windeln.de announces preliminary figures for fiscal year 2021

• Revenues of EUR 52.1 million (FY 2020: EUR 76.1 million) and adjusted EBIT of EUR -9.4 million (FY 2020: EUR -8.6 million)
• Adjusted EBIT break-even at group level forecast for 2023
• Publication of annual report on April 29, 2022
• Implementation of ordinary capital increase with subscription rights resolved

Munich, March 28, 2022

windeln.de SE ("windeln.de", "Group" or "Company"; ISIN DE000WNDL300 and DE000WNDL318) announces on the basis of preliminary, unaudited figures that consolidated revenues for continuing operations decreased from EUR 76.1 million in 2020 to EUR 52.1 million in 2021. This corresponds to a year-on-year decline in sales of -32%, mainly due to ongoing one-off effects. According to preliminary figures, adjusted EBIT decreased to EUR -9.4 million in 2021 (-18.1% as a percentage of sales) compared to EUR -8.6 million in the full year 2020 (-11.3% as a percentage of sales). Net working capital devel

Based on preliminary unaudited financial figures, revenue in China decreased by EUR 18.2 million or 32% to EUR 37.9 million (2020: EUR 56.0 million). The decline in revenue is due in particular to the lack of availability of certain products as a result of one-time special effects. For example, the relocation of the Group's main warehouse between March and May 2021 resulted in a restriction of direct deliveries to China. In the second and third quarters, there were again supply shortages due to liquidity-saving measures and an associated reduction in inventory levels in Chinese warehouses u

In the Europe segment, revenue from continuing operations decreased by EUR 5.8 million or 29% to EUR 14.2 million (2020: EUR 20.0 million) according to the preliminary, unaudited business figures. The development in Europe is also attributable to the relocation of the Group's main warehouse and the resulting delivery difficulties. In addition, the positive effects on order intake and sales caused by the pandemic in 2020 failed to materialize in the past reporting year. At the end of the fourth quarter of 2021, the loss-making Southern European Bebitus business was discontinued after a sale

Matthias Peuckert, CEO and Chairman of the Management Board, states: "Overall, we are not satisfied with the business results achieved in an extremely challenging fiscal year 2021, and we fell short of our expectations. On a positive note, we were able to make further progress with the measures introduced to sustainably reduce costs and increase sales, even if these are not yet directly reflected in the results for the past reporting year. We were able to implement important liquidity-saving measures in the logistics area through the relocation of the main warehouse and achieve significant

For the current fiscal year 2022, the Management Board expects very strong revenue growth and a significant improvement in operating contribution margin as a % of revenues. The Group is targeting improved adjusted EBIT as a % of revenues in 2022. In view of the disruptions to global supply chains and geopolitical tensions, there is currently a great deal of uncertainty both for the economy as a whole and for the business activities of windeln.de SE itself. Based on the current state of affairs, the Management Board expects that the break-even point on the basis of adjusted EBIT will be reac