elumeo SE: Jewelry retailer defies challenging market conditions in 2023 and
lays foun-dation for return to profitable growth in 2024

EQS-News: elumeo SE / Key word(s): Annual Report
elumeo SE: Jewelry retailer defies challenging market conditions in 2023 and
lays foun-dation for return to profitable growth in 2024

30.04.2024 / 21:47 CET/CEST
The issuer is solely responsible for the content of this announcement.

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Corporate News

elumeo SE: Jewelry retailer defies challenging market conditions in 2023 and
lays foundation for return to profitable growth in 2024

* The company presents consolidated figures for the fiscal year 2023.

  * Total revenue remains nearly stable at EUR 45.4 million (previous year:
    EUR 45.8 million). Revenue from the Web distribution channel
    unexpectedly increases significantly to EUR 14.5 million (previous year:
    EUR 13.4 million).

  * Adjusted EBITDA decreases to EUR -383k due to increased future
    investments in the TV and Web distribution channels, as well as the
    inflation-induced decline in gross profit margin (previous year: EUR 2.2
    million).

  * Gross profit margin remains above the 50% mark and decreases from 54.9%
    to 50.0%.

  * Operating cash flow improves to EUR -0.1 million thanks to optimized
    working capital management (previous year: EUR -1.4 million).

  * Growth program #Juwelo100: Launch of the new platform for the
    international expansion of Juwelo's video offering in the third quarter
    of 2024.

  * After the introduction of JooliPay in India, the GMV (Gross Merchandise
    Value) of the video shopping platform grows from INR 27,366 in October
    2023 to INR 407,122 in March 2024.

  * Outlook for adjusted EBITDA and revenue in 2024: elumeo expects a return
    to profitable growth.

Berlin, 30. April 2024 - elumeo SE (ISIN DE000A11Q059), the leading
electronic retailer for gemstone jewelry in Europe, presents consolidated
figures for the fiscal year 2023.

The company was able to essentially maintain the revenue level of the
previous year at the Group level, generating EUR45.4 million (2022: EUR45.8
million). Revenue from the Web distribution channel increased by 8.4%
compared to the previous year to EUR14.5 million. The reason for the
unexpectedly positive development was higher growth in sales in the fourth
quarter of 2023, facilitated by the allocation of an additional budget for
optimizing marketing channels amounting to EUR0.9 million.

The company's key performance indicator, adjusted earnings before interest,
taxes, depreciation, and amortization (adjusted EBITDA), declined
significantly. It decreased from EUR2.2 million to EUR-0.4 million. Reasons for
the unexpectedly sharp decline were investments for further
internationalization of the TV distribution channel (EUR0.6 million), an
above-average investment in the Web distribution channel in Q4 2023 (EUR0.9
million), and the inflation-induced decline in gross profit margin to 50.0%
(2022: 54.9%). Operating cash flow improved from EUR-1.3 million to EUR-0.1
million due to a variety of individual operational improvement measures.

Florian Spatz, CEO of elumeo SE, stated, "The past fiscal year once again
posed significant challenges for our company. Despite a weak consumer
climate throughout the year in Germany and a declining market for mail-order
trade in watches and jewelry, elumeo was able to hold its ground well and
even perform significantly better than the overall market." Spatz attributes
elumeo's significant outperformance compared to the market to the unique
shopping experience offered by Juwelo. This combines a highly emotional,
video-based product presentation with attractive pricing across all price
points from EUR29 to EUR10,000. This resulted in high customer loyalty and
retention, with the number of active customers increasing by 9% in 2023.

The video shopping app Jooli also continued to develop significantly
positively in 2023. Since the introduction of Jooli Pay, the number of
monthly orders in the Indian market has increased significantly, rising from
202 orders in October 2023 to 1,353 orders in March 2024. Simultaneously,
due to a significantly disproportionate increase in average transaction
values, gross merchandise value increased from INR 27,366 to INR 407,122
during the same period.

For the current fiscal year, elumeo SE's management expects a return to
profitable growth at the Group level. They anticipate a mid-single-digit
revenue growth between 4% and 8%, as well as a disproportionate increase in
adjusted EBITDA between EUR1.5 million and EUR3.5 million with a gross profit
margin of 49-51%. The company also confirmed the medium-term goal of the
growth program #Juwelo100, which aims for revenue growth to EUR100 million by
2030. Spatz stated, "The key driver in 2024 will be the international
scaling of Juwelo's video content offering in the European market. Within
the framework of #Juwelo100, our core brand Juwelo can leverage a variety of
technologies developed by our subsidiary Jooli.com GmbH." The goal is to
significantly accelerate international expansion at low operating costs
without further investment.Über die elumeo SE:

About elumeo SE:

Based in Berlin, the elumeo Group is the leading European company in the
electronic direct sales of high-quality gemstone jewelry. Through a variety
of electronic distribution channels (TV, Internet, Smart TV, and smartphone
app), the publicly listed company offers its customers colored gemstone
jewelry at favorable prices. The elumeo Group operates home shopping
television channels in Germany, Austria, Switzerland, and Italy, as well as
webshops in Germany, Austria, Switzerland, the United Kingdom, Italy,
France, the Netherlands, Spain, and Belgium. Through 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 users with
products presented in short, engaging videos. Users navigate through a wide
range of products from various brands by swiping and receive personalized
shopping and gift ideas. Product partners leverage their specially produced
product videos as an intuitive content platform to reach new target
audiences. With the jooli interface, they also receive comprehensive data
analysis, from individual video performances to click-through rate analysis.
The app analyzes user behavior, enabling brands to optimize and personalize
their product offerings accordingly. The jooli app is available for iOS and
Android.

For more information, visit: https://www.jooli.com/

Contact

elumeo SE
Investor Relations
Erkelenzdamm 59/61
10999 Berlin
Tel.: +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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   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:    1893533

End of News EQS News Service
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1893533 30.04.2024 CET/CEST