publishes final FY and Q4 2018 financial results; positive adj. EBIT development in Q4 2018

• Revenues EUR 104.8 million in FY 2018 and EUR 26.3 million in Q4 2018; sales uplift from Christmas season and sales events (+18% revenues growth compared to Q3 2018)
• Adj. EBIT EUR -18.5 million (-17.8% margin) in FY 2018 and EUR -2.5 million in Q4 2018 (-9.7% margin); improved quarter over quarter operational contribution margin and lower adj. SG&A costs in Q4 2018
• Successful capital increase to complete restructuring measures in Europe and to increase growth in the Chinese market
• Total cash available EUR 11.1 million as of Dec 31, 2018; additional gross pr

Munich, March 20, 2019: SE (”“, “Company” or “Group”), one of the leading online retailers for family products in Europe and to customers in China, published final financial results for the full year (FY) 2018 and fourth quarter (Q4) after having published its preliminary results on February 7, 2019. The Company achieved revenues of EUR 104.8 million in 2018 (2017: EUR 188.3 million, without Feedo) and adjusted (adj.) EBIT of EUR -18.5 million (-17.8% margin) compared to -21.3 million (-11.3% margin) in 2017. Besides temporarily softer demand in China in the

Revenue growth in China and DACH, stabilizing revenues at Bebitus shops

Revenues of the China business in FY 2018 amounted to EUR 56.7 million (2017: EUR 105.6 million). This decrease is mainly due to three factors in the first nine months: price pressure on products due to oversupply in the first quarter, temporarily stricter custom controls which led to order delays of several weeks, and an upcoming product relaunch of the largest milk powder suppliers in September 2019. The market recovered in Q4, consequently revenues amounted to EUR 15.8 million (Q4 2017: EUR 27.9 million) which is an increase of +33% compared to Q3 2018 driven by strong sales events aroun

Improved contribution margin and further cost reductions lead to an improvement of adj. EBIT in FY 2018; reduced cash burn in Q4 2018

First effects of the efficiency and profitability measures initiated in February 2018 are reflected in the numbers of Q4 2018. Operating contribution margin (difference between gross profit and expenses for adj. marketing and adj. fulfillment costs) amounted to and EUR 3.9 million in FY 2018 (3.8% of revenues) and EUR 2.3 million (8.7% of revenues) in Q4 2018 This corresponds to a significant improvement by EUR 1.9 million compared to Q3 2018 and is only slightly below the level of EUR 2.8 million in the same quarter of the previous year despite lower revenues. This is the result of an incr

Capital increase with subscription rights to finance growth in China and to complete restructuring

The Group has successfully executed the capital increase resolved by the Extraordinary General Meeting on January 9, 2019. The share capital was increased by EUR 6,850,023.00 from EUR 3,113,647.00 to EUR 9,963,670.00 through the issue of a total of 6,850,023 no-par value bearer shares with a nominal value of EUR 1.00 each and dividends entitlement as of January 1, 2018, ("New Shares") against cash contributions. Based on the fixed subscription price of EUR 1.48 per New Share, the Group has raised gross issue proceeds of approx. EUR 10.1 million. With the issue proceeds, intends t

Select key figures for the fourth quarter and full year 2018

Q4 2018Q4 201720182017
Revenues (EUR million) 26.346.2104.8188.3
Rest of Europe4.58.323.938.5
Operating Contribution (EUR million)
in % of revenues 8.7%6.0%3.8%5.8%
Adjusted EBIT (EUR million)-2.5-5.3-18.5-21.3
in % of revenues-9.7%-11.4%-17.8%-11.3%