DGAP-News

windeln.de optimizes warehouse logistics and successfully carries out capital increase

DGAP-News: windeln.de SE / Key word(s): Half Year Report/Capital Increase windeln.de optimizes warehouse logistics and successfully carries out capital increase 12.08.2021 / 07:00 The issuer is solely responsible for the content of this announcement.

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• H1 2021 sales EUR 33.3 million (33% decrease compared to EUR 50.0 million in H1 2020)
• Adjusted EBIT EUR -8.1 million (-24.5% adjusted EBIT margin) compared to EUR -3.8 million (-7.7% adjusted EBIT margin) in H1 2020
• Capital increase successfully implemented in Q1 and Q3 2021 to improve financial position 
• Forecast of key figures 2021 adjusted
• Warehouse relocation successfully completed; future logistics savings possible

Munich, August 12, 2021: windeln.de SE ("windeln.de", "Group" or "Company"; ISIN DE000WNDL201) today published its financial results for the first half year (H1) 2021. The Company generated revenues of EUR 33.3 million, a decrease of 33% compared to the first half of the previous year (EUR 50.0 million). Adjusted EBIT amounted to EUR -8.1 million in H1 2021 (H1 2020: EUR -3.8 million). 

The Bebitus business had not yet been sold as of the reporting date of June 30, 2021; however, it is still intended to sell the Southern European business. The business to be divested may no longer be classified as a discontinued operation under IFRS 5 after June 30, 2021; the figures for the previous year have been adjusted accordingly and include the Bebitus business.

Decline in sales in the target markets of Europe and China due to necessary warehouse relocation and delivery restrictions 
China generated sales of EUR 20.5 million in H1 2021, down 39% year-on-year (H1 2020: EUR 33.4 million). 

The significant decline in revenue is largely due to the unusually high revenue from the sale of hygiene products to corporate customers in the previous reporting period (EUR 7.0 million revenue in H1 2020, compared to EUR 765 thousand in H1 2021) as well as the VAT refunds for the China business recognized in 2020 for previous years (EUR 3.6 million). In addition, the temporary shipping constraints due to the relocation of the main warehouse as well as a low inventory level in the Chinese warehouses contributed significantly to the decline in turnover. Taking these special effects into account, the decline in turnover is in the low double-digit percentage range.