The Platform Group achieves strong H1 results

The Platform Group (TPG) achieved a gross merchandise volume of 442.5 million euros and generated sales of 231.5 million euros.

The company’s adjusted EBITDA rose to 17.6 million euros, an increase of 33 percent compared to the same period last year. Reported EBITDA reached 30 million euros and consolidated net income increased to 21.7 million euros, corresponding to earnings per share of 1.09 euros, an increase of 33 percent.

Commenting on the company’s performance, Dr. Dominik Benner, CEO of The Platform Group AG said in a release: "Our results in the first half of the year show that we are well on the way to achieving the already increased forecast for the full year 2024. The communicated medium-term goal of operating our platform solutions in 30 industries and profitably implementing a GMV of 1.1 billion euros is absolutely realistic for 2025."

For the year ahead, TPG expects GMV to increase to between 840 million euros and 870 million euros and net sales to increase to between 480 million euros and 500 million euros. Due to the positive earnings development and the impact of the implemented cost and efficiency program, the company’s management board expects a further increase in adjusted EBITDA to between 26 million euros and 30 million euros for the 2024 financial year.

The company made four acquisitions in the first half of 2024, two of which were consolidated in the reporting period.

The Platform Group’s medium-term goal is to achieve a GMV of 1.1 billion euros and to increase the operating margin to 7 to 10 percent by 2025 from 5.1 percent reported in the 2023 financial year.