DGAP-News

elumeo SE gets off to a good start in financial year 2021 - Seite 2

The pending action for damages brought by SWM Treuhand AG against elumeo SE will continue to have no bearing on the final figures for the past financial year 2020. The hearing on this matter took place on 24 February at the Berlin Regional Court. Based on the hearing, elumeo SE continues to assume that the lawsuit has no chance of success. The pronouncement of judgment has now been scheduled for 31 March 2021. elumeo SE expects the written reasons for the judgment to be available three weeks later at the latest.

In order to be able to correctly present the outcome of the proceedings in the 2020 Annual Report, the management has decided, in consultation with the auditors, not to publish it until 22 April 2021, when the written grounds for the judgment are available. All information provided to date on the course of financial year 2020 has been confirmed by the auditor as part of the annual audit thus far.

elumeo SE significantly increased its revenue, gross profit and earnings in financial year 2020. Compared to financial year 2019, revenue increased by 9% from EUR 39 million to EUR 42 million. At the same time, the gross profit margin improved from 48.2% in 2019 to 52.6% in 2020. The figures for revenue and gross profit in 2019 are adjusted for the closed site in Rome. In connection with the cost-cutting programme completed in 2020, elumeo again generated clearly positive segment EBITDA of EUR 0.9 million in the past financial year and thus returned to profitability one year earlier than expected.

About elumeo SE:

The Berlin-based elumeo Group is the leading European company in the electronic distribution of high-quality gemstone jewelry that is mainly produced in India and Thailand. Through a variety of electronic sales channels (such as TV, the Internet, smart TV and smartphone app), the listed company offers its customers primarily coloured gemstone jewelry at low prices. Sales are made via direct distribution. For example, the elumeo Group operates home shopping TV channels in Germany and Italy as well as web shops in Germany, the UK, Italy, France, the Netherlands, Spain and Belgium.