Westwing Group AG: Preliminary indications for Q3 2020 results and raised guidance for the FY 2020
Westwing Group AG / Key word(s): Change in Forecast/Quarter Results
Munich, October 19, 2020 // Westwing Group AG ("Westwing") raises its guidance for the FY 2020 due to a strong Q3 2020 and ongoing elevated demand levels.
Based on preliminary indications, Q3 2020 revenue grew by c. 66% compared to Q3 2019. This strong growth was driven by an ongoing consumer demand shift towards eCommerce. Adjusted EBITDA margin for Q3 2020 is expected to be between 10% and 11%, a significant improvement compared to the previous year (Q3 2019: Adjusted EBITDA Margin -7.1%).
Given the strong Q3 2020 and a very strong start into Q4 2020, Westwing raises its guidance for the FY 2020. Westwing now expects revenue to be in the range from EUR 415m to EUR 440m, a 55-65% growth compared to FY 2019 (previously: 40-50%). Adjusted EBITDA margin for the full year 2020 is now expected to be between 9% and 11% (previously: 6-8%) and absolute Adjusted EBITDA between EUR 37m and EUR 48m.
Westwing will publish its full Q3 2020 results on November 10, 2020. Regarding the definition of the alternative performance measure "Adjusted EBITDA", Westwing refers to the corresponding definitions in its Annual Report 2019, which has been published on the Company's website.
Lorenz Erik Wittjen
Certain statements in this communication may constitute forward looking statements. These statements are based on assumptions that are believed to be reasonable at the time they are made and are subject to significant risks and uncertainties. You should not rely on these forward-looking statements as predictions of future events and the Company undertakes no obligation to update or revise these statements. The Company's actual results may differ materially and adversely from any forward-looking statements discussed in this press release due to a number of factors, including without limitation, risks from macroeconomic developments, external fraud, inefficient processes at fulfilment centres, inaccurate personnel and capacity forecasts for fulfilment centres, hazardous material / conditions in production with regard to private labels, lack of innovation capabilities, inadequate data security, lack of market knowledge, risk of strike and changes in competition levels
|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:||1141719|
|End of Announcement||DGAP News Service|