The Platform Group has delivered strong results for 9M25. GMV grew by c 48%, revenue by c 43% and adjusted EBITDA by c 86%, indicating a good improvement in the margin to 8.6%. All of the KPIs are pointing in the right direction: number of partners + c23%, number of orders +49%, average order value +3%, number of active customers +49%. From a cost perspective, there was positive operational gearing on marketing and personnel costs, which compounded the 1.3pp increase in the gross margin to 36.7%.
Management has reiterated its financial guidance, which was recently increased.
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