DGAP-Ad-hoc: Westwing Group AG / Key word(s): Preliminary Results
Munich, January 03, 2020 // Westwing Group AG ("Westwing") releases preliminary and unaudited results for Q4 and the full year 2019 based on most recent trading and information available.
Westwing expects Q4 2019 revenue growth to be at least 10% and Adjusted EBITDA to be positive. With revenue growth of 9% in Q3 and of at least 10% in Q4 2019 - significantly stronger than in the first half of that year - Westwing now expects full year 2019 revenue growth of 5.0-5.7% (previously: lower end of the range of 6-12%), driven by GMV-to-revenue conversion timing (note: GMV growth FY 2019 at 6-7%) and a slight increase in return rate.
Westwing's Free Cash Flow for 2019 is expected to be better than EUR -25 million, driven by a positive development of the business and positive Free Cash Flow in Q4 2019. This is an improved expectation compared to the previous Free Cash Flow guidance of being better than EUR -29 million. Westwing's net cash position per end of 2019 was at c. EUR 73 million.
Westwing will publish key figures for the full year of 2019 on March 19, 2020.
Lorenz Erik Wittjen
This release contains forward-looking statements. These statements are based on the current views, expectations, assumptions and information of the management of Westwing. Forward-looking statements should not be construed as a promise of future results and developments and involve known and unknown risks and uncertainties. Various factors could cause actual future results, performance or events to differ materially from those described in these statements, and neither Westwing nor any other person accepts any responsibility for the accuracy of the opinions expressed in this release or the underlying assumptions. Westwing does not assume any obligations to update any forward-looking statements.
03-Jan-2020 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
|Company:||Westwing Group AG|
|Moosacher Straße 88|
|Phone:||+49 89 550 544 377|
|Listed:||Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange|
|EQS News ID:||946303|
|End of Announcement||DGAP News Service|
946303 03-Jan-2020 CET/CEST