DGAP-News: home24 SE
/ Key word(s): IPO/Miscellaneous
home24 confirms strong November trading, moves up into the German SDAX index and prepares for a potential IPO of its Brazilian business
Berlin, 4 December 2020 - home24 SE ("home24", the "Company") confirms a strong November trading and profitability in line with the recently upgraded guidance for FY 2020 (home24 upgraded its guidance for FY 2020 recently to currency-adjusted revenue growth in the range of 38% to 42% and adjusted EBITDA margin in a range of 2% to 4%). The November momentum was driven by a successful "Best Month" shopping period, home24's interpretation of Black Friday in Europe. With consumers preparing for the festive season, this year's top five selling items were all dining chairs.
home24's consistent strong share price performance paired with a resulting increased free float market capitalization and liquidity over the last quarters was recognized by Deutsche Börse. As of 21st of December 2020, home24 will be listed in the SDAX index by Deutsche Börse.
"home24 is stepping up the pace to explore the enormous growth opportunity of home & living e-commerce, while proving the structural profitability of our business model. We are grateful that our efforts are starting to pay off and have led to the inclusion to the German SDAX index. This is a testimony of the great work of the entire home24 team and our partners", says Marc Appelhoff, CEO of home24.
The Company continues to pursue options to strengthen the balance sheet to further exploit the vast home & living opportunity, even more than before the COVID-19 pandemic. This also includes potential capital market options in Brazil for its subsidiary company, Mobly S.A. home24 operates on the Brazilian market under the Mobly brand through its subsidiary Mobly S.A. To prepare a potential listing in the future, a first version of the prospectus is being filed today. Based on local capital market regulations, February 2021 would be the earliest window for a potential IPO. The use of funds of the potential Brazilian IPO would primarily be to accelerate the growth strategy in Latin America independently of the financing by home24.
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.
04.12.2020 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
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|Phone:||+49 30 - 609880019|
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|Listed:||Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Munich, Stuttgart, Tradegate Exchange|
|EQS News ID:||1152928|
|End of News||DGAP News Service|