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MADE

Made.com Group Plc
0.52
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Share Name Share Symbol Market Type Share ISIN Share Description
Made.com Group Plc LSE:MADE London Ordinary Share GB00BNXM7M46 ORD GBP0.0001
  Price Change % Change Share Price Shares Traded Last Trade
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  0.00 0.0% 0.52 0.00 01:00:00
Bid Price Offer Price High Price Low Price Open Price
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Household Goods & Home Construction 371.90 -31.40 -7.90 2
Last Trade Time Trade Type Trade Size Trade Price Currency
- O 0 0.52 GBX
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Made.com (MADE) Latest News

Made.com News

Date Time Source Headline
18/1/202308:01UKREGMade.com Group Plc Delisting and cancellation of trading
18/1/202308:00UKREGLondon Stock Exchange Notice Cancellation - MADE.COM GROUP PLC
16/1/202308:35UKREGMade.com Group Plc Result of Meeting
22/12/202207:00UKREGMade.com Group Plc Recommended MVL and Notice of GM
09/11/202210:21ALNCNewsTOP NEWS: Next snaps up Made.com assets after sofa seller collapses
09/11/202207:00UKREGMade.com Group Plc Appointment of Administrators
02/11/202216:20ALNCNewsTRADING UPDATES: Alternative Income assets rise; Ironveld signs deal
01/11/202217:30UKREGFTSE Russell Made Com Group
01/11/202207:40UKREGMade.com Group Plc Intention to Appoint Administrators and Suspension
01/11/202207:30UKREGOfficial List Suspension - MADE.COM GROUP PLC

Made.com (MADE) Discussions and Chat

Made.com Forums and Chat

Date Time Title Posts
22/12/202210:36Made.com- online furnishings1,303

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Posted at 28/3/2023 09:20 by Made.com Daily Update
Made.com Group Plc is listed in the Household Goods & Home Construction sector of the London Stock Exchange with ticker MADE. The last closing price for Made.com was 0.52p.
Made.com Group Plc has a 4 week average price of 0p and a 12 week average price of 0p.
The 1 year high share price is 75p while the 1 year low share price is currently 0.34p.
There are currently 395,409,636 shares in issue and the average daily traded volume is 0 shares. The market capitalisation of Made.com Group Plc is £2,056,130.11.
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Posted at 01/11/2022 09:43 by tomboyb
https://www.ft.com/content/fda46bfa-dd6a-40ac-a277-8089a65c7d80

Made.com valued at £775m in London IPO
Shares in online furniture retailer fall as conditional trading starts

“It’s a bit disappointing,” said one banker not involved in the Made.com IPO, adding that the 200p a share pricing was “some way below the levels that had been talked about”.

Valuations of up to £1bn had been mooted in the run-up to the listing.

Made.com sold 50m new shares in the IPO, raising £100m, while existing investors including co-founder Ning Li and Brent Hoberman sold 46.9m shares. A further 14.5m shares could be made available as part of the overallotment option. If exercised, that would increase the number of shares to 111.5m and 29 per cent of the issued share capital.
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Posted at 26/10/2022 19:20 by tomboyb
hxxps://www.msn.com/en-gb/money/other/madecom-comes-apart-at-the-seams-as-inflation-drives-sofa-retailer-to-the-brink/ar-AA13pjCH

Made.com comes apart at the seams as inflation drives sofa retailer to the brink
Hannah Boland - 50m ago
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“Sit tight,” a notice plastered across Made.com’s website read on Wednesday morning.

MADE.COM Philippe Chainieux CEO - Made.com
MADE.COM Philippe Chainieux CEO - Made.com
© Provided by The Telegraph
The furniture retailer said it had taken down its website to make “some important updates to improve your shopping experience". “We’ll be back soon,” the notice read.

It’s now looking increasingly unlikely that Made.com can stick to that promise.

On Wednesday, as it teetered on the brink of collapse, the retailer said it would temporarily stop taking orders.

Its talks with potential buyers and investors, which had been going on for weeks, had ultimately ended without a deal and the £70m cash injection it had been seeking appeared less likely than ever to materialise.

Made.com, which was set up in 2011 by investor Ning Li and Lastminute.com founder Brent Hoberman, said it had no choice but to take "appropriate steps" to preserve value for creditors.

“There's a pretty clear indication in all this,” says Paul Zalkin, a restructuring expert at Quantuma. “It seems highly likely that the business is going to have to go through some sort of formal insolvency process.”

City sources describe the situation as “disastrous221;. The company, which had only a year and a half ago commanded a valuation of £775m, now appears almost worth nothing.

Made.com on Tuesday warned that shares may be suspended after they plunged to 0.5p, valuing the company at just over £2m. In truth, City sources say, “it is just plain f—ked”.

Many have been left scratching their heads over how it all went so wrong.

In the past year alone, Made.com has lost its chief executive and its chief financial officer, and has warned over profits three times.

In its latest set of results, to June 30, it said its cash pile had shrunk by £143m in the space of a year to just £32m, after it started storing more furniture in warehouses to avoid supply turmoil. It also splurged on more warehouse space “in anticipation of strong growth” this year, only to be hit by a downturn in spending among squeezed shoppers.

“One has to question if they've really understood the mechanics of the furniture industry,” says Shore Capital analyst Clive Black. “It doesn't look like there's been any slack in their system”.

Aside from the operational side of things, Black says there also appears to have been a similarly odd approach to the finance strategy. “It just looks like the bank is empty.”

Made.com does not have any pre-arranged credit or overdraft facilities. Its liabilities are made up of “trade”, meaning its suppliers, and leases, where it has taken warehouse sites. At the end of June this year, it owed both of these groups around £72m.

In the face of dwindling demand for furniture as shoppers are racked with a cost of living squeeze, and in light of Made.com’s financial situation, analysts say it is unlikely any loan would now be forthcoming from banks.

“No one would loan them any money,” says Davy’s David Reynolds. “In their short public history, Made.com has been characterised as moving too slow - to flex the business into a downturn, to remedy mistakes, and in this case to move to a trade sale scenario.”

The threat of an imminent collapse is something which is now spreading within Made.com itself. Days earlier, staff had been sending emails to customers offering 15pc off all lighting and “furniture in time for Christmas”. Now, insiders say there is “lots of worry”, with no-one certain whether they will still have a job by the end of the year.

Meanwhile, executives “must be terrified of all the public company obligations,” says another source. “Governance has to be extra tight when administration looms,” they say, amid pressure any slip-up could lead to legal action against directors.

All this is breeding anxiety within the business. The company had already started making more than a third of its workforce redundant as part of cost-cutting efforts, which also included consolidating its supply chain in Europe and Vietnam.

Now, though, those who had thought their jobs were safe are facing the threat that the business could ultimately go under. “It's possible, of course, that it could just cease to trade entirely,” says Zalkin.

For customers, there is a clear desire for some clarity on whether orders they have placed will still be coming. “Is it likely that I’ll get my bed on November 9 or shall I just cancel my order?” one customer asked the retailer on Twitter.

Another said they had “used our wedding presents to order a sofa from you and we can't even get on your website anymore”. Made.com had not replied to their questions by Wednesday afternoon.

While ceasing to trade is one option, there are others which could materialise. For one thing, a rescue funder “could come in and is able to recapitalise the business in order to sort of keep it solvent,” says Zalkin, although he says the recent updates from the company suggest that is unlikely.

A pre-pack administration is a more likely outcome, Zalkin says, something which would allow a buyer to come in and essentially leave the creditors behind for the administrator to deal with, portioning out what remaining cash there is after accounting for costs.

Such a process might attract more interested parties. Davy’s Reynolds says it might be a similar situation to Eve Sleep, the mattress retailer which last week crashed into administration and that same day was bought out by Benson for Beds. “Like Eve Sleep, buyers will emerge who clearly did not want to pay the equity price but are more prepared to acquire distressed assets,” he says.

For now, Made.com only says that its board is “considering its position and a further announcement will be made in due course”.

“There can be no certainty that the terms of any offer or investment received will be suitable,” the company told the market.

Made.com may be keen to reassure customers that it will be “back soon”, but the reality of the situation is that it is already out of the retailer’s hands.
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Posted at 25/10/2022 17:23 by andymunchkin
thepsychic8 Aug '21 - 17:44 - 25 of 981
0 0 0
There is plenty of ramping going here.

No one seems to want to mention the following:

- How competitive this industry is. There are plenty of better placed alternatives to Made.
- How Made are extremely reliant on advertising expenditure. Particularly on social media.
- There is a slow down in obtaining parts for materials in Asia due to covid causing intermittent lockdowns.
- They have had a great run due to covid but now that people will be spending more time outdoors there is likely to be a slow down in home furnishings.
- The share price recently had to be stabilised to avoid a collapse.

It's easy to look at things with rose tinted glasses but apart from all the positives mentioned on this thread there are serious underlying concerns that need to be addressed. The share price is falling for a reason.
-----
yup FalliNFeR a ReasoN
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Posted at 11/10/2022 11:01 by bingaxu
04/10/22 (Sharecast News) - Online furniture retailer Made.com said on Tuesday that it has entered into non-disclosure agreements and begun discussions with a number of interested parties regarding the potential sale of the company.Interested parties will be provided with additional information on the group and be invited to put forward non-binding indicative proposals in the middle of October.Made said the board will review the proposals and expects to a select number of parties to be invited to participate in a second phase "to conclude as soon as practicable thereafter".Interested parties will be made aware that the current management plan for a standalone public company is expected to require aggregate funding of around £45m to £70m over the next 18 months."Current discussions may be altered or terminated at any time and, accordingly, there can be no certainty that an offer will be made, nor as to what the terms of any offer may be," the company said, adding that it will update shareholders further as appropriate.Made.com announced last month that it was considering putting itself up for sale.At 1320 BST, the shares were up 21% at 4.10p.AJ Bell financial analyst Danni Hewson said: "A bidder will need deep pockets as the main reason why the business is up for sale is because of the difficulties in raising the level of finance needed to put the group on the right path to sustained profitability."
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Posted at 07/10/2022 09:39 by toopoor
It was valued at £775m .


Online furniture retailer Made.com has priced its IPO at £775.3 million.

The London-headquartered company will join the main market of the London Stock Exchange.

The price is below the £1 billion target widely reported earlier this month.

Co-founded by entrepreneur Brent Hoberman, founder of Lastminute.com, in 2010, the business intends to raise £100 million in an IPO which will see some existing investors sell shares.

The firm saw a 30% increase in sales last year to £315m, but made a loss of just over £5m. In the first three months of 2021, sales rose 63%.

Made.com has expanded its product offering to include homewares and lifestyle, with more categories in the pipeline.

As well as the UK site, it operates in seven markets in mainland Europe including France and Spain. It plans to launch in further territories.

“The IPO is an exciting milestone for MADE. I would like to thank everyone who has been a part of our growth journey, especially our employees, as we deliver on our vision of becoming the leading home destination in Europe for digital natives,” said CEO Philippe Chainieux.

“Our successful track record in the UK and internationally has been made possible with the foundations that we have built over the last eleven years – a unique combination of a well-recognised brand, a proprietary, data-driven platform, and a bespoke, vertically integrated supply chain connecting our network of designers, artists and collaborators with our customers.

“A listing in London, where the business was founded, will enable us to accelerate our growth as we lead the development of the online furniture and homewares market as it moves online, both in the UK and internationally.R21;
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Posted at 07/10/2022 09:26 by toopoor
Am in.



The beleaguered online retailer Made.com has begun talks with potential buyers as the furniture company disclosed that it would need up to £70 million in funding to survive the next 18 months.

Made.com, whose shares have fallen sharply since it made its debut on the stock market last year with a £775 million value, has set a mid-October deadline for potential suitors to table indicative proposals.

After this, the board “will review these proposals and expects a select number of parties will be invited to participate in a second phase to conclude as soon as practicable thereafter,” the company said in a statement yesterday.


It also warned that it would need between £45 million and £70 million to continue until the end of next year. Made.com had considered raising funds from investors but said last month that market “conditions are not supportive at the current time”.

Made.com was one of many online firms to benefit from the pandemic lockdown but has suffered declining sales as customers returned to the high street or cut back on big-ticket items because of the cost of living squeeze.



It was founded in 2010 by Ning Li, Chloe Macintosh and Brent Hoberman, the co-founder of Lastminute.com, to offer stylish furniture at lower prices by working directly with designers. Made.com employs more than 700 staff and has offices in London, Paris, Berlin and Amsterdam.

The company has been linked with a list of possible buyers in recent weeks, including the Sports Direct owner Frasers, often tipped as interested in distressed retailers, and private equity firms. Made.com declined to comment further.

News of the talks sent Made.com’s share price moved 39.8 per cent, or 1¼p, higher to 4¾p. But that is still a far cry from the 200p at the time of the market flotation 15 months ago. Made.com has issued three profit warnings in less than a year, and has started laying off staff.
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Posted at 23/9/2022 09:35 by tomboyb
https://www.ft.com/content/b03a399f-141c-4516-a002-1e4c764d2a0a

Made.com puts itself up for sale
Furniture group says conditions are ‘not supportive’ to raise rescue funds on the public markets


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https://www.ft.com/content/b03a399f-141c-4516-a002-1e4c764d2a0a

Online furniture retailer Made.com has put itself up for sale after concluding that it would be unable to raise fresh equity to help sustain a business hit by a collapse in UK consumer confidence and supply chain disruption.

Having gone public last year, Made.com warned on profits in July and last month said it would need to raise more cash. The company on Friday said that it would look at a range of options, including a sale and possible debt financing.

“The prevailing conditions are not supportive at the current time of raising sufficient equity from public market investors,” Made said in a statement.

It also said that it was withdrawing its full-year financial guidance because of “the unexpected events of the past two weeks in the UK compounding the deterioration of trade”.

The shares have collapsed from an IPO price of 200p in June last year to 5.75p on Thursday, giving the group a market capitalisation of £23mn.

Recommended
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Problems pile up at furniture company Made

“While the group has had a number of strategic discussions with interested parties, the group is not in receipt of any approaches, nor in discussions with any potential offeror, at the time of this announcement,” Made said.

The group said that a fall in consumer spending had left it having to slash prices to shift inventory. At the same time, its freight costs have ballooned from £8.2mn in 2020 to £45.3mn last year — costs it has not been able to pass on to consumers.

The group also announced sweeping cost cuts, first reported by the Financial Times on Thursday.

“A process has commenced to implement additional cost reductions, including a strategic headcount review, within the next few weeks, whilst retaining appropriate skills and resources to be able to conduct the strategic review process effectively,” Made said.
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Posted at 05/9/2022 04:58 by kw9143
Made.Com share price forecast for 2022? The analyst consensus target price for shares in Made.Com is 47.00p. That is 494.94% above the last closing price of 7.90p.
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Posted at 19/8/2022 12:54 by tomboyb
hxxps://www.thetimes.co.uk/article/liontrust-clients-lose-58-million-as-made-com-shares-collapse-9dmcg688w

Liontrust clients ‘lose £58 million’ as Made.com shares collapse

Clients of Liontrust Asset Management appear to have been the biggest losers from the collapsing share price at Made.com, which was yesterday dubbed the worst-performing flotation of 2021 after warning it needed more capital.

Majedie Asset Management, now a subsidiary of Liontrust, was the main cornerstone investor at the time of the fateful initial public offering of Made.com in June last year, buying £50 million worth of shares, giving it a 6.45 per cent stake at the time.

Other big buyers into the flotation were Axa, NFU Mutual and Premier Fund Managers.

Made.com shares have since collapsed from 200p to just 9.90p at yesterday’s close, leaving investors who bought £200 million worth of shares at the time of the flotation nursing losses of 95.1 per
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Posted at 11/10/2021 21:29 by simmsc
You’re welcome 1aconic
I didn’t write more earlier as I was at work. Now have finished my dinner, having a (decaf) cappuccino and reading in more detail. I’m happy to share a few more bits.

THINGS THAT STOOD OUT TO ME
Growth and demand remains eye-wateringly good
Positive EBITDA generated despite pressure from sea freight costs
Mid-teens EBITDA margins very achievable
Chunky upgrades to be had
Shares way too cheap and offer deep value
Trading at only 0.7x2022 EV/Sales for 34% 5 year revenue CAGR and a very significant margin expansion and FCF generation opportunity, the shares appear extremely cheap. BUY

QUESTIONS AROUND LEAD TIMES
Aiming to bring down the lead times for furniture to 1-2 weeks. By bringing it down to this level the company could significantly improve its conversion rates. A 1 week improvement in lead time delivers a 5% increase in sales potential, a direct and immediate contribution to EBITDA

QUESTIONS AROUND RETENTION RATES:
Retention rates attractive and very comparable to Moonpig
Homewares are good for improving retention rates
Made.com is profitable on first order in UK and Europe
Retention rates to improve further via further investment in Homewares (excellent way also to acquire customers – low ticket value).
Westwing (EU competitor) shows how average order frequency can be increased via Homewares (Westwing 70% Homewares / Made at the moment only 30% Homewares).

WHY SHARE PRICE DECLINE SINCE IPO
Mostly due to higher freight costs
Made has decided not to pass on higher freight costs to its customers (despite the competition deciding to do so). Reason for doing this is winning market share for the long term.
Made did not want to increase prices before it reduces its lead times further (very sensible in my opinion). And Made is able to absorb these higher costs more easily due to higher margins (compared to its peers) and they still knew that they could improve margins significantly despite these costs.
(My personal opinion is that we are still partly also paying the price for the poor float jobs that Morgain Stanley and JP Morgan did). Some of this stock went into the wrong hands and poor marketing/roadshow was done).

QUESTIONS AROUND MADE’s TARGET TO GET FROM NEGTATIVE EBITDA TO LOW-TEENS EBITDA IN 5 YEARS
Massive cost leverage kicking in across all lines in the p&l due to heavy investment before the IPO (peers are behind with these investments)
Proof that the leverage is being delivered is, while freight costs resulted in a 3% drop in gross margins in 1H 2021, EBITDA margin still improved from -10% to +0.6% (this is huge in my opinion. If this was the only thing that I knew about Made.com, I would buy the shares).

HOW DOES MADE COMPARE TO ITS MAIN COMPETITORS
Highest gross margin as it’s the only 100% branded seller (Home24 and Westwing only 50% and 25% respectively)
Initially made will continue to have higher marketing costs (compared to its peers) as made is investing in expanding its Homewares market share (which brings huge benefits in repeat orders/retention, etc) and increasing brand awareness in Europe … in the medium term marketing spend will move back towards mid teems level (% of revenue).
Made’s competitors are now seeing sharp declines in EBITDA due to them trying to catch up with MADE in terms of investing in own brand (etc). This EBITDA decline comes despite passing freight costs on to customers. This shows MADE in a much better light as MADE is already seeing leverage benefits.

A FEW FIGURES
Sales expected to grow to 691m by 2023
Gross margin back up at 54% by 2023
EBITDA 44m by 2023
EPS 4p by 2023
Net debt -92.4m by 2023 (as in cash positive!)
(PS by the time I had finished writing this post my cat secretly drank my cappuccino).
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