H1 2015 Results Update
30 SEPTEMBER 2015, BERLIN
Summary• Rocket Internet’s Proven Winners and Emerging Stars performance on track • Strong weighted top line growth of 142% in net revenues/GMV and margin improvement for Proven Winners in H1 2015 vs. H1 2014 • Transition of Rocket Internet’s financial reporting to IFRS • Nine new companies launched YTD • LPV increase of EUR 3.4 billion since IPO
Berlin, Germany, 30th September 2015 – During H1 2015, Rocket Internet SE (“Rocket Internet”, “Rocket”, “the Company”) continued to capitalize on the significant market opportunities in the global online economy through its network of companies, which have been performing in line with expectations. The Proven Winners recorded an average weighted net revenues/Gross Merchandise Volume (GMV) period-over-period growth of 142% in H1 2015. The Proven Winners continue to show strong operating leverage with an average EBITDA margin improvement of six percentage points in H1 2015 compared to H1 2014. The Emerging Stars mostly continued on their promising growth trend.
Rocket Internet increased its Last Portfolio Value (“LPV”) by EUR 3.4 billion since the IPO in October 2014, which corresponds to an increase of 38% in the LPV (plus net cash) per share from EUR 32 at IPO to EUR 44 now. The recent financing round at HelloFresh valuing this Proven Winner at EUR 2.6 billion post money contributed EUR 1.1 billion.
Rocket Internet successfully completed its transition to International Financial Reporting Standards (“IFRS”). This is an important step towards the envisaged Prime Standard uplisting and further increases Rocket’s financial transparency. Under IFRS, revenues amounted to EUR 71.3 million in H1 2015, increasing slightly compared to H1 2014. The result for the period changed from a profit of EUR 91.9 million in H1 2014 to a loss of EUR 45.9 million in H1 2015, predominantly driven by one-off effects such as a reduction in deconsolidation gains, by employee benefit expenses and partially offset by higher financial income.
The Rocket Internet platform is well on track to start 10 new companies in 2015, nine of which have been launched to date.
Oliver Samwer, Founder and Chief Executive Officer of Rocket Internet commented: „Our Proven Winners continue on their strong growth trajectory in 2015. The H1 financials demonstrate growth as well as improvements in profitability. Rocket’s transition to IFRS shows the strong progress that we have made in terms of financial reporting in the group and our focus on increasing transparency.“
For an overview of the Proven Winners H1 2015 financials, please see the appendix or visit our website.
Rocket Internet holds a capital markets day in London on September 30th and in New York on October 1st.
Andreas Winiarski, Senior Vice President Global Communications
T: +49 30 300 13 18 68
About Rocket Internet
Rocket's mission is to become the world's largest Internet platform outside of the United States and China. Rocket identifies and builds proven Internet business models and transfers them to new, underserved or untapped markets where it seeks to scale them into market leading online companies. Rocket is focused on online business models that satisfy basic consumer needs across four main sectors: eCommerce, marketplaces, travel and financial technology. Rocket started in 2007 and has now more than 30,000 employees across its network of companies, which are active in more than 110 countries across six continents. Rocket Internet SE is listed on the Frankfurt Stock Exchange (ISIN DE000A12UKK6, RKET). For further information visit www.rocket-internet.com.
This document is being presented solely for informational purposes and should not be treated as giving investment advice. It is not intended to be (and should not be used as) the sole basis of any analysis or other evaluation. All and any evaluations or assessments stated herein represent our personal opinions. We advise you that some of the information is based on statements by third persons, and that no representation or warranty, expressed or implied, is made as to, and no reliance should be place on, the fairness, accuracy, completeness or correctness of this information or opinions contained herein.
This presentation contains certain forward-looking statements relating to the business, financial performance and results of Rocket Internet SE, its subsidiaries and its participations (collectively, “Rocket”) and/or the industry in which Rocket operates. Forward-looking statements concern future circumstances and results and other statements that are not historical facts, sometimes identified by the words “believes,” “expects,” “predicts,” “intends,” “projects,” “plans,” “estimates,” “aims,” “foresees,” “anticipates,” “targets,” and similar expressions. The forward-looking statements contained in this presentation, including assumptions, opinions and views of Rocket or cited from third party sources, are solely opinions and forecasts which are uncertain and subject to risks. Actual events may differ significantly from any anticipated development due to a number of factors, including without limitation, changes in general economic conditions, in particular economic conditions in the markets in which Rocket operates, changes affecting interest rate levels, changes in competition levels, changes in laws and regulations, environmental damages, the potential impact of legal proceedings and actions and Rocket’s ability to achieve operational synergies from acquisitions. Rocket does not guarantee that the assumptions underlying the forward-looking statements in this presentation are free from errors nor does it accept any responsibility for the future accuracy of the opinions expressed in this presentation or any obligation to update the statements in this presentation to reflect subsequent events. The forward-looking statements in this presentation are made only as of the date hereof. Neither the delivery of this presentation nor any further discussions of Rocket with any of the recipients thereof shall, under any circumstances, create any implication that there has been no change in the affairs of Rocket since such date. Consequently, Rocket does not undertake any obligation to review, update or confirm recipients’ expectations or estimates or to release publicly any revisions to any forward-looking statements to reflect events that occur or circumstances that arise in relation to the content of the presentation.
Neither Rocket Internet SE nor any other person shall assume any liability whatsoever (in negligence or otherwise) for any loss howsoever arising from any use of this presentation or the statements contained herein as to unverified third person statements, any statements of future expectations and other forward-looking statements, or the fairness, accuracy, completeness or correctness of statements contained herein, or otherwise arising in connection with this presentation.
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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.