• First time exceeding annual revenues of EUR 200 million (EUR 211.9 million) in 2017 (+8.8% growth year over year); EUR 52.5 million of revenues in 4th quarter 2017
• Improved adj. EBIT of EUR -24.9 million (-11.8% margin) in 2017 compared to EUR -26.7 million (-13.7% margin) in 2016; EUR -6.5 million adj. EBIT in 4th quarter 2017
• Net liquidity of EUR 25.7 million as of December 31, 2017 strengthened by EUR 5.2 million capital increase in February 2018
• Adj. EBIT break-even targeted early 2019 driven by efficiency and profitability measures initiated in Februar

Munich, March 14, 2018: windeln.de SE, one of the leading online retailers for baby and toddler products in Europe and for customers in China, achieved revenues of EUR 211.9 million in 2017, which corresponds to an +8.8% increase over the previous year (2016: EUR 194.8 million) and improved adjusted EBIT of EUR -24.9 million (-11.8% margin) compared to EUR -26.7 million ( 13.7% margin) in the previous year. With recorded revenues of EUR 52.5 million, fourth quarter revenues in 2017 were -8.1% lower than in the previous year, which can be attributed to the continued focus on profitability, t

China and Europe with solid revenue growth; DACH lower due to reduced marketing spent

In 2017 revenues with Chinese customers increased to EUR 105.6 million (+18.2% compared to the previous year) and accounted for approximately 50% of group revenues. Especially the business on the Tmall Global platform developed strongly. With EUR 27.9 million of revenues in the fourth quarter 2017, growth (+1.4%) over the previous year was lower due to the particularly high revenues base in the fourth quarter of the previous year.
Revenues in the DACH region (Germany, Austria and Switzerland) decreased to EUR 44.2 million in 2017 (-18.9% year over year) as a result of profitability f

Improvement in adjusted EBIT margin

In 2017, adjusted EBIT improved to EUR -24.9 million and -11.8% margin compared to EUR -26.7 million (-13.7% margin) in the previous year. Adjustments to EBIT for 2017 of EUR 18.6 million primarily include share-based compensation related to the earn-out agreements for previous acquisitions (EUR 7.7 million) and the impairment of intangible assets (EUR 10.3 million). Expenses for fulfilment and marketing were both reduced. The adjusted fulfilment cost ratio amounted to 14.7% in 2017 compared to 17.4% in 2016, the marketing cost ratio was 5.3% in 2017 after 7.0% in 2016. Operating contributi

Recently initiated efficiency and profitability measures drive break-even target early 2019

The company’s management went through a thorough assessment of the windeln.de businesses in the context of the upcoming CEO change and initiated several measures to further increase efficiency and reduce costs on February 6, 2018. The measures initiated include (i) reorganizing operations and reducing headquarter costs in Germany, and (ii) focusing international operations on regions with short- to mid-term profitability potential.

For 2018, management expects revenue growth at the level of 2017. The Group expects a significant improvement in the operating contribution margin, adj