Bike24 Holding AG preliminary results for fiscal year 2023

Bike24 Holding AG has published its preliminary financial results for the fiscal year 2023 and the fourth quarter of the same year. According to these preliminary calculations, the company recorded a decrease in revenue of 13.5% and an adjusted EBITDA margin of -1.3% at group level for the full year.

In detail, the fourth quarter saw a more pronounced drop in revenues of 21.8% compared to the previous year and an adjusted EBITDA margin of -7.0%. These results are mainly attributed to an increase in inventory depreciation, going from 2.8 million euros at the end of 2022 to 5.0 million euros at the end of 2023, notably impacting the last fiscal quarter.

Faced with these results and with regard to the medium-term outlook, the board of directors anticipates a depreciation of goodwill estimated at between 56 and 64 million euros. Final figures for fiscal year 2023 will be released when the annual report is presented on March 22, 2024.