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Vente-Unique.com
Earnings Release • May 12, 2021
1741_iss_2021-05-12_0d54e840-afd5-447c-b7f2-aa18a76dd8fd.pdf
Earnings Release
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Continued acceleration of revenue growth in Q2 2021 (up 75%), improved profitability and full-year target raised
12 May 2021. Vente-Unique.com, a European specialist in online furniture sales, today announces its unaudited revenues for the first half of its 2020-2021 financial year (from 1 October to 31 March 2021).
After a strong growth in its activity (up 68%) in Q1 2020-2021, Vente-unique.com recorded a further acceleration in the second quarter (up 75%), bringing the first-half revenues to €88.4 million, up 72% versus H1 2019-2020. Encouraged by this outstanding momentum and a persistently promising outlook, the company has raised its full-year target.
| IFRS (€000) | 2019-2020 | 2020-2021 | Change |
|---|---|---|---|
| Q1 | 26,259 | 44,152 | +68% |
| Q2 | 25,221 | 44,258 | +75% |
| H1 | 51,480 | 88,410 | +72% |
This growth surge confirms the accelerating trend towards digitization in the European furniture market driven by the health crisis. The trend also crowns the success of Vente-Unique.com's investments focused on optimising the logistics chain, an operation successfully completed on 1 July 2020, and the company's ability to anticipate market trends thanks to the expertise of its sourcing teams.
Sustained growth across all regions
| IFRS (€000) | 2019-2020 | 2020-2021 | Change |
|---|---|---|---|
| France | 29,280 | 47,173 | +61% |
| Northern and Eastern Europe1 | 14,681 | 28,659 | +95% |
| Southern Europe2 | 7,519 | 12,578 | +67% |
| Total | 51,480 | 88,410 | +72% |
1 Austria + Belgium + Germany + Luxembourg + Netherlands + Poland + Switzerland
2 Italy + Portugal + Spain
France posted first-half revenues of €47.2 million, representing a homogeneous and very strong growth rate of 61% over the first six months of the year.
The upswing was even more pronounced in other regions. Northern and Eastern Europe (€28.7 million) achieved the best performance with revenues up 84% in Q1 and up 106% in Q2. Southern Europe (€12.6 million) also performed strongly, posting revenues up 58% in Q1 and up 79% in Q2.
Marked improvement expected in adjusted EBITDA3 margin
Combined with tight cost control, the first-half sales surge has led to a significant increase in H1 operating margin. Accordingly, the adjusted EBITDA margin is expected to improve sharply compared to H1 2019- 2020 (5.1% of revenues), higher than its level in H2 2019-2020 (10.9%).
FY 2020-2021 revenues set to exceed €150 million
Confident in its ability to win over, retain and satisfy an ever-growing number of customers, Vente-Unique.com is now targeting growth between 30% and 40% for the financial year ending 30 September 2021. Such a growth rate on the back of a more demanding base effect in H2 (up 40% in 2019-2020) will enable the company to generate revenues of over €150 million for the full 2020-2021 financial year. The company will reach this level of activity one year ahead of the target set in 2018 at the time of its IPO and will have doubled in size in just 4 years.
Next publication: H1 2020-2021 earnings, Wednesday 16 June 2021
Read more on bourse.vente-unique.com
About Vente-unique.com
Founded in 2006, Vente-unique.com (Euronext Growth: ALVU), subsidiary of CAFOM Group (Euronext – CAFO), 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
3 Adjusted EBITDA = operating income before non-recurring items + net depreciation, amortization, provisions and impairment losses - reversals of unused provisions and impairment losses + valuation of bonus shares
delivered to over 1.9 million customers since its inception. In 2020, Vente-unique.com posted revenues of € 119 million, up 24%.
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Jérôme Fabreguettes-Leib Nicolas Bouchez Investor Relations Press Relations [email protected] [email protected]