The Platform Group news and archive

The Platform Group acquires majority stake in FirstWire

The Düsseldorf-based e-commerce group The Platform Group AG is expanding its extensive portfolio to include a financial platform. On Monday, the group announced that it had acquired 50.1 percent of the activities of Cologne-based FirstWire GmbH. The company, founded in 2015, operates Firstwire, a "digital platform for B2B financing solutions"...

Business

The Platform Group maintains GMV, sales and profit growth outlook

The Platform Group achieved a gross merchandise volume (GMV) of 608.4 million euros for the nine month period and generated sales of 371.2 million euros, up against the same period of 2023. The company attributed the above increase to the growth of the connected partners to 12,981 and the expansion of the platform and software solutions to 23...

Business

The Platform Group raises full year sales and GMV outlook

The Platform Group has increased the forecast driven by the successful business development in the first half period, the acquisitions so far in 2024, the strong organic growth and the increased number of partners. The company now expects gross merchandise volume (GMV) to increase to 880 million euros to 900 million euros and net sales to...

Business

The Platform Group achieves strong H1 results

The Platform Group (TPG) achieved a gross merchandise volume of 442.5 million euros and generated sales of 231.5 million euros. The company’s adjusted EBITDA rose to 17.6 million euros, an increase of 33 percent compared to the same period last year. Reported EBITDA reached 30 million euros and consolidated net income increased to 21.7 million...

Business

The Platform Group raises forecast on strong Q1

The Platform Group (TPG), a software company for platform solutions, achieved first quarter gross merchandise volume of 190.6 million euros and generated sales of 107.9 million euros, a substantial increase over the prior year. The company attributed an increase in GMV and sales to the growth of the number of connected partners to 11,987 and the...

Business

The Platform Group acquires the OEGE Group

The Platform Group (TPG), a software company for platform solutions, will become the majority shareholder of the OEGE Group as of June 2024. The company, based in Lünen (North Rhine-Westphalia), exclusively serves B2B customers in ecommerce with branded goods. The products are sold via the company's own B2B shops and platform solutions with a...

Business

The Platform Group achieves sales and profit above forecast

The Platform Group said that pro forma gross merchandise volume (GMV) increased to 705 million euros compared to 2022 GMV of 591 million euros and forecasted 2023 GMV of 700 million euros. Pro forma net sales reached 440.8 million euros versus forecast of 440 million euros. The company added that adjusted EBITDA improved to 22.6 million euros...

The Platform Group increases stake in ApoNow

The Platform Group has increased its majority stake in ApoNow from 50.1 percent to 80 percent. ApoNow, based in Wetter, Ruhr, is a platform for pharmaceutical manufacturers and pharmacies in Germany, Austria and Italy. Currently, over 300 pharmaceutical manufacturers are connected to the platform, through which 41,500 pharmacies place orders and...

Business

The Platform Group acquires Hood Media

The Platform Group (TPG), a software company for platform solutions has announced the full takeover of Hood Media. Hood, the Cologne-based company, founded in 1999, is one of the 10 largest marketplaces in Germany through its Hood.de platform with more than 4,900 active dealers in over 20 product categories. Commenting on the acquisition,...

Business

The Platform Group forecasts upbeat 2024 sales and profit

The Platform Group (TPG) expects the consolidated gross merchandise volume (GMV) to increase between 760 million euros to 800 million euros in 2024. Consolidated net sales are expected to increase in the range of 460 euros to 470 million euros and consolidated adjusted EBITDA in the range of 24 euros to 28 million euros. The company said in a...

Business

The Platform Group acquires 7.6 percent stake in Mister Spex

The Platform Group has acquired a 7.6 percent stake in European omni-channel optician Mister Spex as part of a share swap. Founded in 2007, Mister Spex, with more than 7.1 million customers, is present in 10 online shops across Europe and physical retail stores. In the third quarter of 2023, the company recorded a revenue growth of 2 percent and...

Business

The Platform Group acquires 100 percent stake in German furniture company

The Platform Group is acquiring the outstanding shares of Möbelfirst, one of the leading platforms for luxury furniture in German-speaking countries. Commenting on the transaction, Dominik Benner, CEO of The Platform Group said: “Möbelfirst has developed very well as a platform, has always been profitable and now has shopping carts averaging...