windeln.de reports a drop in sales from EUR 17.2 million to EUR 14.9 million in the first quarter of 2020. In contrast, the company was able to improve its operating result: before interest and taxes, windeln.de reduced the loss from EUR 3.0 million to EUR 2.4 million. The cash outflow was reduced in the first quarter, which, including the Bebitus activities to be sold, fell from EUR 5.3 million to EUR 1.9 million – the background to this was the improvement in the operating result and the reduction in net working capital, so windeln.de.
The total funds at the end of March 2020 are estimated at 11.7 million euros after the recent capital increase. “The Group’s total cash and cash equivalents were lower at EUR 9.1 million as of April 30 due to the build-up of inventories (net current assets). Such a build-up will continue to be required to drive sales generation in China. Sales through the customs warehouses in China in particular lead to long cash conversion cycles, ”the company said about the liquidity situation.
The company’s goal remains to be in the black in the first quarter of 2020 based on adjusted earnings before interest and taxes. In April, sales of EUR 15.3 million were achieved – the increase is due, among other things, to the sale of health products to business customers. In addition, there are high other sales and a VAT refund in China.
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