EQS-News: The Platform Group AG with successful Capital Markets Day, exceeded forecast in financial year 2024 and new forecast for 2025 – record year expected

The Platform Group AG with successful Capital Markets Day, exceeded forecast in financial year 2024 and new forecast for 2025 – record year expected
 

• Strong organic growth in H2 2024, increase in number of partners, higher number of active customers and contribution from acquired companies drive positive development
• GMV grows by 28% to EUR 903 million (forecast: EUR 880 million to EUR 900 million)
• Net sales increases by 20% to EUR 525 million (forecast: EUR 500 million to EUR 520 million)
• EBITDA adjusted increases by 47% to EUR 33.2 million (forecast: EUR 29 million to EUR 32 million), EBITDA margin adjusted 6.3%
• Group net profit increases to EUR 35.5 million (pro forma 2023: EUR 33.2 million)
• Forecast 2025: GMV of at least EUR 1.2 billion, net sales of EUR 590 million to EUR 610 million, adjusted EBITDA of EUR 40 million to EUR 42 million and adjusted EBITDA margin of 7%
• Increase in mid-term guidance 2026: Gross merchandise volume (GMV) EUR 1.5 billion, revenue EUR 700 million and adjusted EBITDA margin of 7%, 35 sectors and 17,000 partners as well as gearing of 1.5 to 2.3

Düsseldorf, 31 January 2025. The Platform Group AG (ISIN DE000A200QEFA1, “TPG”), a leading software company for platform solutions, today held its Capital Markets Day with over 55 investors, bank representatives and shareholders in Frankfurt/Main. The Capital Markets Day focused on TPG’s current key financial figures, M&A strategy, software development and specific projects.

The Platform Group AG exceeds 2024 forecast

The forecast had already been raised twice in the 2024 financial year, most recently on 27 September 2024, driven by strong organic growth in the second half of the year, an increase in the number of partners, an increase in the number of active customers and the contribution of the acquired companies in the reporting period.

According to preliminary figures, gross merchandise volume (GMV) rose by 28% year-on-year to EUR 903 million in the 2024 financial year; the already increased forecast was EUR 880 million to EUR 900 million. Revenue increased by 20% year-on-year to EUR 525 million; the already increased forecast was EUR 500 million to EUR 520 million.

According to preliminary figures, adjusted EBITDA will amount to EUR 33.2 million and thus exceed the Company’s own increased forecast of EUR 29 million to EUR 32 million, representing a year-on-year increase of 47%. According to preliminary figures, the Company’s net profit will amount to EUR 35.5 million (prior-year period: EUR 33.3 million), which corresponds to earnings per share (EPS) of EUR 1.7. As of 31 December 2024, the Group employed 1,042 people.

Dr. Dominik Benner, CEO of The Platform Group AG: “The 2024 financial year impressively demonstrated that diversifying into sectors and specializing in profitable niches pays off. Our profit increased disproportionately, 2024 was a record year and this in an environment in which many companies in our industry were unable to grow. Online retail is now switching back to growth mode. We are therefore very optimistic about 2025 and expect all four segments to contribute to this growth.”

Forecast for financial year 2025 - record year expected

For the current financial year 2025, the Company’s Board of Directors expects an increase in gross merchandise volume (GMV) to at least EUR 1.2 billion, revenue in a range of EUR 590 million to EUR 610 million and adjusted EBITDA of EUR 40 million to EUR 42 million, with a minimum adjusted EBITDA margin of 7%. The planning relates to the Group’s current activities and consolidated companies.

TPG is expected to be operating its software and platform solutions in 30 sectors by the end of 2025, with five to eight acquisitions planned.

Laura Vogelsang, Member of the Board of Directors of The Platform Group AG: “Our results in the 2024 financial year show that our strategy is paying off. We are increasing the medium-term forecast for 2025 that we made in 2024 accordingly. With our software solution, we have managed to quickly enter new sectors, reduce costs and grow with a platform approach. As in the previous year, we are currently finding excellent conditions for acquiring profitable companies at fair valuations and increasing their value in the long term with our TPG approach. We therefore intend to achieve or exceed our consistently communicated medium-term goal of operating our platform solutions in 30 sectors and profitably realizing a GMV of EUR 1 billion in 2025 as planned.”

Mid-term planning – increase in guidance

The aim of the medium-term plan is to enable shareholders, partners and stakeholders to better plan the company’s business activities. TPG’s medium-term planning is essentially based on the following five pillars:

(1) GMV and revenue: TPG has a clear focus on profitable growth, primarily in niche areas of eCommerce. Growth is based on organic customer growth in the B2B and B2C areas of platform solutions on the one hand, and on selective acquisitions of companies in the online sector on the other. Three to eight companies are acquired each year and then systematically integrated. Thanks to the platform model and the software solutions, growth is achieved with a lower capital commitment and therefore lower capital costs than traditional online companies can achieve. The medium-term goal is to achieve a gross merchandise volume (GMV) of EUR 1.5 billion. The Board of Directors of TPG is optimistic that the defined target of EUR 1.5 billion GMV will be achieved in 2026. With regard to revenue in the 2026 financial year, the TPG Board of Directors expects a minimum figure of EUR 700 million as part of the medium-term forecast.

(2) Profitability: From TPG’s perspective, revenue without profitability is unacceptable. Business activities are therefore always geared towards achieving positive operating earnings and also reporting positive net results as a Group. At TPG, positive earnings figures go hand in hand with positive cash flows, which are actively invested. The mid-term goal is to achieve an operating margin (adjusted EBITDA margin) of 7-10%. In the 2023 financial year, this key figure was 5.1%; in the 2024 financial year, the margin was increased to 6.3%. The Board of Directors of TPG is optimistic that the defined target of at least 7% will be achieved in 2025 and 2026.

(3) Sectors: TPG aims to use the software and platform solution it has developed in numerous sectors, thereby diversifying its risk and opportunity profile across a wide range of industries. At the end of 2024, TPG was active in 25 sectors, including the machinery trade, dental technology, luxury fashion, vehicle parts and furniture trade. Even though the sectors are different, one thing is always the same: TPG’s software and platform solution, which is implemented and realized for each new vertical. This reduces costs for the acquired companies, enables growth and increases the value of an investment. The Board of Directors of TPG is optimistic that the defined target of 30 verticals in 2025 will be achieved as planned, with an expansion to at least 35 sectors expected for 2026. As part of its medium-term planning, the Board of Directors expects to acquire five to eight companies in both 2025 and 2026.

(4) Partners: Since the start of TPG’s online activities in 2012, partners have been connected to TPG’s platform and software solutions. Partners include retailers, manufacturers and wholesalers of products and services. TPG provides all eCommerce services for its partners, making TPG unique in the industry and setting it apart from its competitors. Every partner that is connected increases the number of products on our platforms, and new products ensure more active customers who buy the products. This increases GMV and revenue. Growth to 15,000 partners is planned for 2025, and the Management Board expects growth to at least 17,000 partners by 2026 as part of mid-term planning.

(5) Debt: Profitable growth requires that the Company’s operating profit is invested in a targeted manner and that debt always remains at a conservative, planned level or target corridor. TPG has two investment areas: (a) software for platform solutions and (b) the acquisition of online companies and platforms. Both investment areas are directly related: Acquired companies receive TPG’s software solutions, enabling them to save costs and grow profitably as a platform with new partners. In 2024, TPG successfully placed a bond for the first time. TPG has planned the leverage ratio (defined as adjusted EBITDA in relation to net financial debt excluding lease liabilities) at a mid-term level of 1.5 to 2.3 as a key indicator for managing finances and debt. The TPG Executive Board is optimistic that the defined target of 1.5 to 2.3 will be achieved in 2025 and 2026.

The key financial figures are preliminary, relate to the Group’s continuing operations and are unaudited. In 2023, pro-forma figures were used for better comparability ( see the 2023 Annual Report). The Platform Group AG will publish the full results for the 2024 financial year on 9 May 2025.

The Platform Group AG:

The Platform Group AG is a software company that is active in 25 sectors with its own platform solutions. Its customers include both B2B and B2C customers in sectors such as furniture retail, machinery retail, dental technology, car platforms, and luxury fashion. The Group has 18 locations across Europe and is headquartered in Düsseldorf. In 2024, sales of EUR 525 million and an operating result (adjusted EBITDA) of EUR 33 million were realized.

Contact:

Investor Relations
Reinhard Hetkamp, CFO and Head of IR
ir@the-platform-group.com
Schloss Elbroich | Am Falder 4 | 40589 Düsseldorf | Germany
corporate.the-platform-group.com