Annual Report: Miinto Reveals Record Growth Following U.S. Entry

🇩🇰 Du finder den danske version af denne artikel her.


Today, we can reveal that Danish Miinto has shown an impressive 21% growth in revenue and a significant improvement in EBITDA in their annual report for 2023/24.

Dontt.dk has exclusive access to the report, which will be publicly available on Monday. Revenue grew by an impressive 21%, reaching DKK 466.5 million, while the company’s total Gross Merchandise Value (GMV) ended at DKK 1.85 billion.

At the same time, the company managed to improve its EBITDA by over DKK 77 million, from DKK -103.9 million in the 2022/23 financial year to DKK -26.6 million in 2023/24.

Konrad Kierklo

Konrad Kierklo


Ai has optimized the customer experience

Konrad Kierklo, Founder and CEO of Miinto, shares:

“2023/24 has been a pivotal year for Miinto. We have not only achieved growth but also demonstrated how technology and innovation can create a more efficient and scalable business. We’re not there yet and have many exciting projects on our roadmap to ensure further improvements to our top and bottom lines.”

He also points out that a crucial part of the success has been Miinto’s strategic focus on AI, which has optimized both the customer experience and internal processes. Among the key improvements are better product data, providing customers with more information before making a purchase. This has resulted in fewer returns and faster pattern recognition, enabling the removal of products that do not meet customer expectations.

This has not only increased customer satisfaction and created a more personalized experience but also reduced administrative complexity for Miinto, improving profitability for both partners and Miinto.

Miinto

US

Konrad continues:

“We are working hard to achieve a positive bottom line in the near future while continuing to grow the business.
We are on the right track, but it’s a tough market where we need to stay focused and adaptable.”

Expansion into the U.S.

Miinto has taken an important step into the U.S. market as part of its strategic expansion outside of Europe. This expansion has been made possible through a targeted effort to optimize operations and streamline both revenue and costs.

The improved processes have created a higher level of scalability, opening doors to growth opportunities that were previously out of reach, concludes Konrad.


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