20.01.2022 18:30:05
|
DGAP-News: Westwing reports revenue growth of 21% year-over-year to EUR 522 million with a two-year growth of 96% as it expanded its high-margin Westwing Collection in 2021
DGAP-News: Westwing Group AG
/ Key word(s): Preliminary Results
Westwing reports revenue growth of 21% year-over-year to EUR 522 million with a two-year growth of 96% as it expanded its high-margin Westwing Collection in 2021
Munich, January 20, 2022 // Westwing, the leader in inspiration-based Home & Living eCommerce in Europe, announces preliminary and unaudited trading information for the fourth quarter and the full year 2021. Based on preliminary unaudited results, Westwing delivered continued growth on top of a very high baseline from 2020 - a testament to Westwing's unique, loyalty-driven business model. For FY 2021, topline grew significantly to EUR 522m in revenue (FY 2020: EUR 433m), realizing 21% year-over-year growth and a very strong 96% two-year growth rate. Notably, Westwing has consistently achieved growth across both its segments, with the DACH segment growing revenue by 22% year-over-year to EUR 297m and the International segment by 19% year-over-year to EUR 226m in FY 2021. The level shift in size is further reflected in Westwing's Active Customer base, which stands at 1.7 million at the end of the fourth quarter of 2021, an increase of 11% vs. the end of 2020 and 80% vs. the end of 2019. Additionally, Westwing further expanded its share of wallet with its customers as average GMV per Active Customer increased for FY 2021 to EUR 343 per Active Customer (FY 2020: EUR 328). Westwing delivered a solid fourth quarter 2021 with EUR 166m in GMV (Q4 2020: EUR 175m) against a strong baseline 2020. These extraordinary baseline effects will continue to impact growth rates well into the second quarter of 2022. In terms of profitability in FY 2021, based on preliminary unaudited results, Westwing achieved a strong Adj. EBITDA margin of 7.5 - 8.0%, which is in line with analyst consensus estimate. These profits have been realized while managing significant supply chain headwinds and associated cost Inflation in the second half of 2021, which at this point is expected to remain at least through the first half of 2022. Furthermore, strategic growth investments into key areas (Westwing Collection, Marketing and Technology) to support Westwing's future ambitions resulted in lower profitability in the short-term while providing the basis to achieve the 2024/25 targets of EUR 1 billion revenue and more than EUR 100 million of Adj. EBITDA. Profitability for FY 2021 has meanwhile been supported as planned by the tremendous growth of the strategically important Westwing Collection. The Westwing Collection leverages bestsellers tailored to the taste of its customers at good prices and high quality, while also generating superior margins. The overall increase in Westwing Collection share to 37% of GMV in the fourth quarter of 2021 (+9 percentage points increase year-over-year) has been an important milestone towards the mid-term strategic target of 50% Westwing Collection share. "The continued level shift of our business is a testament to the strength of our brand and the quality of our teams. We are investing in innovative and exciting offerings such as our Westwing Collection, our Content Marketing and Social Media channels, the Westwing Delivery Service, the Westwing Studio interior design service and Augmented Reality applications to elevate our customers' experience with us," says Westwing CEO and Founder Stefan Smalla. "By enhancing our unique assortment of products and services even further, we believe we are well positioned as the trusted Home & Living love brand of choice across all our markets." Westwing will publish its annual report for FY 2021 including outlook for FY 2022 on March 29, 2022. For further information, please visit Westwing's investor relations website at: ir.westwing.com
Note: All figures are unaudited. About Westwing Disclaimer
20.01.2022 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. |
Language: | English |
Company: | Westwing Group AG |
Moosacher Straße 88 | |
80809 Munich | |
Germany | |
Phone: | +49 (89) 550 544 377 |
Fax: | +49 (89) 550 544 445 |
Internet: | www.westwing.com |
ISIN: | DE000A2N4H07 |
WKN: | A2N4H0 |
Listed: | Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange |
EQS News ID: | 1271068 |
End of News | DGAP News Service |
|
1271068 20.01.2022
Wenn Sie mehr über das Thema Aktien erfahren wollen, finden Sie in unserem Ratgeber viele interessante Artikel dazu!
Jetzt informieren!
Nachrichten zu Westwing AGmehr Nachrichten
20.12.24 |
EQS-PVR: Westwing Group SE: Publication of acquisition or disposal in respect of own shares according Sec. 40 para. 1 sent. 2 WpHG (EQS Group) | |
20.12.24 |
EQS-PVR: Westwing Group SE: Veröffentlichung über Erwerb oder Veräußerung eigener Aktien nach § 40 Abs. 1 Satz 2 WpHG (EQS Group) | |
12.12.24 |
EQS-News: Westwing Group SE acquires approximately 1.2 million treasury shares during its public share buyback (EQS Group) | |
12.12.24 |
EQS-News: Westwing Group SE erwirbt im Rahmen eines öffentlichen Aktienrückkaufangebots rund 1,2 Mio. eigene Aktien zurück (EQS Group) | |
11.11.24 |
EQS-DD: Westwing Group SE: Christoph Barchewitz, Kauf (EQS Group) | |
11.11.24 |
EQS-DD: Westwing Group SE: Christoph Barchewitz, buy (EQS Group) | |
11.11.24 |
EQS-DD: Westwing Group SE: Dr. Andreas Hoerning, buy (EQS Group) | |
11.11.24 |
EQS-DD: Westwing Group SE: Dr. Andreas Hoerning, Kauf (EQS Group) |
Analysen zu Westwing AGmehr Analysen
07.11.24 | Westwing Buy | Jefferies & Company Inc. | |
16.01.23 | Westwing Buy | Jefferies & Company Inc. |