Westwing Group SE (OTCPK:WTWGF)
$ 6.47 0 (0%) Market Cap: 163.80 Mil Enterprise Value: 137.03 Mil PE Ratio: 0 PB Ratio: 2.29 GF Score: 62/100
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Q2 2024 Westwing Group SE Earnings Call Transcript

Aug 08, 2024 / 08:00AM GMT
Release Date Price: $6.47
Andreas Hoerning
Westwing Group SE - Chief Executive Officer

Good morning, everyone, and thank you for joining us for our earnings call on the second quarter of 2024. My name is Andreas Hoerning. I'm the CEO of Westwing. I'm hosting the call together with Sebastian Westrich, our CFO.

Looking at today's agenda, I will begin by providing key updates on the business, followed by Sebastian, who will be presenting the details of Westwing's financial performance. After our investment highlight summary, we will be happy to take your questions.

Let's take a look at Westwing's current states and the key achievements in a good second quarter of 2024. We were able to increase our GMV by 5% and our revenue by 4% year-over-year in a still very challenging market.

Adjusted EBITDA amounted to EUR4 million or 4% of revenue. This result was driven by an improved contribution margin and sustained investments in brand awareness. Our free cash flow of the second quarter amounted to minus EUR7 million. It was negative due to timing of payments and seasonal inventory effects. Our net cash position

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