Home24 : Presentation Audited Q4 & FY Results 2020

home24 Q4 & FY 2020 Audited Results

31 March 2021

FY 2020 Management summary

Order intake growth accelerated to 58% in Q4 2020, raising FY 2020 growth to 46% YoY.

Q1 QTD trading with continued strong momentum in order intake of +73% YoY (EU: +80% YoY, LatAm: +48% YoY, all in CC).

Q4 revenue growth of 50% brings FY 2020 to 42% and thus upper end of guidance range (in CC, last upgraded Nov 11th). Q4 adj. EBITDA at 3% or EUR 5m, leading to FY adj. EBITDA of 3% or EUR 16m (significant improvement of 11pp or EUR 44m YoY).

Financial year 2020 cash flow positive, also excluding capital increase of EUR 46m. Cash and cash equivalents at the end of 2020 at EUR 103m (pre Mobly IPO).

Public listing of our Brazilian business Mobly on February 5, to make growth financing more independent from home24. Gross proceeds of c. EUR 121m to Mobly, and EUR 24m to home24. Pricing of BRL 21 per share at c. 4x LTM Q3 2020 Sales (in BRL).

Post capital measures, both EU and Latam segments of home24 have more than EUR 100m funds available to invest in accelerated growth, having reached core profitability in 2020.

home24 anticipates revenue growth of +20% and +40% (in CC) in 2021 and an adjusted EBITDA

margin of 0% and +2%. The outlook considers a strong first quarter as well as the strong PY

comparison and the possibility of increased volatility in consumer demand from Q2 onwards.

All 2021 figures preliminary and unaudited
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Q4 2020 order intake growth accelerated to 58%, bringing FY 2020 growth to 46% (all CC)

GOV in EURm, Active customers and Total gross orders in k, Average order value in EUR

▪ home24 further accelerates

growth at 58% YoY GOV in Q4 2020.

▪ Milestone of +2m active customers surpassed with now 2.2m active customers.

▪ Further FX impact due to

decrease in BRL/EUR weighing

on real currency basket size and growth rate.

2

Q4 revenue growth of +50% (in CC) brings FY with +42% at

upper end of latest guidance, despite significant spillover to Q1 in EU

Revenue in EURm and Growth YoY in %

▪ Both segments broadly contributed in a similar way to FY growth of +42% in CC.

▪ In Europe, spillover of Q4 order intake into Q1 or even Q2 revenue due to significantly longer delivery times (GOV growth: +66%, IFRS growth: +53%).

▪ In LatAm, stronger revenue realization due to strong sales campaigns focusing on available warehouse stock (GOV growth: +35%, IFRS growth: +43%, all CC).

3

Q4 adj. EBITDA at 3% or EUR 5m, leading to FY adj. EBITDA

of EUR 15m, an improvement of EUR 44m compared to prior year

Adj. EBITDA in EURm and in % of Revenue

▪ Another strong quarter with

adj. EBITDA margin of 3%. ▪ Strong >40% FY revenue

growth paired with 11pp adj.

EBITDA margin improvement

lead to EUR 44m profitability increase.

▪ Improvements in all P&L line items:

○ -2pp COGS

○ -2pp Fulfillment Expenses ○ -3pp Marketing Expenses ○ -4pp SG&A

▪ Q4 20 in LatAm influenced by tax contingencies of ~EUR1m related to a recent tax ruling.

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