home24 SE: home24 reports revenues of EUR 140 million in Q1 and progresses well on key strategic projects

HOME24 REPORTS REVENUES OF EUR 140 MILLION IN Q1 AND PROGRESSES WELL ON KEY STRATEGIC PROJECTS

• Demand and profitability impacted by declining consumer sentiment.
• Revenue amounted to EUR 140 million in Q1 2022, a decrease of 14 % year-on-year in constant currency and 12 % excluding currency effects. Adjusted EBITDA margin for Q1 is -4 %.
• Outlook for 2022 unchanged at revenue growth of 2 % to 17 % and an adjusted EBITDA margin between +1 % to +5 %.
• home24 advances well with the Butlers integration and prepares the launch of a curated marketplace before the end of Q2.
• Investments into higher stock levels paying off to minimize the impact of supply chain disruptions and to ensure an attractive offering for customers.
   

BERLIN, 11 MAY 2022 – In the first quarter of 2022, home24 SE ("home24", the “Company") showed significant progress in its strategic initiatives to broaden the Company's positioning and to set grounds for future growth opportunities. This includes, most notably, the acquisition of the home accessories expert Butlers that closed on April 1, and groundwork for a curated marketplace, which is scheduled to launch in the summer of 2022. Meanwhile, consumer sentiment, which has been severely clouded by inflation and the Ukraine war, has also impacted home24's operating performance.

The Company generated revenues of EUR 140 million in the first quarter, which represents a 14 % decline in revenue at constant currency and a 12 % decline in revenue excluding currency effects, compared to the strong prior-year quarter (Q1 2021: +64 %). In Europe, the revenue decreased by 15 % to EUR 114 million compared to Q1 2021. In Brazil, the revenue in the same period amounted to EUR 27 million, a decrease of 8 % at constant currency; excluding currency effects, revenue increased by 4 %. The Company's adjusted EBITDA margin for the first quarter was -4 %.

In view of increasing prices for energy and food and the war in Ukraine, consumer sentiment is weakened. "We have strengthened several cornerstones of our business model to ensure that we remain a trusted destination for customers. These include the successful acquisition of Butlers, the launch of a curated marketplace for third-party sellers starting in the summer of 2022, and the replenishment of our warehouses," says Marc Appelhoff, CEO of home24.

In order to further retain customers who are possibly postponing the purchase of larger furniture in the current situation, the Company is strengthening its range of items that require lower spending. With the acquisition of Butlers, home24 has expanded its range to include a large number of low-priced home accessory items and also strengthened its own-brand expertise. The marketplace for third-party sellers launching in summer 2022 will also expand home24's range of home accessories and close gaps in the existing offering. So far, home24 has signed up sellers in the high double-digit range. In addition, the Company has stocked up its bestsellers and thus is in a position to deliver quickly and reliably despite continued global disruptions in the supply chains.

For the second quarter, home24 expects improved revenue and earnings figures – partly due to the first-time integration of Butlers into the consolidated financial statements from April 1, 2022.
 

MOST RELEVANT FINANCIAL FIGURES AT A GLANCE

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ABOUT HOME24
home24 is a leading pure-play home & living e-commerce platform in Continental Europe and Brazil. With over 150,000 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 more than 2,000 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 100 stores in the DACH region and additional 32 in the rest of Europe. home24's product range consists of numerous brands, including a large number of private labels. home24 is listed on the Frankfurt Stock Exchange (ISIN DE000A14KEB5). Mobly's stock is traded on the Brazilian Novo Mercado of B3 (ISIN BRMBLYACNOR5). For more information, please visit the Company's website at www.home24.com.

COMPETENT PERSON FOR THIS PUBLICATION:
Fiona Kleinert
Communications Manager
+49 30 2016 329 418

PRESS CONTACT:
Fiona Kleinert
fiona.kleinert@home24.de

INVESTOR CONTACT:
Philipp Steinhäuser
ir@home24.de

LEGAL DISCLAIMER:

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.