Rocket Internet news and archive

Rocket Internet nine months revenues increase 17 percent

German incubator and investor in internet and technology companies Rocket Internet said on Friday its nine months revenue for 2018 increased by 17 percent. Profit increased to 296 million euros from loss of 44 million euros in the same period last year resulting in earnings per share of 1.88 euros. The company’s sales in nine months 2018 were 32...

Report

Rocket Internet returns to net profit of 297 million euros in H1

Rocket Internet SE in H1 2018 reported 24 million euros (28 million dollars) of consolidated revenue and a consolidated profit of 297 million euros (347 million dollars) or 1.84 euros (2.15 dollars) earnings per share compared to a loss of 0.15 dollars in H1 2017. As of August 31, 2018, Rocket Internet said that it had a strong available cash...

Management

Rocket Internet's chief financial officer Peter Kimpel resigns

Rocket Internet SE has announced that its chief financial officer Peter Kimpel will be leaving the management board of the company beginning of October 2018 to pursue a new management challenge. The company said, Kimpel was in particular responsible for a number of financing transactions including the IPO of Rocket Internet as well as various...

Report

Rocket Internet's select companies report positive Q1

Rocket Internet SE reported consolidated revenue of 10 million euros (11.6 million dollars) and a consolidated profit of 75 million euros (87 million dollars) in the first quarter of 2018. Earnings per share amounted to 0.46 euro (0.53 dollar) for the period. "In the first quarter of 2018, our selected companies continued to make progress on...

Management

Select companies under Rocket Internet manage to trim losses in FY17

Rocket Internet SE's aggregate revenue across the selected companies in the focus sectors food & groceries, fashion, general merchandise and home & living grew by 28 percent from to 2.64 billion euros (3.25 billion dollars) in 2017, while the aggregate adjusted EBITDA margin improved by 5 percentage points from negative 15.4 percent in 2016 to...

Management

Rocket Internet manages to cut EBITDA losses by 48mn euros

Rocket Internet has announced that its selected companies have taken further significant steps towards profitability. The aggregate adjusted EBITDA margin improved from a weighted average of negative 19 percent in the first nine months 2016 to negative 12 percent in 9M 2017. The company added that selected companies continued to grow revenue,...

Report

Rocket Internet cuts losses, H1 revenues rise 29 percent

Rocket Internet said that its selected companies demonstrated further growth and improvement in profitability in the first half of 2017. Aggregate revenue across the focus sectors food & groceries, fashion, general merchandise and home & living grew by 29 percent to 1.24 billion euros (1.45 billion dollars). The aggregate adjusted EBITDA margin...

Report

Alibaba invests 1bn dollars to acquire remaining stake in Lazada

Alibaba is all set to acquire Kinnevik and Rocket Internet’s remaining stake in online Southeast Asian platform Lazada for around 1 billion dollars. While Kinnevik’s stake in Lazada stands at 3.6 percent, Rocket Internet holds 8.8 percent stake in the company. In April 2016, Alibaba acquired slightly less than half of Kinnevik’s shares in Lazada...

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Kinnevik sells remaining stake in Rocket Internet

Kinnevik, the Swedish investment company that invested total 155 million euros (173 million dollars) in Rocket Internet between 2009 and 2013, has now sold its entire shareholding for a gross aggregate of 426 million euros (477 million dollars). During the five years prior to the company's 2014 IPO, Kinnevik had received 510 million euros (571...

Report

Rocket Internet sells 51 percent of Namshi to Emaar Malls

The online fashion sites group has sold a majority stake in its Middle East platform, Namshi, to Emaar Malls Group for 151 million dollars. The group unsuccessfully tried to buy Souq.com earlier this year. The German online retailers incubator will retain the reminding 49 percent holding in Namshi. The e-tailer made its first annual profit last...

Management

Rocket Internet manages to reduces EBITDA loss in FY16

Rocket Internet has said that aggregate revenue across the focus sectors food & groceries, fashion, general merchandise and home & living grew by 29 percent from 1.7 billion euros (1.8 billion dollars) in 2015 to 2.2 billion euros (2.3 billion dollars) in 2016. The aggregate adjusted EBITDA margin improved by 16.4 percentage points from -31.3...

Management

Rocket Internet’s group firms cut losses on higher revenue

For the first nine months of 2016, Rocket Internet said that the aggregate adjusted EBITDA margin improved significantly at all selected companies from a weighted average of -34.4 percent in the first nine months 2015 to -17.5 percent. It added that while the companies continued to grow revenues, their absolute EBITDA losses decreased by 159...