Slide 1: Allegro.eu Q4 2024 results presentation
Allegro.eu Q4 2024 results presentation 13 March 2025 1
Slide 2: Disclaimer
Disclaimer This presentation (“Presentation”) has been prepared by Allegro.eu, a public limited liability company (société anonyme) incorporated and existing under the laws of the Grand Duchy of Luxembourg, having its registered office at 1, rue Hildegard von Bingen, L – 1282 Luxembourg, Grand Duchy o
Slide 3: Agenda Highlights
Agenda Highlights Financial results: Polish Operations International Operations Group Management outlook Q&A | 33
Slide 4: Highlights
Highlights 4
Slide 5: Polish GMV approached PLN 61bn in 2024, with Adjusted EBITDA at almost PLN 3.6bn
Polish GMV approached PLN 61bn in 2024, with Adjusted EBITDA at almost PLN 3.6bn FY 2024 annual performance highlights GROUP GMV PLN 64bn REVENUE PLN 10.9bn ADJ. EBITDA2 PLN 3.0bn CAPEX3 PLN 0.6bn 1 1 1 +9.6% YoY +6.7% YoY +17.9% YoY +31.5% YoY1 Polish Operations Mall Segment PLN 1,693m PLN 165m 3,5
Slide 6: Allegro finished 2024 strongly: Q4 outlook fully delivered
Allegro finished 2024 strongly Q4 outlook fully delivered with beats in profitability and international targets Polish Operations International Operations3 Group consolidated Q4’24 Outlook Q4’24 Q4’24 Outlook Q4’24 Q4’24 Outlook Q4’24 GMV 10.9% 11-13% YoY 18.6% YoY 25-28% YoY 8.6% 8-10% YoY growth gro
Slide 7: Q4 Polish GMV growth continued to outpace total retail market growth
Q4 Polish GMV growth continued to outpace total retail market growth Average annual spend per Buyer in Poland exceeded PLN 4k Q4 2024 Top Line Highlights1 ● Active Buyers advance to 20.8m across the Group, including Active Buyers GMV per Active Buyer over 15 million shoppers in Poland, with increase
Slide 8: Polish Adj EBITDA/GMV margin at 5.61% in Q4
Polish Adj EBITDA/GMV margin at 5.61% in Q4 Group capital expenditure increased 53% YoY to PLN 184m Q4 2024 Profitability, Cash-flow and Leverage Highlights1 ● Polish Adj. EBITDA / GMV margin at 5.61% for Q4 reflects: Adjusted EBITDA ○ Seasonally lower take rate for Q4 Group +5.2% ○ Marketing investmen
Slide 9: Progress update on the multi-year priority framework
Progress update on the multi-year priority framework Medium-term business objectives Grow Core Build New Expand Ensure Solid Marketplace Engines Internationally Fundamentals 1. Easy and safe to shop, 3. Strong advertising 6. Systematic 8. Groupwide system simple to sell introduction of our architect
Slide 10: The core marketplace proposition grew stronger over Christmas
Grow Core The core marketplace proposition grew stronger over Christmas Marketplace 1. Easy and safe to shop, simple to sell 2. Increasingly loyal customers ● High-frequency categories, Supermarket and ● Strong focus on loyalty and frequency: Smart! Best selection, Health & Beauty, continue growing
Slide 11: Advertising growth continuing to accelerate at 31.3% YoY for Q4
Build New Advertising growth continuing to accelerate at 31.3% YoY for Q4 Engines with significant headroom for further expansion 3. Advertising: Exploiting potential in further monetization of sponsored offers and brand solutions ● High-margin revenue growth accelerated to 31.3% YoY in Q4, reaching
Slide 12: Allegro Pay achieved loans origination similar to leading Polish banks
Allegro Pay achieved loans origination similar to leading Polish banks1 Build New Engines 4. Allegro Pay: Solid Q4 2024 and another robust year of growth for Allegro Pay ● Loan origination: PLN 3.1bn in Q4 (+20.6% YoY), reaching PLN 10.8bn for the full year (+30.3% YoY) Allegro Pay economics ● GMV fi
Slide 13: Allegro Pay: Ambitious product development roadmap for 2025
Build New Allegro Pay: Ambitious product development roadmap for 2025 Engines in consumer lending 4. Allegro Pay: Key growth enablers for 2025 ● Increased purchasing power: Allegro Pay's maximum purchasing limit raised to PLN 9k ● Allegro Pay Visa Card launched: Expanding payment flexibility for user
Slide 14: Delivery Experience: great progress towards more managed volumes
Build New Delivery Experience: great progress towards more managed Engines volumes and responsibility 5. Low cost and reliable delivery Share evolution of delivery methods1 ● Allegro One: own delivery assets: Allegro One Kurier, One Box 24% of parcel (APMs2) + One Punkt (PUDOs3) To Door volumes in Q
Slide 15: Delivery Experience: Volumes shifted to Allegro Delivery reduce parcel cost
Build New Delivery Experience: Volumes shifted to Allegro Delivery Engines reduce average parcel cost 5. Low cost and reliable delivery Allegro One development highlights: Unit parcel to APM YoY volume growth, incl. non-Smart!: ● Reached >4.5k One Boxes in Poland and 500 in Czechia, delivery cost 31
Slide 16: Delivery Experience: Alternative APM networks joining Allegro Delivery
Build New Delivery Experience: Alternative APMs networks are growing Engines and joining Allegro Delivery 5. Low cost and reliable delivery APM networks size, k ● Allegro Delivery is a required for all Smart! offers as one of the delivery methods offered to customers ● With DHL joining the programme
Slide 17: Allegro opens a third marketplace in Hungary
International Operations Expand Allegro opens a third marketplace in Hungary Internationally Focus on Mall pivot to lean merchant model 6. Systematic introduction of our asset-light marketplace 7. Complete Mall Segment turnaround GMV up 67.9% YoY in Q4 and margins improving Mall taking shape as a le
Slide 18: 2025 objectives for International Operations
International Operations Expand 2025 objectives for International Operations Internationally 6. Systematic introduction of our asset-light marketplace 7. Complete Mall Segment turnaround ● Priority on accelerating the marketplaces in Czechia, Slovakia and ● Decommission all Czech and Slovak storefro
Slide 19: We continue to work on operational excellence
Group Ensure Solid We continue to work on operational excellence Fundamentals 8. Groupwide system architecture & software development processes 9. People & Culture, ESG 3.5k machines HOW WE SHOW HOW WE GROW installed COMMITMENT grafika tbu HOW WE WORK HOW WE WORK WITH OTHERS ● Shared software stack a
Slide 20: Financial results
Financial results 20
Slide 21: Q4 2024 key results: Polish Operations
Polish Operations Q4 2024 key results: Polish Operations1 GMV Active Buyers2 LTM GMV / Active Buyer3 Take Rate4 Q4 2024 PLN 17,377m +10.9% YoY 15.1m +2.8% YoY PLN 4,031 +7.8% YoY 12.01% +0.33pp YoY FY 2024 PLN 60,707m +10.8% YoY 12.30% +0.82pp YoY Revenue5 Adjusted EBITDA Adj. EBITDA / GMV Margin Ca
Slide 22: Continued focus on buyers' loyalty drove acceleration in average spend growth
Polish Operations Continued focus on buyers’ loyalty drove YoY acceleration in average spend growth from over 15 million Active Buyers in Poland Active Buyers (period end) LTM GMV / Active Buyer (period end) m PLN m 2.8% 7.8% 0.9% 0.7% 0.4% 0.8% 1.4% 2.1% 2.1% 2.1% QoQ YoY QoQ YoY 22
Slide 23: Polish GMV growth accelerated 2.3pp YoY, reaching 10.9% for Q4
Polish Operations Polish GMV growth accelerated 2.3pp YoY, reaching 10.9% for Q4 driven by marketing spend, pricing investment and Christmas delivery promise GMV1 PLN bn 8.5% 10.0% 11.6% 10.8% 10.9% ● LTM GMV of PLN 60.7bn, up by 10.8% YoY and advancing by PLN 1.7bn QoQ 13.9% 11.6% 12.5% 12.8% 13.1%
Slide 24: Revenue up by 16.0%, driven by marketplace and advertising
Polish Operations Revenue1 up by 16.0%, driven by marketplace and advertising, further supported by logistics services2 and sales of consumer loans Revenue bridge Take Rate5 PLN m % 14.1% 31.3% 31.3% 7.0% 17.7% 16.0% ● Q4’24 Take Rate up by 0.33pp YoY, as rate cards and co-financing increases moved u
Slide 25: Adjusted EBITDA up by nearly 8% from higher Take Rate
Polish Operations Adjusted EBITDA up by nearly 8% from higher Take Rate, robust advertising performance and contribution from Allegro Pay ● Marketplace revenue reflecting accelerating GMV Adjusted EBITDA bridge in Q4 20241 growth at higher YoY take rate from Q1 increase PLN m ● Increasing contributio
Slide 26: Increased investment, in line with medium-term aspirations
Polish Operations Increased investment, in line with the medium-term aspirations and focused on delivery projects and IT Capital expenditures1 by type PLN m 62.5% ● PLN 62.0m, or +62.5% YoY higher capex, but staying focused on asset utilisation and ROI 161.2 ● For FY 2024 total PL capex at 14.9% of
Slide 27: Q4 2024 key results: Allegro International Segment
International Operations: allegro.cz, allegro.sk & allegro.hu Q4 2024 key results: Allegro International Segment1 (allegro.cz, allegro.sk and allegro.hu) GMV Active Buyers3 LTM GMV / Active Buyer4 Take Rate Q4 2024 PLN 689m +67.9% YoY 3.3m +109.7% YoY PLN 507 +22.0% YoY 6.33% -0.08pp YoY FY’242 PLN
Slide 28: Active Buyers on Allegro international marketplaces up to 3.3 million
International Operations: allegro.cz, allegro.sk & allegro.hu Active Buyers on Allegro international marketplaces up to 3.3 million, over half a million higher QoQ Traffic1 75.3% Visits m ● Added >530k Active Buyers QoQ, reaching over -18.9% 24.3% 21.3% 43.4% 3.3 million customers, more than doubling
Slide 29: Healthy 68% YoY GMV growth as frequency advanced
International Operations: allegro.cz, allegro.sk & allegro.hu Healthy 68% YoY GMV growth as frequency advanced and Christmas shoppers returned GMV 67.9% ● GMV up by 67.9% YoY and 79.4% QoQ as PLN m Allegro run peak season campaigns across -35.6% 34.4% 8.2% 79.4% three international markets ● Surge i
Slide 30: Q4 2024 key results: Mall Segment
International Operations: Mall Segment Q4 2024 key results: Mall Segment GMV Active Buyers1 LTM GMV / Active Buyer Take Rate Q4 2024 PLN 413m -54.8% YoY 3.1m -22% YoY PLN 562 -25.6% YoY 13.65% +0.33pp YoY FY’24 PLN 1,759m -42.0% YoY 12.09% -1.23pp YoY Revenue Adjusted EBITDA Adj. EBITDA / GMV Margin
Slide 31: Mall segment loss narrowed QoQ despite GMV contracting 55%
International Operations: Mall Segment Mall segment loss narrowed QoQ and stable YoY despite GMV contracting 55% GMV bridge in Q4 2024 Adjusted EBITDA bridge in Q4 20241 PLN m PLN m -53.9% -49.5% -54.8% YoY change ● GMV down by 54.8% YoY driven by accelerated rightsizing of the legacy ● Mall loss up
Slide 32: Q4 2024 key results: International Operations
International Operations Q4 2024 key results: International Operations1 (Allegro International Segment and Mall Segment) GMV Active Buyers2 LTM GMV / Active Buyer Take Rate Q4 2024 PLN 1,028m -18.6% YoY 5.7m +15.4% YoY2 PLN 573 -20.8% YoY 7.31% -1.18pp YoY FY’24 PLN 3,295m -8.6% YoY 7.57% -2.30pp Yo
Slide 33: Q4 2024 key results: Consolidated Group
Group Consolidated Q4 2024 key results: Consolidated Group1 GMV Active Buyers2 LTM GMV / Active Buyer Take Rate Q4 2024 PLN 18,396m +8.6% YoY PLN 20.8m +6.0% YoY PLN 3,075 +3.4% YoY 11.83% +0.25pp YoY FY’24 PLN 63,969m +9.6% YoY 12.16% +0.72pp YoY Revenue Adjusted EBITDA Adj. EBITDA / GMV Margin Cas
Slide 34: Leverage dipped to 0.77x for Q4'24; Board announces capital allocation policy
Group Consolidated Leverage dipped to 0.77x for Q4’24, providing tremendous financial flexibility Board announces capital allocation policy PLN m (unaudited) 31.12.2023 30.06.2024 30.09.2024 31.12.2024 LTM Adjusted EBITDA Polish Operations 2,957.6 3,412.2 3,517,0 3,586.5 ● Net leverage dropped 0.18x Q
Slide 35: Management outlook
Management outlook 35
Slide 36: Multi-year priority framework remains the core for managing growth in 2025
Allegro multi-year priority framework remains the core for managing growth in 2025 Medium-term business objectives Grow Core Build New Expand Ensure Solid Marketplace Engines Internationally Fundamentals 1. Easy and safe to shop, 3. Strong advertising 6. Systematic 8. Groupwide system simple to sell
Slide 37: Update of medium term aspirations
Update of medium term aspirations Growth and Profitability Investment funding guide rails ● Continue profitable growth in Poland, focusing on under-indexed From Polish Adjusted EBITDA, invest: categories, to deliver low double-digit GMV CAGR ● Up to 25% to fund Polish capex, including 3-4 years of acc
Slide 38: Capital Allocation Policy
Capital Allocation Policy Key principles Management’s targets and comments ● Allegro’s primary focus is to invest in its medium term business Allegro’s leverage and liquidity targets: objectives to drive further organic and profitable growth ● Net and Gross Debt to Adjusted EBITDA at 1.0x and 2.0x, ●
Slide 39: Expectations for FY 2025
Group Consolidated Expectations for FY 2025 Allegro returning to annual outlook policy International Operations3 Polish PLN / % Operations Marketplaces Mall Segment Group Comments GMV 66.2 - 67.4 bn 2.4 - 2.5 bn 0.6 - 0.8 bn 69.2 - 70.7 bn ● Steady organic growth in Poland 9-11% YoY growth 40-50% Yo
Slide 40: CEO's Conclusions
CEO’s Conclusions 40
Slide 41: Key takeaways
Key takeaways 01 | Single marketplace software platform across all 4 countries is a foundation for international growth and updated customer experience 02 | Buyer loyalty is the key driver for organic growth everywhere 03 | Allegro Delivery (including own logistics) enables systemic improvement of s
Slide 42: Q&A
Q&A 42
Slide 43: Thank you
Upcoming investor meeting opportunities: London | 17 March Citi investor meetings London | 18-19 March PKO BP CEE Capital Markets Conference London | 25-26 March Jefferies Pan-European Mid-Cap Conference Boston | 2 April Wood&Co investor meetings New York | 3-4 April Wood's EME NYC Conference Online
Slide 44: Appendix | Expanded group structure explained
Appendix | Expanded group structure explained Consolidated Group: ALLEGRO.EU Polish Operations International Operations Reportable segment Allegro Ceneo Other Mall Allegro International Legal Allegro sp. z o.o. Ceneo.pl sp. z o.o. Allegro Treasury s.à r.l. Mall Group a.s. allegro.cz (excl. Allegro I