publishes final financial results for full year and fourth quarter of 2020

Munich, March 25, 2021: SE ("", "Group" or "Company"; ISIN DE000WNDL201 and DE000WNDL128) today reported financial results for the full year (FY) and the fourth quarter (Q4) 2020. For the full year 2020, revenues increased by 8.4% to EUR 76.0 million (FY 2019: EUR 70.1 million). Adjusted (adj.) EBIT improved to EUR -8.6 million in 2020 (-11.3% as a percentage of revenues) compared to -10.3 million EUR for the full year 2019 (-14.7% as a percentage of revenues). In the fourth quarter of 2020, the Company achieved revenues of EUR 17.3 million, which corresponds to a decre

China, DACH and Bebitus revenues increased in 2020 compared to previous year; however, China fourth quarter revenues below target

Revenues for the full year 2020 in China amounted to EUR 56.0 million compared to EUR 51.3 million in FY 2019, which corresponds to an increase of +9.1%. China accounts for 74% of total revenues (FY 2019: 73%). In the 4th quarter of 2020, revenues of EUR 12.4 million were achieved in China, a decrease of -20.0% compared to the previous year (4th quarter of 2019: EUR 15.6 million). This development is mainly due to insufficient product availability in the fourth quarter which means that customer demand could not be fully met. The market in China has changed structurally and the platform busi

Improved adjusted EBIT for the Company in the Full Year 2020 compared to 2019

On a full-year basis, the gross profit margin fell to 21.3% in FY 2020 from 25.6% in FY 2019 due to a higher share of revenues from business customers. The gross profit margin in the 4th quarter of 2020 was 17.4% (28.1% in the 4th quarter of 2019) as a result of numerous promotion events such as 11.11., 12.12. and the Black Week in China. Marketing costs amounted to EUR 2.6 million in FY 2020 (FY 2019 EUR 2.8 million) and EUR 0.9 million in Q4 2020 (5.4% of revenues) compared to EUR 0.7 million in the same quarter of the previous year (3.3% of revenues). Fulfillment costs fell to EUR 5.8 mi

Cash inflow in Q4 2020 of EUR 3.1 million after capital increase; successful completion of further 10% capital increase in March 2021 with gross issue proceeds of EUR 1.4 million

In the 4th quarter of 2020, the inflow of funds amounted to EUR 3.1 million (including Bebitus), which is the result of the successful capital increase in October 2020. As of December 31, 2020, The Group’s total cash available was EUR 8.5 million. The net working capital including Bebitus amounted to EUR 2.2 million as of December 31, 2020 and thus decreased significantly compared to EUR 6.2 million on September 30, 2020 due to the sale of goods after promotion campaigns in Q4 2020, especially in China. The cash outflow from operating activities was significantly improved in FY 2020 (FY 2

Positive outlook for 2021 with very strong revenue growth and improved profitability

The Company expects very strong sales growth and a very significant improvement in the operating contribution margin for the financial year 2021. Adjusted EBIT as a percentage of revenues should also improve strongly in 2021. The Group plans to reduce the cash outflow from operating activities to a mid-single-digit million range in the 2021 financial year.

Matthias Peuckert, CEO of, comments: “We were able to increase revenues in 2020 by 8% compared to the previous year. However, the increase was less pronounced than targeted, as the end customer business in China fell

Changes in the Management Board of

After six years with the Company Dr. Nikolaus Weinberger, member of the Management Board and CFO of SE, will leave the Company on March 31, 2021 at his own request and by mutual agreement in order to take on new professional challenges. The duties of Dr. Weinberger will be taken over by Matthias Peuckert, Chairman of the Management Board, in addition to his existing duties. Mr. Peuckert's contract was extended for a further three years until April 30, 2024.

Clemens Jakopitsch, Chairman of the Supervisory Board of SE: “Since starting at in 2015, Dr.