THE PLATFORM GROUP AG
EQS-News: The Platform Group AG
/ Key word(s): Forecast
The Platform Group AG announces outlook for 2024 - record year expected In light of the successful business performance in 2023 and the positive development in the Group's four segments, the Board of Directors of The Platform Group AG expects the growth trajectory to continue in 2024 and the earnings situation to improve once again. Consolidated gross merchandise volume (GMV) will increase to between EUR 760 million and EUR 800 million according to the current forecast (2023: pro forma forecast EUR 700 million). Consolidated net sales revenue will grow to between EUR 460 million and EUR 470 million (2023: pro forma forecast of EUR 440 million). Based on the positive earnings situation and the effect of the cost and efficiency program implemented in 2023, the TPG Board of Directors expects a further increase in the operating result. The Board of Directors expects consolidated adjusted EBITDA to increase to between EUR 24 million and EUR 28 million for the full year 2024 (2023: pro forma forecast EUR 20 million).
Business areas that were closed in 2023 or will be closed in 2024 are no longer included in the forecast for 2024.
In the medium term, the Board of Directors of The Platform Group AG expects to achieve a GMV of EUR 1 billion and an adjusted EBITDA margin of between 7% and 10%. In addition, a leverage ratio of between 1.5 and 2.3 is targeted in the medium term. The leverage ratio is defined as the ratio of adjusted EBITDA to net financial debt (excluding lease liabilities).
In the 2023 financial year, the Company's earnings position was mainly characterized by the contribution of The Platform Group GmbH & Co. KG to fashionette AG by means of a non-cash capital increase with the exclusion of subscription rights and the subsequent merger into The Platform Group AG with entry in the commercial register on 7 November 2023. For this reason, pro forma figures are provided in which the business activities of the companies since 1 January 2022, comparable to the 2023 financial year, are presented on a consolidated basis for the full year. The presentation of the Company's consolidated pro forma financial information is for illustrative purposes only. In the 2024 financial year, the business figures will be consolidated for the full year for the first time.
The Platform Group AG is a software company that is active in 19 sectors with its own platform solutions. Its customers include both B2B and B2C customers in sectors such as machinery retail, dental technology, furniture retail, car platforms and luxury fashion. The group has 14 locations across Europe with 750 employees. Over 20 investments and company acquisitions have been made since 2020. Investor Relations
30.01.2024 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG. |
| Language: | English |
| Company: | The Platform Group AG |
| Schloss Elbroich, Am Falder 4 | |
| 40589 Düsseldorf | |
| Germany | |
| E-mail: | ir@the-platform-group.com |
| Internet: | https://the-platform-group.com/ |
| ISIN: | DE000A2QEFA1 |
| WKN: | A2QEFA |
| Listed: | Regulated Unofficial Market in Berlin, Dusseldorf, Frankfurt (Scale), Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange |
| EQS News ID: | 1826205 |
| End of News | EQS News Service |
1826205 30.01.2024 CET/CEST
