DGAP-News

windeln.de optimizes warehouse logistics and successfully carries out capital increase - Seite 2

Sales in Europe amounted to EUR 12.8 million in the first half of 2021. Compared to the same period of the previous year, this represents a decrease of 23% (H1 2020: EUR 16.7 million). 

In Europe, too, the decline in sales was significantly influenced by the relocation of the main warehouse, which led to lower availability of individual products in the months March to May 2021. The previous reporting period also saw a strong increase in orders due to the COVID 19 pandemic, which did not continue in the first half of 2021.

Reduced sales volume in China had a negative impact on earnings 
Gross profit margin decreased to EUR 5.3 million in the first half of 2021 (H1 2020: EUR 11.4 million). In the second quarter of 2020, the gross profit margin was EUR 7.0 million compared to EUR 2.4 million in the second quarter of 2021. 

Marketing costs recorded a slight increase from 3.1% of sales in the first half of 2020 to 4.5% in the current year.

The necessary warehouse relocation and the resulting increase in costs due to double stock management, combined with the reduced sales volume in the reporting period, are reflected in the fulfillment costs. These fell by 27 % to EUR 2.9 million (H1 2020: EUR 3.9 million), a smaller decrease compared to the decline in sales, and thus represent a slightly higher share as a percentage of sales in the first half of 2021 of 8.7 % (H1 2020: 7.9 %), which is also due to an increased share of end customer business in total sales compared to the previous year.

The significantly reduced sales volume ultimately also leads to an operating contribution margin at overall Group level of EUR 446 thousand, which thus corresponded to 1.3% of sales in the first half of 2021. In the previous reporting period, an operating contribution margin of EUR 6.5 million (13.1% of total sales) was recorded. 

In China, the contribution margin recorded a significant decline from EUR 6.6 million in the first half of 2020 to EUR 886 thousand in the reporting period. This development goes hand in hand with the significant decline in sales in the China segment and is also reflected in Europe during the reporting period - here, the operating contribution margin also developed negatively from EUR -75 thousand in the first half of 2020 to EUR -440 thousand in the first half of 2021.