DGAP-News: Rocket Internet SE / Key word(s): 9 Month figures
Rocket Internet SE: Rocket Internet Announced 9M 2018 Results for Rocket Internet & Selected Companies
- Rocket Internet reported a consolidated profit of EUR 296 million for 9M 2018
- The selected companies achieved further revenue growth and overall margin improvement in 9M 2018 vs 9M 2017
- The Company remains well funded with an available cash position of
- Rocket Internet bought back 1.9 million shares for EUR 46 million under the share buy-back program announced in September 2018
Berlin, November 30, 2018 - Rocket Internet SE ("Rocket Internet" or "the Company") in 9M 2018 reported EUR 32 million of consolidated revenue and a consolidated profit of EUR 296 million, resulting in EUR 1.88 earnings per share (EUR -0.24 earnings per share in 9M 2017). As of October 31, 2018, Rocket Internet had a strong available cash position of EUR 2.0 billion.
The selected companies achieved further revenue growth and overall margin improvement in 9M 2018 versus 9M 2017. HelloFresh, the leading meal kit company, reported strong year on year revenue growth of 40.7% to EUR 918 million in 9M 2018. The adjusted EBITDA margin improved from -9.8% in 9M 2017 to -5.6% in 9M 2018. In Q3 2018, the International segment re-accelerated revenue growth with 54.5% year on year and was adjusted EBITDA positive for the second quarter in a row. In the U.S., the strategic initiatives are already starting to pay-off and allow HelloFresh to build out its market leading position.
Global Fashion Group, the leading online fashion and lifestyle destination in emerging markets, grew group revenue to EUR 799 million in 9M 2018, which represents a year on year growth of 18.7% on a constant currency pro-forma basis and 4.2% on Euro basis, due to FX headwinds in several regions. The adjusted EBITDA margin in the first nine months of 2018 improved to -7.6% (-10.0% in 9M 2017). Net Orders in the period increased by 22.2% compared to the prior year. Out of the regional businesses, The Iconic, operating in Australasia, contributed the strongest revenue growth with 37.8% on a constant currency basis (27.3% on Euro basis) in 9M 2018 over 9M 2017, coupled with a strong gross profit margin of 44.6% in 9M 2018.
Jumia, the leading e-commerce ecosystem in Africa, grew GMV to EUR 512 million in 9M 2018, a 65.5% increase over 9M 2017 on Euro basis (86.1% based on constant FX). Jumia's number of active consumers reached 3.5 million at the end of September 2018, a very significant increase over the 2.3 million active consumers just a year ago.
Online Home & Living company Westwing successfully listed in the regulated market segment (Prime Standard) of the Frankfurt Stock Exchange and had its first day of trading on October 9, 2018. The all primary offering priced at EUR 26.00 per share and resulted in EUR 122 million of proceeds to the company. Westwing increased revenue by 19.6% year on year to EUR 175.2 million in the first nine months of 2018 and with an 0.7% adjusted EBITDA margin continued to be profitable in the first nine months of 2018. A strong contributor to top line growth was the DACH segment, with 42.8% revenue growth in the first nine months 2018.
Home24 grew revenue by 13% to EUR 221 million in 9M 2018 versus 9M 2017. The adjusted EBITDA margin in the first nine months of 2018 decreased from -9% in 9M 2017 to -12% in 9M 2018, mainly due to higher marketing and fulfilment expenses as well as investments in future projects, whose earnings contribution will only take full effect from Q2 2019 onwards.
Oliver Samwer, founder and CEO Rocket Internet commented: 'I have great respect for what the management teams at our selected companies have accomplished in the past four years. They have built leading businesses in many regions of the world that continue to grow and reach break-even, making them attractive to capital markets.'
On September 20, 2018, Rocket Internet had announced a share buy-back program for up to 5.5 million shares and up to EUR 150 million over the next twelve months. Until November 23, 2018, 1.9 million shares for EUR 46 million were bought back under the program.
For an overview of the detailed 9M 2018 results for selected companies, please see the appendix or visit our website.
T: +49 30 300 13 18 68
About Rocket Internet
Rocket Internet incubates and invests in internet and technology companies globally. 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 33,000 employees. Rocket Internet holds stakes in four significant publicly listed companies: Delivery Hero, HelloFresh, home24 and Westwing. Rocket Internet SE is listed on the Frankfurt Stock Exchange (ISIN DE000A12UKK6, RKET) and is included in the MDAX index. For further information please visit http://www.rocket-internet.com.
Disclaimer / Important Note
Rocket Internet does not have control over the selected companies mentioned above. The actual legal and economic interest of the Rocket Internet group in the network companies shown above is far lower than 100%. Please refer to Rocket Internet SE's consolidated financial statements for additional information on the group's consolidation policies and its segment information.
This document contains forward-looking statements. These statements are based on the current views, expectations and assumptions of the management of Rocket Internet SE 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.
Document title: Appendix_2018_9M Rocket Internet and Selected Companies Results
|Company:||Rocket Internet SE|
|Phone:||+49 (0)30 300 13 1800|
|Fax:||+49 (0)30 300 13 1899|
|Listed:||Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Stuttgart, Tradegate Exchange; Luxembourg Stock Exchange|
|End of News||DGAP News Service|