Rocket Internet SE: Q1 Results of Portfolio Companies Show Significant Improvement
31 MAY 2016, BERLIN
Summary• Net revenue grows by an average of 34% to EUR 532 million Q1 2016 vs. Q1 2015 // • Selected portfolio companies improved adjusted EBITDA on average by 23% on yoy basis // • Adjusted EBITDA margin improvement of 16 percentage points Q1 2016 vs. Q1 2015
Rocket Internet SE’s (“Rocket Internet”, “the Company”) selected portfolio companies have made significant progress on their path to profitability in the first three months of the year. The adjusted EBITDA margin improved by 16 percentage points to negative 22% in the first quarter 2016 compared to the first quarter 2015, thereby reducing absolute EBITDA losses by more than EUR 40 million.
The companies across the key sectors Food & Groceries, Fashion, General Merchandise and Home & Living generated EUR 532 million in revenues in Q1 2016 excluding Lazada. Financials for Lazada have not been reflected since Rocket Internet sold the majority of it´s stake to Alibaba in April 2016 and has entered a put and call-agreement for it´s remaining stake. On average, the companies reduced their losses by 23% compared to last year, while net revenues grew by 34% in the first three months of the year.
HelloFresh, the leading global fresh meals at home provider, continued to show substantial growth with net revenue improving by 211% in Q1 2016. The Middle Eastern Fashion company Namshi which is part of Global Fashion Group (GFG), and the Home & Living company Westwing substantially improved profitability reporting adjusted EBITDA margins of negative 2.4% and negative 11% in the first quarter of 2016, reducing absolute losses to EUR 1 million and EUR 6 million respectively.
“These results show that Rocket Internet´s selected portfolio companies have significantly improved in the first three months of the year and are well progressing on their path to profitability. We are convinced that these companies will continue their positive development in 2016”, says Oliver Samwer, CEO of Rocket Internet.
For an overview of the detailed Q1 2016 results for selected portfolio companies, please see the appendix or visit our website.
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About Rocket Internet
Rocket Internet builds and invests in Internet companies that take proven online business models to new, fast-growing markets. Rocket Internet focuses on five industry sectors of online and mobile retail services that make up a significant share of consumer spending: Food & Groceries, Fashion, General Merchandise, Home & Living and Travel. Its network of companies operates a variety of business models in over 110 countries on six continents with more than 36,000 employees at the end of 2015. Rocket Internet SE is listed on the Frankfurt Stock Exchange (ISIN DE000A12UKK6, RKET). For further information please visit www.rocket-internet.com.
This document contains forward-looking statements. These statements are based on the current views, expectations and assumptions of the management of Rocket Internet SE ("Rocket Internet") and involve known and unknown risks and uncertainties that could cause actual results, performance or events to differ materially from those expressed or implied in such statements. Actual results, performance or events may differ materially from those described in such statements due to, among other things, changes in the general economic and competitive environment, risks associated with capital markets, currency exchange rate fluctuations and competition from other companies, changes in international and national laws and regulations, in particular with respect to tax laws and regulations, and other factors. Rocket Internet does not assume any obligations to update any forward-looking statements.
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About Rocket Internet
About Rocket Internet
Rocket Internet incubates and invests in Internet companies with proven business models. It provides operational support to its companies and helps them scale internationally. Rocket Internet focuses predominantly on four industry sectors of online and mobile retail and services that make up a significant share of consumer spending: Food & Groceries, Fashion, General Merchandise and Home & Living. Rocket Internet’s selected companies are active in a large number of countries around the world with more than 28,000 employees. Rocket Internet SE is listed on the Frankfurt Stock Exchange (ISIN DE000A12UKK6, RKET). For further information please visit www.rocket-internet.com.