The Platform Group reports 22 percent sales growth

In the first nine months, the Platform Group (TPG) reported consolidated pro forma GMV increased by 21.6 percent to 469.3 million euros and pro forma sales increased by 22 percent to 284.5 million euros.

Commenting on the trading results, Dominik Benner, CEO of TPG said: “We are very satisfied with the development in the first nine months. We are investing more in software development, consistently increasing the B2B share and see ourselves on the right path to achieving our medium-term strategy: 30 industries, an EBITDA margin of 7-10 percent and a GMV of at least 1 billion euros.”

The company said in a release that the main drivers of the growth were the increase in the number of partners and a significantly higher number of customers across all platforms. The number of partners on the platforms increased by 23 percent and the number of active customers increased by 18 percent to 3.3 million.

TPG was able to increase its consolidated, adjusted pro forma EBITDA by 37 percent to 14.5 million euros, while the adjusted EBITDA margin increased to 5.1 percent compared to the same period last year.

The company confirms its forecast for the consolidated pro forma figures for the 2023 financial year and continues to expect GMV of 700 million euros, sales revenue of 440 million euros and adjusted EBITDA of 20 million euros for the continuing operations.