Summary of key developments
After a challenging first quarter, elumeo was able to adapt quickly to the new situation caused by the COVID 19 pandemic and was profitable in 2020. Adjusted for the revenues from the closed site in Rome, revenues increased by 10%. Adjusted EBITDA at +0.9m€, clearly exceeded prognosis and PY.
Strong cash level of € 2.3m after redemption of all remaining financial liabilities.
elumeo's webshops continued to deliver an increasing contribution to the overall result by growing 57% in revenue and 78% in gross profit.
Successful transition to mobile web, mobile users increased by 31%. The new feature "Mein Juwelo" is the first step in elumeo's strategy for non-linear video content.
Outlook for 2021: The ongoing COVID-19 crisis makes forecasts difficult. Elumeo nevertheless expects sales growth in the low double-digit percentage range and continued higher growth of the web shops. Stable development of more than 50% for the gross profit margin. Adjusted EBITDA will likely be in the low to mid single-digit million range.
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