Elumeo SE Maintains Stability in Challenging Q3/2024 Market

elumeo SE, a prominent European electronic retailer of gemstone jewelry, reported near-stable sales of EUR 33.0 million for the first nine months of 2024, compared to EUR 33.3 million in 2023. Despite challenging conditions, including increased consumer spending reluctance and higher commodity prices, adjusted EBITDA remained positive at EUR 0.44 million, though down 28% from the previous year.

Consumer confidence weakened significantly, as reflected by a notable drop in Germany's consumer confidence index in September 2024. Consequently, elumeo's gross profit margin decreased to 48.3% from 51.5%, as raw material prices surged. However, the company implemented effective cost management, achieving substantial cost savings and boosting web sales by 4%.

elumeo's "#Juwelo100" program and new multi-language platform have facilitated international growth exceeding expectations. Additionally, the transition to the Saleor platform for Jooli has enhanced user engagement and efficiency.