Second quarter, April –
- Revenue amounted to MEUR 1.38 (1.83)
- The operating result for the period amounted to MEUR -1.92 (-0.45)
- The adjusted operating result for the period amounted to MEUR -1.51 (-0.38)
- Earnings per share amounted to
EUR -0.09 (-0.03)
The period,
- Revenue amounted to MEUR 3.10 (4.07)
- The operating result for the period amounted to MEUR -7.22 (-0.45)
- The adjusted operating result for the period amounted to MEUR -3.04 (-0.39)
- Earnings per share amounted to
EUR -0.38 (-0.03) - Cash and cash equivalents on
June 30 amounted to MEUR 12.6 (2.1)
Significant events during the second quarter 2022
- Challenging market sentiment in core German market characterised by low consumer confidence due to high inflation and an uncertain economic outlook.
- 108 thousand new products uploaded onto the site in Q2 2022 (-8% vs. Q2 2021).
Significant events after the end of the quarter
- Vinted UAB published a public offer for 100% of shares of
Rebelle AB on25 July 2022 , conditional upon at least 90% of shares being tendered. As of19 August 2022 , 96.7% of shareholders followed the recommendation of the independent committee of the Board of Directors to accept the offer.
CEO´s comment
In the second quarter of 2022 we continued to face a very challenging market environment. Unprecedented inflation levels and an uncertain economic outlook gave rise to low order volumes on our platform. Whilst we tried our best to counter this trend with innovative marketing and discounting campaigns, we nevertheless experienced a significant slowdown in the activity level of our customer base. At the same time, we continued to face increased competition from strong international platform players that are pushing into our market with high marketing spendings.
A key strategic measure for strengthening Rebelle’s competitive position in this market environment was M&A. With the support from our board we invested considerable resources throughout the quarter into the sourcing, assessment and execution of potential acquisitions. The key rationale behind these initiatives was to accelerate the path to critical mass, generate economies of scale and to diversify the geographical profile of our customer base.
As we had begun to approach the finishing line on a major acquisition opportunity, we became an M&A target ourselves. On
Max Schönemann
CEO
The report in its entirety is available as an attachment to this press release and on
For further information, please contact:
Telephone: +46 76 190 90 51
jonas.rodny@pauesaberg.se
About
The company’s shares (ticker BELLE) are traded on Nasdaq First North Growth Market Stockholm.
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