The half-yearly turnover of the online distributor of electronic cigarettes jumped 51%. Well received by the markets, this news pushed the stock up 8.6% in its price at midday.
Kumulus Vape’s annual target revised upwards | Photo credits: Imperial Brands
Good news for Kumulus Vape. The French leader in e-commerce of electronic cigarettes created in 2012 achieved a turnover of 24.8 million euros in the first half of 2022, an increase of 51% over one year. This entirely organic dynamic is all the more impressive as the company has already recorded very strong growth in previous years. Its revenues rose by 76% in 2021, to 34.5 million euros, and by 53% in 2020, despite the health crisis.
Bearing
In the first half, its growth was mainly driven by revenues from BtoB (sales to specialist shops). At 22.2 million euros, they already represent 75% of the turnover of the previous year and have experienced growth of 57% over one year. The BtoC activity, online sales to individuals, increased to a lesser extent, by 13%, to 2.6 million euros.
Given its solid performance, Kumulus Vape, which displays one of the largest catalogs on the market with 7,000 references, expects to exceed the turnover target it had initially set. While the company was counting on 40 million euros at the start of 2022, it is now confident in its ability to reach 45 million, although fears remain about the evolution of the economic and health situation. . This confidence is reinforced by the current strong attractiveness and the level of orders expected for the second half of 2022. On the stock market, the announcement is welcomed: the stock climbed 8.6% at midday, to 10.10 euros, going back above its IPO price at 9.5 euros per share.
SM