Berlin. (riag) Rocket Internet SE selected companies continued on the path towards profitability. For the first nine months 2016, the aggregate adjusted Ebitda margin improved significantly at all selected companies from a weighted average of minus 34.4 percent in the first nine months 2015 to minus 17.5 percent. The selected companies continued to grow revenues, whilst absolute Ebitda losses decreased by 159 million EUR.
Selected companies in the core sectors Food + Groceries (HelloFresh and foodpanda), Fashion (GFG Global Fashion Group), General Merchandise (Jumia) and Home + Living (Westwing and Home24) continued to show an increase in aggregate net revenue of 30.6 percent, reaching 1.58 billion EUR for the first nine months 2016.
HelloFresh, the leading global fresh meals at home provider, grew by 121.3 percent and reached 438 million EUR net revenue in 9M-2016, while improving its adjusted Ebitda margin by 11.1 percentage points to minus 15.1 percent. GFG increased net revenue by 26.6 percent to 706 million EUR in 9M-2016, with a clearly improved adjusted Ebitda margin of minus 14.1 percent. Dafiti, GFG’s Latin American online fashion retailer, improved its adjusted Ebitda margin from minus 31.8 percent in the first nine months 2015 to minus 7.0 percent in 9M-2016. Middle Eastern online fashion retailer Namshi has reached break-even in the first 9M-2016, with an adjusted Ebitda margin of 2.5 percent for the period. Online Home + Living company Westwing also significantly improved its adjusted Ebitda margin by 20.5 percentage points to minus 9.2 percent during 9M-2016.
Rocket Internet and its companies continue to be very well funded, with available cash of 1.6 billion EUR at Rocket Internet and additionally 1.1 billion EUR at the companies, as of the end of October 2016.
Rocket Internet Group’s 9M-2016 revenue (40 million EUR) and the consolidated loss (negative 642 million EUR) have respectively been impacted primarily by de-consolidation of subsidiaries and impairment related charges of associated companies (in particular related to GFG), as already disclosed in the H1-2016 results.
Shortly after Rocket Internet’s uplisting to the Prime Standard on September 26, 2016, the Frankfurt Stock Exchange announced Rocket Internet’s inclusion in the SDAX index, effective as of October 14, 2016.
«With the uplisting to the Prime Standard, and the subsequent inclusion in the German SDAX, we achieved one of our stated goals. The operating progress accomplished by our selected companies translates into continued growth and much improved margins», said Rocket-CEO Oliver Samwer.
The Rocket Internet Capital Partners fund held a third close on October 04, 2016, which took total combined commitments to 869 million USD. The 127 million USD incremental commitments were subscribed by third party investors and Rocket Internet (maintaining its 10 percent stake).
