EQS-Adhoc

Bike24 Holding AG: Release of preliminary financial results for the fiscal year 2023 and for the fourth quarter of fiscal year 2023

EQS-Ad-hoc: BIKE24 Holding AG / Key word(s): Preliminary Results/Quarterly / Interim Statement Bike24 Holding AG: Release of preliminary financial results for the fiscal year 2023 and for the fourth quarter of fiscal year 2023 28-Feb-2024 / 17:40 CET/CEST Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by EQS News - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement. Disclosure of an inside information according to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by DGAP

Bike24 Holding AG: Release of preliminary financial results for the fiscal year 2023 and for the fourth quarter of fiscal year 2023

ISIN: DE000A3CQ7F4
WKN: A3CQ7F
Stock exchange code: BIKE
LEI: 894500FCLU2M5GTUUR76
Listed: Regulated Market in Frankfurt am Main (Prime Standard)

Dresden, February 28, 2024 //

According to preliminary calculations, Bike24 Holding AG (the "Company") achieved a year-on-year change in revenue of -13.5% and an adjusted EBITDA margin of -1.3% at Group level in financial year 2023.

In the fourth quarter of 2023, the year-on-year change in revenue amounted to -21.8% (Q4 2022: +2.8%) and the adjusted EBITDA margin to -7.0% (Q2 2022: -3,1%).

In the full-year forecast as adjusted on October 25, 2023, the Company still assumed a decline in revenue growth of between -16% to -11% and an adjusted EBITDA margin of between -1% and +1%.

While the change in revenue is in line with the forecast according to preliminary calculations, the adjusted EBITDA margin is below the forecast.

The main reason for this is a higher write-down of inventories (December 31, 2023: EUR 5.0 million vs. December 31, 2022: EUR 2.8 million) which also significantly influenced the result of the fourth quarter of fiscal year 2023. Inventories were built up significantly during the pandemic and due to supply chain problems at this time. Due to the macroeconomic conditions, consumer sentiment and thus demand weakened considerably. The Company succeeded in significantly reducing inventories (December 31, 2023: EUR 71.3 million; December 31, 2022: EUR 84.3 million – in each case after write-downs). Nevertheless, there are individual product groups in which there are still overcapacities. In addition, the Company has adjusted the write-down methodology due to the current market situation, which has led to a higher need for write-down.