Poland's Allegro raises international outlook after Q1 earnings beat
Allegro's Q1 2024 Financial Performance and Updated Outlook
Q1 Earnings Surpass Expectations
GDANSK, May 14 (Reuters) - Poland's biggest e-commerce platform Allegro raised the 2026 outlook for its international business on Thursday, as its first-quarter earnings beat market expectations.
The group's adjusted earnings before interest, taxes, depreciation and amortization rose 23.6% from a year ago to 931.8 million zlotys ($257.0 million) in the first quarter, beating the median estimate of 849 million zlotys from analysts polled by the company.
International Business Growth Projections
It now expects revenue in the international business to grow between 25% and 35%, up from the March guidance of 20% to 30%. Gross merchandise value (GMV), an industry metric used to measure transaction volumes, is expected to grow by 40% to 45%, compared with 35% to 40% previously.
Revenue and GMV Details
Allegro's revenue grew 16.5% to 2.95 billion zlotys in the first quarter, beating the 2.90 billion zlotys seen by analysts' consensus. In the international segment, revenue fell 10.7% to 134.1 million zlotys.
Gross merchandise value (GMV) rose 12.8% to 17.29 billion zlotys versus market expectations of 16.95 billion zlotys. In the international business, GMV jumped 46.3% to 804 million zlotys.
Performance in the Polish Market
In the key Polish market, adjusted EBITDA rose 18.5% to 1.02 billion zlotys.
Additional Information
($1 = 3.6252 zlotys)
(Reporting by Adrianna Ebert; Editing by Milla Nissi-Prussak)
