EQS-News

home24 SE: home24 grows profitably in first quarter 2023

EQS-News: home24 SE / Key word(s): Quarterly / Interim Statement/Quarter Results home24 SE: home24 grows profitably in first quarter 2023 30.05.2023 / 08:45 CET/CEST The issuer is solely responsible for the content of this announcement.  home24 grows profitably in first quarter 2023

• Revenue increases to EUR 143.5 million, up 2.3% on previous year
• Adjusted EBITDA margin with positive trend at 2.3 percent
• Strategic investments continue to pay off: Marketplace drives order numbers and Butlers integration progresses successfully
• After successful takeover by bidders around XXXLutz Group, home24 plans delisting

BERLIN, 30 May 2023 – In the first quarter of fiscal year 2023, home24 SE ("home24", "the Company") increased its revenues to EUR 143.5 million (Q1 2022: EUR 140.2 million), up 2.3%. On a constant currency basis, growth was c. 1%. Adjusted EBITDA also improved significantly and is clearly positive at EUR 3.3 million (Q1 2022: EUR -6.1 million). This corresponds to an adjusted EBITDA margin of 2.3% (Q1 2022: -4.4%).

"Our strategy of supplementing strong private label brands around Butlers and Studio Copenhagen with a complementary marketplace offering is working well," says Marc Appelhoff, CEO of home24. This can be seen, among other things, in the number of orders, which is 7% higher than the previous year's figure. The integration of the Butlers omni channels is also being driven forward. In addition to the existing joint stores, e.g. in Berlin and Hamburg, further locations are currently being redesigned.

Supported by its new majority shareholder, home24 will further expand its investment projects and thus its market position as an independent company. As one of the leading online destinations for home&living, with a high level of technology and logistics expertise as well as an additional strong presence in city centers, home24 will also remain a leading innovator in the category.

With the acquisition of the majority of shares, which was recently completed, the companies around the XXXLutz Group are seeking a corresponding position on the company's Supervisory Board at the next regular Annual General Meeting. Furthermore, as announced, the intention is still to delist the home24 share from the stock exchange.