The Platform Group Achieves Robust Growth and Raises 2024 Forecast

The Platform Group AG has reported significant growth in sales and earnings for the first quarter of 2024. The gross merchandise volume (GMV) increased by 18.3% to EUR 190.6 million, while net sales grew by 28.2% to EUR 107.9 million compared to Q1 2023 pro-forma figures. Adjusted EBITDA rose by 24.5% to EUR 8.5 million.

The company’s consolidated net profit saw a considerable increase of 40.2%, reaching EUR 11.4 million. This growth has enabled the company to revise its annual forecast for 2024. GMV is now expected to be between EUR 840 million and EUR 870 million, with net sales projected to range between EUR 480 million and EUR 500 million. Adjusted EBITDA is anticipated to be between EUR 26 million and EUR 30 million.

CEO Dr. Dominik Benner attributed the positive results to the company's diversified approach and successful acquisitions, highlighting that the first quarter exceeded internal expectations. The number of active customers has increased by 21.8%, with a slight rise in the average shopping basket value to EUR 115.