Elumeo SE Releases Preliminary 2023 Financial Figures

Elumeo SE, a prominent gemstone jewelry e-retailer based in Berlin, disclosed its preliminary consolidated financial results for 2023. The report highlighted revenue stability, a sharp increase in web channel sales, and a decrease in adjusted EBITDA from the previous year.

The company reported maintaining its revenue at €45.4 million, which is nearly identical to the €45.8 million from 2022. Despite steady overall revenue, elumeo faced a significant decrease in adjusted EBITDA, falling from €2.2 million in 2022 to €-0.4 million in 2023. The company attributes this decline primarily to investments aimed at expanding the TV and Web distribution channels and an inflation-induced drop in gross profit margins.

Significantly, revenue from elumeo’s web distribution channel rose by 8.4% to €14.5 million, driven by increased sales and heightened marketing efforts in the fourth quarter. This growth outstripped the company’s initial projections for the channel.