19.07.2018
home24 SE DE000A14KEB5
DGAP-News: home24 SE adjusts sales estimate for the second quarter of 2018 and confirms guidance
DGAP-News: home24 SE / Key word(s): Change in Forecast
home24 SE adjusts sales estimate for the second quarter of 2018 and confirms
guidance
19.07.2018 / 08:14
The issuer is solely responsible for the content of this announcement.
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home24 SE adjusts sales estimate for the second quarter of 2018 and confirms
guidance
- Exceptionally warm weather in the second quarter of 2018 caused demand in
the market for large furniture to decline significantly
- Estimated sales growth in the second quarter of 2018 now at approx. 6-8
percent compared to the previous year - well above market
- Targeted growth of around 30 percent for full year 2018 still feasible
despite the challenges
- Medium-term growth and earnings guidance as communicated in the IPO
process confirmed
Berlin, 19 July 2018 - home24 SE ("home24") announced today that the sales
estimate for the second quarter 2018 will be adjusted based on information
now available and that the company expects a sales increase of approx. 6-8
percent adjusted for foreign currency effects compared to the previous year.
The final quarterly financial results will be published on September 12,
2018.
A key reason for the adjustment was the unusually warm weather from April to
June 2018, which led to a noticeably lower demand in continental Europe and
especially in Germany during this period in the market for large furniture,
the core business of home24. The company assumes that this demand will shift
seasonally and will therefore be made up over the rest of the year. Among
other sources, this is indicated by market data from the summer of 2003,
which was also exceptionally warm. The estimated increase in sales of
approx. 6-8 percent in the second quarter of 2018 compared to the previous
year is still well above the market development.
In addition to the challenges posed by the warm weather, the processing of
open orders in the second quarter of 2018 was below the level of the
previous year. This was caused by the temporarily necessary parallel
operation of two ERP systems - while older orders were still processed in
the old system, more recent orders were already being processed via the new
system. The transition process is now largely complete, so that the
logistics processes can again be handled with the usual high efficiency.
Despite the existing challenges, home24 believes that the growth target of
around 30% for the full year 2018 can still be achieved on a
currency-adjusted basis. At the same time, the company confirms its
medium-term growth and earnings guidance as communicated in the IPO process.
The company announced at the time that it would break even on an adjusted
EBITDA basis by the end of 2019.
Marc Appelhoff, co-CEO of home24, said: "We were able to significantly
increase our sales despite the warm weather and the resulting lower demand.
This is clear evidence of the strength and stability of our business model.
We are convinced that we can continue to grow in the coming months and
quarters and thus achieve the targets we have set ourselves."
About home24
home24 is the leading home & living pure-play e-commerce platform in
continental Europe and Brazil. With over 100,000 SKUs sourced from over 500
suppliers, home24 offers its customers a unique selection of large and small
furniture items, outdoor furniture, mattresses and lighting products. home24
is headquartered in Berlin and has more than 1,000 employees 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 trademark "Mobly". In Europe, the company delivers its products -
regardless of size and weight - free of charge to its customers' homes and
also offers free returns. The product offering of home24 comprises numerous
brands, including a large number of private labels. home24 is listed on the
Frankfurt Stock Exchange (ISIN DE000A14KEB5). Further information can be
found on the company's website: www.home24.com.
Media contact:
Viktoria Solms
[email protected]
+49 162 244 07 65
Investor contact:
Philipp Steinhäuser
[email protected]
+49 30 201 634 728
Legal disclaimer:
This release contains forward-looking statements. These statements are based
on the current views, expectations, assumptions and information of the
management of the Company. Forward-looking statements should not be
construed as a promise of future results and developments and involve known
and unknown risks and uncertainties. Various factors could cause actual
future results, performance or events to differ materially from those
described in these statements, and neither the Company nor any other person
accepts any responsibility for the accuracy of the opinions expressed in
this release or the underlying assumptions. The Company does not assume any
obligations to update any forward-looking statements.
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19.07.2018 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.
Archive at www.dgap.de
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Language: English
Company: home24 SE
Greifswalder Straße 212-213
10405 Berlin
Germany
Phone: +49 30 - 609880019
Fax: +49 30 - 2016329499
E-mail: [email protected]
Internet: www.home24.com
ISIN: DE000A14KEB5
WKN: A14KEB
Listed: Regulated Market in Frankfurt (Prime Standard); Regulated
Unofficial Market in Berlin, Dusseldorf, Munich,
Stuttgart, Tradegate Exchange
End of News DGAP News Service
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706127 19.07.2018
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