THE PLATFORM GROUP AG Q1 Results / 2024FY Guidance
29th May 2024
1 | THE PLATFORM GROUP |
Key Facts | |
OUR MANAGEMENT STRUCTURE
Supervisory Board
Stefan Schütze | ▪ | Jens Wasel | ▪ Dominik Barton |
(Chairman) | ▪ | Florian Müller |
Management Board
Dr. Dominik Benner | Laura Vogelsang |
CEO | Board Member |
▪ | TPG since 2012 | ▪ | TPG since 2018 |
▪ | 5th generation family | ▪ | >10 years |
business | eCommerce & payment | ||
▪ | >15 years eCommerce | ▪ | Responsibilities: Risk, |
Payment, HR |
Segments
Consumer Goods | Freight Goods | Industrial Goods | Service and Retail Goods |
CFO
Reinhard Hetkamp
CFO TPG AG
- >20 years experience
in various finance roles inc. various CFO positions
3
LATEST DEVELOPMENTS (3 MONTH)
Acquisition of | Acquisition of | Acquisition of | ||
Avocadostore GmbH | HOOD Media GmbH | |||
OEGE GROUP | ||||
(platform for sustainable | (platform for consumer | |||
(B2B platform company) | ||||
products) | products) | |||
4
LATEST DEVELOPMENTS (3 MONTH)
Number of Partners 2024 vs. 2023
11.987 | |
4.953 | |
03/2023 | 03/2024 |
Acquisition of hood.de +4.900 partners
+ 3 Mio. SKU's
Acquisition of Avocadostore +1.400 partners
5
LATEST DEVELOPMENTS (3 MONTH)
Reduction of minority | Reduction of minority | Reduction of minority | ||
shareholders: | shareholders: | shareholders: | ||
Möbelfirst | ViveLaCar Group | Lott Carparts | ||
(new: 100%) | (new: 100%) | (new: 100%) | ||
6
LATEST DEVELOPMENTS (3 MONTH)
Reduction of minority
shareholders:
ApoNow / Doc.Green
(new: 80%)
The Platform Group
GmbH & Co. KG
New COO:
Christoph Wilhelmy
(04/2024)
Group Structure since
03/2024
The Platform Group AG
fashionette | Brandfield BV | |
GmbH | ||
New COO:
Stefan Miebach
(03/2024)
7
WITH TPG SOFTWARE OUR PARTNERS GET ACCESS TO GLOBAL ECOMMERCE - 21 INDUSTRIES COVERED
Software-solutions for small- & medium-sized business partners
CONSUMER
GOODS
FREIGHT GOODS
INDUSTRIAL
GOODS
SERVICE & RETAIL
GOODS
B2B + B2C customers
10 local Stores
Source: Company. Overview of subsidiaries/brands. 2024 acquired: Hood.de and Avocadostore | 8 |
2Financials
OVERVIEW Q1 REPORT 2024 (VS. Q1 2023 PRO-FORMA)
CONTINUING OPERATIONS
Q1 2024 | Q1 2023 | ||||
GMV | € 190.6m | € 161.0m | |||
Net revenue (EUR m) | € 107.9m | € 84.2m | |||
Other revenues (EUR m) | € 9.8m | € 7.5m | |||
Gross Margin | 37.7% | 37.7% | |||
Marketing Cost Ratio | 6.3% | 6.5% | |||
Distribution Cost Ratio | 7.9% | 7.3% | |||
HR Cost Ration | 4.7% | 4.8% | |||
Adj. EBITDA (EUR m) | € 8.5m | € 6.8m | |||
(% margin) | (7.9%) | (8.1%) | |||
Reported EBITDA (EUR m) | € 16.7m | € 13.3m | |||
(% margin) | (15.5%) | (15.8%) | |||
Net profit (EUR m) continuing operations | € 12.9m | € 9.7m | |||
(% margin) | (12.0%) | (11.5%) | |||
Takeaways
Q1 traditionally lowest quarter in FY-perspective
GMV Growth +18% / Revenue Growth +28%: both higher increase compared to internal forecast.
Distribution cost ratio with 7.9% above internal cost target-line (carrier cost increase in 1/2024)
EBITDA adj. +25% / EBITDA reported +26% shows high effectiveness of 2023 cost reduction program.
Net profit +34%: above internal forecast.
All pro-forma and non-pro-forma figures are based on continued operations. Fashionette AG announced in Q1 2023 and Q2 2023 the closure of the business units of (a) beauty and (b) smartwatches, in Q3 2023 the planned sale of both units 10 was published., sell-off by April 2024 effective. All ratios related to net revenue Q1 2024 / Q1 2023. All figures unaudited.
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Disclaimer
The Platform Group AG published this content on 29 May 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 29 May 2024 13:15:03 UTC.
