Elumeo Se · XETR:ELB
Elumeo — FY2024 Earnings Presentation
36 slides from Elumeo's earnings presentation, Apr 30, 2025
Slide 1: 2024 FY Financial Earnings Call
2024 FY Financial Earnings Call April 30, 2025 1
Slide 2: Summary of key developments in 2024
elumeo Summary of key developments in 2024 2024 was characterized by a challenging market environment with increased gold prices, a decline of the consumer sentiment and a drop in TV cable households from main cable TV network operator. Revenue and gross margin at lower end of revised guidance. Reve
Slide 3: Table of contents
Table of contents 01 elumeo at a glance 02 Key developments in 2024 03 Summary Financials in 2024 04 Outlook 05 Financial Statements 3
Slide 4: We combine emotional shopping experience with our integrated value chain on our AI-tech-platform
We combine emotional shopping experience with our integrated value chain on our AI-tech-platform Emotional video shopping Via our video-based channels and formats, we provide an emotional and inspirational shopping experience. Our sales shows reach a large number of people while at the same time cre
Slide 5: Table of contents
Table of contents 01 elumeo at a glance 02 Key developments in 2024 03 Summary Financials in 2024 04 Outlook 05 Financial Statements 5
Slide 6: Challenging market situation with dramatically increased gold price, a decline of the consumer sentiment
MARKET Challenging market situation with dramatically increased gold price, a decline of the consumer sentiment and ending of “Nebenkostenprivileg” Increase of gold price and drop in consumer sentiment According to the research (GfK) of the Gesellschaft für 2024 Forecast Restructuring Konsumklima (G
Slide 7: Ending of cable TV service charge privilege caused significant loss of cable TV households
Excessive reach cost JUWELO Ending of cable TV service charge privilege caused significant loss of cable TV households in Germany that impacted our LIVE TV business Number of CABLE TV customers in Germany from major cable LIVE Revenue Growth YoY network operators In % of revenue growth YoY 14.000 -2
Slide 8: Cable TV feed-in-fees violate anti trust rules according to legal opinions
Excessive reach cost Cable TV feed-in-fees According to legal opinions feed-in fees charged by major cable TV operators for the German cable network violate anti trust rules Background • After the end of the ancillary cost privilege for network operators (Nebenkostenprivileg), Juwelo has come under
Slide 9: In this context, revenue and margin declined. Our cost efficiency program started end of Q2 2024
FY 2024 In this context, revenue and margin declined. Our cost efficiency program started end of Q2 2024 will show its main effect in 2025 Revenue Gross margin SG & A reduction In m EUR In m EUR In m EUR -4% -10% -8% 45,4 43,4 22,7 25,9 20,4 23,8 2023 2024 2023 2024 2023 2024 9 elumeo finance data
Slide 10: Full year results 2024: Revenue and gross profit margin at lower end of guidance
FY 2024 Full year results 2024: Revenue and gross profit margin at lower end of guidance, adjusted EBITDA below forecast due to temporary burdens Revised Guidance(1) FY 2024 2024 Guidance for4,2024 (from October 2024) FY -4% to -1% -4,4% 47% - 49% 47,1% EUR 0,5m – EUR -0,8m EUR 1,5m 10 Revised guida
Slide 11: Revenue decline in TV business related to market environment
TV Revenue decline in TV business related to market environment, increase of average revenue per piece and revenue per customer No of cable TV households from Revenue of elumeo Average revenue Revenue per major cable network operators TV business per piece customer in m, Germany in m EUR in EUR in E
Slide 12: Web business with significant improvement of profitability
WEB Web business with significant improvement of profitability, reducing marketing spendings and increasing revenue per piece and per customer Marketing Revenue of Average revenue Revenue per spendings Web business per piece customer in k EUR in m EUR in EUR In m EUR in EUR -34% +0% +12% +24% 3.263
Slide 13: On April 1st 2025, a restructuring program was executed in order to return to profitability
RESTRUCTURING On April 1st 2025, a restructuring program was executed in order to return to profitability Reduce live hours from 15 to 10 Cost reductions in personnel related Reduction of less profitable U50 hours per day to platform operations product Switch of 5 hours per day from Live Increased p
Slide 14: Focus on Jewelry above 50 EUR allowed us to reduce number of pieces disproportionately
PRODUCT STRATEGY Focus on Jewelry above 50 EUR allowed us to reduce number of pieces disproportionately to the gross margin Average Revenue per Piece increased after Pieces sold below 50 EUR and impact restructuring on profit margin In EUR, revenue per piece April-to-date YoY 2024 2025 94 -57% Piece
Slide 15: Increased platform efficiency thanks to digitalization and implementation of Artificial Intelligence
EFFICIENCY Increased platform efficiency thanks to digitalization and implementation of Artificial Intelligence Thanks to recently released automation features of our platform and the impressive development of AI, we are able to improve the efficiency of our platform in a significant way. Example: A
Slide 16: elumeo executed a cost saving program with a volume of 5,9m EUR
Cost reduction elumeo executed a cost saving program with a volume of 5,9m EUR Impact of cost reduction program 2024 vs. 12-month run rate; in m EUR SUM of 5,9m EUR Personnel cost reduction related to platform efficiency improvements and 2,1 AI Personnel cost related to number of pieces shipped (vol
Slide 17: Thanks to our cost efficiency program, we have been able to clearly decrease the cost share of our revenue
#juwelo100 Juwelo Thanks to our cost efficiency program, we have been able to clearly decrease the cost share of our revenue SG&A in % of revenue 2023, 2024 and 12-Month run rate Reduced -7% personnel cost -12% Optimized marketing cost 56% 52% 46% Reduced logistics & handling cost 2023 2024 12 month
Slide 18: Assumptions on pieces, revenue and cost presented on April 1st 2025 mostly in line with actuals
RESTRUCTURING Assumptions on pieces, revenue and cost presented on April 1st 2025 mostly in line with actual month-to-date development Plan announced on April 1st 2025 Actuals after 1st April 2025 Run rate compared to FY 2024 (April 2025 vs. April 2024) 18 Internal ERP data, month-to-date until Apri
Slide 19: Juwelo's new multi-language platform: AI is the catalyst for tech-driven internationalization
#juwelo100 Juwelo’s new multi-language platform AI is the catalyst for lean & fast tech-driven internationalization German Live show AI translated international shopping shows AI translation Using our self-developed We combine AI translations and This allows us to leverage our video technical platfo
Slide 20: The growth rate of our international channels is increasing
#juwelo100 The growth rate of our international channels is increasing Revenue of international linear TV channels Milestones and next steps for international scaling Total sales in EUR in Spain and Italy, France excluded Since July 2024, we have moved to automatize the 300.000 € 1 generation of the
Slide 21: Customer Lifetime Value of international customers outperform the CLV of main LIVE TV business
#juwelo100 JUWELO Customer Lifetime Value (CLV) of international customers outperform the CLV of customers from main LIVE TV business Customer Lifetime Value (CLV) CLV of international customers Live TV business vs. Internationalization 2.0 outperformed average CLV from Live TV customers 350 € The g
Slide 22: Significant growth potential as Juwelo is currently covering only 24% of European households
#juwelo100 Significant growth potential as Juwelo is currently covering only 24% of European households Out of a total of 259 million households in Europe, Juwelo currently reaches only 62 100%=41,25 million households with its video content offering, which corresponds to 24%. Based on the existing
Slide 23: Table of contents
Table of contents 01 elumeo at a glance 02 Key developments in 2024 03 Summary Financials in 2024 04 Outlook 05 Financial Statements 23
Slide 24: Decreased revenue, margin still under pressure
Decreased revenue, margin still under pressure 2024 vs. 2023 – performance overview Revenues Gross profit margin % Gross profit in m EUR in m EUR -4,4% -2,9 % P. -10,1% 45,4 43,4 50,0% 22,7 47,1% 20,4 2023 2024 2023 2024 2023 2024 Revenue decreased by -4,4%, Gross profit margin Gross profit went dow
Slide 25: In 2024, total expenses down by 7,8%, adjusted EBITDA decreased
In 2024, total expenses down by 7,8%, adjusted EBITDA decreased 2024 vs. 2023 – performance overview SG & A expenses Adjusted H1 EBITDA 2023 Q1 2024 in m EUR in k EUR -7,8% Cost reductions realized via -429 optimizations 0 of online marketing spendings (-13%) -200 -384 and cost of TV reach (-7%) -40
Slide 26: Effects – From EBIT to Adjusted EBITDA
elumeo Effects – From EBIT to Adjusted EBITDA k EUR 0 -813 -500 246 1.441 -1.000 -2.539 -1.500 -3.280 -2.000 62 741 -2.500 -23 -3.000 -3.500 EBIT Depreciation EBITDA Currency Stock Options R & D Jooli Legal and Adjusted EBITDA Program consulting fees (legacy) 26
Slide 27: Table of contents
Table of contents 01 elumeo at a glance 02 Key developments in 2024 03 Summary Financials in 2024 04 Outlook 05 Financial Statements 27
Slide 28: Outlook 2025 – elumeo lays basis for return to profitable growth
elumeo Outlook 2025 – elumeo lays basis for return to profitable growth Revenue decrease Adjusted EBITDA Gross profit margin -10% / -15% EUR -0,5m / EUR 0,0m 47 - 49% 28
Slide 29: Table of contents
Table of contents 01 elumeo at a glance 02 Key developments in 2024 03 Summary Financials in 2024 04 Outlook 05 Financial Statements 29
Slide 30: Income Statement - Group
Elumeo elumeo Income Statement - Group EUR thousand | % of revenue 01.01. - 31.12.2024 01.01. - 31.12.2023 Revenue 43.389 100,0% 45.388 Cost of goods sold -22.969 -52,9% -22.682 Gross profit 20.420 47,1% 22.705 Selling expenses -16.174 -37,3% -16.919 Administrative expenses -7.653 -17,6% -8.931 Othe
Slide 31: Balance sheet – elumeo SE
Elumeo elumeo Balance sheet – elumeo SE ASSETS EUR thousand | % of balance sheet total 01.01. - 31.12.2024 01.01. - 31.12.2023 YoY in % Non-current assets Intangible assets 115 0,6% 183 0,8% -36,9% Property, plant and equipment 302 1,6% 425 1,9% -28,9% Assets from rights of use 1.323 7,1% 1.637 7,4%
Slide 32: Balance sheet (II) - Group
Elumeo elumeo Balance sheet (II) - Group EQUITY & LIABILITIES EUR thousand | % of balance sheet total 01.01. - 31.12.2024 01.01. - 31.12.2023 YoY in % Issued capital 5.927 32,0% 5.677 25,6% 4,4% Capital reserves 35.654 192,3% 35.342 159,5% 0,9% Accumulated losses -37.340 -201,3% -32.918 -148,6% -13,
Slide 33: Cashflow statement - Group
Elumeo elumeo Cashflow statement - Group EUR thousand 01.01. - 31.12.2024 01.01. - 31.12.2023 YoY in % Earnings before taxes (EBT) from continuing operations -3280 2854 -14.98 Earnings before taxes (EBT) from discontinuing operations 0 2174 -100 Earnings before interest and taxes (EBIT) from continu
Slide 34: Equity statement - Group
Elumeo Equity statement - Group REASON FOR CHANGE Attributable to the shareholders of elumeo SE Foreign currency EUR thousand Issued capital Capital Reserve Retained losses Total equity translation reserve 01.01.2024 5.677 35.342 -32.918 -32 8.069 Capital increase 250 250 500 Equity-settled share-ba
Slide 35: Income Statement – elumeo SE
Elumeo Income Statement – elumeo SE 01.01. - 31.12.2024 01.01. - 31.12.2023 Revenue 1.061 1.326 Other operating income 214 400 Personnel expenses -839 -1.028 Depreciation and amortization -13 -11 Other operating expenses -1.933 -2.930 Financial result -21.803 1.003 Taxes on income -3 -116 Annual pro
Slide 36: Balance sheet – elumeo SE
Elumeo Balance sheet – elumeo SE ASSETS TEUR 31.12.2023 31.12.2022 Fixed assets 29.537 52.543 Current assets 7.005 6.807 Prepaid expenses and deferred charges 61 28 36.603 59.377 EQUITY & LIABILITIES TEUR 31.12.2024 31.12.2023 Equity capital 34.897 57.713 Provisions 291 345 Liabilities 1.415 1.320 3