- Prachi Singh |
During the first nine months of 2015, Rocket Internet said that all the key companies continued their strong operating performance. The proven winners, it said recorded an average weighted net revenues/GMV period-over-period growth of 120 percent for the first nine months of 2015. These companies witnessed further operating leverage with an average EBITDA margin improvement of 4 percentage points.
“Our Proven Winners continue on their strong growth trajectory in 2015, whilst continuously improving their profitability. We are well on track to deliver on the targets communicated during our Capital Markets Day in September 2015,” said Oliver Samwer, Founder and Chief Executive Officer of Rocket Internet.
The company had then said that three of the start-ups should break even by the end of 2017. The company continues to expect to list at least one in the 18 months from September.
Global Fashion Group in emerging markets grew GMV by 61.1 percent. Lazada, the marketplace platform in South East Asia, experienced a 225 percent growth in GMV and HelloFresh grew net revenues by 383.9 percent. Rocket Internet’s Last Portfolio Value (LPV) remained stable at approximately 6.1 billion euros (6.6 billion dollars) owing to no significant funding rounds at the portfolio companies.
Meanwhile, the Supervisory Board of Rocket Internet appointed Marcus Englert as Chairman of the board, who previously served as Deputy Chairman, and Norbert Lang as the new Deputy Chairman. Lorenzo Grabau, former chairman, will continue to support Rocket Internet as a member of the Supervisory Board.