The Platform Group (TPG) Status Update summary

Strategic Developments, Acquisitions, and Organizational Structure

• Expanded into B2B construction platforms, launched a new construction materials segment, and acquired Joli Closet, adding 220,000 vintage luxury products and expanding into France, Italy, the Netherlands, and the US.

• Entered the optics and hearing market with My Glasses, targeting €55–60 million in revenues and 60–70 stores by 2026, and launched the "Optics & Hearing" segment in July 2025.

• Opened a centralized 12,000 sqm fulfillment center in Gladbeck, Germany, to enhance partner services and operational efficiency.

• Legal restructuring to SE & Co. KGA planned for May/August 2025, maintaining Benner Holding as a long-term shareholder.

• Leadership team includes CEO, CFO, COO, CPO, CTO, CHO, and CPM, overseeing segments such as Optics & Hearing, Consumer Goods, Freight Goods, Industrial Goods, and Service & Retail Goods.

Financial Performance, Growth Drivers, and Outlook

• Q2 2025 GMV rose 87% to €356 million; net revenues up nearly 50% to €160.8 million; net profit from continued operations up 41% to €18.2 million.

• Adjusted EBITDA increased 87% to €15.9 million; earnings per share grew from €0.65 to €0.90; cash at period end at €21.3 million.

• Active customers reached 5.7 million, average order value increased to €125, and partner count grew to 15,348.

• Seven acquisitions completed in H1 2025, with 2–4 more expected in H2; organic growth and increased retailer participation exceeded expectations.

• Over 20% increase in number of products on platforms anticipated, with net profit for 2025 expected to be significantly higher than previous year.

Updated Guidance and Medium-term Targets

• 2025 revenue guidance raised to €715–735 million, EBITDA in the high €50 millions, GMV around €1.3 billion, and partner count expected to reach 16,500.

• 2026 revenue guidance increased to at least €860 million, EBITDA margin target raised to 7.5–10%, aiming for €65 million EBITDA, and GMV at €1.6 billion.

• Industry coverage projected to expand to 35 by 2026, with partner count to exceed 18,000.

• Continued focus on balanced organic and inorganic growth, leveraging attractive M&A valuations and integrating profitable acquisitions.

• Number of acquisitions expected to increase in H2 2025.