Coolblue 6 million euros in the red
Dutch electronics store Coolblue made a profit loss of 6,2 million euros in 2022. This is a stark contrast with profits of over 39 million euros the year before. The company generated 2,35 billion euros of revenue. a small year-on-year growth of 0,6 percent.
Coolblue published their annual numbers for 2022. The omnichannel retailer is one of the biggest ecommerce players in the Netherlands, also operating in Belgium and Germany.
0,6 percent growth, mostly in Germany
In 2022, Coolblue generated a revenue of 2,35 billion euros. That is a small growth of 0,6 percent compared to 2,34 billion euros of revenue the year before. This is mostly thanks to the German market. Here, revenues increased by as much as 85 percent, totalling at 174 million euros. In contrast, operations in the Netherlands and Belgium saw revenues lower with 3 percent.
In Germany, revenues increased by 85 percent.
‘EBITDA not enough to compensate costs’
While Coolblue generated profits over 39 million euros in 2021, this year, the retailer is 6,2 million euros in the red. Coolblue’s earnings before interest come down to 43,4 million euros. That is more than 50 percent lower compared to 2021’s EBITDA of 88,6 million euros.
“Our EBITDA was positive,” Coolblue writes on their company website, “but not enough to compensate for the increased costs and margin pressure. This means there is work to be done.”
“Our EBITDA was positive, but not enough.”
5 new stores in 2023
According to Coolblue, the retailer has invested in new stores, mechanization of the warehouse, software development as well as the company’s white goods and energy branches. The annual numbers for 2022 are in stark contrast with the company’s growth in the past few years. In 2023, Coolblue is planning to open 5 new stores and launch an improved store concept.