Westwing Group SE

WEW

Equity

ISIN DE000A2N4H07 / Valor 43911063

Xetra (2024-09-17)

EUR 7.50+1.08%

Westwing Group SE
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About company

Westwing Group SE, founded by Delia Lachance and Stefan Smalla, is a leader in inspiration-based eCommerce in Home & Living for Home Enthusiasts. The company, established in 2011, has expanded into 11 European countries and is known for its unique approach to online retail. With a strong management team led by CEO Andreas Hoerning and CFO Sebastian Westrich, Westwing has positioned itself as a trusted expert in the fields of e-Commerce and finance. The company's focus on providing inspiration and high-quality products for home enthusiasts sets it apart in the competitive eCommerce market.

Summarized from source with an LLMView SourceSector: Technology

Revenue

Westwing Group SE reported a revenue increase of 4.1% for the second quarter of 2024, reaching EUR 106.0m compared to EUR 101.8m in Q2 2023. The revenue for the first half of 2024 was EUR 214.7m, marking a 4.9% rise from EUR 204.7m in the same period of the previous year.

Contribution Margin

The gross margin for Westwing Group SE improved by 0.4 percentage points to 50.6% in Q2 2024, up from 50.2% in Q2 2023. This improvement was driven by the expansion of the high-margin Westwing Collection. Consequently, the contribution margin increased from 28.8% in Q2 2023 to 30.6% in Q2 2024.

Marketing Expenses

Marketing expenses for Westwing Group SE in Q2 2024 rose to 12.6% of revenue, up from 9.4% in the same period of the previous year. In absolute terms, marketing expenses increased by EUR 3.8m to EUR 13.3m, primarily due to continued investment in brand awareness in Germany.

General and Administrative Expenses

General and administrative expenses for Westwing Group SE slightly decreased as a percentage of revenue to 19.2% in Q2 2024 from 19.5% in Q2 2023. However, in absolute terms, these expenses increased by EUR 0.6m to EUR 20.4m, driven mainly by costs associated with the ongoing technology transformation.

Adjusted EBITDA

Westwing Group SE's Adjusted EBITDA for Q2 2024 was EUR 3.9m, down from EUR 4.4m in Q2 2023, corresponding to an Adjusted EBITDA margin of 3.7% (Q2 2023: 4.4%). For the first half of 2024, Adjusted EBITDA increased to EUR 10.2m from EUR 9.5m in H1 2023, with a margin of 4.7% (H1 2023: 4.6%).

Summarized from source with an LLMView Source

Key figures

-16.7%1Y

-81.0%3Y

188%5Y

Performance

41.1%1Y

51.5%3Y

61.8%5Y

Volatility