Robust Growth in Commerce & Ventures Segment
Commerce & Ventures segment experienced an 11% revenue increase in Q1 2025, primarily driven by the Beauty & Lifestyle vertical, particularly flaconi, which outperformed expectations and improved its EBITDA margin significantly.
Joyn's Significant Growth
Joyn streaming platform revenues grew by 39% in Q1, with user reach expanding to 8.3 million and video viewtime increasing by 48%. This growth highlights Joyn's increasing contribution to the company's digital presence.
Flaconi's Market Performance
Flaconi achieved double-digit revenue growth and significant market share increase, outperforming the German online beauty market which grew by just 1%. Its profitability was enhanced through operational excellence and marketing efficiencies.
Debt Reduction and Financial Leverage
Group's net financial debt was reduced by €124 million to €1,429 million, partly due to the sale of Verivox. The financial leverage ratio was improved to 2.7 times, within the expected range for 2025.