• Rocket Internet’s Proven Winners and Emerging Stars performance on track • Strong weighted top line growth of 142% in net revenues/GMV and margin improvement for Proven Winners in H1 2015 vs. H1 2014 • Transition of Rocket Internet’s financial reporting to IFRS • Nine new companies launched YTD • LPV increase of EUR 3.4 billion since IPO
During H1 2015, Rocket Internet SE (“Rocket Internet”, “Rocket”, “the Company”) continued to capitalize on the significant market opportunities in the global online economy through its network of companies, which have been performing in line with expectations. The Proven Winners recorded an average weighted net revenues/Gross Merchandise Volume (GMV) period-over-period growth of 142% in H1 2015. The Proven Winners continue to show strong operating leverage with an average EBITDA margin improvement of six percentage points in H1 2015 compared to H1 2014. The Emerging Stars mostly continued on their promising growth trend.
Rocket Internet increased its Last Portfolio Value (“LPV”) by EUR 3.4 billion since the IPO in October 2014, which corresponds to an increase of 38% in the LPV (plus net cash) per share from EUR 32 at IPO to EUR 44 now. The recent financing round at HelloFresh valuing this Proven Winner at EUR 2.6 billion post money contributed EUR 1.1 billion.
Rocket Internet successfully completed its transition to International Financial Reporting Standards (“IFRS”). This is an important step towards the envisaged Prime Standard uplisting and further increases Rocket’s financial transparency. Under IFRS, revenues amounted to EUR 71.3 million in H1 2015, increasing slightly compared to H1 2014. The result for the period changed from a profit of EUR 91.9 million in H1 2014 to a loss of EUR 45.9 million in H1 2015, predominantly driven by one-off effects such as a reduction in deconsolidation gains, by employee benefit expenses and partially offset by higher financial income.
The Rocket Internet platform is well on track to start 10 new companies in 2015, nine of which have been launched to date.
Oliver Samwer, Founder and Chief Executive Officer of Rocket Internet commented: „Our Proven Winners continue on their strong growth trajectory in 2015. The H1 financials demonstrate growth as well as improvements in profitability. Rocket’s transition to IFRS shows the strong progress that we have made in terms of financial reporting in the group and our focus on increasing transparency.“
For an overview of the Proven Winners H1 2015 financials, please see the appendix or visit our website.
Rocket Internet holds a capital markets day in London on September 30th and in New York on October 1st.