Westwing Group AG continues increased marketing investments based on more than 10% Q3 GMV growth and adjusts guidance for profitability in 2019
Westwing Group AG / Key word(s): Change in Forecast
Munich, September 25, 2019 - Based on positive actual and expected results of increased marketing investments over the last months (with Q3 GMV returning to more than 10% growth), Westwing intends to continue increased marketing investments also in the fourth quarter of 2019 as foundation for future growth.
Consequently, Westwing reassessed the outlook for 2019 today. For 2019, Westwing now expects Adjusted EBITDA margin at around -3.5% within a range of one percentage point (previously: lower end of -1% to +1%). It expects Free Cash Flow to not exceed outflows of EUR -29 million (previously: no lower than EUR -25 million).
As announced with the publication of the results of the first half of the year, Westwing expects to finish the year 2019 at the lower end of the updated guidance of 6-12% revenue growth. While Adjusted EBITDA for the third quarter of 2019 is expected on similar levels as in the first half of the year, Westwing expects a positive Adjusted EBITDA and more than 10% revenue growth for the fourth quarter of 2019.
Westwing will report its financial figures for the third quarter on November 7, 2019.
Lorenz Erik Wittjen
|Company:||Westwing Group AG|
|Moosacher Straße 88|
|Phone:||+49 89 550 544 377|
|Listed:||Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange|
|EQS News ID:||880105|
|End of Announcement||DGAP News Service|