Rocket Internet posts revenue and profit increase in 2019

Rocket Internet SE in FY19 reported 67 million euros (73.2 million dollars) of consolidated revenue and a consolidated profit of 280 million euros (306.2 million dollars), representing 1.90 euros (2.08 dollars) earnings per share compared to 1.28 euros earnings per share in FY 2018.

Commenting on the results, Oliver Samwer, founder and CEO of Rocket Internet said: “2019 has been a successful year for Rocket Internet and many of its companies. The Corona pandemic has introduced a high degree of uncertainty to the development of the global economy this year and will also negatively impact our network of companies in the coming months and quarters.”

Rocket Internet’s select companies perform well in 2019

Rocket Internet said in a statement that its selected companies developed well in FY 2019, both breaking even on an adjusted EBITDA basis in Q4 2019. Global Fashion Group, the leading online fashion and lifestyle destination in growth markets, the company added, grew group revenue to 1.3 billion euros (1.4 billion dollars) in FY19, which represents a year on year growth of 17 percent on a constant currency basis. The adjusted EBITDA margin was negative 3 percent, a 1.5 percentage points improvement compared to the prior year period. Active customers reached 13.1 million at the end of FY19, a 17 percent increase compared to a year ago, while marketplace share expanded to 21 percent of NMV in Q4 2019 and the group broke even for the first time in the fourth quarter delivering an adjusted EBITDA of 0.7 million euros.

Home24, the company said, grew revenue to 372 million euros (406.8 million dollars) in FY19, a 20 percent increase versus the prior year on a constant currency basis and 19 percent including foreign currency effects. The company’s adjusted EBITDA margin improved to negative 8 percent compared to negative 13 percent in FY 2018, fueled by a 7 percentage point margin improvement in Europe compared to FY 2018. In Q4 2019, home24 reached adjusted EBITDA break-even for the first time on a group and regional level, thus achieving an important IPO milestone within 18 months after listing.

As of March 31, 2020, Rocket Internet had an available net cash position of 2.1 billion euros (2.3 billion dollars).

Picture:Global Fashion Group website