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Edge16 Oct 2026
Winner, Winner: The Chicken McNugget Story
How a 1940s breeding contest, a Cornell food scientist, and a hedge by Ray Dalio helped McDonald's turn the Chicken McNugget into a fast-food icon.
Westwing Group
Westwing Group (WEW) investor relations material
Westwing Group Q3 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2026 earnings summary5 Nov, 2026
Executive summary
Q3 revenue rose 12.5% YoY to €111.4m and GMV increased 7% to €123m, marking a fifth consecutive growth quarter.
Adjusted EBITDA increased 7.1% YoY to €6.5m, while its margin declined 0.3pp to 5.8%; logistics costs and UK ramp-up weighed on contribution margin.
Financial highlights
Q3 net income was €4.6m versus a €3.8m loss YoY; operating result was €4.7m versus a €3.9m loss.
9M revenue rose 12.6% to €344.6m; adjusted EBITDA was €21.5m versus €21.4m.
Q3 free cash flow was -€0.7m versus €10.4m; 9M free cash flow was -€12.1m, including €10.1m of stock-option settlements.
Outlook and guidance
FY2026 revenue guidance remains €470m–€495m, with revenue expected in the upper half; adjusted EBITDA guidance remains €36m–€48m, equivalent to a 7.7%–9.7% margin.
Selective price increases, higher shipping fees and logistics efficiency measures showed tangible margin improvement in October; full impact is expected in Q4.
Phase III targets adjusted EBITDA margin above 10% through efficiency, core and adjacent growth, and financial levers.
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Latest events from Westwing Group
- Turnaround delivered: €17.8m adjusted EBITDA, €30m free cash flow and €82m net cash.WEW
Q4 2023 - Q2 2026 revenue up 14% year-over-year, with margin pressure and strong cash position.WEWH1 2026
- Q1 2026 revenue up 11% to EUR 120m, with expansion and macro risks impacting margins.WEWQ1 2026
- Adjusted EBITDA up 84% to €44m; 2026 targets 5–10% revenue growth amid macro headwinds.WEWQ4 2025
- Adjusted EBITDA up 61% and premium collection at 65% GMV, despite lower sales.WEWQ2 2025
- Q3 2024 saw revenue and margin growth, with DACH outperforming a declining market.WEWQ3 2024
- Q2 2024 saw 4% revenue growth, margin gains, and 53% Westwing Collection GMV share.WEWQ2 2024
- Profitability improved with an 8.5% margin despite a 1.1% revenue drop and market headwinds.WEWQ1 2025
- 2024 saw revenue and profitability at the upper end of guidance, with strong cash flow and a premium shift.WEWQ4 2024
Westwing Group
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Frequently asked questions
Westwing Group SE operates an e-commerce platform offering home and living products including furniture, décor, lighting, and textiles. The company targets design-conscious consumers in European markets through online sales, private label offerings, and curated inspiration content. The company is headquartered in Munich, Germany, and its shares are listed on the XETRA.