Germany · Delayed Price · Currency is EUR Westwing Group SE Earnings Call Transcripts
Fiscal Year 2025
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Adjusted EBITDA surged 84% to €44M with strong cash flow and margin gains, despite only modest revenue growth. 2026 guidance anticipates 5–10% revenue growth and continued profitability, but warns of margin pressure from macro headwinds and expansion investments.
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Q3 2025 saw 5.4% GMV and 3.4% revenue growth, with adjusted EBITDA up 73% and a strong net cash position. Expansion into 10 new countries and seven new stores drove brand presence, while profitability and cash flow improved. Guidance for 2025 is confirmed at the upper end.
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Q2 2025 saw a 61% rise in adjusted EBITDA to €6M and a positive net result, despite a 3.6% GMV decline. Expansion into eight new countries and store openings supported growth, with guidance reaffirmed for positive free cash flow and a return to growth in 2026.
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Q1 2025 delivered a 3-point adjusted EBITDA margin improvement to 8.5% despite a 1% revenue decline, with profitability gains driven by a higher share of Westwing Collection and operational efficiencies. Expansion into new markets and stores continues, while guidance for 2025 is reaffirmed.
Fiscal Year 2024
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Revenue grew 4% year-over-year to EUR 444 million, with adjusted EBITDA at EUR 24 million and free cash flow of EUR 9 million. 2025 guidance anticipates flat to slightly negative revenue but improved profitability, with expansion and premiumization as key levers.
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Revenue and GMV grew 3% and 2% year-over-year in Q3 2024, with strong outperformance in a declining market. Adjusted EBITDA margin improved to 3.7%, and the Westwing Collection share hit a record 58% of GMV. Full-year guidance is confirmed despite ongoing market headwinds.
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Q2 2024 saw 5% GMV and 4% revenue growth, with improved margins and a strong net cash position of EUR 72 million. Guidance for 2024 is confirmed, but H2 is expected to face headwinds from economic conditions and strategic premiumization.