Allegro announces the impact of the price increase on the results of the third quarter of this year. in the amount of “tens of basis points”, said Allegro’s CFO Jon Eastick.
“We have already informed that we will provide forecasts one quarter ahead. We announced a price increase from July 1 and this will have an impact on Q3 results, but we don’t give specific guidelines, I can only say that it will be tens of basis points. The increase in inflation was the main motivation for the price increase,” Eastick said in a conference call with analysts.
CEO Roy Perticucci noted that the company is satisfied with the results of the first quarter of 2023 and announced development on foreign markets, but did not provide details.
“The first quarter is solid and we are happy with our operations in Poland and the Czech Republic. Focus on customers in these difficult times has resulted in solid development in Poland. We operate successfully in Poland and we want to repeat this in our other markets. We started operations in the Czech Republic on May 9 this year. and Allegro wants to continue its foreign expansion,” said the president.
Rastick also signaled that consumer sentiment is not the best and that Polish consumers are conservative and one should not optimistically assume that there will be a significant rebound in sentiment soon.
When asked about the introduction of fees for sellers in the Czech Republic, the CEO replied: “In the Czech Republic, it’s an initial service and a very initial operation, so it’s hard to say what our acceptance there is at the moment,” and fees could start to be charged after a few months.
Allegro is the number 1 trading platform in Poland. Sales are carried out mainly by companies via the Allegro.pl marketplace e-commerce platform. Since October 2016, Allegro has been owned by the Cinven, Permira and Mid Europa funds. The company debuted on the Warsaw Stock Exchange in October 2020. It is included in the WIG20 index.