Social Chain achieved a revenue of about €620m in 2021 and profits of more than €20m, it has been confirmed.
The company, which was co-founded in Manchester by Dragons' Den star Steven Bartlett and entrepreneur Dominic McGregor, is also set to announce its full-year expectations for 2022 next month.
However Social Chain, which is now headquartered in Germany but retains a Manchester office, has revealed that its EBITDA, without any adjustments, for 2022 is expected to be about €7m.
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CEO Wanja S. Oberhof said: "Social Chain AG is solidly profitable – even before special effects adjustments.
"We successfully implemented several extraordinarily large specialist projects in 2021: The merger with DS Group, the uplisting to the Prime Standard and the associated IFRS conversion.
"This makes me proud and I thank our entire team of 1,400 employees for their outstanding performance.
"Our vision for 2022 is clear: to put all the power of our social commerce knowledge into building our own brands and products, first and foremost into our flagship brands KoRo, CLASEN BIO, LANDMANN, URBANARA and BEEM.
Social Chain AG has grown extraordinarily fast and profitably over the past three years, from a reported €35m in revenues in 2019, to €130m in 2020, to a proforma consolidated €620m in annual revenues in 2021."
CFO Christian Senitz added: "Behind us lies an exciting and eventful year 2021. It was marked by important decisions with which we laid the organisational foundation to launch our scalable social commerce vision.
"We are thus changing our business focus from growth to sustainable profitability.
"My guiding principle as CFO is clear: planability, sustainability, solidity”, analyses , referring to current studies on the overall social commerce market."
