27.11.2015
elumeo SE DE000A11Q059
DGAP-News: elumeo SE publishes its figures for the first nine months of 2015
DGAP-News: elumeo SE / Key word(s): 9-month figures
elumeo SE publishes its figures for the first nine months of 2015
27.11.2015 / 07:32
The issuer is solely responsible for the content of this announcement.
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elumeo SE publishes its figures for the first nine months of 2015
- Revenue growth of approximately 8%, eCommerce continues to drive growth
- Earnings and sales for the third quarter and for financial year 2015
impacted by one-off effects in the UK. Stock after inventory fully
confirmed
- Positive effects on the gross margin due to the new purchasing model do
not yet fully impact the quarterly results
- Growth can continue in 2016 thanks to the successful launch of
important projects and collaborations
Berlin, 27 November 2015 - elumeo SE, a leading electronic retailer of
gemstone jewelry in Europe, published its financial report for the first
nine months of financial year 2015 today. Compared with the same period of
the prior year, elumeo SE managed to increase its revenue by around 8%,
although unforeseen one-time special effects by relocating its UK
subsidiary Rocks and Co. to Birmingham from its previous site in Leamington
Spa had a negative impact on the operated business in the third quarter.
This effect will have an impact on the consolidated net income and revenue
in financial year 2015 as a whole.
"The reason for these difficulties was mainly of a technical nature. We
experienced delays in storage while moving to the new warehouse in
Birmingham. Our products were therefore not available for sale, which is
why sales and therefore earnings were significantly lower in the third
quarter. The regions of Germany and Italy were not affected significantly
by this, however," explained Wolfgang Boyé, Chairman of the Executive Board
of elumeo SE.
CFO and Spokesman for the Executive Board of elumeo SE, Bernd Fischer,
added, "In the meantime, all of these products have now been stored. There
are no differences in inventory. We already succeeded in increasing our
sales figures to the usual levels in November 2015. We do not expect any
after effects on the next financial year 2016 now that we have finished
looking into this matter."
Revenue in the reporting period increased by 8.2% to EUR 54.1 million
compared to the same period of the prior year (first nine months of 2014:
EUR 50.0 million). Here, the eCommerce segment was once again the growth
driver. Revenue from eCommerce sales rose by 62.8% to EUR 12.8 million from
EUR 7.9 million the prior year. Group revenue from TV sales declined
slightly to EUR 41.3 million in the reporting period compared to EUR 42.2
million for the same period last year. This represents a slight decrease of
2.1%. Due primarily to the non-recurring items related to the move in the
UK in the third quarter of 2015, adjusted EBITDA for the first nine months
of 2015 was impacted and amounted to EUR -1.1 million (prior-year period:
EUR 2.8 million). Non-recurring items during the reporting period were
mainly related to administrative expenses caused by losses from currency
translation of EUR 0.3 million (prior-year period: EUR 0.9 million) from
the IPO and restructuring costs of EUR 0.7 million (prior-year period: EUR
0.3 million), as well as extraordinary expenses in connection with
relocating the headquarters of the British subsidiary in the amount of EUR
0.2 million (prior-year period: EUR 0 million).
"For 2015 as a whole, we expect consolidated sales to be slightly above
last year's figure of EUR 70.8 million and a positive adjusted EBITDA.
Negative group result cannot be ruled out, however. Several important
projects and measures have already been initiated that should have a
positive impact on the business as early as financial year 2016. We
therefore see elumeo continuing on its grow course," Bernd Fischer
emphasized.
One of these measures was the implementation of a new model for procuring
raw materials, gemstones, in particular. This model could be realized
thanks to elumeo SE's IPO in July 2015, also the implementation has already
been largely completed. Here, the existing warehouse has been enhanced by
adding a dynamic system that can process incoming and outgoing goods in
higher volumes faster. The products that have been sourced and produced
under the new model have a gross margin of around 57%. By implementing it
to an even greater extent, the share of products that are manufactured
based on this model will be continuously increased. This should also
gradually increase the Group's gross profit margin.
elumeo SE made significant progress with other projects as well. For
example, the domain schmuck.de that elumeo acquired was successfully
integrated with effect from 1 October 2015. elumeo SE has thus not only
increased its online presence in Germany, but also now offers an extended
product range designed to appeal to the younger generation, in particular.
Its subsidiary Juwelo Deutschland's cooperation with the gemstone jewelry
line JAHDO is yet another project aimed at sustainably strengthening
awareness of Juwelo and should therefore contribute positively to the
business. Fully automated warehouses at the sites in Germany, Italy and
Great Britain were also put into operation just recently. This should
increase the efficiency of internal logistics processes and thus
sustainably improve the Group's profitability. Furthermore, a new factory
opened and was put into operation in Thailand in mid-November. elumeo SE
expects more efficient workflows in the area of jewelry production, which
should have a positive impact on the gross margin due to higher capacity
and by implementing the most modern technological standards.
The complete report on the third quarter and the first nine months of 2015
is available for downloading starting today on the company's website
http://www.elumeo.com in the Investor Relations / Financial Reports
section.
About elumeo SE:
The elumeo Group, which has its headquarters in Berlin, is a leading
European online retailer of high-quality gemstone jewelry, which the Group
produces in Thailand. The publicly traded company elumeo offers its
customers in Europe colored gemstone jewelry at comparatively low prices
via a number of electronic distribution channels (including television, the
Internet, smart TV and a smartphone app). Its distribution model relies
exclusively on direct sales made via the elumeo Group's home-shopping TV
channels in Germany, the UK and Italy, and via online stores in Germany,
the UK, Italy, France, the Netherlands, Spain, Belgium and the USA. Lower
cost items are marketed to customers worldwide via the Hong Kong-based "New
York Gemstones" online stores. Furthermore, the company will now also be
offering a full line of jewelry on schmuck.de.
The elumeo Group's product range includes jewelry made from a variety of
different gemstones, with some of the pieces designed partly by the
customers themselves. The Group is also represented in the market for
high-end gemstone jewelry with its premium brand AMAYANI.
The elumeo Group was founded in Berlin, Germany, and Chanthaburi, Thailand,
as a joint venture in 2008 and has grown very successfully ever since. In
2014, the companies that comprised the Group underwent a formal merger to
bundle the operating business under the holding company elumeo SE. The
elumeo Group employs approximately 1,100 people at five different locations
worldwide.
Contact:
elumeo SE
Investor Relations
Alexander Enge
Erkelenzdamm 59/61, 10999 Berlin
Phone: +49 30 69 59 79-231
Fax: +49 30 69 59 79-650
e-mail: [email protected]
http://www.elumeo.com
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27.11.2015 Dissemination of a Corporate News, transmitted by DGAP - a
service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
The DGAP Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
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Language: English
Company: elumeo SE
Erkelenzdamm 59/61
10999 Berlin
Germany
Phone: +49 30 69 59 79-0
Fax: +49 30 69 59 79-20
E-mail: [email protected]
Internet: www.elumeo.com
ISIN: DE000A11Q059
WKN: A11Q05
Listed: Regulated Market in Frankfurt (Prime Standard); Regulated
Unofficial Market in Berlin, Dusseldorf, Stuttgart,
Tradegate Exchange
End of News DGAP News Service
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418089 27.11.2015
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