• Measures initiated to (i) reorganize operations and reduce headquarter costs in Germany, and (ii) focus international operations on regions with short- to mid-term profitability potential; break-even target for early 2019
• Capital increase of up to 2.6m shares with exclusion of pre-emptive rights from authorized capital subscribed by existing shareholders, new investor group, all members of the management board including founders and Matthias Peuckert
• Starting date of designated CEO Matthias Peuckert on May 1, 2018, succeeding founders and Co-CEOs Alexander Brand and

Munich, February 6, 2018: windeln.de SE, (WKN WNDL11/ ISIN DE000WNDL110) one of the leading online retailers for baby and toddler products in Europe and for customers in China, went through a thorough assessment of its businesses in context of the upcoming management change and initiated several measures to further increase efficiency and reduce costs. The targeted cost reduction amounts to approx. EUR 10 million based on 2017 financials and to a large extent have immediate impact. One-off direct reorganization costs will amount to approx. EUR 1.5 million, which will be recognized in fiscal

Reorganization and reduction of headquarter costs in Germany

At the German headquarter workforce will be reduced across all back-office functions and certain departments will be reorganized. In addition, the product assortment of currently 52,000 products will be further optimized to increase margins. Meanwhile, the marketing spent in Germany will be lowered. Total other SG&A cost savings of approx. EUR 4 to 5 million compared to 2017 are targeted.

Focusing of international operations

windeln.de focuses its international business on the German speaking region (DACH), Spain, Portugal, France and China to reduce complexity in the group and to increase profitability. In this context, the management decided to:
(i) explore the divestiture of the standalone business “Feedo” which is present in the Czech Republic, Slovakia and Poland. Feedo recorded revenues of EUR 24 million in 2017 (+27% year over year growth) and had 86 FTEs employees as of December 31, 2017;
(ii) close the Italian online shop, the local Italian office and warehouse;
(iii) increase pr

Capital increase of up to 2.6 million shares

In connection with the contemplated efficiency-enhancing measures and the further development of the Company’s business, the management board and supervisory board today resolved to increase the Company's share capital from authorized capital against cash contributions from EUR 28,472,420.00 by a nominal amount of up to EUR 2,628,323.00 (corresponding to approximately 10% of the share capital at the time of authorization) to up to EUR 31,100,743 by issuing up to 2,628,323 new ordinary shares (the "New Shares"). The pre-emptive rights of the Company's existing shareholders have been cancel

Preliminary 4th quarter and fiscal year 2017 results

Preliminary fiscal year financials for 2017 amounted to EUR 211 to 213 million revenues (+8 to +10% growth year over year), adjusted EBIT at EUR (26) to (24) million ((13) to (11)% margin) and yearend liquidity of EUR 29.2 million (EUR 25.7 million net excluding EUR 3.5 million drawn borrowing base facility). Revenues in the fourth quarter were EUR 52 to 53 million and (10) to (8)% lower than in the fourth quarter 2016 due to continued profitability focus in Germany and temporary integration effects at Bebitus. Adjusted EBIT was EUR (7) to (6) million ((13) to (11)% margin) and change in ne