DGAP-News elumeo SE continues positive business development from 2020
DGAP-News: elumeo SE / Key word(s): Quarterly / Interim Statement
elumeo SE continues positive business development from 2020
- Revenue in first quarter rises by more than 28% year-on-year
- Positive adjusted EBITDA in first quarter increases to EUR 1.0 million
- Group net result improves from EUR -1.3 million (Q1/2020) to EUR 0.8 million (Q1/2021)
- New feature of the Juwelo smartphone app launched
Berlin, 12 May 2021
elumeo SE has carried over the momentum from the previous year and gotten off to a successful start to financial year 2021. Revenue of the leading European company in the electronic distribution of high-quality gemstone jewelry rose by 28% compared to the previous year from EUR 10.3 million to EUR 13.2 million in the first quarter of 2021, while gross profit increased disproportionately by 56% from EUR 4.6 million to EUR 7.2 million. Adjusted EBITDA developed from EUR -1.1 million to EUR 1.0 million.
The traditional web shop again proved to be a growth driver. Its revenue rose by 41%, the increase in gross profit was 81%. However, the development of the German TV business also developed positively and managed to record the most successful first quarter in the company's history in terms of gross profit (Information based on merchandise management data).
Distribution costs rose by 4.8% in the first quarter of 2021. This was mainly due to increased investments in online marketing. Administrative costs increased by 16.3% QoQ, mainly due to higher
legal fees and warehouse maintenance.
To further strengthen sales activities and customer activation, elumeo launched a new feature of the high-reach Juwelo smartphone app shortly before Easter in 2021. The new moving image feature called "My Juwelo" optimises the sales process and makes a significant contribution to the user experience. Customers can now order their desired items conveniently and intuitively by simply swiping directly from the product video view. The Juwelo app uses an AI-controlled algorithm to tailor these to the individual customer's needs.