Company Announcement No. 72 - 2024
OrderYOYO A/S
Inside Information
Highlights
Business continues to perform strongly and above guidance. Highly focused strategy solving digital challenges for our
Q1 2024 results show a significant higher growth in ARR and Net Revenue than prior guidance.
In addition, Q1 2024 EBITDA at
Consequently, we raise ARR, Net Revenue, GMV and EBITDA guidance for 2024
Stronger than anticipated profitability. EBITDA guidance raised to
Financial Highlights
| Consolidated | ||
(DKKm) | Q1 2024 | Q1 2023 | Growth (%) |
Annual Recurring Revenue (ARR - Annualized March MRR) | 300 | 226 | 33% |
GMV (Annualized March GMV) | 2,976 | 2,293 | 30% |
Net Revenue | 73 | 54 | 35% |
EBITDA before other extraordinary items | 10.8 | 2.7 | 300% |
Cash EBITDA | 4.5 | -4.8 | nm% |
** Annualized March ARR of
** Q1 2024 Net revenue of
** Annualized March GMV of
** EBITDA before other external costs for Q1 2024 of
** Positive Cash EBITDA for Q1 2024 of
Consolidated 2024 guidance raised
| 2024 Guidance | |
(DKKm) | Updated | Current |
December Annualized Annual Recurring Revenue | 325-335 | 315-325 |
December Annualized GMV | 3,300-3,400 | 3,100-3,300 |
Net Revenue | 280-290 | 275-285 |
EBITDA before other extraordinary items | 43-48 | 33-38 |
Cash EBITDA | 15-20 | 5-10 |
**
**
** Net revenue 2024 guidance is raised from
** EBITDA before other external costs 2024 guidance is raised from
** Cash EBITDA 2024 guidance is raised from
OrderYOYO consolidation strategy and Path to Profitability Strategy initiated in 2022 is showing results ahead of time
During the period 2018 to 2021 OrderYOYO's main focus was on GMV and ARR growth. In these years OrderYOYO quadrupled ARR. Coming out of Covid OrderYOYO took the strategic decision to implement a more balanced growth strategy with equal focus on profitability. Two main components were expected to drive profitability - operational leverage; i.e., the ability to do more with the same amount of resources, and an active M&A strategy.
OrderYOYO has now been EBITDA profitable since
As European market leader, we keep seeing increased consolidation opportunities in our markets. Our consolidation strategy focuses on two types of acquisition targets:
- Local market leaders in European countries where OrderYOYO is currently not present to expand our European market leading position, and
- Local participants in the markets where OrderYOYO is already market leader to drive economies of scale and increased profitability for the Group
EBITDA guidance was significantly raised at the Q4 2023 current trading announcement (stock announcement number 69). The Q1 2024 EBITDA results shows that increase in profitability is happening at a faster and stronger pace. Guidance for 2024 EBITDA is thus raised to
As we continue our growth, both organically and through consolidation, economies of scale and cost control will increase EBITDA. In addition, acquisitions of local participants in markets where we are already market leader will provide the opportunity to increase profitability through cost savings and efficiency gains.
We are confident that our strategy will result in a continued expansion of our EBITDA margin in the coming years and our long-term EBITDA target is +25%.
In addition to increased profitability, we continue to see strong growth in ARR, GMV and Net Revenue all growing at +30% in Q1 2024. For the full year 2024 growth for ARR, GMV and Net Revenue is thus increased to the 10-15%-level from currently below 10%-level.
Conference call
The Q1 2024 current trading will be presented at an online conference call on
Register for the conference call at:
https://www.inderes.dk/videos/orderyoyo-presentation-of-q1-current-trading-update-2024
For additional information, please contact
OrderYOYO A/S
Mobile (+45) 21 67 84 92
Email jesper.johansen@orderyoyo.com
OrderYOYO A/S Vesterbrogade 149, Building 12, Floor 3, 1620 Copenhagen V
Certified Advisor
Mobile (+45) 31 79 90 00
Grant Thornton Stockholmsgade 45, 2100 Copenhagen Ø
About OrderYOYO
OrderYOYO is the market leading European online ordering, payment, and marketing software solution provider. OrderYOYO's solution is offered as Software-as-a-Service (SaaS) and enables small independent takeaway restaurants to have their own-branded online presence direct to consumers. OrderYOYO helps takeaway restaurants drive online takeaway orders through their own tailored software solution in the individual takeaway restaurant's own brand. We liberate restaurants.
https://news.cision.com/orderyoyo-a-s/r/orderyoyo-a-s-publishes-strong-q1-performance-showing-33--arr-growth-and-ebitda-significantly-higher,c3963499
https://mb.cision.com/Public/20605/3963499/bf738046206f44b6.pdf
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