Rocket Internet AG / Key word(s): 9-month figures/Offer

2015-02-06 / 08:04

Rocket Internet creates Global Online Takeaway Group combining its stake in foodpanda and newly acquired stake in Delivery Hero as well as La Nevera Roja and Pizzabo

- Rocket Internet identifies Food and Groceries as the next frontier of e-commerce

- Rocket Internet creates Global Online Takeaway Group combining its stake in foodpanda and the newly acquired stake in Delivery Hero as well as La Nevera Roja and Pizzabo

- Acquisition of a 30% stake in Delivery Hero (on a fully diluted basis), a leading international online food takeaway group for EUR 496 million

- Rocket Internet acquires 100% of leading Southern European online food takeaway companies La Nevera Roja in Spain and Pizzabo in Italy for an undisclosed consideration

- foodpanda, market leader in emerging market online food takeaway, continues to build market leading positions with multiple investments in India and Asia

- In number of orders largest online food delivery company in the world outside China

- Single largest investment of EUR 130 million in HelloFresh, market leader in subscription based grocery e-commerce increasing Rocket ownership to 52%

- Increase in ownership to a majority position in 2 out of 8 Proven Winners

- Significant LPV Uplift of c. EUR 0.8 billion since IPO

- Strong year on year 9 month topline growth of 96% in GMV of key selected Proven Winners

Berlin, Germany, 6th February 2015 - Rocket Internet AG ("Rocket", ISIN DE000A12UKK6, RKET) continues to deliver on its strategic plan. Since the IPO in October 2014, the Food & Groceries sector has become a key focus for Rocket. With a rapidly growing global Food & Groceries e-commerce market of currently ca. EUR 324 billion Rocket views the sector as the next frontier of e-commerce. Rocket currently capitalizes on this significant opportunity with two proven models. HelloFresh, global market leader in subscription based grocery e-commerce and foodpanda, emerging market leader in the online food takeaway market.

Today Rocket Internet announces the creation of the Global Online Takeaway Group which combines its stake in foodpanda, the emerging market leader in the online food takeaway sector, and the acquisitions of a 30% stake in Delivery Hero and 100% of La Nevera Roja in Spain and Pizzabo in Italy. On a combined basis the group is present in 64 countries, works with 140 thousand restaurants and based on annualized December 2014 numbers processes 78 million orders.

Rocket yesterday announced the acquisition of a 30% stake in Delivery Hero, leading global platform in the online food takeaway market for a consideration of EUR 496 million through a combination of both primary and secondary transactions. With a complementary footprint to foodpanda, Delivery Hero has market leading positions in 19 out of its 24 markets including Germany, Austria, Switzerland, Sweden, Finland, Poland, Slovakia, Czech Republic, Argentina, Uruguay, Paraguay, Columbia, Chile and Korea.

In addition to the Delivery Hero transaction Rocket Internet has taken strategically important steps in Spain and Italy, two key Southern European markets, having among the highest market potential in the online food takeaway sector. In Spain Rocket acquired La Nevera Roja ("The Red Fridge"), one of the leading companies in the online takeaway market. In Italy Rocket acquired, a leading player in the online food takeaway market.

Rocket furthermore announced that the emerging market leader in the online food takeaway market, foodpanda, continues to make important investments to build market leading positions in several key markets. In India, foodpanda consolidated its market leading position by taking over JustEat's India operations following the integration of the former Delivery Hero business TastyKhana in November 2014. It also acquired key competitors in a number of other Asian markets. For further information on the acquisitions, please see the press release issued by foodpanda today.

foodpanda group now operates in more than 526 cities in 39 countries across 5 continents. Last November, Rocket re-classified foodpanda from Emerging Star to Proven Winner and will be providing increased disclosure on this successful business going forward. Rocket Internet today holds 55.2% in foodpanda.

Ralf Wenzel, Co-Founder and Managing Director of foodpanda group said: "foodpanda continues to build on its strategy of complementing organic growth with selective investments. Asia has been our first regional market and with these new acquisitions we have taken another big step ahead."

Today, Rocket announced a EUR 110 million funding round in HelloFresh together with existing shareholder Insight Venture Partners who contributed EUR 10 million. Rocket also acquired EUR 30 million in secondary shares making it the largest single Rocket investment in a Proven Winner. HelloFresh has shown an outstanding growth and operational performance in 2014 with a December run-rate of 21.7 million delivered meals and 172,000 active subscribers. Annualized December 2014 net revenues of approximately EUR 120 million highlight the successful development of the business in all markets including the U.S. With these transactions Rocket increased its ownership in HelloFresh to c.52%.

Dominik Richter, Co-Founder and CEO of HelloFresh said: "The entire HelloFresh team is extremely proud of its achievements over the past twelve months. Our successful expansion into the U.S. and nationwide roll-out positions us well in this huge market. We are very grateful that our investors continue their support to allow us to capitalize on our achievements. With the new funding we are very well positioned to considerably accelerate growth in our existing markets, expand into new markets and to provide our loyal and fast growing customer base with an exceptional and convenient food experience".

Rocket has maintained its high pace since the H1 business update in November. As a result of the participation in funding rounds and the acquisition of secondary shares, Rocket Internet continues to execute on its plan to increase its ownership in key Proven Winners having reached a majority position in 2 out of 8 companies - foodpanda and HelloFresh - and important milestones with regard to Home24.

Since the IPO Rocket Internet has raised capital for its network of companies including Proven Winners such as Lazada, Hellofresh and Home24 as well as for a significant number of its Emerging Stars and Concept companies. As a result the Last Portfolio Value ("LPV") has seen a significant increase of EUR 0.8 billion since the IPO from EUR 2.6 billion to EUR 3.4 billion. Rocket Internet will continue to invest in its network of companies as well as other selected opportunities. As such, Rocket continuously evaluates private funding and other funding alternatives for its companies.

Seven of the Proven Winners have already moved to quarterly IFRS reporting, which means that we will be able to provide more frequent performance updates. Dafiti, Lamoda, Jabong, Namshi, Linio, Home24 and Westwing continue to deliver a strong performance. The first 9 months of 2014 were characterized by strong topline growth with weighted average Gross Merchandise Volume ("GMV") year on year growth amounting to 96%. Rocket continues to invest in the build out of its platform and in its companies to achieve and strengthen its market leading positions. The Rocket headcount increased to ~400 people and 60+ IT engineers were hired in H2 2014 alone.

Oliver Samwer, CEO of Rocket Internet explained: "We are extremely excited about the opportunity in the global food and groceries sector with its tremendous market potential and the prospects of our two market leaders HelloFresh and our newly created Global Online Takeaway Group which combines unique companies to the leading global group in the online food takeaway sector. Our investments in the past months and the performance of our Proven Winners clearly demonstrate and further strengthen our deep confidence in the long-term success of the business models we launch and operate."

For a detailed overview of the Q3/9M 2014 results for selected Proven Winners, please visit our investor website


Media Contact Rocket Internet:
Andreas Winiarski, Senior Vice President Global Communications
T: +49 30 300 13 18 68
E: [email protected]

About Rocket Internet
Rocket's mission is to become the world's largest Internet platform outside of China and the United States. 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 three sectors: e-Commerce, marketplaces and financial technology.
Rocket started in 2007 and now has more than 25,000 employees across its network of companies, which operate in more than 100 countries on five continents. Rocket Internet AG is listed on the Frankfurt Stock Exchange (ISIN DE000A12UKK6, RKET). For further information visit

About Hellofresh
HelloFresh was founded in January 2012 by Dominik Richter and Thomas Griesel and is headquartered in Berlin with offices in New York, London, Amsterdam and Sydney. HelloFresh is the global leader in subscription based eCommerce. The company operates in Germany, the United Kingdom, the Netherlands, Australia and in the US. The company's investors include Rocket Internet, Phenomen VC, Holtzbrinck Ventures and Vorwerk Ventures.

About foodpanda group
foodpanda group is the leading global online food delivery marketplace, active in 39 countries on five continents. The company enables restaurants to become visible in the online and mobile world and provides them with a constantly evolving online technology. For consumers, foodpanda/hellofood offer the convenience to order food online and the widest gastronomic range, from which they can choose their favorite meal on the web or via the app. foodpanda operates in India, Thailand, Indonesia, Pakistan, Singapore, Malaysia, Brunei, Vietnam, Taiwan, Bangladesh, Kazakhstan, Azerbaijan, Hong Kong, Philippines, Russia, Ukraine, Hungary, Romania, Bulgaria, Georgia and Serbia. hellofood operates in Brazil, Mexico, Saudi Arabia, Jordan, Egypt, Nigeria, Morocco, Kenya, Ghana, Senegal, Ivory Coast, Rwanda, Tanzania, Uganda and Algeria. Delivery Club operates in Russia. Tastykhana and JUST EAT in India, NetPincer in Hungary, Donesi in Serbia, Bosnia & Herzegovina and Montenegro, and Pauza in Croatia, Room Service in Malaysia and Singapore, City Delivery in Philippines, Food By Phone in Thailand, Koziness and Dial-a-Dinner in Hong Kong, and Eatoye in Pakistan..

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 AG, 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 forwardlooking 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 AG 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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