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Sparks commentary - The Platform Group

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Sparks - The Platform Group

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The Platform Group (FRA: TPG) – Strong growth in Q324
Published by Russell Pointon

The Platform Group has reported strong Q324 numbers, with high revenue growth and an impressive increase in profitability versus the comparative period. In Q324, gross merchandise volume increased by c 63%, revenue by 44% and adjusted EBITDA by almost fivefold.

The growth has been fuelled by the acquisitions made this year. While the number of business partners continued its upward trajectory, increasing by 11% in 9M24, there was also good growth in a number of KPIs, with number of orders increasing by 59% (in Q324), average order value increased by c 5% (9M24) and active customers increased by c 16% (9M24).

The adjusted EBITDA margin of 5% in Q324 was a good increase from the comparative period’s c 1% but was below the over 7% margin in reported in H124, which reflects the seasonality of the cost base.

Following the increase in management’s guidance at the end of September, there has been no further change today.

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