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Vente-Unique.com
Earnings Release • Nov 12, 2020
1741_iss_2020-11-12_8f416ff1-c425-4e2e-9058-6ad0ccf7c9ef.pdf
Earnings Release
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2019-2020 revenue target exceeded and expected profitability well on track
12 November 2020. Vente-Unique.com, a European specialist in online furniture sales, today announces its unaudited revenues for the 2019-2020 financial year (1 October 2019 to 30 September 2020).
For the first time ever, the Company crossed the €100 million revenue mark (€118.9 million) and posted year-on-year growth of +24%, outperforming its revenue growth target of 20%. Combined with tight control of costs, this surge in business allows Vente-Unique.com to confirm its full-year profit margin target.
| IFRS (€000) | 2018-20191 | 2019-2020 | Change |
|---|---|---|---|
| Q1 | 24,126 | 26,260 | +9% |
| Q2 | 24,765 | 25,220 | +2% |
| Q3 | 21,933 | 31,877 | +45% |
| Q4 | 25,021 | 35,495 | +42% |
| Total | 95,845 | 118,852 | +24% |
After limited growth during the first half due to the onset of the health crisis (temporary supply chain issues with Asia followed by the impact of the first lockdown period), the second half saw a sharp rise in the trend towards e-commerce already observed on the European furniture market. As a result, Vente-Unique.com posted second half growth of over 40%.
All regions achieved double-digit growth. France (€66.5 million full-year revenues) posted full-year growth of 19% and 40% growth for the fourth quarter, driven by market share gains over struggling bricks-and-mortar retailers.
The international segment, which now accounts for 44% of revenues (up 2 percentage points year-onyear), posted 30% growth. Northern and Eastern Europe (€35.6 million) continued to achieve the best sales performance with revenues up 42%. Southern Europe (€16.8 million) achieved growth of 11% despite being hard hit by the health crisis.
1 2018-2019 revenues were restated for the eco-contribution pursuant to IFRS 15 in order to ensure full comparability with 2019- 2020 data. Published revenues amounted to €96,457,000.
Expected EBITDA margin well on track
As expected, Vente-Unique.com is reaping the full benefits of its logistics optimisation drive, following successful completion of the internalisation phase on 1 July 2020, in order to leverage the increasing digitisation of the market. While this process aimed at maximising quality and end customer satisfaction impacted H1 2019-2020 profit margin (EBITDA margin 2 4.7% versus 7.4% in H1 2018-2019), the Company started to reap the benefits during the second half.
Under these circumstances, Vente-Unique.com is targeting a full-year EBITDA margin exceeding last year's (7.1% in FY 2018-2019) driven by double-digit profit margin in H2 2019-2020.
Strong sales surge set to continue
The strong sales surge established in H2 2019-2020 has continued into the first weeks of the new financial year beginning on 1 October. Vente-Unique.com is therefore confident in its ability to achieve sustained sales growth throughout the year in keeping with its balanced profitable growth model.
Next publication: FY 2019-2020 earnings, 11 January 2021, before start of trading
Read more on: bourse.vente-unique.com
About Vente-unique.com
Founded in 2006, Vente-unique.com (Euronext Growth: ALVU) is a European specialist in online furniture sales. The company covers 11 countries (France, Austria, Belgium, Germany, Italy, Luxembourg, Netherlands, Poland, Portugal, Spain and Switzerland) and has delivered to over 1.5 million customers since its inception. In 2020, Vente-unique.com posted revenues of €119 million, up 24%.
ACTUS finance & communication
Jérôme Fabreguettes-Leib Nicolas Bouchez Relations Investisseurs Relations Presse [email protected] [email protected] +33 (0) 1 53 67 36 78 +33 (0) 1 53 67 36 74
2 EBITDA = earnings before interest, tax, depreciation and amortisation