Elumeo SE Maintains Profitability Amid Market Challenges in H1/2024

elumeo SE, a leading electronic gemstone jewelry retailer in Europe, has reported a slight sales growth of 0.8% to EUR 22.5 million in the first half of 2024, maintaining profitability despite market challenges. The company's adjusted EBITDA rose to EUR 326 thousand, marking an increase of 297.6% from the previous year's H1 figure of EUR 82 thousand.

In Q2/2024, sales declined by 3.1% to EUR 11.2 million, attributed to a downturn in consumer sentiment. However, June 2024 saw a 7% sales increase compared to June 2023. The adjusted EBITDA for Q2 remained positive at EUR 0.2 million.

Cost management efforts led to a 3% reduction in costs to EUR 12.1 million, with additional measures of EUR 1.2 million to be fully realized in H2/2024. The company also achieved a break-even for its international AI-driven automatic translation of sales shows, launched two months prior.

The 2024 forecast anticipates mid-single-digit sales growth of 4% to 8% and an increase in adjusted EBITDA to between EUR 1.5 million and EUR 3.5 million, with a gross profit margin of 49% to 51%.