Allegro lowered 2022 forecast, shares down 5%

Shares in e-commerce platform Allegro fell on Thursday morning by about 5.5% after the company cut its forecast for 2022 both for the entire group and for operations in Poland. The group cut the adjusted EBITDA growth forecast to 2-6% from the previously expected 4-11%. In Poland, Allegro now sees adjusted EBITDA growth of 10-12% instead of 10-15% expected previously.

The group also said that its medium-term expectations are being revised to reflect the changing business environment. The mid-term forecasts for Allegro, updated in February, assumed an average annual increase in the value of sold products (GMV) of more than 20% in the years 2022-2026. 

“Our medium-term expectations so far were released on the day when Russia invaded Ukraine and the environment turned out to be more uncertain,” CFO Jon Eastick said in a statement.

(ISB News)