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Home24 upwardly adjusts 2020 forecast again

04.12.2020 − 

For 2020 as a whole, online furniture retailer Home24 now expects turnover growth - adjusted to account for currency fluctuations - of 38-42%, and an adjusted EBITDA margin of 2-4%. The company has thus raised its forecast again, after already doing so in August. The newly improved outlook is based on business performance in the first nine months and the 62% increase in incoming orders achieved during October.

With turnover growth of 39% to €117.8m in the third quarter, Home24 continued the positive development observed in the first half year. Following a moderate increase of 10% in the first quarter, growth had already accelerated to 40% during the second quarter. As per the end of September, turnover generated was approximately 29.0% higher than in the comparative period of the preceding year, at €339.5m. In the seven European markets of Germany, France, Austria, the Netherlands, Switzerland, Belgium and Italy, turnover increased by 34% to €265.4m. In the LatAm business division, which includes activities of the Mobly brand in Brazil, turnover - at €74.1m - exceeded the preceding year’s level by 14%. Excluding exchange rate effects from the devaluation of the Brazilian real, the increase amounted to 65%.

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