windeln.de SE — AGM Information 2021

Jun 24, 2021

Hauptversammlung windeln.de SE X

1. Mai 2021

Strategische Zielsetzung

Überblick

2021 ist ein weiteres Jahr der Transformation

Strategische Projekte Wir arbeiten an wesentlichen Projekten, um unsere Profitabilität zu stärken und Wachstum zu erzielen

• (Sean Wei und Matthias Peuckert)

China Fokus

China ist mit 72 Prozent des Umsatzes weiterhin wichtigster Markt

Wachstum (Growth) Lokales China-Team voll operativ Vertriebsplattform JD.com lanciert und BabyTree (Mai 2021) Umzug europäisches Zentrallager Neue Produktkategorien Ausbau neuer Geschäftszweig Export 2021 Europa (cont.) China 71,7% 28,3% Umsatz Q4 2020 EUR 17,3m Struktur (Set-up)

Sehr starkes Umsatzwachstum in

…welches Kapital benötigt

Wesentliche Entwicklungen in 2020

Umsatz konnte in Europa trotz Corona-Einschränkungen gesteigert werden Umsatz Europe (continued)

von Insolvenz des Servicepartners auf 2021 verschoben

In 2020 lag der Fokus im übrigen Europa auf der Prüfung der Veräußerung des Bebitus-Geschäfts Umsatz Bebitus (discontinued)

vorangetrieben

Verbesserung Produktmargen

Umsatz in China steigt im Jahresvergleich Zahlen in Q4 bleiben unter Zielvorgaben Umsatz China

Verlustanzeige nach § 92 AktG

Verlustanzeige nach § 92 AktG

Verlust von mehr als der Hälfte des Grundkapitals eingetreten

• Im Wesentlichen durch operative Verluste entstanden
• Eine Verbesserung der Finanzlage zur Finanzierung des geplanten Umsatzwachstums wird angestrebt
• Dafür ist die Durchführung einer weiteren Kapitalerhöhung in Q2 2021 geplant
• Alternative Finanzierungsoptionen werden weiterhin geprüft

Finanzielle Entwicklung und Ausblick

Pandemiebedingter Anstieg von Online-Einkäufen sorgte 2020 für höheren Umsatz Umsatz Gruppe

4,9 17,3 Umsatz 2020 (Jahresvergleich) 51,3 ⁵⁶ 15,6 12,4 18,8 20 4,8 4,9 2019 2020 Q4 2019 Q4 2020 70,1 76,1 20,3 in Mio. Euro, only continued 17,3 • Temporäre Lieferschwierigkeiten aufgrund zu hoher Nachfrage dämpfen Umsatz • Die Umsatzentwicklung wurde auch durch einen Datensicherheitsvorfall beeinträchtigt +8% -15%

China Europa (cont.)

Profitabilität

Im Zeitablauf Verbesserungen bei Deckungsbeitrag, EBIT und Mittelabfluss erzielt

Kapitalerhöhung

Weiterer Ausbau des Unternehmens unter Ausnutzung des von der Hauptversammlung am 24. Juni 2020 beschlossenen genehmigten Kapitals in Höhe von EUR 4.080.122

Aktionärsstruktur im Überblick

Mai 2021

Disclaimer: The shareholder structure pictured above is based on the published voting rights announcements. Free Float (> 3 %): 16.3 % ISINs: DE000WNDL201 und DE000WNDL128

Cash Flow

Verbesserter Cash Flow resultiert aus Rückgang des Nettoumlaufvermögens

Vorratsvermögen (Mio. Euro)*

Liquidität

Liquidität durch Kapitalerhöhungen gestärkt, aber in Maßnahmen zur Kostensenkung sowie in China-Wachstum re-investiert

Outlook

2021: Sehr starkes Umsatzwachstum und deutliche Verbesserung des bereinigten EBIT

Appendix

Key performance indicators quarter over quarter

Key performance indicators quarter over quarter
Continued Operations	Q1 '19	Q2 '19	Q3 '19	Q4'19	Q1' 20	Q2 ' 20	Q3' 20	Q4'20
Site Visits (in thousand) ¹ 4	6,787	6,157	6,672	6,130	4.,299	4,670	5,572	6,187
Mobile Visit Share (in % of Site Visits) 2	80.1%	80.8%	74.2%	86,3%	84.1%	82,8%	89.2%	90.2%
Mobile Orders (in % of Number of Orders) 3	61.2%	59.9%	61.7%	59,0%	59.5%	63.3%	64.9%	66.3%
Active Customers (in thousand) 4	355	334	329	304	299	297	282	283
Number of Orders (in thousand) 5	150	138	146	138	124	113	106	139
Average Orders per Active Customer (in number of Orders) 6	2.1	2.2	2.0	2,1	1.8	1.8	1.7	1.7
Orders from Repeat Customers (in thousand) 7	110	102	105	101	85	74	69	65
Share of Repeat Customer Orders (in % of Number of Orders) 7	74.8%	73.8%	72.6%	72.1%	71.0%	68.9%	67.6%	65.4%
Gross Order Intake (in kEUR) 8	13,399	12,899	12,561	13,346	11,597	9,899	8,677	12,217
Average Order Value (in EUR) 9	89.59	93.78	86.10	96.79	93.38	87.55	82.23	87.96
Returns (in % of Gross Revenues from orders) 10	3.4%	2.5%	2.9%	2.2%	4.6%	1.6%	2.5%	2.0%

Definitions of key performance indicators

• 1) We define site visits as the number of series of page requests from the same device and source in the measurement period and include visits to our online magazine. A visit is considered ended when no requests have been recorded in more than 30 minutes. The number of site visits depends on a number of factors including the availability of the offered products, the effectiveness of our marketing campaigns and the popularity of our online shops. Measured by Google Analytics. 2) We define mobile visit share (as % of site visits) as the number of visits via mobile devices (smartphones and tablets) to our mobile optimized websites and 3) We define mobile orders (as % of number of orders) as the number of orders via mobile devices to our mobile optimized websites and mobile apps divided by 4) We define active customers as the number of unique customers placing at least one order in one of our shops in the 12 months preceding the end of the
• mobile apps divided by the total number of site visits in the measurement period. Site visits of our online magazine are fully excluded since Q3 2020. Measured by Google Analytics.
• the total number of orders in the measurement period. Since Q1 2017, orders from China are included. Measured by Google Analytics.
• measurement period, irrespective of returns..
• 5) We define number of orders as the number of customer orders placed in the measurement period irrespective of returns. An order is counted on the day the customer places the order. Orders placed and orders delivered may differ due to orders that are in transit at the end of the measurement period or have been cancelled. Every order which has been placed, but for which the products in the order have not been shipped (e. g., the products are not available, or the customer cancels the order), is considered ''cancelled''. Cancellations are deducted from the number of orders. 6) We define average orders per active customer as number of orders divided by the number of active customers in the last 12 months. 7) We define orders from repeat customers as the number of orders from customers who have placed at least one previous order, irrespective of returns. The share 8) We define gross order intake as the aggregate Euro amount of customer orders placed in the measurement period minus cancellations. The Euro amount 9) We define average order value as gross order intake divided by the number of orders in the measurement period.. 10) We define returns (as % of gross revenues from orders) as the returned amount in Euro divided by gross revenues from orders in the measurement period. Since Q2 2016 including Bebitus returns. Gross revenues from orders are defined as the total aggregated Euro amount spent by our customers minus
• of repeat customer orders represents the number of orders from repeat customers in the last twelve months divided by the number of orders in the last twelve months.
• includes value added tax and excludes marketing rebates.
• cancellations but irrespective of returns. The Euro amount does not include value added tax

Income statement (continued operations)

Income statement (continued operations)
kEUR	FY 2019	FY 2020	Q4 2019	Q4 2020
Revenues	70,46	76,067	20,311	17,314
Cost of sales	-52,179	-59,883	-14,597	-14,319
Gross profit	17,967	16,184	5,714	3,005
% margin	25.6%	21.3%	28.1%	17.4%
Selling and distribution expenses	-21,707	-19,038	-5,417	-4,777
Administrative expenses	-8,000	-6,319	2,222	-2,244
Other operating income	766	809	199	94
Other operating expenses	-118	-305	-14	-102
EBIT	-11,092	-8,669	-1,740	-4,023
% margin	-15.8%	-11.4%	-8.6%	-23.3%
Financial result	-68	-67	-14	-28
EBT	-11,160	-8,737	-1,754	-4,052
% margin	-15.9%	-11.5%	-23.4%	-8.6%
Income taxes	-7	-4	0	1
Profit or loss from continuing operations	-11,667	-8,740	-1.754	-4.051
% margin	-15.9%	-11.5%	-23.4%	-8.6%
Profit or loss after taxes from discontinued operations	-3,445	-5,008	-956	-767
Profit or loss for the period	-14,612	-13,748	-2,521	-5,007
EBIT	-11,092	-8,669	-1,740	-4,023
Share-based compensation	38	61	10	926
Acquisition, integration and expansion costs	45	0	-3	-0
Reorganization	20	-	34	-
Intangible assets	644	-	644	-
Warehouse move	28	250	28	0
De-Consolidation	-	-207	-	-
Adjusted EBIT	-10,316	-8,566	--1,026	-3,099
% margin	-14.7%	-11.3%	-5.0%	-17.9%

Footnotes to page 14 – Erklärung zu Bereinigungen

Note: Adjusted continuing operations shown (i.e. excluding discontinued operation Bebitus).

• 1 Fulfilment costs consist of logistics and warehouse rental expenses which are recognized within selling and distribution expenses in the consolidated statement of profit and loss and adjusted for the bankruptcy of the warehouse provider KFG in Q1 2020
• the marketing tools of the Group.
• ² Marketing costs mainly consist of advertising expenses, including search engine marketing, online display and other marketing channel expenses, as well as costs for ³ Other selling, general and administration expenses (other SG&A expenses) consist of selling and distribution expenses, excluding marketing costs and fulfilment costs, and administrative expenses as well as other operating income and expenses. Adjusted other SG&A expenses exclude expenses from share-based compensation, reorganization measures, de-consolidation, the warehouse move, impairments of purchased intangible assets (if applicable in the reporting period)

Balance sheet and cash flow statement

Financial statements Balance sheet and cash flow statement
Consolidated statement of financial position		Consolidated statement of cash flows
kEUR	December 31, 2019	December 31, 2020	kEUR
Total non-current assets Inventories	3,641 7,339	3,637 4,078	Net cash flows from/used in
Prepayments Trade receivables	1 838	435 717	Net cash flows from/used in
Miscellaneous other current assets1 Cash and cash equivalents	4,613 8,377	2,555 8,530	Net cash flows from/used in
Total current assets Total assets	21,168 24,809	16,316 21,043	Cash and cash equivalents at
Issued capital Share premium	2,989 172,904	10,982 173,713	Net increase/decrease in
Accumulated loss Cumulated other comprehensive income	-160,734 200	-174,481 -11	Cash and cash equivalents
Total equity	15,359	10,203
Total non-current liabilities Other provisions	101 288	1,738 138
Financial liabilities	519	603
Trade payables	3,639	3,489
Deferred revenue	2,287	2,210
Miscellaneous current liabilities2	2,616	2,616	and other current non-financial assets.
Total current liabilities	9,349	9,101
Total equity & liabilities	and other current non-financial liabilities. 24,809 21,043

	Balance sheet and cash flow statement
Consolidated statement of financial position			Consolidated statement of cash flows
	December 31, 2019	December 31, 2020	kEUR	FY 2019	FY 2020	Q4 2019	Q4 2020
Total non-current assets	3,641	3,637	Net cash flows from/used in
Inventories	7,339	4,078	operating activities	-11,567	-7,070	-887	224
Prepayments	1	435	Net cash flows from/used in
Trade receivables	838	717	investing activities	257	-484	-100	-38
Miscellaneous other current assets1	4,613	2,555		8,547	7,713	-319	2,870
Cash and cash equivalents	8,377	8,530	Net cash flows from/used in financing activities
Total current assets	21,168	16,316
Total assets	24,809	21,043	Cash and cash equivalents at the beginning of the period	11,136	8,377	9,683	5,476
Issued capital	2,989	10,982	Net increase/decrease in	-2,763	153	-1,306	3,054
Share premium	172,904	173,713	cash and cash equivalents
Accumulated loss	-160,734	-174,481	Cash and cash equivalents	8,377	8,530	8,377	8,530
Cumulated other comprehensive income	200	-11	at the end of the period
Total equity	15,359	10,203
Total non-current liabilities	101	1,738
Other provisions	288	138
Financial liabilities	519	603
Trade payables	3,639	3,489
Deferred revenue	2,287	2,210
Miscellaneous current liabilities2	2,616	2,616	1 Miscellaneous other current assets include income tax receivables, other current financial assets
Total current liabilities	9,349	9,101	and other current non-financial assets. 2 Miscellaneous other current liabilities include income tax payables, other current financial liabilities
Total equity & liabilities	24,809	21,043	and other current non-financial liabilities.

Disclaimer

This document and its related communication ("Presentation") have been issued by windeln.de SE and its subsidiaries ( "Company") and do not constitute or form part of and should not be construed as any offer or invitation to sell or issue, or any solicitation of any offer to purchase or subscribe for, any securities of the Company in the U.S.A. or in any other country, nor shall any part of it nor the fact of its distribution form part of or be relied on in connection with any contract or investment decision relating thereto, nor does it constitute a recommendation regarding the securities of the Company. Nothing in this Presentation constitutes tax, legal or accounting advice; investors and prospective investors should seek such advice from their own advisors. Third parties whose data is cited herein are neither registered broker-dealers nor financial advisors and the use of any market research data does not constitute financial advice or recommendations. Securities may not be offered or sold in the U.S.A. absent registration or an exemption from registration under the U.S. Securities Act of 1933, as amended; neither this Presentation nor any copy of it may be taken or transmitted or distributed, directly or indirectly, to the U.S.A., its territories or possessions or to any US person. This Presentation has been carefully prepared. However, no reliance may be placed for any purposes whatsoever on the information contained herein or

on its completeness. No representation or warranty, express or implied, is given by or on behalf of the Company or its directors, officers or employees or any other person as to the accuracy or completeness of the information or opinions contained in this Presentation and no liability whatsoever is accepted by the Company or its directors, officers or employees nor any other person for any loss howsoever arising, directly or indirectly, from any use of such information or opinions or otherwise arising in connection therewith. This Presentation is subject to amendment, revision and updating. Certain statements and opinions in this Presentation are forward-looking, which reflect the Company's or its management's expectations about future events. Forward-looking statements involve many risks, uncertainties and assumptions that could cause actual results or events to differ materially from those expressed or implied herein or could adversely affect the outcome and financial effects of the plans and events described herein and may include (without limitation): macroeconomic conditions; behavior of suppliers, competitors and other market participants; inadequate performance with regard to integration of acquired businesses, anticipated cost savings and productivity gains, management of fulfillment centers, hazardous material/ conditions in private label production or within the supply chain, data security or market knowledge; external fraud; actions of government regulators or administrators; strike; or other factors described in the "risk" section of the Company's annual report. Forward-looking statements regarding past trends or activities should not be taken as a representation that such trends or activities will continue. The Company does not undertake any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. You should not place undue reliance on forwardlooking statements. This Presentation may include supplemental financial measures that are or may be non-GAAP financial measures. These supplemental financial measures should not be viewed in isolation or as alternatives to measures of the Company's net assets and financial positions or results of operations as presented in accordance with IFRS in its consolidated financial statements. Other companies that report or describe similarly titled financial measures

may calculate them differently.

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