DRESDEN, Germany (BRAIN) — E-commerce retailer Bike24, which joined the Frankfurt stock exchange after an IPO in June, is reporting that its sales were up 44% in the first half of its fiscal year, compared to the period last year.
Sales totaled 127.4 million euros ($149 million) in the period while the number of orders received totaled 908,000, a 34% increase over the prior-year period. Net profit was 2.8 million euros, compared to a 554,000 euro loss in the first half of 2020.
The retailer reported that it received an average of 2.15 orders per active customer in the period, up 3.2% from the period last year. the average order size also increased 4.6%, to 141 euros. Adjusted EBITDA margin was 14.9%.
"We have had an eventful and very successful first half-year behind us, which culminated in the IPO at the end of June," said Andrés Martin-Birner, the co-founder and CEO of Bike24. "Thanks to our forward-looking procurement policy, our strengthened supplier relationships and a strong team performance, we were able to master the challenges that supply bottlenecks and delays in the supply chain pose to our industry."
Bike24 reported that sales in Germany accounted for 58% of its revenues. Austria and Switzerland provided 10% and the rest of Europe provided 24%. Other countries provided 8%.
The company said it is looking to increase sales in southern Europe and is looking for a suitable warehouse in Spain.
The retailer's stock is traded on the Frankfurt exchange under the BIKE symbol. Quote from the Frankfurt exchange.
