Aggregate revenue of selected companies grew by 29% to EUR 1.24 billion in H1 2017 versus H1 2016 // Aggregate adjusted EBITDA margin of selected companies improved from -19.6% in H1 2016 to -12.0% in H1 2017 // Rocket Internet consolidated loss for the period significantly reduced from EUR -617 million in H1 2016 to EUR -27 million in H1 2017 // Rocket Internet increases pro-forma gross cash position to EUR 1.9 billion
Rocket Internet SE’s (“Rocket Internet” or “the Company”) 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% to EUR 1.24 billion in H1 2017, relative to H1 2016. The aggregate adjusted EBITDA margin improved from -19.6% in H1 2016 to -12.0% in H1 2017 and aggregate adjusted EBITDA losses decreased by EUR 44 million to EUR -161 million in H1 2017.
Highlights of the selected companies’ development in the first half of 2017 include:
HelloFresh, the leading meal kit company with operations in North America, Europe and Australia, showed significant growth in active costumers and servings delivered, which resulted in net revenue of EUR 435 million in H1 2017, a 49.4% increase compared to H1 2016. HelloFresh achieved an adjusted EBITDA margin improvement from -15.7% in H1 2016 to -10.7% in H1 2017 (Q2 2017: -7.4%).
Global Fashion Group, the leading online fashion destination in emerging markets, grew NMV by 33.8% from H1 2016 to EUR 528 million in H1 2017 (with Namshi the Middle Eastern subsidiary excluded for both time periods, since no longer fully consolidated post the Emaar Malls investment in May 2017). The H1 2017 adjusted EBITDA margin improved to -8.6% (Q2 2017: -4.3%) with EBITDA losses improving in the first half of the year from EUR -69.1 million to EUR -43.9 million.
Home & Living companies Home24 and Westwing had a solid first half of the year with significantly improved adjusted EBITDA margins of -9.3% and -4.7% respectively.
Rocket Internet’s consolidated loss for the period significantly improved from EUR -617 million in H1 2016 to EUR -27 million in H1 2017. The Company’s pro-forma gross cash balance increased to EUR 1.9 billion as of end of August 2017.
For an overview of the detailed H1 2017 results for the selected companies, please see the appendix or visit our website. The Rocket Internet Interim Condensed Consolidated Financial Statements for the period ended June 30, 2017 are also available for download at www.rocket-internet.com/investors/financial-information.
