The Platform Group AG: Expansion of the platform strategy at ViveLaCar, completion of the Cluno migration

The Platform Group AG: Expansion of the platform strategy at ViveLaCar, completion of the Cluno migration

Düsseldorf, 1 October 2024. The Platform Group AG (ISIN DE000A2QEFA1, „TPG“), a leading software company for platform solutions, realized the expansion of its platform strategy at its consolidated subsidiary ViveLaCar in the third quarter. For the first time, a new partner concept was used to include leased vehicles from car dealers in order to actively market lease returns in the subscription solutions market. In addition, vehicles from the rental sector were included for the first time, a market that was previously not active in the subscription solutions segment. As a result, the range of available models was increased to over 1,000 variants.

Sara Bay, Managing Director at ViveLaCar: “We are the provider with the largest offering in the subscription sector in Germany. Our platform strategy is paying off and we are constantly gaining new B2B partners. This allows us to significantly expand our position in the market and add value for our car dealers with our asset-light model.”

The B2B customer segment now accounts for more than 60% of ViveLaCar's customers. Companies in particular use the ViveLaCar service to book vehicles for project staff at short notice; the average subscription period is currently nine months.

In addition to the expansion of the platform strategy, the migration of the Cluno Group was completed. The Cluno Group was acquired from the British Cazoo Group in 2023 and the acquired vehicles were successfully marketed in 2023 and 2024. The decision to sell the remaining Cluno companies was executed in June 2024, the purchase agreement was implemented in September 2024 and the closing was also completed. Accordingly, the companies Cluno GmbH and the affiliated subsidiaries CSS Fintech GmbH, Cluno FinTech 1 GmbH and Cluno Fintech 2 GmbH were deconsolidated.

Sara Bay, Managing Director at ViveLaCar: “We were able to successfully complete the migration of Cluno customers to ViveLaCar, clean up the inventory, and complete the technical migration. The sale of the remaining companies marks the end of the transaction for us.”

The Platform Group AG:

The Platform Group AG is a software company that is active in 23 sectors with its own platform solutions. Its customers include both B2B and B2C customers in sectors such as furniture retail, machinery retail, dental technology, car platforms, and luxury fashion. The Group has 16 locations across Europe and is headquartered in Düsseldorf. Over 25 investments and company acquisitions have been made since 2020. In 2023, pro-forma sales of EUR 441 million and an operating result (adjusted EBITDA) of EUR 22.6 million were realized.

Contact:

Investor Relations
Reinhard Hetkamp, CFO and Head of IR
ir@the-platform-group.com
Schloss Elbroich | Am Falder 4 | 40589 Düsseldorf | Germany
corporate.the-platform-group.com