Elumeo Se · XETR:ELB
Elumeo — Q3 2024 Earnings Presentation
28 slides from Elumeo's earnings presentation, Nov 14, 2024
Slide 1: Q3 2024 and 9M 2024 Financial Earnings Call
Q3 2024 and 9M 2024 Financial Earnings Call 14.11.2024 1
Slide 2: Summary of key developments in Q3 & 9M 2024
elumeo Summary of key developments in Q3 & 9M 2024 Revenue remains stable in 9M 24 at EUR 33,3m (9M 23: EUR 33,0m), outperforming the market. In Q3 24, because of increased prices for gold and silver and a decline in consumer sentiment, revenue decreased by 4,5% to EUR 10,5m (Q3 23: EUR 11,0m). Sell
Slide 3: Table of contents
Table of contents 01 elumeo, Juwelo & jooli at a glance 02 Key developments in 9M 2024 03 Financials in 9M 2024 04 Outlook 3
Slide 4: One Mission. Two Brands. Multiple Synergies.
elumeo One Mission. Two Brands. Multiple Synergies. Core belief: Emotion is the driving force behind successful E-commerce Core driver: Videoshopping is the key to generate the next level of emotional experiences in E-Commerce Core approach: elumeo builds technology platforms to leverage efficiency
Slide 5: Table of contents
Table of contents 01 elumeo, Juwelo and jooli at a glance 02 Key developments in 9M 2024 03 Financials 9M 2024 04 Outlook 5
Slide 6: Juwelo continues to outperform the market
MARKET & JUWELO JUWELO Juwelo continues to outperform the market Revenue of Revenue of Revenue of Online Revenue of Teleshopping Market Multichannel Market Jewelry & Watches Market Juwelo Business Germany, in b EUR Germany, in b EUR Germany, in b EUR Germany et al., in m EUR -5% -4% -1% -1% 23,1 22,
Slide 7: Revenue decline in LIVE in line with reduced active customers, but increase of average selling price
JUWELO LIVE Revenue decline in LIVE in line with reduced active customers, but increase of average selling price and basket size Revenue of Number of Average selling price Average basket size LIVE business Active customers (ASP) (ABS) in m EUR in k EUR in EUR in EUR -3% -4% +6% +3% 23,1 22,4 33,2 31
Slide 8: Web grows in 9M and improves profitability, reducing marketing spendings
JUWELO WEB Web grows in 9M and improves profitability, reducing marketing spendings and increasing revenue per customer Revenue of Marketing Average basket size Revenue per WEB business spendings (ABS) customer in m EUR in k EUR in EUR In m EUR in EUR +4% -22% +9% +16% 10,2 10,6 2.870 99 257 91 222
Slide 9: After the steady recovery in 2024, consumer sentiment suffered an unexpected and severe setback
JUWELO Market in Q3 After the steady recovery in 2024, consumer sentiment suffered an unexpected and severe setback in September Consumer sentiment index according to GFK GfK had to revise its original forecast for the consumer climate downwards from -18,6 points to - July August September 22 points
Slide 10: Strong increase of Gold and Silver prices with negative effect on margin
JUWELO Market in Q3 Strong increase of Gold and Silver prices with negative effect on margin Silver price Historical prices for gold and silver Gold price elumeo's consolidated gross in USD in USD profit margin came under pressure in Q3 because of 35 3.000 significantly higher prices for gold and si
Slide 11: Increased COGS and low consumer sentiment impacted performance of new product
JUWELO Merchandise Q3 Increased COGS and low consumer sentiment impacted heavily the performance of new product. Recovery started beginning of Q4. Premieres profit-per-show-minute (ppm) Premieres profit-per-show-minute is continuously recovering In EUR In EUR 65 (1) -28% 59 54 54 50 74 53 Q3 2023 Q3
Slide 12: An update on #Juwelo100: EUR 100m sales plan by 2030
#juwelo100 #juwelo100 An update on #Juwelo100 EUR 100m sales plan by 2030 through profitable growth Internationalization 2.0 Augmented & AI based Virtual reality internationalization of Juwelo’s successful video From augmented reality shopping shopping format assistants to a virtual and social Metav
Slide 13: Juwelo's new multi-language platform
Juwelo #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
Slide 14: Internationalization is scaling at fast pace, revenue increased by 116%
JUWELO #juwelo100 Internationalization is scaling at fast pace, revenue increased by 116% to EUR 74k in September 2024 Revenue of international linear TV channels Next steps for international scaling Total sales 80.000 € Until July 2024 the focus was technically testing the 1 platform. 70.000 € 60.0
Slide 15: Significant growth potential as Juwelo covers only 22% of European households
Juwelo #juwelo100 Significant growth potential as Juwelo is currently covering only 22% of European households Out of a total of 259 million households in 100%=41,25 Europe, Juwelo currently reaches only 56 million households with its video content 40%=1,6 56%=2,3 offering, which corresponds to 22%.
Slide 16: Inspirational Leisure Shopping
INSPIRATIONAL LEISURE SHOPPING 16
Slide 17: After the successful launch of the new platform for jooli, elumeo will benefit in three dimensions
jooli After the successful launch of the new platform for jooli, elumeo will benefit in three dimensions Better marketing Reduced cost One firm, one strategy, for jooli for jooli one platform • Improved • Lower Customer • One central multi- marketing Acquisition cost currency/multi efficiency throug
Slide 18: Table of contents
Table of contents 01 elumeo, Juwelo and jooli at a glance 02 Key developments in 9M 2024 03 Financials 9M 2024 04 Outlook 18
Slide 19: Stable revenue, margin under pressure because of market context
elumeo Stable revenue, margin under pressure because of market context 9M 2024 vs. 9M 2023 – performance overview Revenues Gross profit margin % Gross profit in m EUR in m EUR -0,9% -3,2 %P. -7,1% 33,3 33,0 51,5% 48,3% 17,2 15,9 9M 2023 9M 2024 9M 2023 9M 2024 9M 2023 9M 2024 Revenue decreased by 1%
Slide 20: In first 9 months of 2024, SG&A expenses down by 6,2%, adjusted EBITDA positive
elumeo In first 9 months of 2024, SG&A expenses down by 6,2%, adjusted EBITDA positive at EUR 436k 9M 2024 vs. 9M 2023 – performance overview SG&A expenses Adjusted H1 EBITDA 2023 Q1 2024 in m EUR in k EUR -6,2% Cost reductions realized via -28,2% optimizations of online marketing spendings (-13%) a
Slide 21: We delivered on our cost efficiency program
JUWELO #juwelo100 We delivered on our cost efficiency program More quality than quantity Cost savings Improved profitability Focus on more profitable Better targeted online marketing Higher margins per new customer customers Improved margin per active Focus on higher price points Reduced service cen
Slide 22: Cost improvements of EUR 2,7m have been fully executed
JUWELO #juwelo100 Cost improvements of EUR 2,7m (pro forma for 9M 2024 YoY) have been fully executed. Major cost saving impact in Q4 2024. To visualize the success and volume of Selling and administrative expenses 9M YoY our efficiency and profitability program, In k EUR we 18.580 276 18.856 2.746 1
Slide 23: Thanks to our cost efficiency program, we have decreased the cost share of revenue
JUWELO #juwelo100 Thanks to our cost efficiency program, we have been able to clearly decrease the cost share of our revenue Pro forma SG&A 9M in % of revenue 2024 vs. 2023 Reduced personnel cost -14% Optimized marketing cost 57% 49% Reduced logistics & handling 9M 2023 9M 2024 cost 23
Slide 24: In Q3 2024, increased gold and silver prices led to revenue and margin decrease
elumeo In Q3 2024, increased gold and silver prices led to revenue and margin decreased Q3 2024 vs. Q3 2023 – performance overview Revenues Gross profit margin % Gross profit in m EUR in m EUR -4,5% -4,0 %P. -12,0% 11,0 10,5 5,6 50,6% 46,6% 4,9 Q3 2023 Q3 2024 Q3 2023 Q3 2024 Q3 2023 Q3 2024 In Q3,
Slide 25: In Q3 2024, SG&A decreased by 12,9%, adjusted EBITDA remains positive
elumeo In Q3 2024, SG&A decreased by 12,9%, adjusted EBITDA remains positive Q3 2024 vs. Q3 2023 – performance overview SG&A expenses SG&A expenses (pro-forma) Adjusted H1 EBITDA 2023 Q1 2024 in m EUR in m EUR in k EUR -12,9% -19,4% Cost reductions -79,1% realized via optimizations of online marketi
Slide 26: Table of contents
Table of contents 01 elumeo, Juwelo and jooli at a glance 02 Key developments in H1 2024 03 Financials H1 2024 04 Outlook 26
Slide 27: Outlook 2024 – elumeo returns to profitable growth
elumeo Outlook 2024 – elumeo returns to profitable growth Revenue growth Gross profit margin Adjusted EBITDA -4% to -1% 47 - 49% EUR 0,5m – EUR 1,5m 27
Slide 28: Executive Board, Managing Directors, Investor Relations
Executive Board Managing Directors Investor Relations 28