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Westwing Group AG: Updated guidance for the FY 2020

Westwing Group AG / Key word(s): Change in Forecast
Westwing Group AG: Updated guidance for the FY 2020

03-Sep-2020 / 18:59 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

Munich, September 3, 2020 // Westwing Group AG ("Westwing") increases its guidance for the full year 2020.

For the third quarter of 2020, Westwing has so far experienced a substantially more favorable development than expected. Despite lock-down measures being eased, growth continued to be on an elevated level with Q3-to-date GMV growth of c. 55% compared to the same period in the previous year. We continuously see this growth driven by increased demand from our existing customers as well as ongoing strong new customer acquisition across the company's entire country portfolio. 

Consequently, Westwing increases its full year 2020 revenue growth guidance to between 40% and 50% compared to the full year 2019 (previously between 25% and 35%). Given this higher growth guidance and its subsequent scale effects as well as ongoing strong contribution margin, Westwing also increases its full year 2020 Adjusted EBITDA margin guidance to between 6% and 8% (previously between 3% and 5%).

Westwing will publish its financial statements for the third quarter of 2020 on November 10, 2020. Regarding the exact definition of the alternative performance measures, GMV (Gross Merchandise Volume) and Adjusted EBITDA, the company refers to the corresponding definitions in its Annual Report 2019, which has been published on the company's website.

Lorenz Erik Wittjen
General Counsel

03-Sep-2020 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
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