Rocket Internet posts revenue and earnings growth in H1
By Prachi Singh
19 Sep 2019
Rocket Internet SE in the first half of 2019 reported 32 million euros (35.3 million dollars) of consolidated revenue and a consolidated profit of 548 million euros (605 million dollars), representing 3.65 euros earnings per share compared to 1.84 per share in the first half of 2018. The company said, Rocket Internet’s selected companies developed well during the period under review.
Commenting on the first half trading, Oliver Samwer, founder and CEO, Rocket Internet said in a statement: “The first six months have been a good start to the year. With 15 new internet-based business models incubated since January 2018, we continue to pursue our core strategy of operationally developing new business models in the tech space.”
Review of Rocket Internet’s select companies results Global Fashion Group, the company added, listed on the Frankfurt Stock Exchange in July 2019, raising net proceeds of 186 million euros. The company grew group revenue to 603 million euros (666 million dollars) in H1 2019, increase of 16 percent on a constant currency basis, while adjusted EBITDA margin was negative 5 percent, a 0.9 percentage points improvement compared to the prior year period. Active customers reached 12 million, a 15 percent increase compared to a year ago, while marketplace share expanded to 19 percent of NMV in Q2 2019.
Jumia, the pan-African e-commerce platform listed via ADS on NYSE, the company added, grew GMV to 521 million euros (575.3 million dollars), a 64 percent increase over H1 2018, while the marketplace revenue grew by 96 percent. Jumia’s number of active consumers reached 4.8 million during the period compared to 3.2 million twelve months earlier.
Home24 grew revenue to 178 million euros (196.5 million dollars), a 19 percent increase versus the prior year period on a constant currency basis and 18 percent including foreign currency effects. In the second quarter, Home24 achieved 28 percent revenue growth on a constant currency basis, with Brazil contributing strongly with 43 percent growth. The adjusted EBITDA margin decreased to 13 percent in H1 compared to 9 percent decrease in the prior year period.