DGAP-Adhoc: windeln.de SE: windeln.de announces preliminary figures for the first quarter of 2022

windeln.de announces preliminary figures for the first quarter of 2022

Munich, April 27, 2022:
windeln.de SE ("windeln.de", "Group" or "Company"; ISIN DE000WNDL300 and DE000WNDL318) informs on a preliminary basis about its business results for the first quarter of 2022. Accordingly, consolidated revenues for continuing operations amounted to EUR 12.8 million in the first three months of 2022, compared to EUR 14.6 million in the first quarter of 2021. This corresponds to a year-on-year decline in revenues of -13%, which is mainly due to delivery difficulties of the main supplier. In contrast, the operating contribution margin improved very strongly by EUR 1.6 million to EUR 2.2 million in the first quarter of 2022 (Q1 2021: EUR 0.6 million). Due to supply shortages in the Chinese market, significantly higher margins were achieved. In addition, according to preliminary figures, adjusted EBIT improved strongly to EUR -0.8 million (-6.2% as a percentage of sales) in Q1 2022 compared to EUR -3.5 million in Q1 2021 (-23.6% as a percentage of sales). In addition to the very strongly improved margin, significant savings were achieved in the area of other selling and administrative expenses. Net working capital as of March 31, 2022 amounts to EUR -0.8 million compared to EUR 2.9 million as of the previous year's reporting date and EUR 1.0 million as of December 31, 2021. As a result, windeln.de generated a cash inflow from operating activities of EUR 0.7 million in the first quarter of 2022 (Q1 2021: cash outflow of EUR 4.8 million). Cash and cash equivalents amount to EUR 4.6 million as of March 31, 2022, compared to EUR 4.1 million as of December 31, 2021.

It is currently still uncertain whether the positive development of the first quarter of 2022 will continue; in particular, there are uncertainties regarding the development of supply in the Chinese market. The Company therefore continues to adhere to the guidance published on March 28, 2022. The break-even point based on adjusted EBIT is expected to be reached for the first time in 2023.
The Company will publish the final figures for the first quarter of 2022 on May 30, 2022.
In addition, the Executive Board has decided to postpone the date for the publication of the results for fiscal 2021 once again and to publish these also on May 30, 2022. The background to this postponement - as with the original postponement to April 29, 2022 - is the ongoing discussions with the Company's auditor regarding the evidence for the assumption of going concern in the annual financial statements and consolidated financial statements for fiscal year 2021. The Company expects that these discussions can be concluded by the new publication date after the implementation of the capital increase and that the auditor will then issue the audit opinion.

As windeln.de SE has extended the subscription period from March 30, 2022 to May 11, 2022 (inclusive) as part of the subscription offer due to the Covid-19-related lockdown in Shanghai, China, the implementation of the capital increase and the conclusion of the discussions with the auditor regarding the annual and consolidated financial statements for 2021 will be postponed accordingly.
 

Contact
Legal
Daniel Panajotow
Phone: +49 (89) 41 61 71 52 62
Email: investor.relations@windeln.de

1337103  27-Apr-2022 CET/CEST