Rocket Internet's select companies report positive Q1

Rocket Internet SE reported consolidated revenue of 10 million euros (11.6 million dollars) and a consolidated profit of 75 million euros (87 million dollars) in the first quarter of 2018. Earnings per share amounted to 0.46 euro (0.53 dollar) for the period.

"In the first quarter of 2018, our selected companies continued to make progress on their path towards profitability, while demonstrating sustainable growth,” said Oliver Samwer, CEO of Rocket Internet in a statement.

Select companies under Rocket Internet report positive Q1

The company said, selected companies achieved further revenue growth and margin improvement in Q1 2018. Global Fashion Group, the leading online fashion destination in emerging markets, reported group net revenue of 237 million euros (275.4 million dollars), a growth of 17.6 percent on a constant currency pro-forma basis and 3.6 percent on euro basis compared to Q1 2017. The adjusted EBITDA margin improved to -13.6 percent in the first quarter.

Jumia, the online platform in Africa, grew GMV to 151 million euros (175 million dollars), a 70.9 percent increase over Q1 2017. Online Home & Living company Westwing increased revenue by 18.4 percent to 71 million euros (82 million dollars) and reported the second consecutive profitable quarter with an adjusted EBITDA margin of 1.7 percent in Q1 2018.

Home24 grew revenue by 25.2 percent to 85 million euros (98.6 million dollars), while the adjusted EBITDA margin improved to -6 percent in the quarter. On May 18, 2018, Home24 announced plans for an initial public offering on the Frankfurt Stock Exchange. HelloFresh, the leading meal kit company, reported revenue growth of 44 percent and reduced losses significantly. The adjusted EBITDA margin improved from -14.4 percent in Q1 2017 to -7.3 percent in Q1 2018.

Picture:Lamoda website