Westwing Group Reports Growth Amid Market Decline in Q3 2024

Westwing Group AG has announced growth in Q3 2024 despite a challenging market. Gross Merchandise Volume (GMV) increased by 2%, with revenue rising 3% year-over-year. Revenue in the DACH region grew 9% faster than the market. The focus on premium products increased average spend per order by 16% to EUR 206, despite a 13% drop in order numbers.

Adjusted EBITDA reached EUR 4 million, enhancing the margin to 3.7% from 2.5%. The Westwing Collection expanded its share to 58% of GMV, contributing positively to margins, albeit offset by increased container costs. Westwing's cash flow remained at EUR -6 million, with net cash totaling EUR 63 million by quarter-end.

The company is progressing on its strategic plan, focusing on reducing complexity and enhancing premium brand positioning. A new technology platform has been launched in additional countries, supporting this strategy.

Westwing's CEO, Dr. Andreas Hoerning, highlighted the company's growth as a testament to its strong commercial model, aiming to be Europe's leading home and living destination.