Vente-unique.com stands out with another year of strong growth

13 Nov 2024 07:30 CET

• Record annual gross merchandise volume of €233.2m, up 15.6% year-on-year;
• Revenues of €178.7m (+10.1%), in line with the Group's historic double-digit growth trajectory and in line with the announced target;
• Another financial year of profitable growth, as promised, with an adjusted annual EBITDA^[1] margin expected to remain exemplary at over 10%.

Paris, 13 November 2024. The Vente-unique.com Group, an expert in online sales of furniture and home furnishings in Europe, announces its unaudited revenues figures for the 4th quarter (period from 1 July 2024 to 30 September 2024) and the 2023-2024 financial year (period from 1 October 2023 to 30 September 2024).

In a still sluggish environment for household consumption, particularly in France, and despite a demanding base effect (growth in gross merchandise volume close to +30% and revenues of over +20% in Q4 2022-2023), Vente-unique.com once again managed to maintain solid growth in Q4 2023-2024. Gross merchandise volume rose by +10.0% to €60.7 million and revenues came to €46.1 million, up +6.4% compared to the 4th quarter 2022-2023.

Following growth of 18.2% in the previous financial year, gross merchandise volume rose by a further 15.6% to €233.1m. Revenues also enjoyed solid growth, reaching €178.7m (up 10.1% on 2022-2023), in line with the annual target of double-digit growth.

This performance is all the more remarkable given that it has been achieved in a furniture market that is experiencing a cyclical downturn (-5.8% in France over the 2023-2024 financial year to the end of September^[5]). Vente-unique.com has thus succeeded in gaining market share, thanks to the excellent positioning of the products on offer, the dynamism of the marketplace and the recognised quality of its customer service.

Logistics revenues are naturally down as a result of the default of the former main external customer for this business (€1.5m in 2024 compared with €6.6m in 2023). Restated for this customer, the business is growing strongly (€1.1m in 2024 compared with €0.1m in 2023). As announced, the Group has succeeded in convincing new partners for this strategic business, which enables it to offer a unique global service to marketplace customers. Vente-unique.com has also announced that it has signed a contract with a new customer for its logistics activities, which will occupy around 6,500 m², or 8% of the capacity of its Amblainville platform, from 1 January 2025.

Growth in all geographical segments

E-commerce revenues, which include commissions generated by the marketplace, continued to grow in all regions in the 4th quarter of 2023-2024, with continued solid momentum in Northern and Eastern Europe (+13.2%) and a remarkable performance in Southern Europe (+27.9%). Lastly, France (+0.4%) remains stable in a bearish environment for furniture spending.

The Group's growth was again driven by the marketplace, which continues to enjoy growing success in the 8 countries where it is deployed. In fact, its share of gross merchandise volume rose by almost 5 percentage points over the year. In particular, growth has been steady in France (almost 17% of e-commerce revenues in September 2024, compared with around 14% in September 2023), and has been remarkable in the Netherlands and Portugal, just six months after opening in these countries. The marketplace, which forms the basis of the Group's virtuous business model, has thus confirmed its role as a growth driver, offering customers a broader range of products and services to suit all budgets.

Another year of profitable growth

As it has done every year since its creation and in line with its commitments, Vente-unique.com has achieved another year of profitable growth. Despite a less favourable economic climate in the second half of the year and investments made to build customer loyalty and win over new customers, the Group expects to achieve a solid and exemplary adjusted EBITDA¹ margin for the financial year ending 30 September 2024, around that of the previous year (10.7%).

During the year, the Group also recorded controlled one-off costs (€0.8m) relating to the relaunch of Habitat (see below).

Investments for the future

During the year, Vente-unique.com continued to invest strategically in customer satisfaction in order to continue to deliver growth and profitability in the future.

On the commercial front, in addition to the ongoing development of the marketplace, the financial year was marked by the takeover of the iconic Habitat brand. The relaunch of this flagship of the European home furnishings sector, a forerunner in accessible premium, began this autumn with the unveiling of the first items in the new collection.

On the logistics front, Vente-unique.com has announced the construction of a second 62,000 m² logistics platform under a lease in future state of completion (BEFA). This major new logistics site will enable the Group to support the expected growth in its logistics flows and double its current capacity by 2026 without having to invest in the building (excluding building improvements).

Next publication: FY 2023-2024 results, 14 January 2025

For more information: bourse.vente-unique.com

About Vente-unique.com

Created in 2006, Vente-unique.com (Euronext Growth - ALVU), a subsidiary of the CAFOM Group (Euronext - CAFO), is an expert in online revenues of furniture and home furnishings in Europe. The company covers 11 countries (France, Germany, Austria, Belgium, Spain, Italy, Luxembourg, the Netherlands, Poland, Portugal and Switzerland) and has supplied over 2.5 million customers since its launch.

[1] Adjusted EBITDA = earnings before interest, tax, depreciation and amortisation + valuation of bonus shares

[2] Gross value, including taxes, of products and services sold, including direct product sales recognised at the date of shipment, marketplace sales recognised at the order confirmation date and other invoiced services and revenues

[3] Direct product sales + marketplace fees

[4] BtoB logistics services invoiced by the new subsidiary resulting from the acquisition of the Distri Service business on 1 October 2022

[5] According to the September 2024 IPEA News published by IPEA (Institut de prospective et d'études de l'ameublement)

[6] Direct product sales + marketplace fees

[7] Austria + Belgium + Germany + Luxembourg + Netherlands + Poland + Switzerland

[8] Italy + Portugal + Spain

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