DGAP-News: home24 SE / Key word(s): Change in Forecast/Development of Sales
home24 SE adjusts revenue estimate for Q4 2018 and FY 2018
Berlin, 15 January 2019 - home24 SE ("home24", "the Company") today adjusted its revenue estimate for Q4 2018 and the full year 2018 on the basis of information now available. Whereas the order intake in Q4 2018 was within expectations, less revenue than expected was realized until the end of the year 2018.
home24 achieved the most successful week in the Company's history around the shopping event "Black Friday". The strongly increased order volume led to a continued positive growth trend in Q4 2018. However, not all orders could be delivered in December which means that part of the revenue planned for December 2018 will be realized in Q1 2019.
Before this background, home24 now expects 18-22% currency-adjusted revenue growth in Q4 2018 and total annual revenue of EUR 312-315 million which results in an expected currency-adjusted total annual revenue growth of 18-19% in 2018. Previously, the Company had expected 25-31% currency-adjusted revenue growth for Q4 2018. This would have led to total annual revenue of between EUR 315 and 323 million and thus to currency-adjusted growth of more than 20% for FY 2018. Exact figures will be published by home24 in the Trading Update FY 2018 on 13 February 2019.
The medium-term growth and earnings forecast remains unchanged. The Company confirms its forecast that revenue growth in the year 2019 will be at or above the levels of the year 2018 and that home24 SE will reach break-even on the basis of adjusted EBITDA by the end of the year 2019.
This publication contains forward-looking statements. These statements are based on the current views, expectations, assumptions and information of the Company's management. Forward-looking statements contain no guarantee for the occurrence of future results and developments and are associated with known and unknown risks and uncertainties. Due to various factors, actual future results, developments and events may differ materially from those described in these statements; neither the Company nor any other person accepts any responsibility whatsoever for the accuracy of the opinions or underlying assumptions contained in this publication. The Company assumes no obligation to update the forward-looking statements contained in this publication.
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|End of News||DGAP News Service|