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The Platform Group AG announces outlook for 2024 - record year expected

EQS-News: The Platform Group AG / Key word(s): Forecast
The Platform Group AG announces outlook for 2024 - record year expected

30.01.2024 / 12:30 CET/CEST
The issuer is solely responsible for the content of this announcement.


The Platform Group AG announces outlook for 2024 - record year expected

Düsseldorf, 30 
January 2024. The Platform Group AG (ISIN DE000A200QEFA1, “TPG”), a leading software company for platform solutions, announces its forecast for the financial year 2024.

In light of the successful business performance in 2023 and the positive development in the Group's four segments, the Board of Directors of The Platform Group AG expects the growth trajectory to continue in 2024 and the earnings situation to improve once again.

Consolidated gross merchandise volume (GMV) will increase to between EUR 760 million and EUR 800 million according to the current forecast (2023: pro forma forecast EUR 700 million). Consolidated net sales revenue will grow to between EUR 460 million and EUR 470 million (2023: pro forma forecast of EUR 440 million). Based on the positive earnings situation and the effect of the cost and efficiency program implemented in 2023, the TPG Board of Directors expects a further increase in the operating result. The Board of Directors expects consolidated adjusted EBITDA to increase to between EUR 24 million and EUR 28 million for the full year 2024 (2023: pro forma forecast EUR 20 million).

Business areas that were closed in 2023 or will be closed in 2024 are no longer included in the forecast for 2024.

Dr. Dominik Benner, CEO of TPG AG: “We are expecting a new record year in 2024, both in terms of revenue and earnings. Our strategy of consistently deploying our software solutions in numerous sectors, acquiring attractive platform companies, leveraging value and thus operating profitable platforms on a sustainable basis is paying off.”

Medium-term planning

In the medium term, the Board of Directors of The Platform Group AG expects to achieve a GMV of EUR 1 billion and an adjusted EBITDA margin of between 7% and 10%. In addition, a leverage ratio of between 1.5 and 2.3 is targeted in the medium term. The leverage ratio is defined as the ratio of adjusted EBITDA to net financial debt (excluding lease liabilities).

Note on pro forma calculations

In the 2023 financial year, the Company's earnings position was mainly characterized by the contribution of The Platform Group GmbH & Co. KG to fashionette AG by means of a non-cash capital increase with the exclusion of subscription rights and the subsequent merger into The Platform Group AG with entry in the commercial register on 7 November 2023. For this reason, pro forma figures are provided in which the business activities of the companies since 1 January 2022, comparable to the 2023 financial year, are presented on a consolidated basis for the full year. The presentation of the Company's consolidated pro forma financial information is for illustrative purposes only. In the 2024 financial year, the business figures will be consolidated for the full year for the first time.

The Platform Group AG:

The Platform Group AG is a software company that is active in 19 sectors with its own platform solutions. Its customers include both B2B and B2C customers in sectors such as machinery retail, dental technology, furniture retail, car platforms and luxury fashion. The group has 14 locations across Europe with 750 employees. Over 20 investments and company acquisitions have been made since 2020.

Contact:

Investor Relations
Reinhard Hetkamp, CFO and Head of IR
ir@the-platform-group.com
Schloss Elbroich | Am Falder 4 | 40589 Düsseldorf | Germany
corporate.the-platform-group.com



30.01.2024 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG.
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Language:English
Company:The Platform Group AG
Schloss Elbroich, Am Falder 4
40589 Düsseldorf
Germany
E-mail:ir@the-platform-group.com
Internet:https://the-platform-group.com/
ISIN:DE000A2QEFA1
WKN:A2QEFA
Listed:Regulated Unofficial Market in Berlin, Dusseldorf, Frankfurt (Scale), Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange
EQS News ID:1826205

 
End of NewsEQS News Service

1826205  30.01.2024 CET/CEST

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