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Heureka Group Financial Results

30. 11. 2021 | Adéla Berková

The group that includes price comparison websites in nine European countries reported earnings before interest, taxes, depreciation, and amortization (EBITDA)* of €29.9 million (CZK 795 million) in the past fiscal year, which represents nearly 32% year-on-year growth. Revenue jumped 35% to €70 million (CZK 1.9 billion) from the previous year’s €54 million (CZK 1.4 billion) Heureka Group, which operates in nine Central and Eastern European markets, is the largest European price comparison and shopping advice website in Europe, with 23 million users per month and offering goods from more than 55,000 e‑shops. It also strengthened its position on all the markets where it’s active during the fiscal year ending March 31, 2021, thanks to the massive growth in e‑commerce in general.

Besides product innovations in key categories, the growth was also the result of intense work on international content, improvements to data products across Europe, and specific acquisitions. The coronavirus pandemic also boosted the e‑commerce sector, especially government regulations that practically halted traditional brick-and-mortar retail sales for a couple of months. „The grand majority of the shopping public went online, which caused a reaction from brick-and-mortar retailers who were forced to flip into the online environment where possible,“ Heureka Group CEO Tomáš Braverman said.

„The grand majority of the shopping public went online, which caused a reaction from brick-and-mortar retailers who were forced to flip into the online environment where possible,“

Tomáš Braverman, CEO Heureka Group

Heureka’s responsive website was completed last year, fulfilling the needs of even the most demanding users and e‑shops. We’re also constantly continuing work to unite three platforms and catalogues to build the largest European online marketplace. „One of the harbingers of our coming marketplace that can be seen on the frontend and is thus visible for users in all Heureka Group’s countries are automatically translated product reviews, a million of which have been added to our website. That is another great tool for our customers when making their shopping decisions,“ Heureka Group CEO Tomáš Braverman said.

As a result of high interest costs from bonds issued and loans taken, the group reported a loss of CZK 241 million last fiscal year, a third of the CZK 658 million shortfall in the previous period.

* Calculated using the „Adjusted EBITDA“ definition listed in the bond issue conditions.

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