Ad hoc announcement according to Art. 17 (1) MAR

elumeo SE has published preliminary figures for 2023: Revenue stable compared to previous year, Web revenue significantly positive, adjusted EBITDA declining

Berlin, April 29, 2024

ISIN: DE000A11Q059

WKN A11Q05

Stock symbol: ELB

LEI: 391200KOQF8RGMZ3XK74

Exchange: Regulated market in Frankfurt (Prime Standard)

Berlin, April 29, 2024 – elumeo SE (ISIN DE000A11Q059), the leading electronic retailer for gemstone jewelry in Europe, today announced the preliminary consolidated figures for the fiscal year 2023. The completion of the audit and the publication of the consolidated financial statements are scheduled for April 30, 2024. Based on the preliminary figures now available, forecasts have been made for revenue and gross profit margins, but the forecast for adjusted EBITDA has been missed. The assumption for the expected growth of the Web distribution channel was significantly exceeded.

While the company was able to maintain the revenue level of the previous year at the Group level and generated €45.4 million (2022: €45.8 million), the key performance indicator of the elumeo Group, adjusted earnings before interest, taxes, depreciation, and amortization (adjusted EBITDA), declined. It decreased from €2.2 million to €-0.4 million. Reasons for the unexpectedly sharp decline were investments for further internationalization of the TV distribution channel (€0.6 million), an above-average investment in the Web distribution channel in Q4 2023 (€0.9 million), and the inflation-induced decline in gross profit margin to 50.0% (2022: 54.9%).

Revenue from the Web distribution channel increased by 8.4% compared to the previous year to €14.5 million. The reason for the unexpectedly positive development was higher growth in sales in the fourth quarter of 2023, facilitated by the allocation of additional budget for optimizing marketing channels amounting to €0.9 million.

Regarding the definition of the alternative performance measure adjusted EBITDA, the company refers to the definition in its 2022 annual report on page 22, which was published on the company's website.

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.
 

Notifying person at the issuer;

elumeo SE 

Managing Director (Finance) 

Dr. Riad Nourallah

Contact:

elumeo SE                                                                                          

Dr. Riad Nourallah, Managing Director (CFO)                                                                                   

Erkelenzdamm 59/61, 10999 Berlin                                                

Tel.: +49 30 69 59 79-231                                                                 

Fax: +49 30 69 59 79-650                                                                

E-Mail: ir@elumeo.com

http://www.elumeo.com