Westwing Group SE - Management Reports 2022

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Ad-hoc | 28 March 2022 18:34

Westwing Group SE provides guidance for the full year 2022

Westwing Group SE / Key word(s): Forecast

Westwing Group SE provides guidance for the full year 2022

28-March-2022 / 18:34 CET/CEST

Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by DGAP – a service of EQS Group AG.

The issuer is solely responsible for the content of this announcement.

Westwing Group SE provides guidance for the full year 2022

Munich, March 28, 2022 // Westwing Group SE (“Westwing”, “the Company”) provides guidance for the full year 2022.

Based on the Company’s planning process, various scenario analysis and 2022 current trading, the Management Board of the Company decided today on the guidance for the full year 2022.

The Company expects revenues for FY 2022 between EUR 460 million and EUR 540 million with a growth rate of -12% to +3% in FY 2022, with positive growth rates expected again for the second half of FY 2022. The Company’s revenue guidance reflects the intensified adverse market developments and significantly lower consumer sentiment observed across all segments and customer groups over the last months.

Given the lower revenue expectations, taken strategic growth investments, and continued negative effects from global supply chain disruptions, Westwing plans for an Adjusted EBITDA of EUR -9m to EUR +16m at an Adj EBITDA margin between negative 2% and positive 3% for FY 2022, with an expected better Adj EBITDA profitability in the second half of FY 2022.

This guidance is provided in times of high uncertainty around consumer sentiment, supply chain disruptions, inflation and geopolitical developments and assumes no further deterioration during the remainder of 2022.

The Company remains confident in the mid to long-term Home and Living eCommerce market potential and Westwing’s strategy. At the moment it foresees the achievement of its mid-term targets of EUR 1 billion in revenues and more than EUR 100 million Adj. EBITDA by 2026.

Westwing will publish its Annual Report 2021 on March 29, 2022. Regarding the exact definition of the alternative performance measure Adjusted EBITDA, the Company refers to the corresponding definition in its Annual Report 2020, which has been published on the Company’s website.

Contact

Investor Relations

email: [email protected]

Westwing Group SE

Moosacher Straße 88

80809 München, Germany

28-March-2022 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.

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Language:	English
Company:	Westwing Group SE
	Moosacher Straße 88
	80809 Munich
	Germany
Phone:	+49 (89) 550 544 377
Fax:	+49 (89) 550 544 445
Internet:	www.westwing.com
ISIN:	DE000A2N4H07
WKN:	A2N4H0
Listed:	Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange
EQS News ID:	1313669