German incubator Rocket Internet’s most important companies have continued their turnover growth in 2016. Losses were also lowered and Rocket Internet says it is well on its way to become profitable soon.
“Towards profitability”
The companies’ average turnover grew 29 % from 1.7 billion euro to 2.2 billion euro as opposed to its EBITDA margin, which dropped from – 31.3 % to -14.9 %. Overall, the average EBITDA loss drop was 234 million euro.
HelloFresh grew 95.8 % to 597 million euro in 2016, with a 14.5 % EBITDA margin improvement to -13.8 % on the back of a 38 % active customer base growth to 857,000 customers. Delivery Hero’s turnover grew from 166 to 297 million euro.
Rocket Internet’s Global Fashion Group, which manages all of its online fashion shops, generated a billion euro turnover last year and its EBITDA margin dropped to 12.5 %. Namshi, active in the Middle East, even managed to become break-even for the first time.
Its online furniture stores, Westwing and Home24, also lowered their EBITDA loss, from 49.9 to 13.8 million euro for the former and from 75.3 to 40.1 million euro for the latter.
“Our most important companies managed to move forward on their path to profitability, while they also continued their growth”, CEO Oliver Samwer said.
