22.09.2016
Rocket Internet SE DE000A12UKK6
DGAP-News: Rocket Internet SE: Key Portfolio Companies Continue to Advance Towards Profitability (news with additional features)
DGAP-News: Rocket Internet SE / Key word(s): Half Year Results
Rocket Internet SE: Key Portfolio Companies Continue to Advance Towards
Profitability (news with additional features)
22.09.2016 / 07:45
The issuer is solely responsible for the content of this announcement.
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Rocket Internet SE: Key Portfolio Companies Continue to Advance Towards
Profitability
- Aggregate net revenues of key portfolio companies grow by 32% to EUR
1,043 million H1 2016 vs. H1 2015
- Aggregate adjusted EBITDA margin of key portfolio companies improves
from
-32% in H1 2015 to -17% in H1 2016
Berlin, Germany, September 22, 2016 - Rocket Internet SE's ("Rocket
Internet", "the Company") key portfolio companies have taken further
significant steps towards profitability in the first half of 2016. As a
result, the aggregate adjusted EBITDA margin improved from
-32% in the first half of 2015 to -17% in the first half of 2016 and
absolute EBITDA losses decreased by EUR 84 million.
The key companies in the core sectors Food & Groceries, Fashion, General
Merchandise, and Home & Living - HelloFresh, foodpanda, Global Fashion
Group ("GFG"), Jumia, Home24 and Westwing - grew aggregate net revenues on
average 32% to EUR 1,043 million in H1 2016.
Highlights of the key companies' development in the first half of 2016
include: HelloFresh, the leading global fresh meals at home provider,
continued to show attractive growth with net revenue improving by 159% in
H1 2016. GFG significantly improved its profitability. Dafiti, GFG's Latin
America's online fashion retailer, improved its adjusted EBITDA margin from
-37% in the first half 2015 to -9.6% in the first half 2016 and Russian
online fashion company Lamoda improved its adjusted EBITDA margin from
-16.2% in the first half 2015 to -6.1% in the first half 2016. Middle
Eastern online fashion retailer Namshi turned profitable at adjusted EBITDA
level in H1 2016. Online Home & Living company Westwing also demonstrated
further progress on its path to profitability with an adjusted EBITDA
margin in the first half year 2016 of -8.4% compared to -31.7% in the first
half year 2015.
As announced on September 1st, 2016, special items, in particular
impairments at GFG, weighed on the consolidated IFRS results of Rocket
Internet in the first half of 2016. Overall, the consolidated loss for the
first half of 2016 was EUR 617 million. As a result of deconsolidation
effects, group revenues in the first half of 2016 decreased to EUR 29
million compared to EUR 71 million in first half of 2015.
Rocket Internet announces today that it has expanded its existing
convertible buyback program. Rocket Internet may spend an additional EUR 85
million on convertible buybacks until 30 September 2017. The initial
buyback program resulted in a buyback volume (nominal) of EUR 164 million
as of September 20, 2016, almost completing the initially announced buyback
program.
"The first half 2016 results have shown that Rocket internet's key
portfolio companies continue to progress on their path to profitability",
says Oliver Samwer, CEO of Rocket Internet. "We are on track to meet our
profitability targets, with at least three of our key portfolio companies
turning profitable until the end of 2017."
For an overview of the detailed H1 2016 results for key portfolio
companies, please see the appendix or visit our website.
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Contact
[email protected]
About Rocket Internet
Rocket Internet builds and invests in Internet companies that take proven
online business models to new, fast-growing markets. Rocket Internet
focuses on five industry sectors of online and mobile retail services that
make up a significant share of consumer spending: Food & Groceries,
Fashion, General Merchandise, Home & Living and Travel. Its network of
companies operates a variety of business models in a large number of
countries around the
world with more than 36,000 employees at the end of 2015. Rocket Internet
SE is listed on the Frankfurt Stock Exchange (ISIN DE000A12UKK6, RKET). For
further information please visit www.rocket-internet.com.
Disclaimer / Important Note
Despite not having control over the key portfolio companies mentioned
above, the aggregate financial information is shown on a 100% basis (i.e.
100% of net revenues and EBITDA). 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 2015 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.
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Additional features:
Document: http://n.eqs.com/c/fncls.ssp?u=QHKJHOWULC
Document title: Appendix
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22.09.2016 Dissemination of a Corporate News, transmitted by DGAP - a
service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
The DGAP Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Archive at www.dgap.de
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