Rocket narrows losses, boosts revenue at portfolio companies
April 16, 2018
German company builder Rocket Internet has narrowed its own losses and seen revenues improve at a group of key portfolio companies.
Revenues within its 'selected companies' group, which includes meal-kit company HelloFresh, online fashion platform Global Fashion Group and the Africa-focused ecommerce platform Jumia, rose by 28% from €2.06 billion in 2016 to €2.64 billion last year.
Online furniture startups Home24 and Westwing also belong to that stable of businesses.
HelloFresh increased revenues by more than 50% to almost €905 million in 2017 year-on-year, and improved its adjusted EBITDA margin from -13.8% to -7.7% over the same period.
Rocket itself saw a decline in revenues from €50.4 million in 2016 to €36.8 million last year, mainly due to the sale of businesses previously included in the reporting.
Read our November report on Rocket's progress here.