "JD.com" in December 2020. On January 29, 2021 the Company also announced the appointment of Chris Reitermann as member of the supervisory board who is a very experienced manager/CEO in Chinese E-Commerce. Financial performance in China in January this year has been promising and the Company expects significant revenue growth for the full year 2021.