DGAP-News: elumeo SE / Key word(s): Change in Forecast
elumeo SE: Preliminary figures for financial year 2020 significantly higher than expected
- Revenue increases by nearly 10% to EUR 42 million despite the COVID-19 pandemic.
- Segment EBITDA improves disproportionately to EUR +0.9 million.
- Breakeven achieved for the full year 2020
- Web shops as key growth drivers
Berlin, 26 January 2021
Based on preliminary results, elumeo SE managed to further improve its key performance indicators in financial year 2020. The leading European company for the electronic distribution of high-quality gemstone jewelry significantly increased its revenue, gross profit and earnings. Compared to financial year 2019, revenue rose by 9% from EUR 39 million to EUR 42 million. At the same time, the gross profit margin improved from 48.2% to 52.6%. The figures for revenue and gross profit in 2019 are adjusted in each case for the site in Rome that was closed. This result, together with the cost-cutting programme completed in 2020, enabled elumeo to generate a clearly positive segment EBITDA of EUR 0.9 million, thus returning to profitability a year earlier than expected.
"The past year demanded everything from the employees of elumeo SE - especially in view of the COVID-19 pandemic. We are proud that our efforts have been rewarded by this great result," commented Wolfgang Boyé, Chairman of the Executive Board of elumeo SE. As in financial year 2019, the web shops proved to be key drivers of growth in 2020. They achieved new records in terms of both revenue of EUR 11.1 million (+58%, 2019: EUR 7.0 million - data based on merchandise management data) and the number of new customers, 22,184 (+75%, 2019: 12,648). In particular, the videos offered as a supplement to the product images are becoming increasingly popular.
"We are also seeing robust growth momentum so far in the first quarter of 2021. Therefore, we expect to improve further in 2021 in terms of both revenue and earnings. We will publish the report for financial year 2020 together with a forecast for the current financial year as planned on March 30, 2021," added Dr. Riad Nourallah, Managing Director and future CFO of elumeo SE.
About the company:
The elumeo Group, headquartered in Berlin, is the leading European company in the electronic distribution of high-quality gemstone jewelry, mainly produced in India and Thailand. elumeo's goal is to make high-quality gemstone jewelry an affordable luxury for everyone.
Through a variety of electronic distribution channels (such as TV, the Internet, Smart TV and Smartphone App), the listed company offers its customers primarily colour gemstone jewelry at comparatively low prices. The company sells its jewelry predominantly through direct sales. For example, the elumeo Group operates home shopping television stations in Germany and Italy as well as web shops in Germany, the UK, Italy, France, the Netherlands, Spain and Belgium.
Tel.: +49 30 69 59 79-231
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26.01.2021 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
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+49 30 69 59 79-0
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