EQS-News: home24 SE
/ Key word(s): Annual Report/Annual Results
home24 reports sales of EUR 601 million in 2022 at improved profitability
BERLIN, 30 March 2023 – In 2022, home24 SE ("home24", "the company") increased its earnings and kept sales almost constant. The company thus met its guidance from mid-2022 despite the heavily clouded consumer sentiment. Group revenue totaled EUR 601 million, down 5% on the previous year's figure of EUR 616 million at constant currency. home24 had guided a revenue development of -7 % to +3 % at mid-year 2022. Adjusted EBITDA showed a favorable development. Compared to the previous year, it improved significantly to EUR 15.2 million in 2022 (previous year EUR 1.5 million), with an adjusted EBITDA margin of 2.5 %, and was thus also in the expected target range of 1 % to 5 %.
"We took early action to respond to the challenging market environment and achieved a good result in 2022 in the context of broader market development," says CEO Marc Appelhoff. In an environment that has been clouded by weak consumer sentiment and has become very challenging for market participants, home24 adjusted purchasing volumes early on so that there was no significant selling pressure. In a market environment that has been clouded by weak consumer sentiment and turned challenging, home24 adjusted purchasing volumes early to prevent significant pressure for sell-offs. By focusing on the levers of business that were influenceable, margins were continuously improved over the course of the year and, in combination with a moderate reduction in fixed costs, resulted in an effective response to the reduced online demand. The successful integration of Butlers and the launch of the home24 marketplace also contributed to the company holding its own very well in the market.
The bidders for the XXXLutz Group submitted the notification for the merger control clearance procedure at the beginning of March. The merger control procedure is expected to be completed in the second quarter of 2023. Together with the XXXLutz Group, home24 intends to continue its successful path as an innovative company. "We see home24 very well positioned as a leading platform in the home & living market. Our offering is both extensive and curated, and we are steadily expanding this range. As a technology-driven e-commerce company, we focus on effectively linking our online business with our offline activities, especially the Butlers stores in city centers," says Appelhoff. In 2023, home24 will further expand the "homeCLUB" customer loyalty programme and integrate selected furniture from home24 in many Butlers shops. Additional suppliers are also to be selectively acquired for the home24 marketplaces in Germany, France, Austria and Switzerland.
"After yet another challenging year, our gratitude goes to our home24 employees who have done an outstanding job in uncertain times," says Marc Appelhoff. Strengthened by its new principal shareholder, home24 intends to continue acting as an innovative shaper of the market and an attractive employer.
home24 is a leading pure-play home & living e-commerce platform in Continental Europe and Brazil. With over 250,000 home & living products in Europe and more than 200,000 articles in Latin America, home24 offers a unique selection of large and small furniture pieces, garden furniture, mattresses and lighting. This curated, broad assortment offers a significant value-for-money value proposition to customers. home24 is headquartered in Berlin and employs around 3,000 people worldwide. The Company is active in seven European markets: Germany, France, Austria, the Netherlands, Switzerland, Belgium and Italy. home24 is also active in Brazil under the Mobly brand. The group also includes the lifestyle brand Butlers with around 100 stores in the DACH region and additional 25 in the rest of Europe. home24’s product range consists of numerous brands, including a large number of private labels. For more information, please visit the Company’s website at www.home24.com.
This publication contains forward-looking statements. These statements are based on the current views, expectations, assumptions and information of the Company’s management. Forward-looking statements contain no guarantee for the occurrence of future results and developments and are associated with known and unknown risks and uncertainties. Due to various factors, actual future results, developments and events may differ materially from those described in these statements; neither the Company nor any other person accepts any responsibility whatsoever for the accuracy of the opinions or underlying assumptions contained in this publication. The Company assumes no obligation to update the forward-looking statements contained in this publication.
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