• Revenues grow by 46% year over year in the first quarter;? number of active customers increases to more than one Million
• Adjusted EBIT margin of -­14.8% influenced by lower growth rates in China and one-­time effects
• Slower growth after regulatory changes in China weighs on full-­year Outlook

Munich, Germany, May 24, 2016. windeln.de AG, Europe’s leading online retailer for baby, toddler and children’s products, achieved EUR 52.1 million in revenues compared to the same quarter of 2015, a 46% increase. Strong growth in Europe, particularly

Adjusted EBIT margin below prior year as expected

Gross profit improved to EUR 14.9 million (prior year: EUR 9.1 million) resulting in a gross margin of 28.6% (prior year: 25.6%) showing the continuous increase in gross margin. As expected, the adjusted EBIT margin of -­14.8% was lower than in the previous year (prior year: -­3.6%). This was mainly due to lower growth for the Chinese business in the first quarter (+11% compared to prior year), the consolidation of feedo, bebitus and pannolini.it which were not yet consolidated in the previous year, internal and external costs in connection with introducing the new ERP system and costs re

New import regulation results in consumer reluctance in China

Despite good growth in the first quarter, windeln.de has adjusted the outlook for the full year 2016 as communicated in the ad-­hoc announcement on May 18, 2016. windeln.de is forecasted year over year revenues growth of around 30% for the full year 2016 and an adjusted EBIT margin of between -­10% and -­12%. The gross profit margin is expected to be at least 28%.

The adjustment of the forecast is primarily based on the lower expected revenues for China following changes made to the import regulations and customs duties for goods deliveries to China. These changes were made by the