Jumia 2016 Financials – adjusted EBITDA loss €91.9 million, revenue decreased by 42%, both total transactions and active users down

Rocket Internet SE has published today FY 2016 Results for Rocket Internet SE and selected companies.

Rocket Internet SE’s selected companies have shown continued revenue growth and progress on their way towards profitability in 2016. Aggregate revenue across the focus sectors Food & Groceries, Fashion, General Merchandise and Home & Living grew by 29% from EUR 1.7 billion in 2015 to EUR 2.2 billion in 2016. The aggregate adjusted EBITDA margin improved by 16.4 percentage points from -31.3% in 2015 to -14.9% in 2016, which equates to an absolute EBITDA loss reduction of EUR 234 million.

But the African business, Jumia, recorded an adjusted EBITDA loss of €91.9 million from €161.3 million in 2015.

African online platform Jumia, formerly known as Africa Internet Group, has successfully completed the rebranding of all services under the Jumia brand in 2016 with a positive impact on traffic and brand awareness. Jumia reduced its adjusted EBITDA losses from EUR -161.3 million in 2015 to EUR -91.9 million in 2016.

Notes: On August 30, 2016 Africa eCommerce Holding GmbH, the holding company of Jumia, was merged into Africa Internet Holding GmbH (formerly trading under Africa Internet Group). In June 2016, all business models of Africa Internet Group were renamed around the Jumia brand. The figures shown for all periods refer to Africa Internet Holding GmbH.

Jumia is really doing well as it has recorded gross profitability made possible by the consolidation of its operations in Africa.