Coolblue’s revenue grows to 1.48 billion euros
Coolblue has generated total sales of 1.48 billion euros last year, which is an increase of 10 percent compared to the situation one year before. Its adjusted EBITDA increased by 28 percent to 34.5 million euros.
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The record revenue is the result of investments in its own infrastructure, including four new physical stores, CoolblueBikes and the installation service for washing machines, televisions and solar panels.
370 million euros was generated in Belgium
Coolblue shared the numbers in its annual Yearbook. Most of the revenue was generated in the Netherlands: 1.1 billion euros, which is 106 million euros more than in 2018. The remaining 370 million euros (23 million more than in 2018) took place in Belgium, the only other market where Coolblue is active.
“With this growth, we outperformed the market for consumer electronics that increased by 4.7 percent in the Netherlands and by 1.1 percent in Belgium.”
We outperformed the market for consumer electronics.
The net profit increased from 12.1 million euros in 2018 to 15.2 million euros last year. “While our profitability is still relatively low, we are pleased with the developments shown in 2019”, Coolblue adds. Based on these developments, the omnichannel retailer expects an increasing profitability in 2020.
Coolblue expects an increasing profitability in 2020.
Coolblue’s plans for 2020
In 2020, the company will be opening four new stores. One will be opened in Brussels, one in Leiden and the other locations will be announced later on.
Coolblue will also expand its own delivery service, the number of delivery bikes and the TV installation service. For this, they will hire an additional 1,200 delivery drivers and 200 installation experts. Furthermore, it will expand its smart home installation service, by also offering the installation of multi-room WiFi, smart liighting and smart smoke detectors at customers’ homes.