• Sales grew by 76% in fiscal year 2015
• Number of customers doubled to almost 1 million
• Expansion into further European markets implemented as planned
• Adjusted EBIT margin of -8.5 percent within expectations

Munich, March 17, 2016. windeln.de AG, the leading online retailer of baby and toddler products in Europe, accelerated its growth rate in the fourth quarter and increased sales by 76% to EUR 178.6 million for the full year 2015.

The good development is mainly based on a much higher number of active customers. At the end of 2015, this was around 955 thousand – also due to the inclusion of the acquired online shops feedo and bebitus. The average order value per customer was also increased year-on-year to 90 euros. In the final quarter, windeln.de also benefited from positive effects from the introduction of direct shipping to China, which is now used by more than 80 percent of Chinese customers.

Business in Europe outside the DACH region was significantly expanded by the acquisitions of feedo and bebitus and the launch of the Italian online shop pannolini.it and already accounted for 17 percent of total sales in the fourth quarter; On the basis of the fourth quarter, the annualized revenue contribution already amounts to EUR 40.2 million. The Deutsche Shop, which also handles business in China, achieved a sales volume of 140.3 million euros (+58 percent). The International Shops segment, which windeln.ch, feedo, bebitus and pannolini.it are combined, generated sales of EUR 20.7 million. The shopping clubs (nakiki.de and nakiki.it) doubled their turnover to 17.6 million euros.

"By expanding into Eastern and Southern Europe, we have diversified our sales structure and created a good basis for further scaling our business model," says Alexander Brand, co-founder and board member of windeln.de. "We will build on this in the current year and significantly expand our business outside Germany."

Adjusted EBIT margin at previous year's level

At -8.5 percent (previous year: -8.0 percent), the adjusted EBIT margin was in line with expectations despite the expenses associated with European expansion and currently even lower margins in these markets. At 4.0 percent, the adjusted EBIT margin of the Deutsches Shop improved significantly compared to the previous year (previous year: 2.2 percent). Additional expenses arose in the 2015 financial year in connection with the IPO and the relocation of Nakiki's warehouse, so that selling and administrative expenses as a percentage of sales in the Group as a whole were slightly above the previous year's level. In addition, windeln.de has invested more in marketing.

Gross profit from sales increased to 47.1 million euros. This corresponds to a gross margin of 26.4 percent (2014: EUR 23.5 million or 23.1 percent). The increase in the margin resulted primarily from better purchasing conditions, while the introduction of direct delivery to China also had a positive effect. The operating contribution margin rose from EUR 7.1 million to EUR 12.3 million in the same period.

Continued strong growth and margin improvement expected in 2016

For the current year, windeln.de expects an increase in sales of around 50 percent with above-average growth rates in other European countries. The absolute increase in sales would thus be further increased compared to the previous year. The gross margin is expected to improve to at least 28 percent. For the adjusted EBIT margin, windeln.de expects an increase to -8 to -6 percent despite the first-time full-year consolidation of the even weaker International Shops segment.