The Düsseldorf-based e-commerce group The Platform Group AG is setting its sights on the future. On Wednesday, the group presented its long-term plans for the coming years under the motto “Vision 2030”.
Accordingly, the group is aiming for annual sales of at least three billion euros by 2030. The gross merchandise volume (GMV) is expected to grow to at least 4.5 billion euros. The company wants to increase the margin, which was recently at eight percent, to a double-digit figure.
“In addition, there are plans to expand the country focus, increase the number of industries to over 50 and specifically expand M&A activities,” it said in a statement. The aim is to increase the number of connected partner providers on the platforms operated by the group “from the current 15,900 to over 40,000 partners”.
Management wants to increase profitability with a new package of measures
In order to realize these ambitions, the group is relying on a new package of measures. In addition to improving internal key figures, “portfolio optimization” and the consistent use of artificial intelligence (AI) should also contribute to the desired increase in profitability.
The company stated that it was planning further acquisitions, but at the same time it was reviewing existing investments in view of the higher margin targets. “As part of Vision 2030, the Board of Directors has decided to divest from small investments whose sales volume is too low or there is no relevant contribution to earnings,” explained the group. As part of a portfolio review of the margin targets, management “identified three investments that together account for less than 0.2 percent of group sales.” The plan is now to sell these “in the short term in order to further increase the focus on the key investments”.
The group relies on the consistent use of AI
The group also announced that “from now on, all processes, new hires and tasks will first be checked for AI optimization and decisions will be made specifically afterwards.” The aim is to “significantly reduce costs, automate processes and reduce personnel expenses”. The aim is to “control and optimize over 60 percent of the company’s internal processes using AI in the future,” the company said. This would “particularly affect the areas of software development, online marketing as well as personnel/HR, finance and content.”
CEO Dominik Benner summarized the plans. “We will significantly develop TPG further in the next few years. Our Vision 2030 shows that we are moving much more into forward mode and aiming for a significant expansion of the business,” he emphasized in a statement. “However, this will not happen on its own. We will make changes so that the continuation of our strategy can be consistently implemented. This includes a clear AI strategy and the associated cost effects. Our goal is to increase our margins into the double-digit percentage range. The basis for our growth will be the significantly increasing number of dealers and the expansion of industries with a significant strengthening of our international presence.”