EQS-News: Westwing Group SE Trading Update: After a solid fourth quarter, Westwing expects FY 2024 revenue and adjusted EBITDA at the upper end of the guidance

Westwing Group SE Trading Update: After a solid fourth quarter, Westwing expects FY 2024 revenue and adjusted EBITDA at the upper end of the guidance

• Based on preliminary unaudited results, full-year GMV amounted to EUR 497 million (+3% year-over-year). Revenue is expected at the upper end of the FY 2024 guidance of EUR 415 million to EUR 445 million.
• Management expects adjusted EBITDA at the upper end of the FY 2024 guidance of EUR 14 million to EUR 24 million.
• Westwing achieved a positive free cash flow of EUR 9 million in FY 2024 and maintained a strong net cash balance of EUR 69 million, despite share buybacks and one-off costs for restructuring.
• The Westwing Collection share continued to increase in the fourth quarter of 2024 year-over-year, resulting in a full-year improvement of +8 percentage points year-over-year to 55% of GMV in FY 2024.

Munich, 27 January 2025 // Westwing Group SE (“Westwing” or “the Company”), Europe‘s #1 in Beautiful Living e-commerce, announces preliminary and unaudited trading information for the fourth quarter and the full year 2024.

Gross Merchandise Volume (GMV) in the fourth quarter of 2024 rose by +1% year-over-year to EUR 149 million (Q4 2023: EUR 147 million). As expected, the strategic switch to a mostly global and more premium product assortment continued to dampen topline growth in the final quarter of the year to a greater extent than in previous quarters.

FY 2024 GMV increased by +3% year-over-year to EUR 497 million (FY 2023: EUR 481 million). In line with GMV development, revenue for FY 2024 is expected to be at the upper end of the guided range of EUR 415 million to EUR 445 million.

In terms of profitability, Westwing expects a positive adjusted EBITDA in the fourth quarter of 2024 and an adjusted EBITDA for FY 2024 at the upper end of the guidance (adjusted EBITDA guidance: EUR 14 million to EUR 24 million). Westwing generated positive free cash flow in the fourth quarter of 2024, resulting in a full-year free cash flow of EUR 9 million for FY 2024. The Company maintained a strong net cash position of EUR 69 million, despite share buybacks of EUR 11 million and one-off restructuring costs associated with complexity reduction measures.

Westwing also achieved important operational targets in line with the second phase of the 3-step plan to unlock the full value potential of the Company. This includes the increase of the Westwing Collection share by +11 percentage points year-over-year to 58% of GMV in the fourth quarter of 2024 (Q4 2023: 47%), which resulted in a new full-year all-time high of 55% of GMV (FY 2023: 47%). In addition, Westwing migrated all remaining countries to the new, mostly Software-as-a-Service (SaaS) based technology platform.

Westwing will publish its Annual Report for FY 2024 including the outlook for FY 2025 on 27 March 2025.

For further information, please visit Westwing's investor relations website at: ir.westwing.com

About Westwing

Westwing, Europe’s #1 in Beautiful Living e-commerce, is present in 12 European countries and achieved a GMV (Gross Merchandise Volume) of EUR 497 million in 2024. As Europe’s premium one-stop destination for Design Lovers, it offers a unique brand experience with a carefully curated assortment of the Westwing Collection and 3rd party design brands. The integrated platform combines Shop, Daily Specials, Stores, the B2B Service (Westwing Business) and the Westwing Design Service. Westwing’s team works together on its shared purpose to “Excite people to create homes that unlock the full beauty of life”. Founded in 2011, Westwing is headquartered in Munich and went public on the Frankfurt Stock Exchange in October 2018.
 

Disclaimer

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 we undertake no obligation to update or revise these statements. Our actual results may differ materially and adversely from any forward-looking statements discussed in these statements due to a number of factors. These include, without limitation, risks from macroeconomic developments, external fraud, inefficient processes at fulfilment centres, inaccurate personnel and capacity forecasts for fulfilment centres, hazardous materials/production conditions with regard to private labels, insufficient innovation capabilities, inadequate data security, insufficient market knowledge, strike risks and changes in competition levels.
 

Contact

Westwing Group SE
Investor Relations
E-Mail: ir@westwing.de