Press release
Windeln.de SE improves financial position through strategic measures in challenging market environment
windeln.de SE ("windeln.de", "Group" or "Company"; ISIN DE000WNDL201) reports a decline in revenues and earnings in the first nine months of fiscal year 2021 due to a number of special factors. Sales revenues reached EUR 44.1 million in this period. Compared to the same period of the previous year, in which sales of EUR 68.4 million were generated, this corresponds to a decline of EUR 24.3 million and 36%. This downward trend is attributable to both the China segment and the Europe segment.
Q2/21 HY1/21 Press Release Deutsch
bereinigte EBIT-Marge) in H1 2020
Q2/21 HY1/21 Press Release English
adjusted EBIT margin) in H1 2020
windeln.de launches flagship store on online platform BabyTree
Munich, May 12 2021: windeln.de SE ("windeln.de", "Group" or "Company"; ISIN DE000WNDL201and DE000WNDL128) is further expanding its offering for customers in China and will open its own flagship store on the BabyTree online platform at the end of May. With high average monthly active users (MAUs) of around 91.2 million users in 2020, BabyTree is one of the largest and most active online platforms in the Maternity and Child (M&C) focused online community in China. Its users mainly include young families, which means there is a high overlap with the customer base of windeln.de.
The opening of the flagship store on BabyTree is a synergetic strategy that enables windeln.de to reach out to millions of end customers. Entering the BabyTree platform allows the company to benefit from the growth of the Chinese platform and achieve revenue scaling.
As one of the partners, windeln.de is thus positioning itself in a relevant market environment with increased brand visibility. According to a report by market research institute AC Nielsen in August 2020, BabyTree Parenting ranked top among mainstream M&C and parenting apps in terms of brand awareness, ease of use, popularity as well as recommendation rate among interviewees. In the current fiscal year, BabyTree plans to continue to focus on building and strengthening its e-commerce platform.
Matthias Peuckert, CEO of windeln.de comments: "The cooperation with BabyTree is a perfect match for us on all levels! With the help of the online platform, we can reach millions of end customers in China and benefit from the platform's growth. In addition, we see BabyTree as a committed partner with whom we want to jointly build the trust of our customers in the future."
windeln.de publishes final financial results for full year and fourth quarter of 2020
Munich, March 25, 2021: windeln.de SE ("windeln.de", "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 decrease of -14.8% compared to the 4th quarter of the previous year (EUR 20.3 million) for its continued operations (i.e. excluding the Bebitus business which is reported as “discontinued operation”). Adjusted EBIT amounted to EUR -3.1 million in the 4th quarter of 2020 compared to EUR -1.0 million in the 4th quarter of 2019.
Change of the publication date for the 2020 annual financial statements by one week due to delays caused by the new ESEF directive
Munich, March 15, 2021: windeln.de SE ("windeln.de"; ISIN DE000WNDL201 and DE000WNDL128) announces that the publication date for the 2020 annual financial statements will be changed by one week to March 25, 2021, since the requirements according to ESEF (European Single Electronic Format) are not fulfilled by an external service provider as planned. The new ESEF guidelines apply to business years from 01.01.2020 and require so-called "iXBRL tagging", which makes published financial information machine readable and therefore easier to process. The software required for this is provided to windeln.de by an external service provider and exhibits unforeseen errors. The elimination of these errors takes more time and results in the change of the publication date. windeln.de regrets the delay and thanks all stakeholders for their understanding.
windeln.de SE successfully completes 10% capital increase – full placement with gross issue proceeds of EUR 1,4 million
Munich, March 12, 2021: windeln.de SE ("windeln.de" or "Company"; ISIN DE000WNDL201 and DE000WNDL128) has successfully completed the placement of the new shares from the capital increase, which was resolved by the Management Board with the approval of the Supervisory Board on March 05, 2021. The capital increase was accompanied by Quirin Privatbank AG. Through the placement of all 1,098,207 new no-par value bearer shares with a pro-rata amount in the share capital of EUR 1.00 each, and dividend entitlement as from January 1, 2020 (“New Shares”), gross issue proceeds of EUR 1,427,669.10 were generated based on the placement price of EUR 1.30 per New Share. As a result of this capital increase, the Company's share capital was increased to EUR 12,080,280.00. The high demand for the New Shares offered in the private placement reflects the confidence that investors have in the long-term development of the Company and in windeln.de's business model.
The New Shares with ISIN DE000WNDL128 / WKN WNDL12 are expected to be delivered to the investors with a value date as from March 24, 2021 as shares not admitted to trading on the stock market. These are to be included in the open market of the Stuttgart Stock Exchange and are expected to be admitted to trading on the Regulated Market (Prime Standard) of the Frankfurt Stock Exchange in the second quarter of 2021 on the basis of a securities prospectus yet to be published, which is currently being prepared in the context of the admission of the new shares created from the capital increase of October 2020.
The proceeds from the issue will be used to further strengthen the capital base of the Company. In addition, measures to reduce costs, and the establishment of further sales channels and net working capital required for growth in China, will be financed.
windeln.de launches WeChat Mini Program in China
Munich, February 12, 2021: windeln.de SE ("windeln.de", "Group" or "Company"; ISIN DE000WNDL201 and DE000WNDL128) has launched its own WeChat mini program (accessible directly via WeChat) and the corresponding affiliate program, thereby further expanded its offering to customers in China. WeChat mini program is a shopping platform by the popular messenger app WeChat that is used by over 900 million people in China.
WeChat mini program has been growing tremendously in the past years. Since the mini program is directly linked to the messenger app WeChat (app within app), users can easily share interesting products they find on WeChat mini program with their friends and family. WeChat Mini Program also offers several attractive marketing tools like live chats with customers or special promotion offers that can be shared with friends. This saves huge customer acquisition and marketing expenses for companies offering their products on WeChat mini program, representing the enormous potential this sales platform has.
This new sales channel is served through the existing efficient logistics network that windeln.de built over the years. windeln.de primarily sells high quality German baby nutrition, drugstore items and toys via the WeChat mini program. Since the launch in January 2021, the mini program was well accepted by windeln.de WeChat group users and is developing very favorably so far.
Matthias Peuckert, CEO of windeln.de: "We are proud to see that the hard work of our teams in the past year is paying off. With the launch of the WeChat mini program, we were able to launch yet another sales channel in China. This will help us to diversify our Business in China further, make it stronger and build our success on several pillars in this very attractive but everchanging market."
windeln.de announces preliminary financials for 2020 with 8.6% revenues growth and modest adj. EBIT improvement year over year; adj. EBIT break-even target updated to full year 2022; further cost measures to be executed
• Preliminary revenues of EUR 76.1 million for continued operations in 2020 which equals +8.6% growth year over year (slightly below double-digit revenue growth target)
• 2020 target of modest adj. EBIT improvement year over year reached based on preliminary financials
• Adj. EBIT break-even target early 2021 cannot not be reached as growth in China takes longer; adj. EBIT break-even targeted for full year 2022
• Further cost-efficiency measures to be implemented in 2021
• Cash and cash equivalents EUR 8.5 million as of December 31, 2020
Munich, February 01, 2021: Based on preliminary financials for 2020 windeln.de SE (“windeln.de”, “Group” or “Company”; ISIN DE000WNDL201 and DE000WNDL128) revenues for continued operations for 2020 grew from EUR 70.1 million in 2019 to EUR 76.1 million in 2020. This equals +8.6% revenues growth year over year and is therefore lower than the targeted double-digit growth. Based on preliminary financials, the Company’s revenues in China grew from EUR 51.3 million in 2019 to EUR 56.0 million in 2020 (+9.2% growth year over year). Growth has been lower than targeted given that market conditions in China - also in the 4th quarter 2020 - were less favorable than expected and building up new distribution channels takes more time. In addition, the process for duty-paid deliveries from Germany to China had to be redesigned and rolled out in December 2020, after it was inactive for several months due to new regulatory and technical requirements from Chinese customs. Throughout the last year, windeln.de built up a local team in China which is crucial for the further success of our Chinese business as it contributes more than 70% of the Company’s revenues. windeln.de successfully opened a new online shop on the Chinese market platform “JD.com” in December 2020. On January 29, 2021 the Company also announced the appointment of Chris Reitermann as member of the supervisory board who is a very experienced manager/CEO in Chinese E-Commerce. Financial performance in China in January this year has been promising and the Company expects significant revenue growth for the full year 2021.
Based on preliminary financials, Group's adj. EBIT (i.e. EBIT adjusted for non-recurring/extraordinary expenses and income if applicable in the reporting period) has improved modestly in 2020 compared to 2019 which is in line with the announced target communicated earlier.
The Group's cash and cash equivalents were EUR 8.5 million as of December 31, 2020. The Company continues to explore further financing options including further financing in/from China.
As the execution of growth plans in China takes more time, the target of adj. EBIT break-even early 2021 cannot be reached. The Company has ambitious growth plans and now targets to reach adj. EBIT break-even on Group level in the full year 2022. This will be supported by measures that improve the Company’s cost base and that will be completed this year:
(i) Central warehouse move: The Company will move its central warehouse in Germany from Großbeeren to Halle in the first half year of 2021. The warehouse move was originally planned at the beginning of last year but could not be done due to the insolvency of a logistics partner as a result of the outbreak of the Corona pandemic. After a new tender process, Radial GmbH (“Radial”), a 100% subsidiary of the Belgian Post, was chosen as new logistics partner. The contract with Radial was signed in November 2020 and starts in 2021 and has a term of four years. Costs for the warehouse move including costs for the temporary parallel operation for two warehouse locations amount to approx. EUR 600 thousand (one-time). The Company expects total savings of approx. EUR 750 thousand (annually) from the warehouse move.
(ii) IT shop and PIM outsourcing: The Company is in the process of outsourcing its self-developed IT shop platform to Spryker and has completed the outsourcing of its Product Information Management System (PIM) to InRiver to reduce IT expenses, to increase system reliability and to enable changes in a faster and more efficient way. The implementation for windeln.de’s Tmall shop was already successfully finalized August last year. The migration of the German, Swiss and Chinese shops will be completed this year. Estimated costs for the IT shop outsourcing including internal project expenses amount to approx. EUR 800 thousand (one-time) in 2021. Total cost savings related to the shop and PIM outsourcing amount to approx. EUR 500 to 750 thousand (annually) once all channels are migrated.
(iii) Personnel and non-personnel cost savings: The Company has significantly reduced its overall workforce during the last years from more than 400 active employees (full time equivalents, FTEs) beginning of 2018 to less than 200 FTEs end of 2020 despite the significant team build-up in Rumania and China during the same time period. Other (non-personnel) costs have also been reduced, e.g. through the office move in Munich in August 2020 or the reduction in supervisory board compensation in 2020. The Company continues to reduce its personnel and non-personnel costs further in 2021.
Management board members Matthias Peuckert, Sean Wei and Dr. Nikolaus Weinberger comment: „The year 2020 was unique in many aspects and has presented quite some challenges for our Company. We know that we still have to provide the proof of bringing this company to profitability. We are convinced though to reach that goal and benefit from long-term and sustainable revenue growth going forward.”
Change in the Supervisory Board of windeln.de SE
Munich, January 29, 2021: windeln.de SE (“windeln.de”, “Group” or “Company”; ISIN DE000WNDL201 and DE000WNDL128) today announces, that Tomasz Czechowicz has decided to step down as member of the Supervisory Board and Christian (Chris) Reitermann has been appointed by the District Court of Munich to the Company’s Supervisory Board as replacement.
Tomasz Czechowicz is CEO and Managing Partner of the MCI Capital S.A. and Private Equity Managers S.A.. Mr. Czechowicz has been a member of the Supervisory Board since June 2017 and a member of the advisory board of windeln.de before the IPO of the Company. Through close and trustful collaboration with the Management and Supervisory Board, Tomasz Czechowicz has provided outstanding support for the Company in the past years.
Chris Reitermann is Chief Executive Officer of The Ogilvy Group (“Ogilvy”) in Asia & Greater China. He joined Ogilvy in 1996 and since then worked at various locations in Asia for the company. He received a degree in East Asian Business Management from the University of Applied Sciences in Ludwigshafen/Germany in 1996. With his valuable experience and extensive expertise in e-commerce in China, he will be a strong complement to our current Supervisory Board and of great help for the future business development of windeln.de in China, as more than 70% of the Company’s revenues are generated in that region.
The Supervisory Board and Management Board would like to express its appreciation to Tomasz Czechowicz for his longstanding and valuable support and welcomes Chris Reitermann to the Supervisory Board. The appointment of Chris Reitermann is also welcomed by large shareholders of the Company.
windeln.de publishes financial results for the third quarter and nine months 2020; European business further improved, China business below targets in Q3 but with stronger fourth quarter ahead
Munich, November 12, 2020: windeln.de SE (“windeln.de”, “Group” or “Company”; ISIN DE000WNDL201 and DE000WNDL128) today reported financial results for the third quarter (Q3) and 9 months (9M) of 2020. The Company generated revenues of EUR 15.0 million in Q3 2020 which corresponds to a slight decrease of -2.7% compared to Q3 of the previous year (EUR 15.4 million in Q3 2019) for its continuing operations (i.e. excluding the Bebitus business which is reported as “discontinued operation”). For the first 9 months 2020, revenues increased by 17.9% to EUR 58.8 million compared to the previous year period (9M 2019: EUR 49.8 million). Adjusted (adj.) EBIT improved to EUR -3.0 million in Q3 2020 compared to Q3 2019 with EUR -3.9 million. For the first 9 months 2020, adj. EBIT improved to EUR -5.5 million (-9.3% as percent of revenues) compared to EUR -9.3 million for the first 9 months 2019 (-18.6% as percent of revenues).
Successful completion of the capital increase – gross issue proceeds of EUR 3,386,193.60
Munich, October 21, 2020: windeln.de SE ("windeln.de" or "Company") has successfully completed the placement of the new shares from the capital increase, which was resolved on by the Management Board on September 25, 2020 with the approval of the Supervisory Board. Through the placement of 2,821,828 new no-par value bearer shares with a pro-rata amount in the share capital of EUR 1.00 each and dividend entitlement as from January 1, 2020 (“New Shares”), gross issue proceeds of EUR 3,386,193.60 were generated based on the subscription price of EUR 1.20 per New Share.
During the subscription period, 380,525 new shares were subscribed by the company's existing shareholders via subscription rights with a subscription ratio of 2:1 and via the additional subscription rights voluntarily granted by the Company. 2,441,303 New Shares were placed with selected investors as part of a private placement.
The New Shares with ISIN DE000WNDL128 / WKN WNDL12 are expected to be delivered to the shareholders with a value date as from October 29, 2020 as shares not admitted to trading on the regulated market. They are to be included in the open market of a German stock exchange before they are to be admitted to trading on the regulated market of the Frankfurt Stock Exchange (Prime Standard) within one year of issuance on the basis of a securities prospectus to be prepared.
Quirin Privatbank AG accompanied the capital increase as the issuing bank and offered the publicly offered New Shares to the shareholders in accordance with the subscription offer.
windeln.de confirms data security incident
Munich, 16th September 2020: windeln.de SE („windeln.de“ or „Company“; ISIN DE000WNDL201) has announced today:
Between June 10th and 23rd, 2020 data of some of our customers were temporarily stored on an unprotected server due to a maintenance error, which has since been corrected. The data is now safe again.
Only customers who logged on to our website via the app or a browser between May 24th and June 23rd, 2020 are affected. The server is used as a short-term cache, which automatically deletes the data no later than every four weeks. Therefore, we are currently unfortunately not able to establish which individuals and how many customers are affected in total.
As far as we know today, the server did not store information about means of payment, for instance credit card numbers. However, it contained data such as names, e-mail addresses, postal addresses, telephone numbers and the order history of affected users, as well as, in some cases, the dates of birth and names of their children.
IT security experts who are not part of our company had discovered the security gap. Whether additional unauthorized third parties had access to the data is currently unclear. We have initiated a comprehensive investigation and are working hard to establish the facts with the help of external IT forensic experts.
"We very much regret this incident and apologize to all customers affected. We take the protection of user data very seriously. Now, our focus is on clarifying the details, learning from what has happened, and avoiding damage to our customers as far as possible," said Matthias Peuckert, CEO of windeln.de SE.
The Company had found out about the unprotected server thanks to German authorities and reacted immediately.
windeln.de SE will continue to inform about the progress of its investigation.
windeln.de SE: Bebitus filial del sur de Europa con un fuerte desarrollo financiero en el segundo trimestre de 2020
• Ingresos de 3,8 millones de euros en el segundo trimestre de 2020; +28% de crecimiento en comparación con los 3,0 millones de euros del segundo trimestre del año anterior; +74% de tráfico en junio en comparación con enero a pesar de la menor inversión en Marketing
• Contribución operativa 0,3 millones de euros (7,1% de margen) después de -0,0 millones de euros en el segundo trimestre del año anterior (-0,8% de margen);
• Los costes de SG&A locales disminuyeron; el margen IV (después de los gastos de canal) aumentó de -6,1% de los ingresos en el segundo trimestre de 2019 a un positivo 2,5% en el segundo trimestre de 2020
• EBIT ajustado -0,5 millones de euros en el segundo trimestre de 2020 (margen EBIT ajustado de -12,2%) después de -0,9 millones de euros en el segundo trimestre del año anterior (margen EBIT ajustado de -28,8%)
• Proceso de desinversión en curso
Munich, 14 de agosto de 2020: windeln.de SE ("windeln.de", "Group" o "Company"; ISIN DE000WNDL201) ha presentado hoy los sólidos resultados financieros de su filial Bebitus en España, Portugal y Francia para el segundo trimestre (T2) y el primer semestre (H1) de 2020.
Bebitus generó ingresos de 3,8 millones de euros en el segundo trimestre de 2020, lo que corresponde a un aumento del +28% con respecto al segundo trimestre del año anterior (3,0 millones de euros en el segundo trimestre de 2019) y a los ingresos del primer semestre de 2020, de 6,3 millones de euros (6,5 millones de euros en el primer semestre de 2019). El crecimiento de los ingresos en el segundo trimestre de 2020 se apoyó en una mayor demanda impulsada por Covid-19 y en mejoras operativas como la introducción de la herramienta de precios Omnia en Portugal. Esto también se refleja en el aumento de las visitas en el 2º trimestre de 2020, que han aumentado de manera consistente desde principios de año (+74% en junio en comparación con enero de 2020).
Los continuos esfuerzos por mejorar la rentabilidad se reflejan en el margen de contribución (la diferencia entre el beneficio bruto y los gastos de comercialización y cumplimiento). El margen de beneficio bruto aumentó hasta el 25,3% en el segundo trimestre de 2020 (segundo trimestre de 2019: 21,9%). Paralelamente, los costos de comercialización se redujeron de 7,2% de los ingresos en el segundo trimestre de 2019 a 6,1% en el segundo trimestre de 2020 y los costos de cumplimiento se redujeron de 15,4% en el segundo trimestre de 2019 a 12,1% en el segundo trimestre de 2020. Como resultado, el margen de contribución operativa de Bebitus mejoró a 0,3 millones de euros en el segundo trimestre de 2020 (7,1% de los ingresos), en comparación con los -0,0 (-0,8% de los ingresos) del segundo trimestre del año anterior. Según los informes de gestión interna, también el margen IV de Bebitus, es decir, el margen de contribución después de los gastos del canal, fue positivo con 0,1 millones de euros en el segundo trimestre de 2020, después de los -0,2 millones de euros del año anterior. El margen EBIT adjunto de Bebitus mejoró hasta alcanzar los -0,5 millones de euros (margen de -12,2%) en el segundo trimestre del año en curso, después de los -0,9 millones de euros (margen de -28,8%) en el mismo período del año anterior.
Como se anunció en marzo de este año, windeln.de explora la venta de Bebitus debido al enfoque estratégico en China y la región de habla alemana.
Matthias Peuckert, CEO de windeln.de: "El equipo de Bebitus ha hecho un muy buen trabajo en la mejora de los márgenes en todos los niveles en nuestro negocio del sur de Europa. Covid-19 y el consiguiente paso a Internet y el fuerte aumento de la tasa de penetración en el segmento de bebés y niños pequeños en el sur de Europa, representan el alto potencial de este negocio".
windeln.de SE: Southern European Business Bebitus with strong financial development in second quarter 2020
• Revenues EUR 3.8 million in Q2 2020; +28% growth compared to EUR 3.0 million in Q2 previous year; +74% higher traffic in June compared to January despite lower marketing
• Operating Contribution EUR 0.3m (7.1% margin) after EUR -0.0 million in Q2 pervious year (-0.8% margin);
• Local SG&A costs lowered; margin IV (after channel expenses) increased from -6.1% of revenues in Q2 2019 to positive 2.5% in Q2 2020
• Adj. EBIT EUR -0.5 million in Q2 2020 (-12.2% adj. EBIT margin) after EUR -0.9 million in Q2 previous year (-28.8% adj. EBIT margin)
• Divestiture process ongoing
Munich, August 14, 2020: windeln.de SE (“windeln.de”, “Group” or “Company”; ISIN DE000WNDL201) today reported strong financial results for its subsidiary Bebitus in Spain, Portugal and France for the second quarter (Q2) and first half (H1) of 2020.
Bebitus generated revenues of EUR 3.8 million in Q2 2020 which corresponds to a +28% increase to Q2 of the previous year (EUR 3.0 million in Q2 2019) and H1 2020 revenues EUR 6.3 million (EUR 6.5 million in H1 2019). Revenues growth in Q2 2020 was supported by higher Covid-19 driven demand and operational improvements like the introduction of the pricing tool Omnia in Portugal. This is also reflected in the higher site visits in Q2 2020 which have increased constantly since the beginning of the year (+74% in June compared to January 2020).
Continuous efforts on improving profitability are reflected in the operating contribution margin (the difference between gross profit and expenses for marketing and fulfillment). The gross profit margin increased to 25.3% in Q2 2020 (Q2 2019: 21.9%). In parallel, marketing costs were reduced from 7.2% of revenues in Q2 2019 to 6.1% in Q2 2020 and fulfillment costs were lowered from 15.4% in Q2 2019 to 12.1% in Q2 2020. As a result, the operating contribution margin of Bebitus improved to EUR 0.3 million in Q2 2020 (7.1% of revenues) from EUR -0.0 (-0.8% of revenues) in the second quarter of the previous year. Based on internal management reporting, also margin IV for Bebitus, i.e. contribution margin after channel expenses was positive with EUR 0.1 million in Q2 2020 after EUR -0.2 million in the previous year. The adj. EBIT margin of Bebitus improved to EUR -0.5 million (-12.2% margin) in the second quarter of the current year after EUR -0.9 million (-28.8% margin) in the same period of the previous year.
As announced in March this year, windeln.de explores the sale of the Bebitus due to the strategic focus on China and the German speaking region.
Matthias Peuckert, CEO of windeln.de: “The Bebitus team has done a very good job in improving margins on all levels in our Southern European business. Covid-19 and the resulting move towards online and strong increase of penetration rate in the baby and toddler segment in Southern Europe, represent the high potential of this business.”
windeln.de with strong financial result in the second quarter; focus on executing financing to support growth of China business in the second half of the year
• Revenues (excl. Bebitus) EUR 28.8 million in Q2 2020 (+68% growth compared to EUR 17.2 million in Q2 previous year); H1 2020 revenues EUR 43.7 million (+27% year over year)
• Adj. EBIT (excl. Bebitus) close to break-even EUR -0.0 million in Q2 2020 (-0.2% adj. EBIT margin) after EUR -2.4 million in Q2 previous year (-14.0% margin); H1 2020 adj. EBIT EUR -2.5 million (-5.7% margin) after -EUR 5.4 million (-15.8% margin) in H1 of the previous year
• Positive impact in Q2 from higher Covid-19 driven online sales and sale of hygiene products sourced from China as well as China VAT refund for previous periods
• Total cash available EUR 6.0 million as of June 30, 2020; impacted by continuing build-up of inventory for China business
• Financial target of reaching sustainable adj. EBIT break-even early 2021 dependent on securing financing in H2 given long cash conversion cycle and team build-up of Chinese business
Munich, August 14, 2020: windeln.de SE (“windeln.de”, “Group” or “Company”; ISIN DE000WNDL201) today reported strong financial results for the second quarter (Q2) and first half (H1) of 2020. The Company generated revenues of EUR 28.8 million in Q2 2020 which corresponds to a +68% increase to Q2 of the previous year (EUR 17.2 million in Q2 2019) and H1 revenues EUR 43.7 million (+27% yoy) for its continuing operations (i.e. excluding the Bebitus business which is reported as “discontinued operation”). Adjusted (adj.) EBIT amounted to EUR -0.0 million in Q2 2020 (Q2 2019: EUR -2.4 million) and EUR -2.5 million in H1 2020 (H1 2019: EUR -5.4 million).
From Q2 2020 going forward, the Company reports two Segments: Europe (which effectively includes the business in the German speaking region, DACH) and China. Even though both segments are interdependent this helps the company to increase transparency, better allocate resources and costs and therefore help steering the company towards sustainable profitability.
windeln.de held its first virtual Annual General Meeting
Munich, June 29, 2020: The Annual General Meeting of windeln.de SE (the "Company"; ISIN DE000WNDL201) was held on June 24, 2020. Due to the legal regulations regarding the Covid-19 pandemic, the Company decided to invite to a virtual general meeting.
Overall, about 80% of the Company's share capital was registered for the Company's first virtual general meeting.
The counter motion to agenda item 5 was approved and therefore Mr. Maurice Reimer and Ms. Irene Tang were elected to the Supervisory Board. All other items on the agenda were approved by the majority. The Management Board and the Supervisory Board were discharged with over 99% of the votes cast. The shareholder YOUTH PTE LTD. submitted an objection to agenda item 5 of the Annual General Meeting.
The voting results and the presentation of the Management Board as well as further documents regarding the Annual General Meeting are published under corporate.windeln.de in the "Investor Relations" section.
Clemens Jakopitsch new chairman of the Supervisory Board of windeln.de SE
Munich, June 24, 2020: The Supervisory Board of windeln.de SE (the "Company") today elected Clemens Jakopitsch as the new chairman of the Supervisory Board. He has been a member of the Company’s Supervisory Board since June 2018. He is succeeding Willi Schwerdtle, who, as already announced, has resigned as member and as Chairman of the Supervisory Board with effect from the end of today's Annual General Meeting.
Withdrawal of supplemental request and voting proposals regarding the Annual General Meeting 2020 by YOUTH PTE LTD.
Munich, June 23, 2020: YOUTH PTE LTD. withdrew its Supplemental Request for the Annual General Meeting on June 24, 2020 regarding the revocation of certain supervisory board members, the reduction of the number of supervisory board members from six to four and the election of Ms. Qian Zou as new member of the supervisory board. The withdrawal text is available on the Company's website under https://corporate.windeln.de/ in the section "Investor Relations", "Annual General Meeting".
Statement of the Management Board of windeln.de SE on the agenda supplement of YOUTH PTE LTD. and the counter motion of Clemens Jakopitsch for the Annual General Meeting
Munich, June 22, 2020: The Management Board of windeln.de SE (the “Company”) has issued a statement on the agenda supplement of YOUTH PTE LTD. for the Annual General Meeting on June 24, 2020 and the election proposal pursuant to Section 127 German Stock Corporation Act of Clemens Jakopitsch regarding agenda item 5 of the invitation to the Annual General Meeting. The statement is available on the Company's website under https://corporate.windeln.de/ in the section "Investor Relations", "Annual General Meeting".
Statement of the Supervisory Board on the alternative election proposal pursuant to Section 127 German Stock Corporation Act regarding agenda item 5 of the Annual General Meeting on June 24, 2020
Munich, June 19, 2020: The supervisory board of windeln.de SE (the “Company”) has issued a statement on the alternative election proposal pursuant to Section 127 German Stock Corporation Act regarding agenda item 5 of the Annual General Meeting on June 24, 2020. The statement is available on the Company's website under https://corporate.windeln.de/ in the section "Investor Relations", "Annual General Meeting".
Election proposals of the shareholder Clemens Jakopitsch regarding agenda item 5 of the Annual General Meeting of windeln.de SE on June 24, 2020
Munich, June 10, 2020: On June 9, 2020 windeln.de SE ("windeln.de" or the "Company"; ISIN DE000WNDL201) has received proposals for the election of supervisory board members regarding the Annual General Meeting 2020 to be held on 24 June 2020 from its shareholder Clemens Jakopitsch. The subject matter of these proposals is the envisaged election of two new supervisory board members to be resolved under agenda item 5 of the Annual General Meeting 2020. Mr Jakopitsch proposes to elect Mr Maurice Reimer and Mrs Irene Tang as new members of the Company’s supervisory board instead of the candidates proposed by the supervisory board.
The complete wording of the proposals, including the reasons, are available on the Company's website under https://corporate.windeln.de/ in the section "Investor Relations", "Annual General Meeting".
windeln.de publishes first quarter 2020 and preliminary April 2020 figures
• Q1 2020 revenues EUR 14.9 million (Q1 2019: EUR 17.2 million) and Q1 2020 adjusted EBIT EUR -2.4 million (Q1 2019: EUR -3.0 million)
• Strong April 2020 revenues: preliminary revenues EUR 15.3m due to EUR 7.1 million sale of health products to business customers, higher other sale and China VAT refund
• Total cash available EUR 9.1 million as of April 30, 2020; high build-up of net working capital required for Chinese business
• Financial target to reach adjusted EBIT break-even in Q1 2021 unchanged
Munich, May 28, 2020: windeln.de SE (“windeln.de”, “Group” or “Company”; ISIN DE000WNDL201) published its financial results for the first quarter (Q1) 2020 today. The Group generated revenues of EUR 14.9 million in Q1 2020 (Q1 2019: EUR 17.2 million). Adjusted (adj.) EBIT amounted to EUR -2.4 million in Q1 2020 (Q1 2019: EUR -3.0 million). Given the ongoing divestiture process of Bebitus (online shops in Spain, Portugal and France), the reported numbers of Bebitus are shown as “discontinued operations”. Preliminary revenues for April (excl. Bebitus) were EUR 15.3 milllion.
windeln.de SE: Candidacy of Christian (Chris) Reitermann and Huaidong (Andy) Wang as new members to the Supervisory Board
Munich, May 15 , 2020: The Supervisory Board of windeln.de SE ("windeln.de", "Group" or "Company"; ISIN DE000WNDL201 and ISIN DE000WNDL219) proposes to the Annual General Meeting taking place on 24 June 2020 two Supervisory Board candidates as successors to Willi Schwerdtle and Dr. Edgar Lange, who on 30 April 2020 announced their decision to step down as Chairman of the Supervisory Board and member of the Supervisory Board, respectively, effective as of the end of the next Annual General Meeting.
The Company’s invitation to the Annual General Meeting 2020 to shareholders will include the proposal to elect Chris Reitermann and Andy Wang to the Supervisory Board.
Chris Reitermann is the Chief Executive Officer of The Ogilvy Group (“Ogilvy”) in Asia & Greater China, Global Client Leader at WPP and Worldwide Executive Partner of The Ogilvy Group. He joined Ogilvy in 1996 and since then worked at various locations in Asia for the company. He received a degree in East Asian Business Management from the University of Applied Sciences in Ludwigshafen/Germany in 1996.
Andy Wang is non-executive Director at eBaoTech Corporation in Shanghai/China and founding partner of Innovation Camp in Beijing/China. Before that he has been a Consultant at McKinsey & Co. and co-founder of the company United Sources Trading Co. Ltd. in Beijing/China. Andy received a Master of Business Administration (MBA) from Harvard Business School in Boston/USA in 1997 and a bachelor’s degree from the Foreign Affairs College in China in 1990.
Matthias Peuckert, Xiaowei (Sean) Wei and Dr. Nikolaus Weinberger, members of the Management Board of windeln.de: „In the name of the entire company, we welcome the candidacy of Andy Wang and Chris Reitermann for the Supervisory Board. With their valuable experience and extensive expertise in e-commerce both in China and abroad, they could greatly bring forward our company. We are looking forward to the continued close cooperation with the Supervisory Board. We would like to thank Willi Schwerdtle and Dr. Edgar Lange again for their great work and the trusting collaboration. In the past few years, they have done outstanding work for windeln.de and its stakeholders.”
Upcoming admission of new shares from the capital increase carried out in February 2020 to trading on the regulated market (Prime Standard)
NOT FOR RELEASE OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES OF AMERICA, AUSTRALIA, CANADA OR JAPAN OR ANY OTHER JURISDICTION IN WHICH SUCH RELEASE OR DISTRIBUTION WOULD BE UNLAWFUL.
windeln.de with update on the current situation regarding Covid-19 (Corona)
Munich, April 7, 2020: windeln.de SE ("windeln.de", "Group" or "Company"; ISIN DE000WNDL201 and ISIN DE000WNDL219) provides an update on the effects of the Covid-19 pandemic on the Group.
The Covid-19 pandemic has led to a significant increase in the order volume of windeln.de customers since the beginning of March 2020. In March 2020, the order volume at group level increased by +28% to EUR 7.8 million after EUR 6.1 million in February 2020. This increase applies to the German-speaking region (+42%, total EUR 2.9 million in March 2020), to China (+18%, total EUR 3.8 million in March 2020) and to the Rest of Europe (Bebitus shops) (+33%, total EUR 1.2 million in March 2020). The Group sees particularly strong demand for consumables products and responds to the increased demand with a higher purchasing volume with suppliers. The Group continues to see high order intake in April 2020.
With regards to logistics, on the other hand, windeln.de experiences the following impact: (i) At the windeln.de warehouse in Großbeeren/Germany, there is currently an order backlog of approx. 5 days due to the high order volume and temporarily lower availability of foreign workers. Mainly orders for the German-speaking region are affected, orders to China only to a smaller degree and orders for the rest of Europe (Bebitus shops) are barely affected as currently sufficient logistics capacities in the local warehouse in Barcelona exist. (ii) In addition, windeln.de’s service partner for the planned new warehouse in Germany, Kids Fashion Group GmbH & Co. KG (Kanz), filed for bankruptcy last week due to the Covid-19 pandemic. The warehouse move was planned to start operations in summer 2020. windeln.de is already in contact with the insolvency administrator regarding the warehouse move project. At the same time, windeln.de is in discussions with the service provider of the current warehouse in Großbeeren regarding an extension of the existing contract and in addition, assesses the availability of warehouse capacities by other logistics service providers.
Matthias Peuckert, CEO and Nikolaus Weinberger, CFO of windeln.de, comment: “In this challenging time of Covid 19, we as an online shop for baby and toddler products are happy to guarantee our customers to shop online safely and reliably, even if the delivery times in the DACH region are currently somewhat longer than usual. In this context, we would also like to thank our employees who currently work from home in Munich, Sibiu, Barcelona and Shanghai for their work and great commitment over the past few weeks. We are proud that the offering for our customers can continue and that there is no need for short-time work with our employees. The currently higher order volume will also have a positive impact on our operating result. With regard to the planned relocation of our warehouse in Germany and the bankruptcy of our contractual partner, we are currently examining alternatives. After an initial exchange with our current logistics service provider in Großbeeren, there is the possibility to extend the current contract in the short term. Detailed talks will follow."
Charles (Zhixiong) Yan leaves Management Board of windeln.de
Munich, March 18, 2020: windeln.de SE ("windeln.de" or "Company"; ISIN DE000WNDL201 and ISIN DE000WNDL219), announces that Charles (Zhixiong) Yan left the management board of the Company. Charles Yan was responsible for new business in China and supported the recent capital increase of windeln.de.
Willi Schwerdtle, Chairman of the Supervisory Board of windeln.de: "On behalf of the Management Board and the Supervisory Board of windeln.de, I would like to thank Charles for his contribution and work at windeln.de. With regard to the recent capital increase he played a significant role in introducing the new Chinese investor group Youth Pte. Ltd to windeln.de, who now holds a 25% stake in the Company. We wish Charles all the best and great success in his personal and professional career.”
windeln.de publishes full year and fourth quarter 2019 financial results; divestiture of Bebitus to be explored; change in management board related to Chinese business
• Revenues of EUR 23.0 million in Q4 2019; +24.5% revenue increase compared to Q3 2019 due to strong sales events in China; revenues of EUR 82.3 million in FY 2019
• Adj. EBIT EUR -1.8 (-7.8% margin) in Q4 2019; positive effect from VAT correction of EUR 1.7 million; adj. EBIT EUR -13.8 (-16.8% margin) in FY 2019
• Total cash available EUR 8.4 million as of Dec 31, 2019; lower cash burn of EUR 1.3 million in Q4 2019 due to better operating result, VAT correction and lower net working capital
• Successful completion of capital increase in February 2020; gross issue proceeds of EUR 6.2 million
• Significant double-digit revenue growth and significant improvement in adj. EBIT expected for 2020; break-even on the basis of adj. EBIT targeted for Q1 2021
• Divestiture of Bebitus shops to be explored to support adj. EBIT break-even target
• Sean (Xiaowei) Wei appointed to Management Board responsible for new business China
Munich, March 18, 2020: windeln.de SE ("windeln.de", “Group” or "Company"; ISIN DE000WNDL201 and ISIN DE000WNDL219) publishes its final financial results for the full year (FY) 2019 and fourth quarter (Q4) after having published its preliminary results on January 22, 2020. The Group generated revenues of EUR 23.0 million in Q4 2019. This corresponds to growth of 24.5% compared to the third quarter (Q3) 2019 (EUR 18.5 million) due to strong sales events in the last quarter of 2019 in China. In FY 2019, the Group generated revenues of EUR 82.3 million (FY 2018: EUR 104.8 million). Adjusted (adj.) EBIT amounted to EUR -13.8 million in FY 2019 (FY 2018: EUR -18.5 million) and EUR -1.8 million in Q4 2019 (Q4 2018: EUR -2.5 million), which is a result of the continued focus on margin and cost reductions in Europe. Overall, business in China in 2019 remained below the Group's expectations.
windeln.de SE completes capital increase; full placement with gross issue proceeds of EUR 6.2 million
Munich, February 17, 2020: windeln.de SE ("windeln.de" or "Company") announces the completion of the capital increase. The share capital will be increased against cash contributions from currently EUR 2,989,101.00, divided into 2,989,101 no-par value bearer shares, by EUR 5,171,144.00 by issuing 5,171,144 new shares, each representing a pro rata amount in the share capital of EUR 1.00 per share and with dividend entitlement starting January 1, 2019 ("New Shares"), to EUR 8,160,245.00. The subscription price was set at EUR 1.20 per New Share, so that the gross proceeds of the capital measure amount to EUR 6,205,372.80.
980,081 New Shares were subscribed by shareholders by exercising their subscription rights at a ratio of 1:1.73 and additional subscription rights in the subscription period of the capital increase from January 23, 2020 to February 5, 2020. 4,191,063 New Shares which were not subscribed by shareholders via subscription rights or for which existing shareholders agreed to not exercise their subscription rights in advance, were placed in a private placement.
The capital increase was fully placed. The two existing major shareholders, Summit Asset Management Company Limited and Pinpoint International Group Limited, have participated in the private placement. In addition, a new major Chinese investor, Youth Pte. Ltd., and the companies Holland at Home B.V. and bodyguardpharm GmbH ("Bodyguard") also participated in the private placement.
The New Shares with ISIN DE000WNDL219 / WKN WNDL21 are expected to be delivered to the shareholders with a value date as from February 26, 2020 as shares that are not admitted to trading on the regulated market. In the further course of 2020, the New Shares are first to be included in the open market of a German stock exchange and, at a later stage, on the basis of a securities prospectus that is still to be prepared, to be admitted to trading on the regulated market of the Frankfurt Stock Exchange (Prime Standard).
With the gross issue proceeds from the capital increase, windeln.de intends to strengthen the Company's liquidity position in order to cover the Company's still negative cash-flow until reaching break-even on the basis of adjusted EBIT. Furthermore, the Company intends to realize important projects such as outsourcing the IT shop platform and the move of the central warehouse in Germany and to finance the build-up of net working capital necessary for growth in China.
Dr. Nikolaus Weinberger, CFO, comments the successful capital increase: “With the capital increase we are strengthening our capital base and can specifically invest in efficiency projects and growth in China. The measure also shows the potential that our investors see in the business model and the market.”
windeln.de celebrates 10th birthday with anniversary sales events
Munich, February 17, 2020: Happy Birthday, windeln.de! On the occasion of its 10th birthday in February 2020, windeln.de SE ("windeln.de") is launching great anniversary offers from February 17 to March 2, 2020 to celebrate with its customers. In this context, customers of windeln.de will benefit from various sales events and discounts in the German-speaking (DACH) region and in China in the next few weeks.
In addition to an exclusive selection of birthday deals, the following offers are planned in the DACH region:
• -25% on Pampers Baby Dry diapers and pants
• -33% on the Maxi Cosi Tobi car seat
• -20% when buying three or more tonies figures
• -35% on Qeridoo Sportrex2 bicycle trailer
• -30% EXTRA on Naty diapers
• -30% on Thule Urban Glide
• - Up to -41% on Schleich products
Additionally, daily price games will take place on windeln.de's Facebook account, where customers can win attractive prizes, such as ten shopping vouchers for windeln.de worth EUR 100.00. Customers on Instagram can look forward to the raffle of a children's birthday party from Parloo with a value of EUR 300.00 from February 24, 2019.
"Everything for my baby" – according to this motto windeln.de was founded in 2010 and can look back on 10 years of experience in online trading for baby and children's products already. With five online shops in Europe (Germany/Austria, Switzerland, Spain, Portugal and France) as well as with its Chinese online shop and a flagship store on Tmall Global in China, windeln.de offers its more than 400,000 customers a large selection of more than 45,000 products. windeln.de has set itself the task of accompanying families on their exciting path as a trustful point of contact for the purchase of products for babies, children and families with a carefully selected product range, best advice and good prices.
“We focus on our customers and on creating an attractive shopping experience that meets the needs of young families. For the 10th company anniversary, we came up with many sales events around family and children in order to offer our customers interesting deals during this time. A 10th birthday should be fun and everybody is invited to celebrate with us.” comments Matthias Peuckert, CEO of windeln.de, on the event.
windeln.de SE completes subscription period for capital increase; finalization of private placement within the next few days
Munich, February 6, 2020: windeln.de SE ("windeln.de" or "Company") announces that the Company’s shareholders according to the current status subscribed for a total of 980,081 New Shares by exercising their subscription rights and the additional subscription rights in the subscription period of the capital increase from January 23, 2020 to February 5, 2020. This corresponds to an exercise rate of 39.2% of the New Shares offered in the public offering. A total of up to 2,501,093 New Shares were offered as part of a rights offering without a securities prospectus to the Company's shareholders by way of indirect subscription rights at a subscription ratio of 1:1.73. In addition, existing shareholders were granted an additional subscription right for the subscription shares.
Dr. Nikolaus Weinberger, CFO, comments: “We consider it a positive signal that our shareholders have exercised a large proportion of their subscription rights.”
Remaining New Shares not subscribed by shareholders, as well as up to 2,670,051 New Shares in respect to which existing shareholders agreed to not exercise their subscription rights in advance, will be offered to selected institutional investors in a private placement at a price of EUR 1.20 per New Share. The Company will announce the final number of New Shares to be issued as part of the capital increase upon completion of the private placement.
The New Shares will initially not be admitted to trading on the regulated market (Prime Standard). In the further course of 2020, the New Shares are first expected to be included in the open market of a German stock exchange and, at a later stage, on the basis of a securities prospectus that is still to be prepared, to be admitted to trading on the regulated market of the Frankfurt Stock Exchange (Prime Standard).
windeln.de publishes preliminary numbers for Q4 2019 and financial year 2019 as well as outlook for 2020/21; break-even target on basis of adj. EBIT changed to Q1 2021
• Preliminary revenues of EUR 22.9 to 23.1 million in Q4 2019; revenue increase compared to Q3 2019 due to sales events and Christmas sales; preliminary revenues of EUR 82.3 to 82.5 million in FY 2019
• Preliminary adj. EBIT from EUR -1.9 to -1.6 million (-8.3% to -6.9% margin) in Q4 2019; positive effect from VAT correction of EUR 1.7 million; preliminary adj. EBIT of EUR -13.9 to -13.6 million (-16.9% to -16.5% margin) in FY 2019
• Total cash available of EUR 8.4 million as of December 31, 2019; lower cash burn of EUR 1.3 million in Q4 2019 due to better operating result, VAT correction and lower net working capital
• Significant double-digit sales growth and significant improvement in adj. EBIT expected for 2020; break-even on the basis of adj. EBIT targeted for Q1 2021
• Subscription period for capital increase from January 23, 2020 until February 5, 2020; commitment agreements of EUR 2.75 million including commitments from Bodyguard and Holland at Home
windeln.de determines details of subscription rights capital increase; companies Bodyguard and Holland at Home issue commitment letters to participate in the capital increase
NOT FOR RELEASE OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES OF AMERICA, AUSTRALIA, CANADA OR JAPAN OR ANY OTHER JURISDICTION IN WHICH SUCH RELEASE OR DISTRIBUTION WOULD BE UNLAWFUL.
windeln.de makes progress with planned capital measures
Munich, December 13, 2019: After the successful settlement of shareholder actions against the resolutions of the Extraordinary General Meeting of September 27, 2019, windeln.de SE ("windeln.de" or “Company”) expects that the resolution to reduce the Company’s share capital will be registered with the Commercial Register in the next couple of days.
The ensuing technical implementation of the decrease of the Company’s share capital from EUR 9,963,670 by EUR 6,974,569 to EUR 2,989,101 via a reverse share split at a ratio of 10 : 3 will take place in the course of the next weeks. The capital decrease will lead to a conversion of the stock exchange listing of the existing shares. The last trading day of the existing shares prior to conversion will presumably be December 20, 2019.
The capital decrease is the basis for the anticipated capital increase with subscription rights against contribution in cash, also resolved by the Extraordinary General Meeting on September 27, 2019, which is supposed to take place in the early weeks of 2020. It is intended to increase the Company’s share capital from EUR 2,989,101 by up to EUR 10,000,000 to up to 12,989,101 by issuing up to 10,000,000 new ordinary bearer shares with no-par value against contribution in cash with indirect subscription rights for existing shareholders. Details on the terms of the capital increase will be provided prior to the beginning of the subscription period.
windeln.de opened second bonded warehouse in China
Munich, November 21, 2019 – windeln.de SE ("windeln.de" or "Group") announces the successful launch of the second bonded warehouse (“BWH2”) in Ningbo, China, on November 4, 2019. The BWH2 offers customers of the Chinese windeln.de web shop (www.windeln.com.cn) the delivery of a selected product assortment directly from the BWH2 in China with the benefit of significantly shorter delivery times of 2 to 7 days and lower shipping costs.
To customers in China, windeln.de operates in the so-called cross-border e-commerce market. The BWH2 is part of windeln.de’ s growth strategy in China. The current product assortment in the BWH2 focuses on the Group’s top sellers in China with around 200 products. windeln.de has already been operating a bonded warehouse (BWH1) in Gangzhou, China, since 2017, which serves orders from customers at windeln.de’s TMall Global flagship store. With the go-live on November 4, 2019, the BWH2 was opened just in time for the large sales events in China (11.11., Cyber Monday and 12.12.).
"We are delighted to have opened our second bonded warehouse. It has been a very important strategic step regarding our delivery service. Our Chinese customers now benefit from much faster shipping and significantly lower shipping costs.” comments Matthias Peuckert, CEO of windeln.de.
A bonded warehouse is a special warehouse for intermediate storage of imported goods before they are imported into the respective customs territory so that import duties only become due at the time the goods are removed from the warehouse. The BWH2 is replenished from the Group’s German central warehouse by container shipping and meets high security standards guaranteeing the customers that the goods were imported directly from Germany.
Overall, windeln.de uses five logistics centers in Großbeeren (Germany; replenishment center for BWH1 and BWH2), Barcelona (Spain), Frankfurt am Main (Germany), Gangzhou (China) and Ningbo (China). All warehouses are operated through external service providers.
windeln.de publishes nine months and third quarter 2019 results
• 9M 2019 revenues EUR 59.4 million (Q3 2019: EUR 18.5 million) and 9M 2019 adjusted EBIT EUR -12.0 million (Q3 2019: EUR -4.7 million)
• Quarter over quarter (Q3 2019 compared to Q2 2019) some revenue growth for Europe (+4%); China revenues lower (-16%) due to delayed opening of second bonded warehouse (up and running now) and implementation of strategic cooperation for China
• Total cash available EUR 9.7 million as of September 30, 2019 (EUR -2.4 million in Q3 2019); cash capital increase with subscription rights planned
• Target to reach adjusted EBIT break-even early 2020 remains subject to Q4 2019 financial development; revenue target for full year 2019 lowered
Extraordinary General Meeting resolved on capital reduction, capital increase and new Authorized Capital
Munich, September 27, 2019 – The Extraordinary General Meeting of windeln.de SE (“windeln.de” or “Group”) took place in Munich today. The shareholders accepted with an approval rate of 77.43% a revised proposal to reduce windeln.de’s share capital from EUR 9,963,670.00 by EUR 6,974,569.00 to EUR 2,989,101.00 through an ordinary capital reduction by way of a reverse share split at a ratio of 10 : 3.
In addition, the Extraordinary General Meeting correspondingly resolved with an approval rate of 84.51% to increase windeln.de’s reduced share capital of EUR 2,989,101.00 by up to EUR 10,000,000.00 to up to 12,989,101.00 by issuing up to 10,000,000.00 new ordinary bearer shares with no-par-value against contribution in cash with indirect subscription rights for existing shareholders. By means of the capital increase, windeln.de aims to achieve issue proceeds in the amount of EUR 10,000,000.00.
Furthermore, the Extraordinary General Meeting resolved with an approval rate of 84.35% on the creation of a new Authorized Capital.
The detailed voting results and presentation by the Management Board will be available on the Company’s website corporate.windeln.de.
Convening of an Extraordinary General Meeting to vote on capital measures on September 27, 2019
Munich, August 16, 2019: The Company windeln.de SE („windeln.de“ or the “Company” and together with its subsidiaries the „Group“) announces that the Management Board and the Supervisory Board have decided to convene an Extraordinary General Meeting for September 27, 2019, to resolve on an ordinary capital reduction by way of a consolidation of shares at a ratio of 2 : 1 and thus enable the Group to carry out a capital increase. In addition, the administrative bodies will propose to approve an ordinary capital increase against cash contribution with subscription rights for the shareholders and the creation of a new Authorized Capital. The objective of these measures is to finance the growth strategy in China, to create strategic flexibility for business cooperations with a potential equity participation in China and to strengthen liquidity.
windeln.de publishes H1/Q2 2019 results: progress on profitability in Europe and business development in China
Munich, August 8, 2019: windeln.de SE (“windeln.de” or “Group”), one of the leading online retailers for family products in Europe and to customers in China, today reported results for the first half (H1) and second quarter (Q2) of 2019. The Group generated revenues of EUR 40.9 million in H1 2019 (H1 2018: EUR 56.4 million) and EUR 20.1 million in Q2 2019 (Q2 2018: EUR 23.5 million). Adjusted (adj.) EBIT was EUR -7.3 million in H1 2019 (H1 2018: EUR -11.1 million) and EUR -3.3 million in Q2 2019 (Q2 2018: EUR -5.9 million).
windeln.de appoints Charles Zhixiong Yan as additional member of the Management Board and strengthens team in China
Munich, June 3, 2019: windeln.de SE (”windeln.de” or “Group”), one of the leading online retailers for family products in Europe and to customers in China, announces that the Supervisory Board appointed Charles Z. Yan as an additional member of the Management Board. In his function, Mr. Yan is responsible for windeln.de’s strategy and business development in China driving the further growth of the Group in the attractive Chinese market.
Charles Z. Yan brings extensive experience and expertise of the Chinese market to the Group. Prior to joining windeln.de, Mr. Yan was Chief Executive Officer, Chief Restructuring Officer, and Executive Director of the Tenwow International Holdings Limited, a Hong Kong Stock Exchange listed food and beverage company, between June 01 and December 31, 2018. He has been acting as a Managing Director of Fosun Fashion Group and China Momentum Fund, a one billion US dollar fund managed by an affiliate of Fosun International Limited since 2015. Charles Z. Yan started his career at Unilever (China) Co., Ltd in 1994, where he was responsible for sales and marketing of personal products for five years. He then joined Seagram Company Ltd (now Pernod Ricard Group) where he was in charge of the Chinese business development. From 2005 to 2008, Mr. Yan worked in the consumer investment banking department of Bear Stearns in New York as Vice President. He continued his financial career at Macquarie Group Limited, Yuanta Financial Holdings and Standard Chartered Bank in Hong Kong from 2008 to 2015. Charles Z. Yan holds a Master´s degree in Business Administration (MBA) from Darden Graduate School of Business at University of Virginia, a Master´s degree in Accounting from Lubin School of Business at Pace University and a Bachelor´s degree in Economics from Shanghai University of Finance and Economics (SUFE).
Chairman of the Supervisory Board Willi Schwerdtle comments on the announcement: “Charles brings years of deep market expertise successfully scaling and developing businesses in the Asian market. We are convinced, that the addition of Charles to the Management Board will help the Group accelerating important projects in the Chinese business in 2019 and the upcoming years.”
The Group also plans to expand its presence in Shanghai. In addition to Charles Z. Yan, a larger team is being hired in China to strengthen the local market experience and presence. CEO Matthias Peuckert: “We are currently setting up an experienced team in China as we want to further expand our position as trustful German company selling high-quality European products to Chinese customers. With Charles and other competent experts based in China, we are convinced to increase our revenues profitably.”
windeln.de publishes Q1 2019 financial results
Munich, May 28, 2019: windeln.de SE (”windeln.de“, “Company” or “Group”), one of the leading online retailers for family products in Europe and to customers in China, published its financial results for the first quarter (Q1) 2019 today. The Company achieved revenues of EUR 20.8 million and adjusted (adj.) EBIT of EUR -4.0 million (-19.5% margin in % of revenues). These results are in line with expectations in terms of profitability, taking into account the restructuring measures initiated in February 2018, especially the reduction of marketing expenses and the strong focus on margins. To lay the path for future profitable growth in 2019 and beyond, the Group is pursuing several growth projects in the attractive Chinese market. For 2019 the Management Board continues to expect clear revenue growth in 2019 on a year over year basis, a further improvement in adj. EBIT and break even on basis of adjusted EBIT in early 2020.
windeln.de postpones publication of Q1 financials to end of May 2019
Munich, April 30, 2019: windeln.de SE (”windeln.de”), one of the leading online retailers for family products in Europe and to customers in China, postpones the publication of the financial results for the first quarter (Q1) 2019 to May 28, 2019. The results were to be published on May 8, 2019 originally. The one-time postponement of the quarterly results is caused by organizational and time-related additional efforts in connection with the capital increase carried out in March 2019.
The other publication dates communicated for 2019 remain unchanged.
windeln.de 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 proceeds from capital increase of EUR 10.1 million
• Significant revenue growth and further improvement of adj. EBIT expected in 2019; break even on basis of adjusted EBIT expected early 2020
windeln.de subsidiary Bebitus appoints new CEO Santiago Jócano
Barcelona/Munich, March 12, 2019: Bebitus, one of the leading online retailers for baby, toddler and children products in Spain, Portugal and France, announces that Erich Renfer, current CEO of Bebitus, will hand over responsibility to Santiago Jócano after a transition period ending on March 31, 2019.
Santiago Jócano, born in Madrid, has more than six years of experience in the e-commerce industry. He has worked in various positions for Amazon Spain, where he launched the pantry business in Southern Europe and was Country Lead for Amazon Pantry Spain (the FMCG business including baby products) until last. His management expertise and experience in implementing new strategies, covering vendor relationships and optimizing assortments as well as supply chains will help him to successfully follow the taken path of bringing Bebitus to profitability.
Santiago Jócano takes over from Erich Renfer who contributed immensely to forming the corporate strategy of windeln.de and Bebitus in the last three years within different Management roles. Besides Bebitus, he also led several strategic projects within the DACH organization of windeln.de, i.e. such as the integration of the Swiss business into windeln.de Group as well as the restructuring of Bebitus in terms of general organizational set-up and product assortment. After leaving the management team of Bebitus for personal reasons, Erich Renfer will pursue projects in his home country Switzerland. He will remain a friend and supporter of the company.
Bebitus was acquired in 2015 and fully integrated into windeln.de SE in September 2017. Since February 2018, when windeln.de announced the implementation of several efficiency and profitability measures, Bebitus has streamlined the business and focused on increasing profitability, e.g. through a deep product assortment review and a new organizational set-up, the implementation of new categories and tools (such as search and pricing) as well as the launch of a pregnancy app.
CEO Matthias Peuckert comments the Management change: “We are very grateful for Erich´s contribution at windeln.de and his successful work on building such a great team at Bebitus. He has led it through restructuring and formed an efficient basis for Santiago to take over from here. Santiago will take Bebitus to the next level of operational efficiency, developing the company into a profitable business. He has excellent market expertise in the e-commerce industry of Bebitus target markets and is characterized by his strong customer focus, which is an essential pillar of our new windeln.de/Bebitus DNA.”
Santiago Jócano states: “The market in Southern Europe is very attractive. Customer orientation is the key goal for Bebitus in order to satisfy family needs, which nowadays ask for easy access, good prices and high convenience as well as guidance and comprehensive information on all topics. We will keep on relentlessly working with the ambition of fulfilling these needs and will try to be the best partner for parents in Spain, France and Portugal on their exciting journey of being a family.”
windeln.de starts tender process for auditor rotation
Munich, March 7, 2019: windeln.de SE (”windeln.de“ or “Group”) one of the leading online retailers for family products in Europe and for customers in China, initiates a tender process for the audit mandate of the annual financial statements and annual consolidated financial statements. The Group thus complies with EU regulations and changes to the EU Directive on statutory audits.
Regulation (EU) No 537/2014 and changes to Directive 2014/56/EU require a rotation of the external auditor at regular intervals. The EU Directive requires that the auditing firm has to rotate at least every ten years in order to improve and ensure audit quality. The responsible audit partner of an auditing firm is to be changed seven years after the first date of appointment.
Ernst & Young GmbH Wirtschaftsprüfungsgesellschaft has audited the last seven consolidated financial statements of windeln.de SE (including financial year 2018). Therefore, in accordance with German and European law, the Group has initiated a procedure to appoint a new auditor for the 2019 financial year.
The Audit Committee of windeln.de is responsible for the tender process and will make a recommendation to the Supervisory Board by the end of April 2019. Offers from interested auditors must be received by windeln.de by March 28, 2019 in written form. The Supervisory Board intends to issue a recommendation to the Annual General Meeting regarding a new auditor for the audit of the annual financial statements and annual consolidated financial statements for 2019. It is planned that the new auditor of windeln.de will be elected at the Annual General Meeting on June 6, 2019.
Auditors and auditing companies can submit their interest in the tender process until March 28, 2019, 6:00 pm CET, to the central contact address investor.relations@windeln.de.
windeln.de SE successfully completes rights issue – gross issue proceeds of EUR 10.1 million
Munich, March 1, 2019: windeln.de SE ("windeln.de" or "Company") has successfully completed the capital increase with subscription rights resolved by the Extraordinary General Meeting on January 9, 2019. The share capital will be 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 entitlement to dividends as of January 1, 2018, ("New Shares") against cash contributions. Based on the fixed subscription price of EUR 1.48 per New Share, the gross issue proceeds amount to approx. EUR 10.1 million.
Existing shareholders have subscribed 1,179,978 New Shares which were offered to them by way of indirect subscription rights with a subscription ratio of 1:2.2. Unsubscribed New Shares and the New Shares for which the subscription rights had been waived in advance, thus a total of 5,670,045 New Shares, were placed by FinTech Group Bank AG after expiry of the subscription period in a private placement with qualified investors. Two new Asian investors, who had previously submitted commitment letters, subscribed New Shares in a total value of approx. EUR 6.7 million.
The New Shares with ISIN DE000WNDL011 / WKN WNDL01 are expected to be admitted to trading on the regulated market (Prime Standard) in the second quarter of 2019.
The Company has thus created a good starting position for realizing its goal of sustainable, profitable growth with a strengthened financial basis. The funds from the capital increase will mainly be used to complete the restructuring measures in Europe and to increase growth in the Chinese market. The focus will be on optimizing the product assortment and expanding the logistics and sales network in the Chinese market.
Chief Financial Officer Dr. Nikolaus Weinberger comments on the successful capital increase: "With this capital measure, we are strengthening our capital base and can selectively invest in sustainable growth. We are delighted to have expanded our investor base in our largest sales region Asia and are convinced that we will further expand our expertise in China."
windeln.de SE publishes positive adj. EBIT development in fourth quarter 2018 and resolves on subscription rights capital increase
• Preliminary adjusted EBIT of EUR -2.4 million (-9.0% margin) in Q4 2018 and EUR -18.4 million (-17.6% margin) in FY 2018; improved quarter over quarter operational contribution margin and lower adj. SG&A costs
• Preliminary Q4 2018 revenues of EUR 26.3 million; as expected, sales uplift from Christmas season and sales events (+18% revenues growth compared to Q3); preliminary FY 2018 revenues of EUR 104.8 million; total cash available EUR 11.1 million as of Dec 31, 2018; cash burn of EUR -1.7 million in Q4 2018 lower than in Q3 2018
• Subscription rights capital increase from EUR 3,113,647 by up to EUR 6,850,023 to up to EUR 9,963,670 by issuing up to 6,850,023 new shares; subscription price EUR 1,48 per share; subscription period from February 14 to February 28, 2019; gross issue proceeds expected in high single-digit million Euro range
• Commitment letters for capital increase of EUR 7.25 million already received; Management share ownership increased through management incentive program
Extraordinary General Meeting resolved on capital reduction and capital increase
Munich, January 10, 2019 – Yesterday´s Extraordinary General Meeting of windeln.de SE (“windeln.de” or “Group”), one of the leading online retailers for family products in Europe and to customers in China, resolved with a high approval rate of 99.83% to reduce windeln.de’s share capital from EUR 31,136,470.00 by EUR 28,022,823.00 to EUR 3,113,647.00 through an ordinary capital reduction by way of a reverse share split at a ratio of 10 : 1. Based on the capital reduction, windeln.de’s calculated share price ranges above EUR 1.00 on the basis of the closing price of January 9, 2019, which is the statutory minimum amount for new shares to be issued in connection with capital increases. In addition, the Extraordinary General Meeting further resolved with a high approval rate of 94.7% to increase windeln.de’s reduced share capital of EUR 3,113,647.00 by up to EUR 9,000,000.00 to up to 12,113,647.00 by issuing 9,000,000 new ordinary bearer shares with no-par-value against contribution in cash with indirect subscription rights for existing shareholders.
The new shares will carry dividend entitlements from January 1, 2018. The subscription period will commence shortly after the capital reduction has been registered with the commercial register. Further details in relation to the capital increase, including the subscription period and subscription price, will be published as soon as determined by the Management Board, with the approval of the Supervisory Board.
windeln.de Q4 2018 trading update in context of today’s upcoming Extraordinary General Meeting: Revenues of EUR 26.2 million, total cash available at EUR 11.1 million
• Preliminary Q4 2018 revenues of EUR 26.2 million; as expected, sales uplift from Christmas season and sales events (+18% revenues growth compared to Q3); preliminary FY 2018 revenues of EUR 104.7 million
• Total cash available EUR 11.1 million as of Dec 31, 2018; cash burn of EUR -1.7 million in Q4 2018 lower than in Q3 and driven by operating performance and net working capital
Convocation of Extraordinary General Meeting to resolve on ordinary capital reduction and capital increase
• Good progress on restructuring since beginning of the year and further progress ahead
• Operational and financial improvements continue in fourth quarter; longer recovery of Chinese business delays adj. EBIT break-even to early 2020
• Capital reduction and capital increase to provide further funding
windeln.de publishes 9M/Q3 2018 financial results: progress on restructuring, cost structure improved
Munich, November 8, 2018: windeln.de SE (“windeln.de” or “Group”), one of the leading online retailers for family products in Europe and to customers in China recorded revenues of EUR 78.5 million in the first nine months (9M) of 2018 (9M 2017: EUR 142.1 million). Revenues in the third quarter (Q3) 2018 amounted to EUR 22.2 million compared to EUR 23.5 million in Q2 2018 (Q3 2017: EUR 47.2 million). Adjusted EBIT amounted to EUR -16.0 million in 9M 2018 (9M 2017: EUR -16.0 million) and EUR -4.9 million in Q3 2018 compared to EUR -5.9 million in Q2 2018 (Q3 2017: EUR -4.5 million). The Group implemented efficiency and profitability measures in February this year, which included streamlining the international business and focusing all European shops on margin improvements as well as lowering overhead costs. windeln.de has made good progress on these measures in 2018, accepting a lower but more sustainable revenue base.
windeln.de SE and COO Jürgen Vedie mutually agreed to terminate service contract early
• Jürgen Vedie leaves Management Board of windeln.de SE on September 30, 2018
• CEO Peuckert and CFO Weinberger take over responsibilities from October 1, 2018
• Efficiency and profitability increase on-track, break-even expected in early 2019
windeln.de announces closing of the sale of Feedo to ags 92
Munich, August 29, 2018: windeln.de SE (“windeln.de” or “Group”), one of the leading online retailers for baby and toddler products in Europe and for customers in China, announces that, further to its announcement of July 20, 2018, it closed the sale of its Eastern European subsidiary Feedo Sp. z o.o. and its subsidiary (“Feedo”) to the Czech wholesaler and retailer for baby and toddler products ags 92 s.r.o. (“ags”) on August 24, 2018.
The sale of the stand-alone business Feedo is part of the Group´s previously announced efficiency and profitability measures. Through the divestiture of Feedo, windeln.de benefits from the deconsolidation of a loss-making and cash flow negative subsidiary (2017: adjusted EBIT of EUR -3.4 million, operating cash flow of EUR -3.3 million) as well as from the resulting Group-wide fully integrated infrastructure with all shops running on the same technical platform. As part of the restructuring measures, windeln.de announced to reduce headcount of the Group to approx. 250 active full-time equivalents (FTEs) until the end of the year. With 74 FTEs of Feedo and the headcount reduction already implemented at windeln.de, this target has already been reached with a total of 237 remaining FTEs for the Group, which will have positive impact on SG&A costs. In combination with the integration of the Southern European subsidiary Bebitus in October 2017, the closure of the loss-making Italian business pannolini.it in February 2018 and the stronger focus on margin and cost structure, the Group aims to reach break-even at the beginning of 2019.
Matthias Peuckert, CEO of windeln.de: “We are pleased to have closed the transaction within only a few weeks. The sale is a further step of our continuous efforts to sustainably improve the Group´s profitability, cost structure and organizational set-up. We are pushing forward the restructuring at this pace and are confident to be able to turn windeln.de into a profitable company.”
GCA Altium acted as financial advisor to windeln.de in connection with the sale of Feedo.
windeln.de publishes H1 2018 results: progress on restructuring, softer market environment in China
• H1 revenues EUR 56.4 million (Q2 2018: EUR 23.5 million) and H1 2018 adjusted EBIT EUR -11.1 million (Q2 2018: EUR -5.9 million); lower revenues driven by soft demand in China
• Good progress on Group restructuring with margin improvement at European shops, reduction of SG&A expenses and sale of Feedo
• Net working capital and liquidity position improved compared to previous quarter; total cash available of EUR 17.1 million as of June 30, 2018
• Target to reach adjusted EBIT break-even early 2019 confirmed
windeln.de sells Feedo to Czech distributor of baby & toddler products ags 92
• Divestiture part of windeln.de’s measures to increase efficiency and profitability
• Headcount reduction by 74 FTEs and reduction of negative EBIT of approx. EUR 3 million p.a.
• Closing of transaction expected in the course of 2018
• All online shops within windeln.de Group now on same technical infrastructure
windeln.de publishes Q1 release / first quarter in the midst of changes
• Q1 revenues of EUR 32.8 million (Q1 2017: EUR 46.6 million); softer China demand and implementation of efficiency and profitability measures leads to 29.5% decrease
• Improved adj. EBIT of EUR -5.2 million despite one-off effects (Q1 2017: EUR -6.6 million); adj. EBIT margin -16.2% (Q1 2017: -14.1%)
• Numerous restructuring measures implemented, positive effects expected in the second half of the year
Dr. Guillem Sanz, founder and CEO of Bebitus, hands over leadership role to Erich Renfer
• Handover of leadership was planned after completing integration of Bebitus business into windeln.de SE in October 1st, 2017
• Transition period will be completed as of July 1st, 2018
windeln.de with 9% revenue growth and improved EBIT in 2017
• 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 February
windeln.de honored with additional Tmall Global award
Munich, February 9, 2018: windeln.de, one of the leading online retailers for baby and toddler products in Europe and for customers in China, has won an award for the most popular product in the category “mother & baby” on Tmall Global (TMG), Alibaba Group’s B2C cross-border e-commerce marketplace. The ceremony was held on February 6, 2018 in Beijing, China at TMG´s annual forum. TMG honored six companies, each in a different category, for their role to build up the most popular products on its e-commerce platform in 2017. windeln.de received the award in the category “mother & baby” for driving the growth of popular German baby milk powder brands.
windeln.de opened its flagship store on TMG in July 2016 (windelnde.tmall.hk) in addition to its existing Chinese windeln.de webshop (windeln.com.cn). TMG describes itself as a globalized platform to help its Chinese consumers improve the quality of life and gives access to millions of Chinese families. Since the launch of the flagship store, windeln.de has generated strong growth. One highlight is the annual Single’s Day on 11.11.: in 2017, windeln.de recorded an order intake of EUR 3.5 million in one day which represents about 300% growth compared to the Single’s Day in the previous year. The cross-border e-commerce market in China is a fast-growing market especially driven by young customers with high purchasing power. windeln.de has positioned itself in this market as a well-known brand for trustworthy and high-quality German baby products.
Julia-Caroline Schmidt, Head of the China Business at windeln.de: “We are honored to receive this special award after we have already won the award for the “most popular international brand” in April 2017. The awards once again reflect the trust that Chinese parents put in our brand and offerings. The Chinese business is an important part of our company. We strive to continuously optimize our service and fulfill the needs of our customers in the best way possible.”
windeln.de initiates efficiency and profitability measures in context of upcoming CEO change and targets break-even early 2019 already
• 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 Konstantin Urban
• Preliminary 2017 financials: Revenues EUR 211 to 213 million, adjusted EBIT EUR (26) to (24) million ((13) to (11)% margin) and net liquidity of EUR 25.7 million. Publication of 2017 financials on March 14, 2018.
windeln.de successfully implements strategic and operational measures in the third quarter
Munich, Germany, November 15, 2016. In the first nine months of 2016, windeln.de SE, Europe’s leading online retailer for baby and children’s products, realized revenues growth of 30% on the previous year, with revenues of EUR 137.6 million for its continuing operations (i.e., excluding the discontinued Shopping Clubs segment).
The Company’s International Shops segment, which comprises its activities in European countries other than Germany (feedo, bebitus, pannolini and windeln.ch), already accounted for 31% of revenues in the third quarter and has more than quadrupled its revenues over the course of the year to date. With revenues of EUR 97.3 million, the German Shop matched the previous year’s revenues despite the Company’s delisting of brands with lower revenues contribution to reduce operational complexity. The business with Chinese customers handled through windeln.de’s German Shop picked up considerably in the third quarter, following a temporary dip in revenues in the second quarter due to regulatory changes. The China region has also achieved slightly positive growth over the first nine months of the year. The shop, which windeln.de launched on Alibaba’s Tmall Global platform early August, has provided a first positive contribution to this trend.
“The third quarter shows that we are on the right track to grow our revenues with significantly more cost-efficient structures and a focus on the brands generating the strongest revenues,” says Alexander Brand, co-founder and board member of windeln.de. “We also got off to a good start in the fourth quarter: nakiki’s ready-to-ship business and our Tmall Global shop are providing a positive contribution to the higher order intake in our German Shop segment.” On “11/11”, a key shopping date in China, Tmall order intake amounted to approx. EUR 0.9 million.
windeln.de expands presence in the Chinese market for baby food
- windeln.de, one of the leading pure online retailers for baby, toddler and children's products in Europe and Milupa Nutricia, the leading brand for baby food in Germany, enter a certification agreement
Munich, 15 November 2016 – windeln.de, one of the leading online retailers for baby, toddler and children's products in Europe with a strong presence in the Chinese Market, signs a strategic certification agreement with Milupa Nutricia. Objective of the partnership is to sustainably improve the availability of the popular brand Aptamil in Germany in the long term and to ensure controlled distribution to China. In the past few years, an uncontrolled grey market had developed.
windeln.de successfully implements strategic and operational measures in the third quarter
- Revenues growth of 30% in first nine months of the year, despite delisting of Brands
- German Shop off to a good start in fourth quarter, with nakiki relaunch and Tmall campaigns
- Strongly improved operating cash flow due to reduction of inventories
- Good progress in implementing measures announced late July
Munich, Germany, November 15, 2016 - In the first nine months of 2016, windeln.de SE, Europe’s leading online retailer for baby and children’s products, realized revenues growth of 30% on the previous year, with revenues of EUR 137.6 million for its continuing operations (i.e., excluding the discontinued Shopping Clubs segment).
The Company’s International Shops segment, which comprises its activities in European countries other than Germany (feedo, bebitus, pannolini and windeln.ch), already accounted for 31% of revenues in the third quarter and has more than quadrupled its revenues over the course of the year to date. With revenues of EUR 97.3 million, the German Shop matched the previous year’s revenues despite the Company’s delisting of brands with lower revenues contribution to reduce operational complexity. The business with Chinese customers handled through windeln.de’s German Shop picked up considerably in the third quarter, following a temporary dip in revenues in the second quarter due to regulatory changes. The China region has also achieved slightly positive growth over the first nine months of the year. The shop, which windeln.de launched on Alibaba’s Tmall Global platform early August, has provided a first positive contribution to this trend.
“The third quarter shows that we are on the right track to grow our revenues with significantly more cost-efficient structures and a focus on the brands generating the strongest revenues,” says Alexander Brand, co-founder and board member of windeln.de. “We also got off to a good start in the fourth quarter: nakiki’s ready-to-ship business and our Tmall Global shop are providing a positive contribution to the higher order intake in our German Shop segment.” On “11/11”, a key shopping date in China, Tmall order intake amounted to approx. EUR 0.9 million.
windeln.de Relaunches former Shopping Club Nakiki Shop as Ready-to-ship Platform Pursuing Dual Brand Strategy
Munich, 6 October 2016 - windeln.de SE, Europe's leading online retailer for baby and toddler products, has relaunched it's former shopping club "Nakiki" as a ready-to-ship platform designed to serve modern, mobile families through lifestyle-driven campaigns and has integrated it into the windeln.de shop.
With windeln.de and nakiki.de the company pursues a dual brand strategy: the windeln.de website attracts consumers by offering a wide range of mainly consumable products at attractive prices. Under the Nakiki brand, the company plans to cross-sell a curated selection of higher-margin products that are relevant for the consumer's growing children - such as internationally-popular children's clothing brands, developmentally-appropriate toys and kids' room decor. Products have been selected based on best-seller data accumulated from the shopping club sales history, and will be merchandised through emotionally-packed editorial themes that matter to modern families.
"With our new Nakiki platform we can offer a wider product range for kids. This enables us to reach a wider customer target group and therefore to extend customer lifetime." Said Konstantin Urban, Co-Founder and CEO of windeln.de SE.
windeln.de Extends Growth in Europe, German Shop Segment as expected Impacted by Regulatory Changes in China and New ERP System in Second Quarter
- windeln.de grows by 35% year-on-year in first half of the year
- As announced earlier, second-quarter earnings impacted by regulatory changes in China and migration of ERP system; adjusted EBIT margin of -15.3% in first half of the year
- Following discontinuation of the shopping clubs business, “nakiki” to become an online platform for products for children up to the age of eight years old
Munich, Germany, August 24, 2016. windeln.de AG, Europe’s leading online retailer for baby and children’s products, grew by 35% year-on-year in the first half of the year, with revenues of EUR 101.6 million. Revenues from continuing operations (not including the Shopping Clubs segment) likewise increased by 35% to EUR 91.9 million.
In particular, windeln.de experienced strong growth in other European countries in the first half of the year. With revenues of EUR 26.0 million, the International Shops segment consisting of feedo, bebitus, pannolini and windeln.ch already accounted for approximately a quarter of total revenues in the first six months of the year. “We are engaged in very attractive markets in Eastern and Southern Europe with very strong further growth prospects,” says Alexander Brand, co-founder and board member of windeln.de. “The set of measures that we announced in July supports our strategy of sustainable company growth and increasing profitability. Our foreign subsidiaries play an important role in that regard.”
The German Shop segment, which also handles business to Chinese customers, recorded revenues of EUR 66.0 million in the first half of the year; this amounts to year-on-year growth of 2%. While business in Germany increased slightly, Chinese customers’ concerns regarding changes in import regulations in the second quarter led to declining sales. Revenues in China in the first six months remained relatively unchanged year-on-year. This is in line with the expectations communicated in May. Some of the new import regulations were subsequently already suspended in June. In order to also meet local demand in China in the future, windeln.de launched its own windeln.de shop on the Tmall platform operated by Alibaba early August.
windeln.de completes conversion into a Societas Europaea (SE)
windeln.de has changed its legal form into a European Company (Societas Europaea, SE). Following the entry into the commercial register on 31.8.2016, the company will operate as windeln.de SE going forward. "windeln.de currently operates in 10 European countries.
Our new legal form as SE emphasizes our clear international orientation," said Alexander Brand, founder and co-CEO of windeln.de SE. The SE is the only supranational legal form based on European law, available to listed companies with headquarters in Germany.
windeln.de SE continues to be governed by a two-tier board structure comprising the Management Board and the Supervisory Board. The shareholders‘ rights are not affected by the conversion. The company‘s headquarters will remain in Munich.
windeln.de Initiates Set of Measures to Focus its Business Activities, Improve Processes, and Increase Profitability
- windeln.de to focus business in ready-to-ship online shops and close Nakiki’s shopping club Business
- Europe-wide integration with shared purchasing and centralized IT platform to be expedited
- Costs to be reduced through relocation of central warehouse and automating more functions
- Expanded management team systematically implementing measures
Munich, Germany, July 28, 2016 - With the approval of the Supervisory Board, the Management Board of windeln.de AG has passed a comprehensive set of measures to focus its business activities more closely on the customer, improve its operating processes, and cut costs, including already initiated measures. Hereby Europe’s leading online retailer for baby and toddler products intends to advance its transition from a pure growth value to a sustainably profitable e-commerce champion. windeln.de aims to generate balanced earnings over the next few years with the existing capital base and, in the long term, to achieve an EBIT margin of more than 5%.
Jürgen Vedie named Chief Operating Officer (COO) for windeln.de AG
- As COO Jürgen Vedie will be responsible for logistics, customer service and purchasing
Munich, Germany, June 15, 2016. – The supervisory board of windeln.de AG appointed Jürgen Vedie (46) as Chief Operating Officer. He will start on July 1, 2016.
During his time at zooplus AG, Jürgen Vedie was a member of the management board and contributed significantly to the successful and sustainable growth of the company. In particular, the set up and expansion of the international logistics network of zooplus AG has been successfully implemented under his leadership. Additionally, significant efficiency gains in logistics and sustainable cost savings in purchasing have been achieved. During that time the company grew from 250 to 740 million Euro revenues and reached positive EBIT. Before joining zooplus, Jürgen Vedie worked in different functions at WMF group for 10 years, lastly as managing director for one of the group’s subsidiary. Previous to that, he completed his university studies in transportation business economics and logistics at the university of Heilbronn.
„We are pleased that Jürgen Vedie joins our team as COO as he has a comprehensive and long-standing expertise in logistics, customer service and purchasing. As former management board member of the e-commerce company zooplus, he contributes a lot of relevant experience.“, says Alexander Brand, co-founder and co-CEO of windeln.de AG.
Konstantin Urban, co-founder and co-CEO of windeln.de: "As communicated earlier, we are working on various measures to improve customer experience and increase the profitability of windeln.de group. Jürgen Vedie will support these measures in purchasing and logistics significantly.“
windeln.de Continues Growth in the First Quarter – China Impacts Outlook
- 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 from the further business expansion in markets outside Germany, contrasted with lower growth rates growth in China. The number of active customers increased to more than one million in the first quarter, and also the number of orders rose in comparison to the fourth quarter.
At EUR 12.2 million, the European business outside Germany (International Shops), which was emphasized through the acquisitions of feedo and bebitus and the launch of the Italian online shop pannolini.it in the previous year, made a large contribution with a share of around 21% of total revenues in the first quarter. At EUR 34.8 million, the German Shop, through which Chinese business is also handled, recorded an increase of 13% over the same quarter of 2015. The Shopping Clubs (nakiki.de and nakiki.it) saw revenues rise by 43% to EUR 5.1 million. Revenues in the German-speaking region (DACH) grew by 25% year over year.
windeln.de Meets Growth and Margin Targets Following Strong Final Quarter
- Revenues in fiscal year 2015 up by 76 percent
- Number of customers doubled to almost one Million
- Expansion into further European markets as planned
- Adjusted EBIT margin within the expected range at -8.5 percent
Munich, March 17, 2016. windeln.de AG, Europe's leading online retailer for baby and children's products, was able to accelerate its growth in the fourth quarter, increasing revenues by 76 percent to EUR 178.6 million for the 2015 fiscal year as a whole.
This good performance is mainly attributable to a significantly higher number of active customers. At the end of 2015, this number – which includes the acquired online shops feedo and bebitus – was around 955 thousand. The average order value per customer also increased to EUR 90 compared to the previous year. In the final quarter, windeln.de also benefited from the positive effects of introducing direct delivery to China. This delivery option is now used by more than 80 percent of our Chinese customers.
Business in Europe outside of the German-speaking region (DACH) was expanded significantly thanks to the acquisition of feedo and bebitus and to the launch of the Italian online shop pannolini.it. In the fourth quarter it already had a 17 percent share of total revenues which equates an annualized share of revenues based on the fourth quarter of EUR 40.2 million. The German shop, through which the Chinese business is handled, achieved a sales volume of EUR 140.3 million (+58 percent). The international shops segment, which comprises windeln.ch, feedo, bebitus and pannolini.it, reported revenues of EUR 20.7 million. The shopping clubs (nakiki.de and nakiki.it) saw revenues increase twofold to EUR 17.6 million.
"Through the expansion into eastern and southern Europe, we have diversified our revenues structure and created a solid basis for the further scaling of our business model," says Alexander Brand, co-founder and board member of windeln.de. "We will work to build on this in the current year and to significantly grow the business outside of Germany."
windeln.de Remains on Course in Third Quarter
Munich, 25 November 2015. windeln.de AG, the leading online retailer in Europe specializing in products for babies and toddlers, saw significant growth again in the third quarter and has come considerably closer to its revenue and earnings target for the 2015 fiscal year. In the first nine months, windeln.de was able to increase revenue by 76 percent to EUR 118.3 million and improve the adjusted EBIT margin to -8.1 percent (prior year: -10.0 percent).
windeln.de reports successful first half year 2015
Munich, 27 August 2015. windeln.de AG, the leading online retailer for baby and toddler products in Europe, increased revenues by 85% and improved operating margins significantly in the first six months of 2015. With an adjusted EBIT margin of -5.3% (previous year period: - 11.0%) the ambitious expectations were met, putting windeln.de well on track to reach its full year targets for growth and profitability.
windeln.de acquires Spanish online shop “bebitus“
Munich, 10 August 2015. Windeln.de AG (“windeln.de” or the “Company”), one of the leading online retailers for baby and children products in Germany, Austria, Switzerland, Italy, the Czech Republic, Slovakia and Poland as well as for customers in China concluded an agreement regarding the acquisition of bebitus Retail S.L (“bebitus”) today. After the takeover of feedo Sp. z. o.o (“feedo”) – an online shop for baby and toddler products in Eastern Europe – in July 2015, this acquisition is a further milestone for windeln.de’s strategy to expand its presence in the European market.
windeln.de completes acquisition of Spanish online shop “bebitus”
Munich, October 7th, 2015. windeln.de AG, the leading online retailer for baby and toddler products in Europe, completes the acquisition of Bebitus Retail S.L. (“bebitus”), an online shop for baby and toddler products in Spain, Portugal and France. windeln.de signed the purchase agreement for bebitus on August 10th, 2015. The completion of the transaction was subject to certain conditions that have since been completed.
windeln.de lays solid foundation for successful financial year 2015 with first quarter results
- Revenue growth of 87% in the first three months compared to previous year; strong growth across all business segments and regions
- Improvement in earnings: adjusted EBIT group margin up from -11.0% to -3.6%, adjusted EBIT margin in business segment windeln.de at +5.5%
- Acquisition of Feedo signed in April 2015 to expand regional presence in Poland, the Czech Republic and Slovakia
Munich, 28 May 2015. windeln.de AG (“windeln.de” or the “Company”), one of the leading and fastest growing online retailers for baby, toddler and children products in Germany, Austria and Switzerland, laid the foundation for a successful full year in the first three months of 2015 and continued its dynamic growth. The company achieved record revenues and strong growth in all business segments and regions. windeln.de increased revenues by 87 percent to €35.6 million in the first quarter of 2015 (Q1 2014: €19.1 million), reaching a new record level. Gross profit improved to €9.1 million, which corresponds to a gross margin of 25.6 percent (Q1 2014: €4.5 million or 23.3 percent). “Our business development in the first quarter of 2015 shows that we are on a steady growth track. The proceeds from our recent IPO lay the foundation for pushing ahead with our growth strategy with even greater determination,” said Alexander Brand, management board member and co-founder of windeln.de. Konstantin Urban, management board member and co-founder of windeln.de, added: “Since its establishment in 2010, windeln.de has grown consistently and positioned itself well in a highly promising market. This success is confirmed by the high degree of customer satisfaction and a fast-growing, active customer base. It shows that with each passing quarter, we are getting closer to our goal of becoming the e-commerce champion for serving young families.” Adjusted EBIT grew by 39 percent to €-1.3 million (Q1 2014: €-2.1 million). As a result, windeln.de registered an increase of 7.4 percentage points in the adjusted EBIT margin to -3.6 percent, a new record for the first three months. Free cash flow before financing activities amounted to €0.6 million in the first quarter (Q1 2014: €-2.4 million). All business segments show improvement in profitability windeln.de is active in three business segments with two different business models. In the business segments “windeln.de” and “windeln.ch” (including “kindertraum.ch” and “toys.ch”), which are also the names of the websites, the group operates online shops with a focus on consumables and non-consumables for babies, toddlers, children and young mothers. In the “windelbar” business segment, the group uses its shopping club with the same name to sell an ever-changing range of non-consumables, such as clothing for babies, toddlers and children, toys and products for young mothers. These items are generally sold at a considerable discount compared to standard retail prices. Revenues in the “windeln.de” business segment increased by 84 percent to €30.7 million in the first quarter (Q1 2014: €16.7 million). The segment’s adjusted EBIT contribution grew substantially year on year to €1.7 million, which corresponds to an adjusted EBIT margin of 5.5 percent. In the “windeln.ch” business segment, revenues almost doubled to €1.4 million in the first three months (Q1 2014: €0.7 million), and in the “windelbar” business segment, revenue even more than doubled to €3.5 million (Q1 2014: €1.7 million). “All business segments reported strong growth and saw an improvement in margins in the first quarter. Our largest business segment, windeln.de, already reached breakeven in the fourth year since the company was established and has built on its profitability in the first quarter. We also plan to achieve this in the newer business segments, even though growth is our top priority,” said Nikolaus Weinberger, CFO of windeln.de AG. Expansion of regional presence and product portfolio In April 2015, windeln.de announced the takeover of Feedo Sp. z o.o. and the online shops “www.feedo.cz”, “www.feedo.sk” and “www.feedo.pl”. This acquisition is part of windeln.de’s strategy to expand its presence in the European market. After launching its online shop in the Czech Republic and Slovakia, Feedo entered the Polish market. The company has successfully grown in its key markets and is now a leading purely online shop for products for babies and toddlers in the Czech Republic and Slovakia. windeln.de is also constantly developing its product portfolio. Since April 2015, the Alnatura-Bio product range for babies and toddlers has had its own brand shop at windeln.de. Furthermore, a children’s furniture & living category has been added to the product portfolio. Outlook 2015 For the full year 2015, windeln.de forecasts continued dynamic growth and anticipates an increase of 70 to 80 percent in revenues for the existing business segments windeln.de, windelbar.de and windeln.ch. Entry into the Italian market, the first-time consolidation of Feedo, potential acquisitions and an expanded product portfolio represent additional growth drivers. For 2015, the company estimates revenues of around €1 to €2 million in Italy and a roughly 50 percent increase in revenues for Feedo compared to €6 million in 2014. In terms of profitability, the company expects the gross margin to steadily improve from 23 percent in 2014 to around 25 percent in 2015 and the adjusted EBIT margin to increase from -8 percent in 2014 to between -5 percent and -6 percent for the existing business segments. Including the Italian market and Feedo, the adjusted EBIT margin is expected to increase to between -6 percent and -8 percent.
Alnatura now available from windeln.de online shop / Convenient home delivery of more than 100 organic Alnatura products for babies and toddlers
Bickenbach/Munich, 27 April 2015. The Alnatura range of organic products for babies and toddlers is now available from the brand’s virtual shop-in-shop on windeln.de. Customers can order more than 100 Alnatura products, from baby food to fruit bars, from one of the largest online retailers for baby, toddler and children products in Germany. The shop is available 24/7, and windeln.de offers convenient home delivery.
Following the launch of its own webshop in cooperation with gourmondo.de, Alnatura’s partnership with windeln.de is another major step towards offering even more customers access to organic products. “We want to make it easier for parents in particular to buy organic products”, Heike Halbig, Product Manager for baby and toddler products at Alnatura, explains. “We are pleased to have found a skilled partner in windeln.de, one of the market leaders for baby and toddler products.”Konstantin Urban, management board member and co-founder of windeln.de, says: “We are constantly working on improving the shopping experience for our customers and on expanding our product range. That is why we are very pleased to include Alnatura into our already extensive range of baby food. The brand Alnatura is very popular among customers, and the particularly high standards associated with organic and Demeter-quality baby and toddler products set Alnatura apart as an especially trustworthy supplier for young parents. As a result, both brands – windeln.de and Alnatura – are a great match.” Instead of having to carry heavy bags home, parents can now order Alnatura’s organic baby and toddler products independent of stores’ regular business hours, for instance while their children sleep at night. The Alnatura product range for babies and toddlers has been around for more than 20 years. All farmed ingredients come from 100 percent organic agriculture, and most products are Demeter certified. Product development at the company is supervised by an independent working group made up of nutrition and food experts that test every new product and every change in ingredients to ensure high quality in line with the latest nutritional recommendations. For example, the brand’s baby food contains no added salt (the ingredients already have a natural salt content) and the children’s menus are seasoned only with herbs. The products contain as few ingredients as possible, making them well suited for broadening children’s nutrition step by step. The wide product range ensures variety and supports the natural development of children’s palates. In addition to the brand’s classic product range for babies and toddlers, the virtual shop-in-shop on windeln.de features other family favourites from Alnatura. With approximately 100,000 products from over 1,000 brands, windeln.de also offers a full, appealing product range for babies, toddlers and children, from diapers and baby food to child furniture, toys, clothing, strollers and car seats. windeln.de provides convenient one- or two-day home delivery on all everyday necessities, saving parents many trips to the store and making life easier for families with children.
windeln.de expands its regional footprint with the acquisition of the online shop “Feedo” in the Czech Republic, Poland and Slovakia
Munich, 20 April 2015. windeln.de AG (“windeln.de” or the “Company”), one of the leading and fastest growing online retailers for baby, toddler and children products in Germany, Austria and Switzerland, which has also established a successful e-commerce business of selling baby products to customers located in China, today announced that it has entered into an agreement regarding the acquisition of Feedo Sp. z o.o. with its online shops “www.feedo.cz”, “www.feedo.sk” and “www.feedo.pl”. The acquisition is in line with windeln.de’s strategy to expand its presence in the European market. Konstantin Urban, management board member and co-founder of windeln.de, said: “This acquisition fits perfectly into our long-term strategy to become a European leader in serving young families. The two founders did a fantastic job in establishing Feedo as a leading online retailer in its domestic market, the Czech Republic, and in entering new markets in Slovakia and Poland. These countries are particularly exciting for us as we see growth potential in the years to come: the e-commerce market in these countries has already reached a critical scale and is growing dynamically. Together with Feedo, we want to seize this promising growth opportunity.”
Nikolaus Weinberger joins windeln.de team as Chief Financial Officer
Munich, 1 April 2015. Nikolaus Weinberger (age 40) joins windeln.de, one of the leading and fastest growing online retailers for baby and toddler products in Germany, Austria and Switzerland (the “Company”), as its Chief Financial Officer effective today. In this role, he will be responsible for Finance & Controlling, Accounting, Investor Relations, Legal, Personal and Facility Management.
windeln.de named one of Europe’s top 50 high-growth companies
Munich, 20 March 2015. windeln.de GmbH (the “Company”), one of the leading and fastest growing online retailers for baby and toddler products in Germany, Austria and Switzerland, has been ranked among the “Tech Tour Growth 50” – a list of the fastest growing, high-tech and investor-backed companies in Europe. The list was compiled by Tech Tour, a company bringing together investors and high-tech entrepreneurs mainly through tours and accompanied events.
windeln.de is a well-known and trusted German pure-play online category retailer for baby and toddler products
Munich, 26 January 2015. windeln.de, one of the leading and fastest growing online retailers for baby and toddler products in Germany, Austria and the German-speaking regions of Switzerland (the “Company”), ranked among the top companies in market surveys that analyzed brand recognition of online retailers in 2014. Overall, three reports by independent research institutes confirmed the category-leading positions of windeln.de in areas such as image, loyalty and brand awareness in the Company’s key markets, Germany and China.
windeln.de closes €45 million investment round led by Goldman Sachs, Deutsche Bank, DN Capital, MCI Management and 360 Capital Partners
Munich, 19 January 2015. windeln.de, the German online retailer and flash sales platform for baby and children products (the “Company”), today announced that a consortium led by Goldman Sachs and Deutsche Bank invested €45 million in the Company. The investment comes to support the Company’s plans for strategic expansions and is intended to finance:
- The expansion of the Company’s product portfolio
- The Company’s geographic roll-out
- Potential acquisitions
Growth Capital for windeln.de
New investor Deutsche Bank
EUR 15 million financing round from international investor group
Growth Capital for windeln.de
- International expansion and extension of product portfolio
- Financing round of more than € 15 million from international investor group
Real customers are the best brand ambassadors: windeln.de and its new TV adverts
Munich, 20 March 2012 – No one can advertise a product or a company more genuinely than its actual customers. With this in mind, windeln.de, Germany’s largest online shop for a full range of baby products, put out the call to its female customers when casting for the new TV adverts, which have been airing on German television since 18 March.
windeln.de obtains additional growth capital
- Investment volume in mid-single-figure millions
- Growth story convinces existing group of investors
On track to become Germany’s leading online shop for baby products: windeln.de takes stock of its first year
Munich, 12 December 2011 – A little over a year after it was founded, Munich start-up windeln.de has very positive results to report. Germany’s largest online shop for everyday baby products has significantly outperformed its sales guidance. Monthly sales at windeln.de now exceed 1 million euros. “Total sales figures for 2011 will be in the high single millions, more than twice our initial guidance,” says Konstantin Urban, managing director and co-founder of windeln.de. “We are staggered by the demand and the rate at which customer numbers are growing for our online shop.” Only twelve months after the launch of the shopping platform, more than 100,000 parents have ordered not only diapers, baby food and dummies online, but also thermometers and many other products. windeln.de plans to have expanded its range from an initial 3,000 items to more than 10,000 products by the end of the year. At present, the Munich-based team is adding prams and child car seats to the offering. Baby clothing and toys are to follow next year. “Our ongoing expansion will help us grow to become the number-one German online shop for baby products in the years ahead,” Urban says.
The conditions could not be better. According to a consumer survey recently conducted by Dusseldorf market research institute INNOFACT, windeln.de is already as well known as the Schlecker, Rossmann or Amazon online shops for people looking to buy diapers. windeln.de also offers young parents a crucial advantage over high street retailers: “Going shopping with a baby is not an easy task,” as Alexander Brand, managing director and co-founder of windeln.de, and himself a father of two children, knows all too well. “If you have the option of ordering diapers, baby food, nursing pillows and baby monitors on the internet, that makes things much easier.” Discounts on bulk packs often mean that the unit price is also noticeably cheaper than in stores. And at windeln.de, one- to two-day delivery is free on orders over 49 euros. “Orders placed with windeln.de by 3pm can be supplied to DHL by our logistics partner Group7 AG on the same day,” adds Alexander Brand. The business model has also convinced well-known venture capital providers such as Acton, British DN Capital and High-Tech Gründerfonds. And one glance at the number of referrals shows just how enthusiastic mothers and fathers in Germany are about one-click buying. More than one-quarter of all customers are already being acquired through a special referral system. When regular customers recruit new customers, it really pays off. For every future purchase the new customer makes, a credit of 1 euro is paid into the referring customer’s own account. “In the long term, we benefit from this just as much as our customers,” Brand says. “We will keep expanding our sales concept into the future, and continue to impress parents in Germany with the quality of our products, our service and reliability.”
Start ’em young – cool baby accessories for tomorrow’s trendsetters
The cubist design of the Reer Protectioncube turns the baby monitor into a decorative item. With its clean, predominantly white design and fresh green accents, the baby monitor, which is eavesdropper-proof and features a vibration alarm and two-way intercom, looks a bit like a spacecraft. The parent unit can be worn on the wrist like a watch or attached to a belt. Its small size and the standard wrist strap provide unrestricted freedom of movement. reer Protectioncube digital baby monitor with wrist strap 64.98 euros
Inspect da’ gadgets – innovative technology for junior
High-tech meal time means no more mess. When children are learning to feed themselves, experience shows that a considerable amount of the lovingly prepared meal lands on the floor. No more, thanks to the Gyro Bowl. The ingenious secret: the inner bowl of the Gyro Bowl is connected to the outer bowl by four mounts. These enable it to turn 360° and prevent the contents from falling out. This way feeding time can be fun for all. Gyro Bowl including stay-fresh lid 16.98 euros
A safe start to their journey: windeln.de expands range to include safety and health-care products
Munich, 21 June 2011 – The moment babies start crawling, nothing is safe from them anymore. The whole world is their playground, and their surroundings have to be explored as minutely as possible. And danger – such as sharp edges, steep stairs or open drawers – may be lurking just around the corner.
windeln.de on road to success: 30,000 mothers and fathers already shop for diapers and baby products online
- 4,400 products from more than 100 brands
- More than 30 per cent of orders already from regular customers
- Growth market: sales growing by 30 per cent per month
Munich, 17 May 2011 – Shopping for diapers is not one of the great joys of parenthood: it involves regularly navigating supermarket aisles with bulky packets of diapers and then heading home laden with purchases. This was an experience Konstantin Urban, Alexander Brand and Dagmar Mahnel were all too familiar with. As a result, the three founders from Munich proceeded to come up with a solution for stressed mothers and fathers: thanks to the online shop windeln.de, parents can conveniently order the everyday baby products they need from home. Delivery takes one or two days. At present, around 30,000 customers use this service.
Fresh capital for online shop windeln.de
- Second financing round successfully closed
- New investor Acton Capital Partners on board
Munich, 10 May 2011 – windeln.de, Germany’s largest online shop for everyday baby products, has successfully closed a further financing round. Led by British venture capital company DN Capital, High-Tech Gründerfonds and a consortium of existing shareholders have once again invested in the growth of the firm. This round saw Munich-based equity growth investor Acton Capital Partners come on board as a new investor.
Fresh capital for online shop windeln.de
- Munich, Bonn, 15 September 2010 – High-Tech Gründerfonds and DN Capital are investing in windeln.de. The online shop for baby products will be launched in September 2010 with more than 80 brands in its product range, including Pampers, HiPP, Avent, Nuk and Penaten. Business angels and the management team are participating in the financing, along with the lead investors mentioned.
“windeln.de is positioning itself as Germany’s large online shop for everyday baby products,” explains founder Konstantin Urban. “And we don’t just deliver diapers – right from the start, we are offering more than 3,300 products catering to the day-to-day needs of babies and their mothers.” Urban was a General Partner at Holtzbrink Ventures prior to founding Urban Brand GmbH together with Alexander Brand, the company behind the new-born online shop. Alexander Brand previously served as Senior Vice President at Siemens Enterprise Communications and was the founder of 12snap AG. The third founder is Dagmar Mahnel, who previously gained experience at Wrigley and Procter & Gamble. All three founders are parents themselves and firm believers in the business model, which is something they have in common with High-Tech Gründerfonds. But it was not just the founding team that convinced the fund. “We anticipate a strong demand for baby products that are delivered promptly and reliably to people’s homes. At present, we don’t see any comparable e-commerce approach in Germany that can supply the whole range of baby products online,” says Dr Björn Momsen, Investment Manager at High-Tech Gründerfonds. DN Capital is convinced by the concept, and also by the team. Managing Partner Nenad Marovac says: “In addition to the attractive market, the professional design of the shop and the large product range, we were also very impressed by the experience of the management team.” Along with diapers and related products, windeln.de also offers baby food, baby care items, bottles and dummies as well as maternity and breast-feeding products. A special category for organic items caters to the growing demand for organic baby products. An experienced service provider in Hallbergmoos, Germany, will be in charge of the retailer’s logistics. Two seasoned internet professionals have already been won over, with Oliver Zenglein and Carsten Jaensch in online marketing and technology. Customer service has already been staffed prior to the launch. As a result, Alexander Brand is optimistic about the launch, which is scheduled for mid-September. “We are really looking forward to making a start after the hard work done in the planning phase, and we are confident that word will soon spread about the user-friendliness of the shop, prompt product delivery and our service.”
Further information regarding the data incident
Between June 10th and 23rd, 2020 data of some of our customers were temporarily stored on an unprotected server due to a maintenance error, which has since been corrected. The data is now safe again.
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