BIKE24 HOLDING AG
EQS-Ad-hoc: BIKE24 Holding AG / Key word(s): Preliminary Results/Quarterly / Interim Statement Disclosure of an inside information according to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by DGAP Bike24 Holding AG: Release of preliminary financial results for the fiscal year 2023 and for the fourth quarter of fiscal year 2023
ISIN: DE000A3CQ7F4 Dresden, February 28, 2024 // According to preliminary calculations, Bike24 Holding AG (the "Company") achieved a year-on-year change in revenue of -13.5% and an adjusted EBITDA margin of -1.3% at Group level in financial year 2023. In the fourth quarter of 2023, the year-on-year change in revenue amounted to -21.8% (Q4 2022: +2.8%) and the adjusted EBITDA margin to -7.0% (Q2 2022: -3,1%). In the full-year forecast as adjusted on October 25, 2023, the Company still assumed a decline in revenue growth of between -16% to -11% and an adjusted EBITDA margin of between -1% and +1%. While the change in revenue is in line with the forecast according to preliminary calculations, the adjusted EBITDA margin is below the forecast. The main reason for this is a higher write-down of inventories (December 31, 2023: EUR 5.0 million vs. December 31, 2022: EUR 2.8 million) which also significantly influenced the result of the fourth quarter of fiscal year 2023. Inventories were built up significantly during the pandemic and due to supply chain problems at this time. Due to the macroeconomic conditions, consumer sentiment and thus demand weakened considerably. The Company succeeded in significantly reducing inventories (December 31, 2023: EUR 71.3 million; December 31, 2022: EUR 84.3 million – in each case after write-downs). Nevertheless, there are individual product groups in which there are still overcapacities. In addition, the Company has adjusted the write-down methodology due to the current market situation, which has led to a higher need for write-down. On the basis of these business results and the medium-term outlook, the Management Board expects an impairment of goodwill in the amount of EUR 56 to 64 million as part of the necessary impairment test. All figures are preliminary and unaudited. The final business figures for the 2023 financial year and for the fourth quarter of 2023 will be published as part of the publication of the annual report on March 22, 2024. The definition of the alternative performance measure "adjusted EBITDA margin" can be found on page 48 of the annual report 2022, which has been published on the Company's website.
Person making the notification: Alexander Weiss, General Counsel Contact person for inquiries of investors and analysts: Moritz Verleger Head of Investor Relations ir@bike24.net
Certain statements contained in this release may constitute "forward-looking statements" that involve a number of risks and uncertainties. Forward-looking statements can generally be identified by the use of the words "may," "will," "should," "plan," "expect," "anticipate," "estimate," "believe," "intend," "project," or "aim," or the negative of these words or other variations of these words or comparable terminology. Forward-looking statements are based on assumptions, forecasts, estimates, projections, opinions or plans that, by their nature, are subject to significant risks and uncertainties and contingencies that are subject to change. The Company does not and will not give any assurance that any forward-looking statement will be achieved or prove to be accurate. Actual future business, financial condition, results of operations and prospects may differ materially from those projected or anticipated in the forward-looking statements. Subject to applicable legal requirements, neither the Company nor any other person intends to update, review, revise or revise any forward-looking statements in this release to reflect actual events or developments, whether as a result of new information becoming available, new developments occurring in the future or otherwise, nor does it undertake any such obligation.
End of Inside Information
28-Feb-2024 CET/CEST The EQS Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. |
| Language: | English |
| Company: | BIKE24 Holding AG |
| Breitscheidstr. 40 | |
| 01237 Dresden | |
| Germany | |
| ISIN: | DE000A3CQ7F4 |
| WKN: | A3CQ7F |
| Listed: | Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange |
| EQS News ID: | 1847573 |
| End of Announcement | EQS News Service |
1847573 28-Feb-2024 CET/CEST
