10.11.2015
elumeo SE DE000A11Q059
DGAP-News: Corporate News - elumeo SE expects positive financial year 2016 despite weak third quarter of 2015
DGAP-News: elumeo SE / Key word(s): Preliminary Results
Corporate News - elumeo SE expects positive financial year 2016
despite weak third quarter of 2015
10.11.2015 / 20:28
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Corporate News - elumeo SE expects positive financial year 2016 despite
weak third quarter of 2015
* Earnings for Q3 2015 impacted by one-off effects in the UK
* Forecast for financial year 2015 revised
* Outlook for 2016 positive
* New shopping model has positive effects on the gross margin
* Cooperation with Johanna Joop already underway
Berlin, 10 November 2015 - According to preliminary figures, one-off
effects in the United Kingdom had a negative impact on the results of the
third quarter of 2015. For this reason, elumeo SE is revising its forecast
for the full year 2015. Due to new collaborations and projects, in
particular, the Group is optimistic for financial year 2016.
Due to unforeseen challenges in moving from its previous location
Leamington Spa to Birmingham in the UK, the elumeo Group had to increase
one-off costs that will have an impact on the consolidated result of the
third quarter and financial year 2015. A number of technical problems were
the main reasons for the challenges at the new site. In addition, there
were differences in inventory figures that are currently being looked into.
This lowered the company's turnover and income quite significantly in
September and October. Since November 2015, sales figures have returned to
their previous level.
According to preliminary figures, the Group's total sales for the
nine-month period in 2015 increased by around 8% to EUR 54.1 million after
EUR 50.0 million in the same period of last year. That growth has again
mostly been driven by a positive eCommerce development. The expected
revenues from eCommerce sales, rose by around 62% from EUR 7.9 million in
the nine-month period of 2014 to EUR 12.8 million in the third quarter of
2015, based on preliminary figures. On the other hand, group revenues from
TV sales declined slightly and most likely reached EUR 41.3 million after
EUR 42.2 million in the first nine months of 2014. This represents a
decline of approximately 2%.
We expect consolidated revenues slightly above previous year," said Bernd
Fischer, CFO and speaker of the Executive Board of elumeo SE. "And negative
consolidated earnings cannot be excluded."
Wolfgang Boyé, Chairman of the Executive Board, feels elumeo SE's business
will only be temporarily affected: "The relocation-related issues will have
been largely resolved by the end of the third quarter and will therefore
mainly affect financial year 2015. We are optimistic for the future,
despite a challenging third quarter. We intend to expand our business
through new partnerships and projects."
Thanks to its recent IPO, elumeo SE was notably able to implement a new
model on purchasing raw materials, gemstones, in particular. Here, the
existing warehouse that can accommodate large quantities has been
supplemented by a dynamic system that allows for faster incoming and
outgoing products. The implementation of this model has now been nearly
completed. The gross profit margin of the products purchased and produced
using the new model could already be increased to more than 57% in the
third quarter. As time goes on, the share of products manufactured using
the new model should be continuously increased and therefore increase the
gross profit margin of the group.
The new projects include, among others, the cooperation between Juwelo TV
Deutschland GmbH (Juwelo), a subsidiary of elumeo SE, and the new brand
JAHDO, the genuine jewelry line designed by Johanna Joop. "We are convinced
that we can sustainably strengthen awareness of Juwelo by exclusively
distributing this line of jewelry," said Wolfgang Boyé.
Other projects that the elumeo Group is working on are also making good
progress. For example, the integration of the domain schmuck.de that was
acquired was successfully completed with effect from 1 October 2015.
Other major projects include increasing the efficiency of internal
logistics processes. The previously announced fully automated warehouse in
Berlin is now in the final testing phase and is expected to be put into
operation at the end of November. A similar logistical infrastructure was
successfully implemented at the new site in Birmingham, UK, in September.
The factory new factory in Chanthaburi, Thailand will open on 16 November
2015 and be gradually put into operation.
"We are confident that we will be able to meet the positive expectations
for the coming financial year and are sticking to our profitable growth
strategy by continuing to pursue our international expansion, expanding our
product range and our e-commerce activities," Wolfgang Boyé added.
elumeo SE will announce the group figures for the third quarter of 2015 on
Friday, 27 November.
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.
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10.11.2015 Dissemination of a Corporate News, transmitted by DGAP - a
service of EQS Group AG.
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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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411415 10.11.2015
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