Select companies under Rocket Internet manage to trim losses in FY17

Rocket Internet SE's aggregate revenue across the selected companies in the focus sectors food & groceries, fashion, general merchandise and home & living grew by 28 percent from to 2.64 billion euros (3.25 billion dollars) in 2017, while the aggregate adjusted EBITDA margin improved by 5 percentage points from negative 15.4 percent in 2016 to negative 10.3 percent in 2017. The absolute EBITDA loss was reduced by 44 million euros (54 million dollars).

"2017 was a very successful year for Rocket Internet with the IPOs of Delivery Hero and HelloFresh, as well as a number of successful company exits, including the sales of Goodgame Studios and Affinitas and the sale of the final Lazada tranche to Alibaba", said Oliver Samwer, CEO of Rocket Internet in a statement, adding, "We delivered on our promise to create and crystalize value for our investors and to further improve the profitability of our selected companies."

Revenues at Global Style Group rise 23.5 percent

In the past year, revenues at the Global Style Group increased by 23.5 percent to 1.1 billion euros (1.3 billion dollars) in 2017, while the adjusted EBITDA margin improved from negative 14.7 percent in 2016 to 8.9 percent in 2017.

Online home & living company Westwing's adjusted EBITDA margin improved from negative 5.5 percent in 2016 to negative 1.9 percent in 2017, while revenue grew by 6.2 percent to 265.8 million euros (327.6 million dollars). As in Q4 2016, Westwing's adjusted EBITDA was positive in Q4 2017. Home24 increased full year revenue by 13.1 percent to 275.7 million euros (339.8 million dollars), while the adjusted EBITDA margin improved from negative 16.5 percent in 2016 to negative 7.9 percent in 2017.

The company said, HelloFresh, reported revenue growth of 52 percent in 2017 and improved the adjusted EBITDA margin from negative 13.8 percent in 2016 to negative 7.7 percent in 2017. Delivery Hero, the leading online food ordering and delivery marketplace, grew revenue year on year by 60 percent.

Jumia, the leading online platform in Africa, grew revenue to 93.8 million euros (115.6 million dollars) in 2017. Gross merchandise volume on the platform grew by 41.8 percent to 507 million euros (624.8 million dollars) in 2017, driven by strong total order growth to 8.3 million orders in 2017.

Rocket Internet Group's FY 2017 revenue of 36.8 million euros (45.3 million dollars) declined compared to FY 2016, which the company said was primarily due to deconsolidation, sales and dis-continuation of previously fully consolidated subsidiaries. The consolidated loss amounted to 6 million euros (7.4 million dollars) in 2017, while earnings per share reached break-even level with 0.01 euro (0.012 dollars) per share in 2017.

Picture:Global Style Group website

 

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