Finance Stock Exchange
22:34 22 September 2020
Post by: WBJ

Allegro publishes prospectus and boasts profits in H1 2020

Allegro publishes prospectus and boasts profits in H1 2020
Source: Allegro

Allegro's net profit in the first half of 2020 increased to PLN 289.7 million from PLN 195.7 million y/y, the company announced in the prospectus. Allegro's adjusted EBITDA in the first half of 2020 increased by 28 percent, to PLN 808 million from PLN 631 million.

The group's net revenues in the first half of 2020 increased by 50 percent up to PLN 1.77 billion. Allegro forecasts an average annual increase in net revenues in 2019-2021 by approx. 35 percent. Allegro also announced that the increase in net revenues in the medium term is to be slightly higher than the increase in GMV (sales value, i.e. the total gross value of goods and tickets sold on the platforms, and, including VAT).

The published prospectus shows that's public offering will hold 187,826,087 shares, including 163,599,596 existing shares. The price range is PLN 35-43, the company said. The value of Allegro's offer is PLN 6.57-8.07 billion.

Allegro expects a debut on the WSE around October 12. The company expects that immediately after its admission to trading, at least 18.26 percent of the issued share capital will be in free float (assuming no further allocation option is exercised).

The Group's e-commerce platform has a user base of approximately 12.3 million active buyers who have access to the offer of approximately 117,000 companies, thanks to which an average of 32 million transactions are concluded on the platform per month.

Allegro's net revenues in 2019 increased by 31 percent up to PLN 2.39 billion.

(PAP1, PAP2, PAP3)

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