E-Shopping Group, a company listed on the NewConnect market, has shown impressive growth in the first half of 2024. The company reported a significant increase in net sales revenue to 1.5 million PLN compared to 0.2 million PLN in the same period in 2023, marking a six-fold year-on-year growth. In the second quarter of this year alone, E-Shopping Group achieved nearly 0.8 million PLN in net sales revenue, which was over four times higher than the revenue generated in the second quarter of 2023.
The company, which owns 7 online stores and its own brand Bentivolio, has been steadily increasing its sales revenue and expanding its customer base. This bodes well for its future prospects. Maciej Nowak, the CEO of E-Shopping Group, expressed optimism about the company’s growth trajectory, stating that they plan to continue the rapid development of their online stores and the Bentivolio brand, which boasts an average margin of 70%. Negotiations are also underway for key agreements that will enable even more dynamic revenue growth in the second half of the year. Additionally, discussions with an investor who supports the realization of their ambitious goals are ongoing. Plans for expansion into new business areas are also on the horizon.
By the end of the reporting period, the company increased its equity to 0.49 million PLN (compared to 0.16 million PLN at the end of June 2023) and saw its assets grow to 1.11 million PLN (compared to 0.69 million PLN at the end of the first half of the previous year).
Despite the growth in revenue mentioned above, E-Shopping Group incurred a loss of 0.15 million PLN in the second quarter of 2024, which was comparable to the loss in the second quarter of 2023. Dariusz Wais, the Chairman of the Supervisory Board at E-Shopping Group SA, emphasized the company’s goal of achieving profitability and increasing sales results in the upcoming reporting periods. He expressed confidence that their current actions will yield positive results in the following quarters.
E-Shopping Group operates in the Polish market and is expanding internationally, offering products sold in a flexible dropshipping model. The company conducts sales in the Czech Republic and Slovakia, with plans to enter the markets in Romania and the Middle East soon. Its long-term goal is to build a multibrand hub in the global online sales segment while simultaneously expanding its portfolio of own brands.
In conclusion, E-Shopping Group’s performance in the first half of 2024 reflects its commitment to growth and innovation in the e-commerce sector. With a strong focus on expanding its online presence and developing new markets, the company is poised for continued success in the future.