Westwing Group AG: FY 2021 - Westwing expects revenue of EUR 510-550 million and EUR 42-55 million Adj EBITDA
Westwing Group AG / Key word(s): Forecast
Munich, March 29, 2021 // Westwing Group AG publishes its guidance for FY 2021, which is above current market expectations due to an extraordinarily strong start into the year.
Based on preliminary estimates, Westwing expects Q1 2021 revenue growth of c. 100% compared to Q1 2020. Q1 2021 Adj EBITDA margin is expected to be around 14-15%.
Given this strong performance in Q1 2021, Westwing now expects to grow FY 2021 revenues to EUR 510-550 million at 18-27% growth rate. Furthermore, Westwing expects to continue to grow profitably with an Adj EBITDA of EUR 42-55 million at 8-10% Adj EBITDA margin in FY 2021.
The average of the analysts' consensus for FY 2021, surveyed by the Company as of March 29, 2021, was EUR 490 million for revenue and EUR 34 million for Adj EBITDA (6.9% Adj EBITDA margin).
In FY 2020, Westwing achieved a revenue of EUR 433 million, accelerating its growth to 62% year-over-year. Moreover, Westwing realized strong profitability of EUR 50 million Adj EBITDA corresponding to an Adj EBITDA margin of 11.5% for FY 2020.
Westwing will publish its Annual Report for FY 2020 and will provide further comments on the FY 2021 guidance on March 30, 2021, at 08:00 am CEST.
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
29-March-2021 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
|Company:||Westwing Group AG|
|Moosacher Straße 88|
|Phone:||+49 (89) 550 544 377|
|Fax:||+49 (89) 550 544 445|
|Listed:||Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange|
|EQS News ID:||1179404|
|End of Announcement||DGAP News Service|