DGAP-News

BIKE24 with strong half-year results after IPO: Sales increase by 44%, adjusted EBITDA improves by 83% to EUR 18.9 million

DGAP-News: BIKE24 Holding AG / Key word(s): Half Year Results/Half Year Report BIKE24 with strong half-year results after IPO: Sales increase by 44%, adjusted EBITDA improves by 83% to EUR 18.9 million 12.08.2021 / 07:31 The issuer is solely responsible for the content of this announcement. BIKE24 with strong half-year results after IPO: Sales increase by 44%, adjusted EBITDA improves by 83% to EUR 18.9 million

• With an increase of 41.8% to 792,000 active customers, strong upward trajectory in new customer acquisition
• Orders rise to 908,000 compared to 677,000 over the same period last year
• Adjusted EBITDA margin improves from 11.7% to 14.9% during the reporting period
• Expansion in Southern Europe is being driven forward

Dresden, Germany, 12 August 2021. All signs are once again pointing to growth for BIKE24 in the first half of 2021. The continuing high demand for equipment, spare parts, clothing and bikes meant a 44 percent increase in sales in the first six months of the year compared to the same period 2020 for the e-commerce platform. After a successful IPO, which provided Bike24 Holding AG with fresh capital, the company is now continuing to advance its expansion plans in Southern Europe. Management has made an initial preselection in the company's search for a suitable warehouse location in Spain. In addition, the team is currently working at full speed on the relaunch of its online shop, which is scheduled to go live in autumn 2021.

"We have had an eventful and very successful first half-year behind us, which culminated in the IPO at the end of June," reports Andrés Martin-Birner, co-founder and CEO of BIKE24. "Thanks to our forward-looking procurement policy, our strengthened supplier relationships and a strong team performance, we were able to master the challenges that supply bottlenecks and delays in the supply chain pose to our industry."

Tailwinds continue for bicycle market

The desire for green mobility and a high level of interest in outdoor activities continued to drive demand for bicycles and related parts, equipment and clothing in the first half of the year. BIKE24 continued to benefit from this trend thanks to its broad product portfolio and was able to record a 44% increase in sales compared to the same period 2020. At the same time, the less price-intensive competition also had a clear positive effect on the earnings situation. The number of active customers as of the reporting date of 30 June 2021 was 792,000, an increase of 41.8% compared to the same period last year. The number of orders in the reporting period increased accordingly to 908,000 after 677,000 in 2020. The share of orders from returning customers increased once again to 74.4% (H1 2020: 72.8%), which highlights the high level of customer loyalty.