The Platform Group AG Sees Significant Growth in First Half of 2024

The Platform Group AG reported notable growth and increased profitability in the first half of 2024. The gross merchandise volume (GMV) grew by 20% to EUR 442.5 million, while net sales increased by 23% to EUR 231.5 million. Adjusted EBITDA from continuing operations rose by 33% to EUR 17.6 million, and reported EBITDA grew by 26% to EUR 30.0 million. The consolidated net profit saw a significant increase of 39% to EUR 18.8 million.

The rise in active customers to 4.8 million and a 3.5% increase in the average shopping basket contributed to this growth. The company successfully executed four acquisitions, expanding its platform and software solutions to 22 sectors. As a result, the number of connected partners rose to 12,547.

The forecast for the full year 2024 is optimistic, with expectations of GMV between EUR 840 million and EUR 870 million, and net sales between EUR 480 million and EUR 500 million. Adjusted EBITDA is projected to be between EUR 26 million and EUR 30 million.