Rocket Internet Se · HAM:RKET
Rocket Internet — Q1 2018 Earnings Presentation
25 slides from Rocket Internet's earnings presentation, May 29, 2018
Slide 1: Q1 2018 Results for Rocket Internet Group & Selected Companies
Q1 2018 Results for Rocket Internet Group & Selected Companies 29 MAY 2018
Slide 2: Disclaimer
Disclaimer This document is being presented solely for informational purposes and should not be treated as giving investment advice. It is not intended to be (and should not be used as) the sole basis of any analysis or other evaluation. All and any evaluations or assessments stated herein represent
Slide 3: Agenda
Agenda Topic Presenter Q1 2018 Results for Rocket Internet & Selected Companies Peter Kimpel CFO Summary Remarks Oliver Samwer Founder and CEO 3
Slide 4: Rocket Internet's Selected Companies
Rocket Internet’s Selected Companies Public Companies Food & Groceries 8% 36% Privately Held Companies 20% Fashion General Merchandise 28% Home & Living 32% 41% Note(s): percentage indicates Rocket Internet‘s economic ownership held directly as well as indirectly, including beneficial interest throu
Slide 5: Continued Topline Growth
Continued Topline Growth Topline(1) Growth Q1 2017 – Q1 2018 Regional businesses of GFG 71% 44% 25% 18% 18% 4% 4% (9)% Food & Fashion(2) General Home & Living Groceries Merchandise Source: Unaudited consolidated financial information based on IFRS and management reports of HelloFresh, GFG, Jumia, We
Slide 6: Adj. EBITDA Margins Improved Significantly at Selected Companies
Adj. EBITDA Margins Improved Significantly at Selected Companies Margin +7.1pp +0.4pp +6.5pp +7.7pp +4.7pp Improvement (1) (1) (2) Adj. EBITDA 2% Margin (6)% (6)% (7)% (11)% (14)% (14)% (14)% (20)% (27)% Adj. EBITDA Margin Q1 2017 Adj. EBITDA Margin Q1 2018 Source: Unaudited consolidated financial i
Slide 7: Delivery Hero Continues to Deliver Strong Growth in Q1 2018
Delivery Hero Continues to Deliver Strong Growth in Q1 2018 Revenue (EURm) GMV (EURm) Number of Orders (m) +47% +38% +48% 171 1,150 89 832 60 116 Q1 2017 Q1 2018 Q1 2017 Q1 2018 Q1 2017 Q1 2018 Source: Delivery Hero Q1 2018 report. Note(s): Rocket Internet economic ownership as March 31, 2018: 8%..
Slide 8: HelloFresh Continues to Grow While Significantly Reducing Losses
HelloFresh Continues to Grow While Significantly Reducing Losses Revenue (EURm) Adjusted EBITDA (EURm) / Number of Orders (m) Margin (%) +44% +€8m +57% Q1 2017 Q1 2018 296 7 205 (7)% 4 (14)% (22) (30) Q1 2017 Q1 2018 Q1 2017 Q1 2018 Source: HelloFresh Q1 2018 report. Note(s): Rocket Internet economi
Slide 9: Global Fashion Group (GFG)
Global Fashion Group (GFG) Q1 2018 Revenue EURm (1) 237 81 77 75 Source: GFG’s unaudited consolidated quarterly financial statements based on IFRS. Note(s): (1) GFG’s consolidated Revenue excludes Namshi; differences relative to sum-of-the-parts are due to eliminations, holding and other. 9
Slide 10: GFG Consolidated Financials
GFG Consolidated Financials FY FY Q1 Q1 EURm Key Performance Drivers 2016(4) 2017(4) 2017(4) 2018(4) Revenue 886.9 1,095.0 228.7 236.9 Financial % Growth YoY Revenue/ NMV 19.9% 17.6% (FX neutral pro-forma)(1) • NMV constant currency pro-forma growth of 19.9% for Q1, with NMV reaching EUR % Growth Yo
Slide 11: Lamoda
Lamoda FY FY Q1 Q1 EURm Key Performance Drivers 2016 2017 2017 2018 Financial Revenue(1) 302.7 395.1 89.3 81.3 Revenue/ NMV • NMV grew to EUR 83.6m in Q1, growing at 4.7% on a constant currency basis. % Growth YoY (FX neutral)(1)(2) 18.6% 1.5% • Lamoda’s Revenue was EUR 81.3m in Q1, delivering const
Slide 12: Dafiti
Dafiti FY FY Q1 Q1 EURm Key Performance Drivers 2016 2017 2017 2018 Financial Revenue 315.5 365.2 72.4 75.2 Revenue/ NMV % Growth YoY • NMV growth was 21.4% on a constant currency basis, driven in part by the continued 12.5% 24.3% (FX neutral)(1) expansion of the Marketplace offering. • Q1 Revenue w
Slide 13: Zalora & The Iconic
Zalora & The Iconic FY FY Q1 Q1 EURm Key Performance Drivers 2016 2017 2017 2018 Financial Revenue 261.2 323.5 64.9 76.7 Revenue/ NMV % Growth YoY • NMV of EUR 84.7m delivered growth of 37.2% on a constant currency basis and 22.9% 27.9% 30.5% in actual FX terms. (FX neutral pro-forma)(1) • Revenue g
Slide 14: Jumia
Jumia FY FY Q1 Q1 EURm Key Performance Drivers 2016(2) 2017(2) 2017 2018 GMV 357.5 507.0 88.5 151.3 Financial % Growth YoY GMV 41.8% 70.9% • Growth trend trajectory continues with 70.9% YoY growth. Revenue • On constant currency basis more pronounced GMV growth of 95.9% YoY. 84.3 93.8 19.2 28.0 Prof
Slide 15: Westwing
Westwing FY FY Q1 Q1 EURm Key Performance Drivers 2016 2017 2017 2018 Revenue 250.4 265.8 60.1 71.1 Financial GMV/ Revenue % Growth YoY 6.2% 18.4% • Continued acceleration of Revenue growth to 21.4% YoY (constant FX) and 18.4% YoY Gross Profit 106.3 114.1 26.2 30.6 (actual FX) in Q1 2018, driven in
Slide 16: home24
home24 FY FY Q1 Q1 EURm Key Performance Drivers 2016 2017 2017 2018 Revenue 243.8 275.7 67.5 84.5 Financial Revenue % Growth YoY 13.1% 25.2% • Q1 Revenue increased to EUR 84.5m, up 30.1% YoY on a constant currency basis. Gross Profit Profitability 102.1 123.0 29.8 37.9 • Gross profit margin improved
Slide 17: Q1 2018 Results Rocket Internet SE – Consolidated IFRS Income Statement
Q1 2018 Results Rocket Internet SE – Consolidated IFRS Income Statement Q1 Q1 EURm • Revenue increase by 17% primarily driven by higher volume 2017 2018 of FinTech operations. Revenue 8.7 10.2 Other operating income 0.3 0.4 Purchased merchandise and purchased services (4.3) (2.1) • Employee benefits
Slide 18: Q1 2018 Results Rocket Internet SE – Consolidated IFRS Balance Sheet
Q1 2018 Results Rocket Internet SE – Consolidated IFRS Balance Sheet Assets Dec 31 Mar 31 Equity and Liabilities Dec 31 Mar 31 EURm 2017 2018 EURm 2017 2018 Non-current assets Equity Property, plant and equipment 2.9 2.8 Subscribed capital 165.1 165.1 Intangible assets 8.9 8.7 Treasury shares (21.1)
Slide 19: Successful Continuation of Value Crystallization: HelloFresh ABO
Successful Continuation of Value Crystallization On April 18th, Rocket Internet Placed 8% of HelloFresh Shares in an ABO Resulting in a Remaining 36%(1) Ownership Stake EUR Share price since IPO 15 EUR 150m 14 Rocket Gross Cash Proceeds 13 12.3 12 EUR 12.30 +20% €11.5(3) Sale Price Sale Price vs. IP
Slide 20: Successful Continuation of Value Crystallization: Daraz Sold to Alibaba
Successful Continuation of Value Crystallization On May 8th, Rocket Sold Daraz, the Leading Online Shopping Destination in South Asia, to Alibaba, the Leading Chinese eCommerce Company Daraz – Countries of Operation(3) EUR 34m Rocket Realized Amount(2) 5 >460m Pakistan Number of Markets in Total Pop
Slide 21: Successful Share Buyback through Tender Offer on May 9, 2018
Successful Share Buyback through Tender Offer on May 9, 2018 Share price in 2018 EUR EUR 233m 28 Total Repurchase Value 26 €23.6(2) 5.9% Total Rocket Internet Stake Repurchased in Tender Offer 24 22 9.7m 154,374,884 €21.1(1) Number of Shares Rocket Shares Outstanding Repurchased in Tender Offer Post
Slide 22: Strong Cash Reserves
Strong Cash Reserves Cash at Operating Companies Cash at Rocket Internet SE as of April 30, 2018 as of May 15, 2018 c. EUR 0.4b(1) EUR 2.6b EUR 2.3b (Selected Companies and Regional Internet Groups(2)) Gross Cash(3) Net Cash(3) Source: Unaudited management information. Note(s): (1) Cash position inc
Slide 23: Financial Calendar 2018
Financial Calendar 2018 Date Event June 8, 2018 FY 2017 Annual General Meeting September 20, 2018 H1 2018 Results for Rocket Internet & Selected Companies 9M 2018 Results for Rocket Internet & Selected Companies and November 30, 2018 Capital Markets Day (London) 23
Slide 24: Agenda
Agenda Topic Presenter Q1 2018 Results for Rocket Internet & Selected Companies Peter Kimpel CFO Summary Remarks Oliver Samwer Founder and CEO 24
Slide 25: ZA LO RAS
ZA LO RAS THE ICONIC