Summary of The Platform Group (TPG) Update Call - August 01, 2025 Company Overview - The Platform Group (TPG) operates across 28 industries with 15,000 partners, serving over 5 million customers through more than 30 e-commerce platforms [2][3] Key Developments - **Acquisitions**: - Acquired a B2B platform for construction businesses, WeConnect Work, aimed at connecting construction companies with labor [5][6] - Acquired Julie Closet, a B2C platform for vintage luxury goods, adding 220,000 new vintage products to TPG's offerings [7][8] - Entered the optics and hearing market with MyGlasses, targeting revenues of €55-60 million in 2026 and expecting an EBITDA margin of 25% [9][10] - **Fulfillment Center**: - Opened a new fulfillment center to enhance service offerings for partners, allowing them to store inventory at competitive prices [11][12] - **Legal Structure**: - Announced a new legal structure, SA and Co, with Spana Holding owning approximately 70% of the company [13][14] Strategic Goals - TPG aims to become the leading platform group in Europe, focusing on both organic and inorganic growth [15][16] - Plans to expand to 30 industries by the end of the year, having already covered 28 [16] Financial Performance - **Q2 Results**: - GMV increased by 87% to €356 million [22] - Net revenues rose by nearly 50% to €160.8 million [23] - Adjusted EBITDA increased from €8.5 million to €15.9 million, an 87% rise [25] - Net profit from continued operations grew by 41% to €18.2 million [25] - **Earnings Per Share**: - Increased from $0.65 to $0.90 [26] - **Debt and Leverage**: - Forecasted net debt of €106 million with an expected EBITDA of €54-58 million, leading to a leverage ratio of 2.0 [42] Growth Strategy - TPG expects to onboard around 500 additional partners, reaching a total of 18,000 partners across 30 industries by next year [34][38] - The company has doubled its GMV and more than doubled its EBITDA over the past two years [35] Future Guidance - Revenue guidance for 2026 is set between €860 million, up from €820 million [37] - Expected GMV for 2026 is approximately €1.6 billion [39] - Adjusted EBITDA margin projected to be between 7.5% and 10% [37] Upcoming Events - Half-year financial statements to be published on August 22, followed by the annual general meeting on August 25 [54] Additional Insights - TPG has implemented a strong cost efficiency program, stabilizing distribution costs after eight quarters of increases [29] - The company emphasizes transparency in its financial reporting and plans to provide detailed cash flow statements in future updates [51]

Financial Performance & Growth - The company experienced consistent long-term growth with a 9.3% EBITDA CAGR from 2015 to 2020[6] - EPS also saw significant growth, with a 16.7% CAGR from 2015 to 2020[6] - The company's ROIC improved from 5.5% in 2015 to 8.8% in 2020[6] - YTD Operating Revenues as of June 30, 2021, were $2.65 billion, up from $2.56 billion in 2020[8] - YTD EBITDA from continuing operations as of June 30, 2021, was $382.6 million, compared to $345.1 million in 2020[10] - YTD Net Income as of June 30, 2021, was $152.3 million, an increase from $124.8 million in 2020[11] - The company projects a total EBITDA between $875 million and $925 million for 2021[83] - The company projects EPS between $2.00 and $2.15 for 2021[83] Business Segment Performance - Construction Services reported record second-quarter earnings of $28.9 million[39] - Construction Materials reported earnings of $51.4 million for the second quarter[52] - Electric and Natural Gas Utility reported earnings of $9.6 million for the second quarter[69] - Pipeline reported earnings of $9.2 million for the second quarter[80] Strategic Positioning & Opportunities - The company has a balance of cyclical and counter-cyclical businesses, with a 2020 EBITDA mix of 56% Construction and 44% Regulated Energy Delivery[6] - The company sees a significant opportunity in US infrastructure, citing a >$1 trillion spending gap[6] - The company's Construction Services segment has a record backlog of $1.32 billion as of June 30, 2021[39]