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elumeo SE returns to profitable growth in Q1/2024
Sales increase by 5% to EUR 11.3 million
Adjusted EBITDA positive at EUR 148 thousand

EQS-News: elumeo SE / Key word(s): Quarter Results
elumeo SE returns to profitable growth in the first quarter of 2024

13.05.2024 / 07:30 CET/CEST
The issuer is solely responsible for the content of this announcement.

Corporate News

elumeo SE returns to profitable growth in the first quarter of 2024

Sales in Q1/2024 increase by 5% to EUR 11.3 million compared to the same quarter of the previous year (Q1/2023: EUR 10.8 million)
Adjusted EBITDA positive again at EUR 148 thousand (Q1/2023: EUR -169 thousand)
Total costs were reduced by 8 % to EUR 6.0 million
Gross profit margin falls to 48.5% (Q1/23: 52%) due to higher COGS
Active customers increased by 7% in Q1
Marketing investments from Q4/2023 bear fruit and set the course for profitable growth in the current financial year
Forecast for 2024 confirmed

Berlin, 13 May 2024 - elumeo SE (ISIN DE000A11Q059), the leading electronic retailer of gemstone jewelry in Europe, has made a good start to financial year 2024. In Q1/2024, the company increased its revenue across all sales channels by 5% year-on-year to EUR 11.3 million (Q1/2023: EUR 10.8 million). The web sales channel made an above-average contribution to this positive development, increasing by 15% compared to the same quarter of the previous year. Sales in the TV sales channel also stabilized with an increase of 1% compared to Q1/2023.

The number of active customers rose by 7% compared to the same quarter of the previous year to 40.2k (Q1/2023: 37.7k). The gross profit margin fell to 48.5% (Q1/23: 52.0%) due to inflation and higher cost of goods sold (COGS). By contrast, total costs were reduced by 8% to EUR 6.0 million (Q1/2023: EUR 6.6 million). The elumeo Group's key financial figure, adjusted EBITDA, was positive again at EUR 148 thousand (Q1/2023: EUR -169 thousand).

Florian Spatz, Chief Executive Officer of elumeo SE: "The positive development in the first quarter of 2024 brings us a significant step forward. However, we are aware that we still have a considerable amount of ground to cover in view of the persistently challenging market environment." The slowly improving consumer climate in particular gives hope for the further course of business. According to GfK data from April 2024, the forecast for May 2024 improved for the third time in a row to a value of -24.2 points, reaching the highest value in the past two years despite the persistently low level. Spatz: "We are confident that our customers' willingness to spend and purchasing power will gradually return as the year progresses."

The significant increase in sales in the web sales channel is the result of marketing investments already made in Q4/2023. This enabled the online campaigns to be optimized for profitability in Q1/2024 - with the result that the financial resources were used much more efficiently (-13%). "At the end of 2023, we tested and optimized a lot in order to activate and monetize certain customer groups much better than before. This puts us in a position to achieve greater profitability for every euro invested. We will benefit significantly from this knowledge over the rest of the year," adds Florian Spatz.

The development of the video shopping app Jooli was also encouraging in Q1/2024. The onboarding process for new users of the app was revised and now allows users to specify their personal preferences right at the start. This allows the algorithm to display suitable product videos even faster. The number of orders increased from 202 in October 2023 to 1,353 in March 2024, while the average shopping basket rose from INR 135 to INR 301 in the same period.

In light of the development to date in Q1/2024, the management of elumeo SE confirms its forecast for the current financial year. The company expects a return to profitable growth at Group level for the year as a whole. It expects mid-single-digit revenue growth of between 4% and 8% and a disproportionately high increase in adjusted EBITDA of between EUR 1.5 million and EUR 3.5 million with a gross profit margin of 49% to 51%. In addition, the management confirms the medium-term target of the #Juwelo100 growth program. This envisages sales growth to € 100 million by 2030.

Q1 2024 Selection of key figures


	Q1 2024	Q1 2023		YoY
TEUR (unless otherwise stated)				in %


Sales revenue	11.329	10.782	5,1%

Cost of Goods / Services Sold	5.835	5.179	12,7%
Gross profit	5.494	5.603	-1,9%
Gross profit in %	48,5%	52,0%	-6,7%
Total costs	6.038	6.571	-8,1%
thereof sales & marketing costs	771	884	-12,8%

EBIT	-544	-968	43,8%
EBITDA	-268	-575	53,4%
Adjusted-EBITDA	148	-169	87,6%

(hereinafter KPIs from internal controlling system)
Number of active customers	40.181	37.701	6,6%
Number of new customers	10.873	10.425	4,3%
Sales per active customer [EUR]	290	293	-1,3%
Sales volume [units]	160.048	154.810	3,4%
Average selling price [EUR]	72	70	2,2%

About elumeo SE:

The Berlin-based elumeo Group is the leading European company in the electronic direct sales of high-quality gemstone jewelry. Through a variety of electronic sales channels (TV, Internet, Smart TV and smartphone app), the listed company offers its customers colored gemstone jewelry in particular at affordable prices. The elumeo Group operates home shopping TV channels in Germany, Austria, Switzerland and Italy as well as web stores in Germany, Austria, Switzerland, the UK, Italy, France, the Netherlands, Spain and Belgium. With its wholly owned subsidiary jooli.com GmbH, the elumeo Group operates the AI-driven video shopping app Jooli.

About jooli:

jooli is the fastest growing video shopping app in Germany and India: user-friendly, intelligent and entertaining. The app inspires with products that are presented in short, entertaining videos. Users navigate through a broad product portfolio of various brands with a swipe and receive personalized shopping and gift ideas. Product partners are given an intuitive content platform to tap into new target groups with their specially produced product videos. The jooli interface also provides them with extensive data analyses, from individual video performances to click rate analyses. The app analyses user behaviour and enables brands to optimize and individualize their product offering. The jooli app is available for iOS and Android.

Further information at https://www.jooli.com/

Contact us

elumeo SE
Investor Relations
Erkelenzdamm 59/61
10999 Berlin
Phone: +49 30 69 59 79-231
Fax: +49 30 69 59 79-650
E-mail: ir@elumeo.com

www.elumeo.com

13.05.2024 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

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Language:	English
Company:	elumeo SE
	Erkelenzdamm 59/61, Portal 3b
	10999 Berlin
	Germany
Phone:	+49 30 69 59 79-0
Fax:	+49 30 69 59 79-20
E-mail:	info@elumeo.com
Internet:	www.elumeo.com
ISIN:	DE000A11Q059
WKN:	A11Q05
Listed:	Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange
EQS News ID:	1900857