13.05.2024 07:30:31 - dpa-AFX: EQS-News: elumeo SE returns to profitable growth in the first quarter of 2024 (english)

elumeo SE returns to profitable growth in the first quarter of 2024

EQS-News: elumeo SE / Key word(s): Quarter Results
elumeo SE returns to profitable growth in the first quarter of 2024

13.05.2024 / 07:30 CET/CEST
The issuer is solely responsible for the content of this announcement.

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Corporate News

elumeo SE returns to profitable growth in the first quarter of 2024

  * Sales in Q1/2024 increase by 5% to EUR 11.3 million compared to the same
    quarter of the previous year (Q1/2023: EUR 10.8 million)


  * Adjusted EBITDA positive again at EUR 148 thousand (Q1/2023: EUR -169
    thousand)


* Total costs were reduced by 8 % to EUR 6.0 million

* Gross profit margin falls to 48.5% (Q1/23: 52%) due to higher COGS

* Active customers increased by 7% in Q1

  * Marketing investments from Q4/2023 bear fruit and set the course for
    profitable growth in the current financial year


* Forecast for 2024 confirmed

Berlin, 13 May 2024 - elumeo SE (ISIN DE000A11Q059), the leading electronic
retailer of gemstone jewelry in Europe, has made a good start to financial
year 2024. In Q1/2024, the company increased its revenue across all sales
channels by 5% year-on-year to EUR 11.3 million (Q1/2023: EUR 10.8 million).
The web sales channel made an above-average contribution to this positive
development, increasing by 15% compared to the same quarter of the previous
year. Sales in the TV sales channel also stabilized with an increase of 1%
compared to Q1/2023.

The number of active customers rose by 7% compared to the same quarter of
the previous year to 40.2k (Q1/2023: 37.7k). The gross profit margin fell to
48.5% (Q1/23: 52.0%) due to inflation and higher cost of goods sold (COGS).
By contrast, total costs were reduced by 8% to EUR 6.0 million (Q1/2023: EUR
6.6 million). The elumeo Group's key financial figure, adjusted EBITDA, was
positive again at EUR 148 thousand (Q1/2023: EUR -169 thousand).

Florian Spatz, Chief Executive Officer of elumeo SE: 'The positive
development in the first quarter of 2024 brings us a significant step
forward. However, we are aware that we still have a considerable amount of
ground to cover in view of the persistently challenging market environment.'
The slowly improving consumer climate in particular gives hope for the
further course of business. According to GfK data from April 2024, the
forecast for May 2024 improved for the third time in a row to a value of
-24.2 points, reaching the highest value in the past two years despite the
persistently low level. Spatz: 'We are confident that our customers'
willingness to spend and purchasing power will gradually return as the year
progresses.'

The significant increase in sales in the web sales channel is the result of
marketing investments already made in Q4/2023. This enabled the online
campaigns to be optimized for profitability in Q1/2024 - with the result
that the financial resources were used much more efficiently (-13%). 'At the
end of 2023, we tested and optimized a lot in order to activate and monetize
certain customer groups much better than before. This puts us in a position
to achieve greater profitability for every euro invested. We will benefit
significantly from this knowledge over the rest of the year,' adds Florian
Spatz.

The development of the video shopping app Jooli was also encouraging in
Q1/2024. The onboarding process for new users of the app was revised and now
allows users to specify their personal preferences right at the start. This
allows the algorithm to display suitable product videos even faster. The
number of orders increased from 202 in October 2023 to 1,353 in March 2024,
while the average shopping basket rose from INR 135 to INR 301 in the same
period.

In light of the development to date in Q1/2024, the management of elumeo SE
confirms its forecast for the current financial year. The company expects a
return to profitable growth at Group level for the year as a whole. It
expects mid-single-digit revenue growth of between 4% and 8% and a
disproportionately high increase in adjusted EBITDA of between EUR 1.5
million and EUR 3.5 million with a gross profit margin of 49% to 51%. In
addition, the management confirms the medium-term target of the #Juwelo100
growth program. This envisages sales growth to EUR 100 million by 2030.

Q1 2024 Selection of key figures


                                                     Q1 2024      Q1 2023                  YoY
  TEUR (unless otherwise stated)                                                           in
                                                                                           %



Sales revenue 11.329 10.782 5,1%

  Cost of Goods / Services Sold                      5.835        5.179            12,7%
  Gross profit                                       5.494        5.603            -1,9%
  Gross profit in %                                  48,5%        52,0%            -6,7%
  Total costs                                        6.038        6.571            -8,1%
  thereof sales & marketing costs                    771          884              -12,8-
                                                                                   %


  EBIT                                               -544         -968             43,8%
  EBITDA                                             -268         -575             53,4%
  Adjusted-EBITDA                                    148          -169             87,6%


  (hereinafter KPIs from internal controlling
  system)
  Number of active customers                         40.181       37.701           6,6%
  Number of new customers                            10.873       10.425           4,3%
  Sales per active customer (EUR)                    290          293              -1,3%
  Sales volume (units)                               160.048      154.810          3,4%
  Average selling price (EUR)                        72           70               2,2%


About elumeo SE:

The Berlin-based elumeo Group is the leading European company in the
electronic direct sales of high-quality gemstone jewelry. Through a variety
of electronic sales channels (TV, Internet, Smart TV and smartphone app),
the listed company offers its customers colored gemstone jewelry in
particular at affordable prices. The elumeo Group operates home shopping TV
channels in Germany, Austria, Switzerland and Italy as well as web stores in
Germany, Austria, Switzerland, the UK, Italy, France, the Netherlands, Spain
and Belgium. With its wholly owned subsidiary jooli.com GmbH, the elumeo
Group operates the AI-driven video shopping app Jooli.

About jooli:

jooli is the fastest growing video shopping app in Germany and India:
user-friendly, intelligent and entertaining. The app inspires with products
that are presented in short, entertaining videos. Users navigate through a
broad product portfolio of various brands with a swipe and receive
personalized shopping and gift ideas. Product partners are given an
intuitive content platform to tap into new target groups with their
specially produced product videos. The jooli interface also provides them
with extensive data analyses, from individual video performances to click
rate analyses. The app analyses user behaviour and enables brands to
optimize and individualize their product offering. The jooli app is
available for iOS and Android.

Further information at https://www.jooli.com/

Contact us

elumeo SE
Investor Relations
Erkelenzdamm 59/61
10999 Berlin
Phone: +49 30 69 59 79-231
Fax: +49 30 69 59 79-650
E-mail: ir@elumeo.com

www.elumeo.com


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13.05.2024 CET/CEST Dissemination of a Corporate News, transmitted by EQS
News - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

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   Language:       English
   Company:        elumeo SE
                   Erkelenzdamm 59/61, Portal 3b
                   10999 Berlin
                   Germany
   Phone:          +49 30 69 59 79-0
   Fax:            +49 30 69 59 79-20
   E-mail:         info@elumeo.com
   Internet:       www.elumeo.com
   ISIN:           DE000A11Q059
   WKN:            A11Q05
   Listed:         Regulated Market in Frankfurt (Prime Standard);
                   Regulated Unofficial Market in Berlin, Dusseldorf,
                   Hamburg, Munich, Stuttgart, Tradegate Exchange
   EQS News ID:    1900857




End of News EQS News Service
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1900857 13.05.2024 CET/CEST
Name WKN Börse Kurs Datum/Zeit Diff. Diff. % Geld Brief Erster Schluss
ELUMEO SE A11Q05 Frankfurt 2,160 31.10.24 08:05:12 -0,040 -1,82% 0,000 0,000 2,160 2,200

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