fashionette AG
EQS-News: The Platform Group once again raises its sales and earnings forecast for 2024 – Increase in medium-term planning
EQS-News: The Platform Group AG
/ Key word(s): Change in Forecast
The Platform Group once again raises its sales and earnings forecast for 2024 – Increase in medium-term planning
The gross merchandise volume (GMV) is expected to increase to between EUR 880 million and EUR 900 million (previous forecast: EUR 840 million to EUR 870 million), while net sales are expected to rise to between EUR 500 million and EUR 520 million (previous forecast: EUR 480 million to EUR 500 million). Driven by the positive earnings trend and the impact of the implemented cost and efficiency program, the Board of Directors expects a further increase in adjusted EBITDA to between EUR 29 million and EUR 32 million for the 2024 financial year (previous forecast for adjusted EBITDA: EUR 26 million to EUR 30 million). The number of partners is now expected to rise to over 13,400 (previous forecast: 12,800). The Group's medium-term planning, which relates to the 2025 financial year, will also be adjusted in light of the earnings contributions of the acquisitions to date and the Group's organic growth. The Board of Directors of The Platform Group AG expects to achieve a gross merchandise volume (GMV) of EUR 1.2 billion (previous forecast: EUR 1.1 billion), sales of at least EUR 570 million (previous forecast: EUR 550 million) and an adjusted EBITDA margin of between 7% and 10% (unchanged) in the 2025 financial year. The Platform Group's objective is to generate a high operating cash flow. Acquired companies are an important factor here, as the Platform Group's acquisition strategy is based on acquiring and integrating profitable companies. In the first half of 2024, The Platform Group generated operating cash flow of EUR 21.4 million and used the proceeds to make further acquisitions and increase shareholdings. A further increase in cash flow is planned for 2024 as a whole. In 2023, an operating cash flow of EUR 71.2 million was generated and EUR 59 million was invested in company acquisitions. The Platform Group pursues the objective of a conservative financing strategy. This includes an upper limit on debt and a broad financing base consisting of long-term bank loans, equity, and a bond. The medium-term target is a gearing ratio of between 1.5 and 2.3 (unchanged). The gearing ratio is defined as the ratio of adjusted EBITDA to net financial debt (excluding lease liabilities). CEO Dr. Dominik Benner, Laura Vogelsang, Member of the Board of Directors of The Platform Group AG, and CFO Reinhard A. Hetkamp, will elaborate on the current business development in a webcast presentation on Monday, 30 September 2024, at 10:00 CEST. The presentation will be held in English. Please register in time for participation at: The Platform Group – Update Call. The Platform Group AG is a software company that is active in 23 sectors with its own platform solutions. Its customers include both B2B and B2C customers in sectors such as furniture retail, machinery retail, dental technology, car platforms, and luxury fashion. The Group has 16 locations across Europe and is headquartered in Düsseldorf. Over 25 investments and company acquisitions have been made since 2020. In 2023, pro-forma sales of EUR 441 million and an operating result (adjusted EBITDA) of EUR 22.6 million were realized. Investor Relations
27.09.2024 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: | 1997483 |
End of News | EQS News Service |
1997483 27.09.2024 CET/CEST