DGAP-News

Westwing Group AG: Capital Markets Day 2021 - Westwing targets EUR 1 billion in revenue and more than EUR 100 million in Adj. EBITDA profitability by 2024/25 - Seite 3

Strong financial start in Q1 2021

The Company's performance in the first quarter of 2021 proves how well the business model scales and how the consumer love brand strategy leads to highly attractive financial results. Westwing generated revenues of EUR 138 million (Q1 2020: EUR 68 million), achieving a very strong growth of 105% compared to the previous year. The Company's profitability improved significantly with an Adj. EBITDA of EUR 20 million (Q1 2020: EUR -1 million) and an Adj. EBITDA margin of 14.2% in Q1 2021 (Q1 2020: -1.8%). The Free Cash Flow in the first quarter of 2021 was EUR 14 million (Q1 2020: EUR -6 million), with a last-twelve-months Free Cash Flow of EUR 60 million at a 12% margin. Growth continues to be driven by high retention of existing customers as well as successful new customer acquisition, with a 102% increase of new customers compared to the first quarter of 2020.

Furthermore, Westwing released a trading update for the second quarter 2021 with GMV growth of c. 15% Q2 to date while comparing against very strong peak baseline of last year.

Based on strong Q1 2021 and Q2TD results, the guidance for FY 2021 of EUR 510-550 million revenue (18-27% year-over-year growth) and an Adj. EBITDA of EUR 42-55 million (Adj. EBITDA margin of 8-10%) is being confirmed.

 

Live broadcast of the Capital Markets Day

Today's Capital Markets Day of Westwing will be broadcasted via live stream starting at 3:00 PM CEST on the Company's investor relations website: https://ir.westwing.com. The recording of the live stream will be available thereafter at this site.

	Q1 2021	Q1 2020	Change
Results of operations
Revenue (in EUR m)	138	68	+105%
Adj EBITDA (in EUR m)	20	-1	+21
Adj EBITDA margin (in % of revenue)	14.2%	-1.8%	+16 pp
Key performance indicators
Westwing Collection share (in %)	31%	25%	+6 pp
GMV (in EUR m)	164	85	+92%
Number of orders (in k)	1,268	675	+88%
Average basket size (in EUR)	129	127	+2%
Active customers LTM (in k)	1,720	986	+74%
Average orders per active customer LTM	2.7	2.5	+6%
Average GMV per active customer LTM (in EUR)	337	324	+4%
Mobile visit share (in %)	79%	76%	+3 pp

 

Note: All figures are unaudited.