Allegro.eu S.A. — Earnings Release 2022

Aug 4, 2022

Selected preliminary consolidated financial data for Allegro Group for the three-month period ended 30 June 2022 (Q2 2022) and the six-month period ended 30 June 2022 (H1 2022).

Table 1. Preliminary results of Allegro.eu and its consolidated subsidiaries operating in Poland, excluding Mall Group and WE|DO

(unaudited)	H1 2022	Change % YoY	Q2 2022	Change % YoY
Income Statement PLN m
GMV	22,934.1	14.5%	12,110.1	16.0%
Revenue	2,992.7	18.8%	1,600.1	22.3%
Adjusted EBITDA	1,014.2	(7.4%)	551.3	(1.5%)

Table 2. Preliminary results of Mall Group and WE|DO

(unaudited)	Q2 2022	Change % YoY1)	Q2 2021 pro-forma2)	Change % YoY pro forma2)
Income Statement PLN m
GMV	787.9	N/A	838.1	(6.0%)
Revenue	610.7	N/A	684.2	(10.8%)
Adjusted EBITDA	(67.1)	N/A	(17.2)	N/A3)

Notes:

• 1) not applicable as Mall Group and WE|DO results was not part of the Group in Q2 2021
• 2) historical GMV data for Mall based on pro-forma for the same organizational structure as acquired by the Group
• 3) not applicable, as the pro-forma comparative was a negative number with EBITDA loss amounting to PLN 17.2m in the comparable pro-forma period

Comment on Mall Group and WE|DO performance

Mall as a stand-alone business experienced weaker consumer demand YoY in Q2, which impacted both GMV and margins. Management notes that Mall's margins historically improve in the second half of the year due to seasonal effects. The Group remains on track to deploy the Allegro marketplace platform to Mall markets in 2023.

Table 3. Preliminary consolidated results of Allegro.eu Group

(unaudited)	H1 2022	Change % YoY	Q2 2022	Change % YoY1
Income Statement PLN m
GMV	23,721.7	18.4%	12,897.7	23.5%
Revenue2)	3,602.7	43.1%	2,210.1	69.0%
Adjusted EBITDA	947.1	(13.6%)	484.2	(13.5%)

Notes:

• 1) Q2 2021 and does not include consolidation with Mall Group and WE|DO
• 2) Preliminary consolidated results include the impact of elimination of intercompany transactions

Guidance status

Guidance for 2022 is currently unchanged. Group Management expects to provide further comment on progress towards its full year guidance at the final Q2 results announcement scheduled for 29 September.

Current trading

During July 2022 until the date of this report, the Board has noted GMV growth that is consistent with the Group's current expectations for GMV in FY 2022. Allegro noted a continued sequential acceleration in the YoY GMV growth trend delivering GMV growth in July in the mid-20s % YoY. Furthermore, Mall Group and WE|DO entities have been achieving positive YOY GMV growth since late June and delivered GMV growth for July in the single-digits % YoY.