windeln.de AG
windeln.de Remains on Course in Third Quarter - Seite 2
excluding feedo). As of the fourth quarter, this segment will also include
bebitus. The Shopping Clubs segment (formerly windelbar) grew by 114
percent to EUR 12.4 million and now includes nakiki.it, which was launched
in August for the Italian market.
Profitability Meets Expectations
The Group's gross profit from sales increased to EUR 30.2 million. This
corresponds to a gross margin of 25.5 percent (9M 2014: EUR 15.3 million or
22.7 percent). Despite the first-time consolidation of the acquired company
feedo, which still has a low share of high-margin consumer goods, the Group
exceeded the forecast of approximately 25 percent for the year as a whole.
The adjusted EBIT margin1 improved to -8.1 percent from -10.0 percent in
the first nine months of the prior year (improvement to -7.3 percent
excluding feedo). In terms of sales costs, windeln.de continues to profit
from economies of scale. At the same time, however, additional costs were
incurred in the third quarter at windelbar due to the expansion of storage
capacities. windeln.de is also intensifying its marketing efforts in order
to increase brand awareness. The other administrative costs of 15.4 percent
of revenue represent a slight decrease over the prior year as well as the
second quarter.
After nine months, the German Shop segment achieved a markedly positive
adjusted EBIT margin of 4.0 percent, even though it was slightly lower in
the third quarter mainly due to the introduction of direct delivery and
resulting revenue shifts. The International Shops segment was able to
improve profitability, while the Shopping Club segment came in slightly
below the level of the prior year due to the aforementioned expansion
costs.
Goals to Be Reached
For all of 2015, windeln.de, including feedo and taking the additional
consolidation of bebitus into account, expects a revenue increase of
approximately 75 percent compared to EUR 101 million in the prior year, a
gross margin of approximately 25 percent and an adjusted EBIT margin of -8
to -7 percent.
Overview of figures for the first nine months
9M 2015 9M 2014 Q3 2015 Q3 2014
Revenues (in EUR million) 118.3 67.1 43.3 26.5
Revenues by business segment (in EUR million)
German Shop 97.2 59.0 32.7 23.2
International Shops 8.8 2.4 5.4 0.9
Shopping Clubs 12.4 5.8 5.1 2.4
Revenues by region (in EUR million)
DACH region 51.3 28.7 18.8 11.4
China 61.4 37.1 20.3 14.5
Other/Rest of Europe 5.6 1.3 4.2 0.6
Gross profit (in EUR million) 30.2 15.3 10.6 6.0
in % of revenues 25.5 22.7 24.4 22.8
Adjusted EBIT (in EUR million) -9.6 -6.7 -5.6 -2.3
in % of revenues -8.1 -10.0 -13.0 -8.6
corresponds to a gross margin of 25.5 percent (9M 2014: EUR 15.3 million or
22.7 percent). Despite the first-time consolidation of the acquired company
feedo, which still has a low share of high-margin consumer goods, the Group
exceeded the forecast of approximately 25 percent for the year as a whole.
The adjusted EBIT margin1 improved to -8.1 percent from -10.0 percent in
the first nine months of the prior year (improvement to -7.3 percent
excluding feedo). In terms of sales costs, windeln.de continues to profit
from economies of scale. At the same time, however, additional costs were
incurred in the third quarter at windelbar due to the expansion of storage
capacities. windeln.de is also intensifying its marketing efforts in order
to increase brand awareness. The other administrative costs of 15.4 percent
of revenue represent a slight decrease over the prior year as well as the
second quarter.
After nine months, the German Shop segment achieved a markedly positive
adjusted EBIT margin of 4.0 percent, even though it was slightly lower in
the third quarter mainly due to the introduction of direct delivery and
resulting revenue shifts. The International Shops segment was able to
improve profitability, while the Shopping Club segment came in slightly
below the level of the prior year due to the aforementioned expansion
costs.
Goals to Be Reached
For all of 2015, windeln.de, including feedo and taking the additional
consolidation of bebitus into account, expects a revenue increase of
approximately 75 percent compared to EUR 101 million in the prior year, a
gross margin of approximately 25 percent and an adjusted EBIT margin of -8
to -7 percent.
Overview of figures for the first nine months
9M 2015 9M 2014 Q3 2015 Q3 2014
Revenues (in EUR million) 118.3 67.1 43.3 26.5
Revenues by business segment (in EUR million)
German Shop 97.2 59.0 32.7 23.2
International Shops 8.8 2.4 5.4 0.9
Shopping Clubs 12.4 5.8 5.1 2.4
Revenues by region (in EUR million)
DACH region 51.3 28.7 18.8 11.4
China 61.4 37.1 20.3 14.5
Other/Rest of Europe 5.6 1.3 4.2 0.6
Gross profit (in EUR million) 30.2 15.3 10.6 6.0
in % of revenues 25.5 22.7 24.4 22.8
Adjusted EBIT (in EUR million) -9.6 -6.7 -5.6 -2.3
in % of revenues -8.1 -10.0 -13.0 -8.6
Aktuelle Themen
Weitere Artikel des Autors
1 im Artikel enthaltener WertIm Artikel enthaltene Werte