elumeo SE publishes its Consolidated Financial Statements for 2020: Positive Group result following successful restructuring - Strong new customer growth of +78% in Q4 2020
- 16% increase in revenue in Q4 2020
- Gross profit margin rises to over 50%.
- Adjusted EBITDA in first half of 2020 at EUR 1.6 million.
- Outlook for 2021: Further revenue growth of more than 10% and significantly positive adjusted earnings up to a mid-single-digit million-euro amount expected
Berlin, 22 April 2020 - elumeo SE (ISIN DE000A11Q059), the leading electronic retailer of gemstone jewelry in Europe, published its 2020 Consolidated Financial Statements today and reported a significant increase in revenue, gross profit and earnings.
The elumeo Group is experiencing strong momentum. The online retailer for high-quality gemstone jewelry grew steadily throughout financial year 2020. The fourth quarter of 2020 in particular showed a strong increase in new customers of 78% as well as a significant 16% increase in revenue compared to the previous year. Its web shop again proved to be a growth driver overall, with sales up 58% year-on-year. Adjusted for the site in Rome that was closed, revenue in 2020 rose by 10% to EUR 42.4 million (previous year: EUR 38.5 million). Gross profit rose disproportionately by 20% year-on-year. The gross profit margin was once again established above the 50% mark (previous year: 47.8%).
Adjusted EBITDA increased to EUR 0.9 million in financial year 2020 (previous year: -2.1 million). The overall Group result improved by EUR 2.7 million from EUR -2.6 million in the previous year to EUR +0.2 million.
The restructuring of the elumeo Group was successfully completed despite the challenges posed by the COVID-19 pandemic in 2020. elumeo has thus laid the foundation for further growth. To improve its results even further in 2021, elumeo has added more moving image features to its Juwelo App. The "My Juwelo" function allows customers to switch between their desired items with a simple "swipe" and order directly from the product view. The AI-controlled pre-selection makes the shopping experience even more intense, as elumeo customers can choose from offers that are personally tailored to them. The product videos give an immediate impression of the high-quality accessories in the shop. elumeo will launch further services based on this technology over the course of 2021.
The start of the year seamlessly continued the high momentum of the fourth quarter of 2020. In the first quarter of 2021, the elumeo Group continued its strong growth with revenue growth of more than 20% and an expected adjusted result of approximately EUR 1.0 million. For 2021 as a whole, the Group expects revenue growth of more than 10% and a clearly positive adjusted result of up to a mid-single-digit million figure.
The complete Annual Report for 2020 is available for download on the company's website http://www.elumeo.com in the Investor Relations/Financial Reports section.
About elumeo SE:
The elumeo Group, headquartered in Berlin, is the leading European company in the electronic distribution of high-quality gemstone jewelry that is mainly produced in India and Thailand. Through a variety of electronic sales channels (such as TV, the Internet, Smart TV and a smartphone app), the listed company offers its customers primarily coloured gemstone jewelry at attractive prices. Sales are made via direct distribution. For example, the elumeo Group operates home shopping TV channels in Germany and Italy as well as web shops in Germany, the UK, Italy, France, the Netherlands, Spain and Belgium.
Phone: +49 30 69 59 79-231
Fax: +49 30 69 59 79-650
Dr. Riad Nourallah, managing director (CFO).
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