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home24 SE adjusts sales estimate for Q2 2018 and confirms medium-term forecast

2018-07-19 08:10:32

home24 SE / Key word(s): Development of Sales/Change in Forecast
home24 SE adjusts sales estimate for Q2 2018 and confirms medium-term forecast

19-Jul-2018 / 08:10 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.


home24 SE adjusts sales estimate for Q2 2018 and confirms medium-term forecast

Berlin - home24 SE today adjusted its sales estimate for the second quarter of 2018 on the basis of information now available. The unusual warm weather from April to June 2018 in Continental Europe and particularly in Germany led to a noticeably lower demand in the market for large furniture, home24 SE's core business. At the same time, the processing of open orders in Q2 2018 was below the level of the previous year.

Resulting from the combination of these effects, home24 SE now expects in the second quarter 2018 an increase in sales of ca. 6-8% adjusted for foreign currency effects compared to the previous year. Exact figures will be provided when the final quarterly financial information is published on 12 September 2018.

At the same time, the company confirms its medium-term growth and earnings forecast communicated in the course of the IPO process. It is still planned that home24 SE will reach break-even on the basis of adjusted EBITDA by the end of the year 2019. Despite the existing challenges, the targeted growth of around 30% on a currency-adjusted basis remains achievable for the full year 2018.


Information and Explanation of the Issuer to this News:

Contact:
Philipp Steinhäuser, ir@home24.de

Legal Disclaimer
This release contains forward-looking statements. These statements are based on the current views, expectations, assumptions and information of the management of the Company. Forward-looking statements should not be construed as a promise of future results and developments and involve known and unknown risks and uncertainties. Various factors could cause actual future results, performance or events to differ materially from those described in these statements, and neither the Company nor any other person accepts any responsibility for the accuracy of the opinions expressed in this release or the underlying assumptions. The Company does not assume any obligations to update any forward-looking statements.


19-Jul-2018 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
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