Westwing slumps after 2022 forecast, FY results
29/03/2022 07:42
** Shares in Westwing WEW.DE are seen 7.6% down in early
Frankfurt trade after the German home furnishings e-commerce
platform operator published their annual figures and provided a
new forecast
** For 2021, the company registered an adjusted EBITDA of 40
million euros ($43.98 million), falling just short of the lower
end of its 42 to 55 million euro forecast and corresponding to a
7.7% margin versus its 8 to 10% target urn:newsml:reuters.com:*:nASM0005FV
** For 2022, it expects revenues 2022 between 460 and 540
million euros as well as an adjusted EBITDA between -9 and 16
million euros at a margin of -2% to 3%
** "The new guidance reflects, among others, the
intensified adverse market developments, further supply chain
disruptions, inflation and a significantly lower consumer
sentiment" -Jefferies
** Westwing is seen at the bottom of German small-cap index
.SDAXI
($1 = 0.9095 euros)
(Reporting by Alexander Kloss)
((alexander.kloss@thomsonreuters.com))