Corporate News

elumeo SE successfully continues its restructuring in first quarter of 2020 despite COVID-19 crisis

- Higher total segment EBITDA

- Slight increase in gross profit in the segment Sales division Germany

- Web shop posts significant increase in sales

- Forecast for the year as a whole raised slightly

Berlin, 29 May 2020. elumeo SE, the leading electronic retailer of gemstone jewelry in Europe, managed to improve its results in the first quarter of financial year 2020 compared to the previous year, despite the COVID-19 crisis. Although disrupted supply chains from Asia made it much more difficult for products to be supplied in the first quarter, gross profit still increased slightly year-on-year, taking into account the closure of the site in Rome. Segment EBITDA improved from EUR -1.4 million to EUR -1.1 million despite the crisis. "We were hit quite hard by the lockdown in China in February. Unfortunately, this prevented us from improving our earnings at the same pace as we had in the previous quarters. Nevertheless, we are expecting significant improvements in earnings in the following quarters because we reacted quickly to the crisis by implementing extensive measures," said Wolfgang Boyé, Chairman of the Executive Board of elumeo SE. Besides establishing an alternative supply of goods from the USA and Europe, airtime was reduced from 18 to 12 hours. In addition, short-time working was ordered for the entire elumeo Group. Thanks to the product supply, which has now stabilised again, and the cost-saving measures already implemented, the company was already able to break even again by mid-April. The main driver of the positive development in the first quarter was the web shop, whose sales increased by 87% compared to the previous year.

Against this backdrop, elumeo is providing a more precise outlook for the year as a whole and slightly raising the forecast from its 2019 Annual Financial Statements. Based on the positive development at the beginning of the second quarter of 2020, elumeo expects revenue to rise in the low single-digit percentage range compared to the previous year. At the same time, the company expects gross profit to increase in the low double-digit percentage range. In terms of operating costs, elumeo expects a reduction compared to the first quarter of 2020, which represents only a moderate year-on-year increase. Overall, elumeo expects to see a slight improvement in earnings compared to the previous year (total segment EBITDA 2019: EUR -2.1 million). The forecast compared to the previous year is based on the segments Sales division Germany and Other as well as Group Functions & Eliminations, excluding the site in Rome that was closed.

 

About elumeo SE:

The elumeo Group, headquartered in Berlin, is the leading European company in the area of electronic distribution of high-quality gemstone jewelry that is produced mainly in India and Thailand. Through a variety of electronic distribution channels (such as TV, the Internet, Smart TV and a Smartphone app), the listed company offers its customers primarily coloured gemstone jewelry at comparatively low prices. elumeo sells its jewelry predominantly through direct sales. For example, the elumeo Group operates home shopping television stations in Germany and Italy as well as web shops in Germany, the UK, Italy, France, the Netherlands, Spain, Belgium and the US.

Contact:

elumeo SE

Gregor Faßbender Menzel

Erkelenzdamm 59/61, 10999 Berlin

Phone: -231

Fax: -650

e-mail: