The e-commerce group The Platform Group AG is looking confidently into the recently begun 2024 financial year. According to a statement published on Tuesday, the group of companies, which emerged from the merger of Fashionette AG with The Platform Group GmbH & Co KG last fall, expects Improvements in all key metrics.
For the current year, management expects a consolidated gross merchandise volume (GMV) in the range of 760 to 800 million euros. The current pro forma forecast for 2023 is 700 million euros. Net sales are expected to increase from 440 million euros to 460 to 470 million euros.
According to the company, an increase in operating profit is also expected thanks to the “cost and efficiency program” implemented last year. Earnings before interest, taxes, depreciation and amortization (EBITDA) adjusted for special effects are expected to be between 24 and 28 million euros. The pro forma forecast for 2023 is 20 million euros. The sales and earnings contributions from business areas that have already been discontinued or are soon to be discontinued are not included in the current forecasts.
CEO Benner expects a “new record year”
Given the positive outlook, CEO Dominik Benner was optimistic: “We expect a new record year for 2024, both in terms of sales and results,” he explained in a statement. “Our strategy of consistently using our software solutions in numerous industries, buying attractive platform companies, increasing values and thereby operating permanently profitable platforms is paying off.”
In the medium term, the group says it is targeting an increase in GMV to one billion euros and an adjusted EBITDA margin in the range of seven to ten percent.