DGAP-News

windeln.de SE: windeln.de posts 21% revenue growth in fiscal year 2016; Q4 improved - Seite 3

Net working capital strongly improved over the previous year, amounting to around EUR 6.6 million (2015: EUR 11.4 million) on December 31, 2016. This was primarily due to inventory reduction in the third quarter of 2016, also in connection with discontinuing the Shopping Club segment. As of December 31, 2016, windeln.de's cash and cash equivalents (including time deposits) amounted to around EUR 56 million plus a borrowing base financing line.

Break-even expected in the course of fiscal year 2019

For 2017, the company is striving for a moderate double-digit increase in revenues. At the same time, special focus is being given to increasing profitability, supported by both the scale effects of revenues growth and the cost-cutting measures already initiated. The Group therefore expects a moderate improvement in the operating contribution margin and adjusted EBIT as a percentage of revenues, although the full effects of the measures implemented will not materialize until 2018. CFO Dr. Nikolaus Weinberger summarizes the medium-term goals as follows: "In an e-commerce market that is continuing to grow, we are planning to achieve average annual growth of at least 15%. We are pursuing the clear objective of breaking even on the basis of adjusted EBIT in the course of 2019."

 

Select key figures for fiscal year 2016 and for the fourth quarter of 2016 (excluding the discontinued Shopping Club segment)

	2016	2015	Q4 2016	Q4 2015
Revenues (EUR millions)	194.8	161.0	57.1	55.1
German Shop	139.0	140.3	41.7	43.1
International Shops	55.9	20.7	15.5	12.0
Adjusted EBIT (EUR millions)	-26.7	-9.3	-7.4	-3.9
in % of revenues	-13.7%	-5.8%	-12.9%	-7.1%
German shop	-1.6	5.6	-0.7	1.8
in % of revenues	-1.2%	4.0%	-1.8%	4.1%
International Shops	-11.4	-5.4	-2.9	-2.7
in % of revenues	-20.5%	-26.0%	-18.8%	-22.9%
Reconciliation to Group EBIT	-13.7	-9.5	-3.8	-3.0