Home24 makes profit for the first time

The online furniture business benefits from closed furniture stores and can present a positive EBITDA. In 2021, the start-up hopes to be able to repeat the success.

Berlin-based furniture start-up Home24 has managed to increase its 2020 turnover by almost 50 percent. 492 million euros in sales last year, Home24 earned a total of 17 million euros before taxes, depreciation, interest, amortization.

The EBITDA margin for the full year was three percent, eleven percentage points higher than in the 2019 financial year. For the first time, the start-up is thus no longer making losses and, according to its own statements, manages to break even. Home24 was able to benefit last year primarily from the closed furniture stores. As a result, more people ordered online

"The capital increase in Europe and the IPO of Mobly in Brazil were further decisive steps: we now have sufficient clout to push our growth ambitions and further expand our strong position in the attractive market environment of home & living e-commerce," says Marc Appelhoff, CEO of Home24. The Brazilian subsidiary Mobly was only placed on the stock exchange last week and most recently brought Home24 revenues of 145 million euros.

The company also sees a positive development for 2021. "The strong order intake laid the foundation for a successful 2020 and will continue to have an impact on the first quarter of 2021," Home24 writes. "The reason for this is that numerous orders from the fourth quarter of 2020 will only be delivered in the new financial year due to currently significantly longer delivery times and will therefore only affect sales." However, the forecast for the current year will not be communicated until the annual report at the end of March.