elumeo SE: elumeo SE publishes its Consolidated Financial Statements for 2018
elumeo SE publishes its Consolidated Financial Statements for 2018
- Clearly positive earnings development expected for financial year 2019
- No significant changes compared with the previously published preliminary and unaudited Group figures for financial year 2018
Berlin, 10 June 2019 - elumeo SE, the leading electronic retailer for gemstone jewelry in Europe, published its 2018 Consolidated Financial Statements today.
In total, there were no significant changes in the results of the preliminary publication on 29 April 2019. Besides a few shifts in classifications, an agreement with broadcasting range partners reached after 29 April 2019 led to the reversal of provisions and thus to a slight improvement in the results.
Total segment EBITDA (adjusted for one-time effects) for continuing operations now amounts to EUR -10.3 million (previous year: EUR -6.0 million). The overall Group result declined from EUR -7.3 million to EUR -25.5 million. Extensive provisions formed in connection with the decision to liquidate the Group's own manufactory, mainly for reasons of prudence, made a significant contribution to this development.
elumeo SE anticipates a clearly positive development of earnings in financial year 2019 due to the change in product procurement and the cost-cutting measures introduced and expects a steady improvement in total segment EBITDA over the course of the year.
The complete Annual Report for 2018 is available for download on the company's website http://www.elumeo.com in the Investor Relations/Financial Reports section.
About elumeo SE:
The elumeo Group, headquartered in Berlin, is the leading European Company in the electronic distribution of high-quality gemstone jewelry, most of which is produced in India and Thailand. Via a variety of electronic distribution channels, such as TV, the Internet, Smart TV and Smartphone apps, the listed Company offers its European customers coloured gemstone jewelry in particular at comparatively low prices. Most of the products are sold through direct sales. For example, the elumeo Group operates home shopping television channels in Germany and Italy as well as web shops in Germany, the UK, Italy, France, the Netherlands, Spain, Belgium and the US.
Erkelenzdamm 59/61, 10999 Berlin
Phone: +49 30 69 59 79-231
Fax: +49 30 69 59 79-650
10.06.2019 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.The issuer is solely responsible for the content of this announcement.The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.dgap.deLanguage: English Company: elumeo SE Erkelenzdamm 59/61, Portal 3b 10999 Berlin
Germany Phone: +49 30 69 59 79-0 Fax: +49 30 69 59 79-20 E-mail: email@example.com Internet: www.elumeo.com ISIN: DE000A11Q059 WKN: A11Q05 Listed: Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart EQS News ID: 822075 End of News DGAP News Service