Apart from net income, which was 13% lower than the PAP consensus, Allegro Group’s Q2 23 results were better than the market had expected. At the group level, GMV (10.3% vs. 10-12%) and adj. EBITDA growth (+19.9% vs. 3-8%) all exceeded the company’s guidance and only revenues (+8.5% vs. 9-11%) were slightly weaker. The profitability trend was particularly strong, driven by the ongoing positive impact of cost savings.
