The Platform Group raises full year sales and GMV outlook

The Platform Group has increased the forecast driven by the successful business development in the first half period, the acquisitions so far in 2024, the strong organic growth and the increased number of partners.

The company now expects gross merchandise volume (GMV) to increase to 880 million euros to 900 million euros and net sales to increase to 500 million euros to 520 million euros.

The company said in a release that due to the positive earnings development and the effect of the implemented cost and efficiency program, it expects a further increase in adjusted EBITDA to 29 million euros to 32 million euros for the 2024 financial year and the number of partners is now expected to increase to over 13,400.

Commenting on the updated outlook, Dr. Dominik Benner, CEO of The Platform Group said: "On the one hand, we are recording significantly stronger organic growth in the online sector this year, and on the other hand, the earnings contributions of the newly acquired investments show that our forecast was too conservative. We are therefore now adjusting our forecast for the second time this year."

The group's medium-term target now expects to be able to achieve a gross merchandise volume (GMV) of 1.2 billion euros, sales of at least 570 million euros and an adjusted EBITDA margin of between 7 percent and 10 percent for the 2025 financial year.