The Platform Group (TPG), the German company behind several vertical marketplaces, has significantly increased its trading volume, revenue, and profit in the first half of this year. The number of active customers and sales partners also grew strongly. By the end of this year, the group expects to have 16,500 partners, partly due to new acquisitions.
The company reports this in a statement on its sales performance over the past six months. Gross merchandising value reached more than 652 million euros, an increase of over 47 percent. Revenue grew at a similar pace, up 48 percent, reaching 343 million euros. Consolidated net profit rose by more than 77 percent, totaling 33.33 million euros.
More customers and partners
TPG saw the number of active customers on its specialized marketplaces increase by 29 percent, reaching 6.2 million consumers. On average, they spent 124 euros per order, 6 euros more than in the same period last year. The number of sales partners rose by over a quarter (26 percent), reaching 15,781. TPG expects more than 700 additional partners to join by the end of the year.
The number of sales partners grew by 26 percent
Build-and-buy strategy
The growth is largely driven by TPG’s acquisitions, as the company continues its long-term build-and-buy strategy. In the first half of this year, seven companies were integrated, four of which are already included in the financial reporting. Last year, TPG acquired eight companies, including German marketplace Hood.de and Dutch platform Winkelstraat. According to the company, TPG is now active in 27 industries.
New acquisitions
According to CEO Dominik Benner, TPG has exceeded its own expectations. He emphasizes that the company is also growing organically and announces new acquisitions: “The upward revision of our forecast reflects our positive performance through organic growth, with cash flow continuing to rise and a significant increase in our investments. The acquisitions we have made are contributing positively to the Group’s sales and earnings. We therefore anticipate a strong year overall and will continue to be very active in making acquisitions.”