According to a recent announcement from the company, gross merchandise volume (GMV) rose by 20% year-on-year to EUR 442.5 million. Sales increased by 23% to EUR 231.5 million. EBITDA grew by 26% to EUR 30 million, and adjusted EBITDA by 33% to EUR 17.6 million. The company announced that the profitability target of 7% was achieved; the EBITDA margin is 7.6%.
The consolidated result increased significantly by 39% to EUR 18.8 million. According to the company, the basis for the positive development was, on the one hand, the growth of the connected partners to 12,547 and, on the other hand, the expansion of the platform and software solutions to now 22 industries. Four acquisitions were made in the first half of 2024, two of which were already consolidated in the reporting period. Accordingly, the number of active customers increased by 26.3% year-on-year to over 4.8 million. The average shopping cart is EUR 118 (+3.5%).
Dr. Dominik Benner, CEO of The Platform Group AG, explains: “Our results in the first half of the year show that we are well on the way to achieving the already increased forecast for the full year 2024. Our strict cost management and focus on profitable niches are paying off. The acquisitions enable us to actively invest in new targets and thus scale our software into new industries. The communicated medium-term goal of operating our platform solutions in 30 industries and profitably implementing a GMV of EUR 1.1 billion is absolutely realistic for 2025.”
According to a company statement, the management board of The Platform Group AG expects the growth path to continue and earnings to increase further. The forecast for the 2024 financial year is confirmed.
The gross merchandise volume (GMV) is therefore expected to increase to between EUR 840 million and EUR 870 million, and net sales to between EUR 480 million and EUR 500 million. Due to the positive earnings development and the effect of the implemented cost and efficiency program, the Management Board expects a further increase in adjusted EBITDA to between EUR 26 million and EUR 30 million for the 2024 financial year.
About The Platform Group AG:
The Platform Group AG is a software company that is active in 22 industries. Customers include B2B and B2C customers, and industries include furniture retail, machine retail, dental technology, car platforms and luxury fashion. The group has 16 locations across Europe and the company is based in Düsseldorf. According to company information, over 25 investments and acquisitions have been made since 2020. In 2023, pro forma sales of EUR 441 million were achieved with an operating result (adjusted EBITDA) of EUR 22.6 million.
