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THE BIZNOB – Global Business & Financial News – A Business Journal – Focus On Business Leaders, Technology – Enterpeneurship – Finance – Economy – Politics & LifestyleTHE BIZNOB – Global Business & Financial News – A Business Journal – Focus On Business Leaders, Technology – Enterpeneurship – Finance – Economy – Politics & Lifestyle

Technology

Technology

Poland’s Allegro sees higher holiday-quarter earnings after Q3 core profit beat

The Allegro website is displayed in this illustration taken October 12, 2020. REUTERS/Dado Ruvic/Illustration/File Photo
The Allegro website is displayed in this illustration taken October 12, 2020. REUTERS/Dado Ruvic/Ill... The Allegro website is displayed in this illustration taken October 12, 2020. REUTERS/Dado Ruvic/Illustration/File Photo
The Allegro website is displayed in this illustration taken October 12, 2020. REUTERS/Dado Ruvic/Illustration/File Photo
The Allegro website is displayed in this illustration taken October 12, 2020. REUTERS/Dado Ruvic/Ill... The Allegro website is displayed in this illustration taken October 12, 2020. REUTERS/Dado Ruvic/Illustration/File Photo

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After reporting a core profit for the third quarter that was higher than anticipated, Poland’s largest e-commerce platform, Allegro (ALEP.WA), stated on Thursday that it expects earnings to climb between 20% and 23% year-on-year in Poland during the critical Christmas season.

Allegro’s adjusted profits before interest, taxes, depreciation, and amortization (EBITDA) rose by 32.4% to 778 million zlotys ($191.7 million), higher than the 760 million zlotys that the company thought it would make based on a consensus.

According to CEO Roy Perticucci’s statement in a news release, “Polish consumers are clearly spending less on big-ticket items, but they are spending more overall on Allegro than they did a year ago.”

After opening its marketplace in the Czech Republic this year, Perticucci noted that Allegro was working on launches in Slovakia, Hungary, Slovenia, and Croatia for next year. These launches are scheduled to take place in 2019.

Gross merchandise value, or GMV, is used in the retail business to evaluate the number of transactions. During the year under review, GMV in Poland increased by 10.5%, reaching 13.3 billion zlotys.

The firm has stated that it anticipates a GMV growth of 9 and 11% in the fourth quarter. According to the report, the number of active purchasers in Poland increased in the sixth quarter, reaching 14.5 million.

After experiencing a decrease in revenue at the tail end of the previous quarter, Allegro, widely regarded as Poland’s premier online shopping platform, said that its domestic operations returned to low double-digit growth in the early weeks of the fourth quarter.

In addition, it mentioned that their Black Week campaign had gotten off to a “solid start.”


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