Rocket Internet Se · HAM:RKET

Rocket Internet — H1 2016 Earnings Presentation

30 slides from Rocket Internet's earnings presentation, Sep 22, 2016

1. Slide 1: H1 2016 RISE & Selected Portfolio Companies Results

   H1 2016 RISE & Selected Portfolio Companies Results 22 SEPTEMBER 2016

2. 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

3. Slide 3: Agenda

   Agenda Topic Presenter Peter Kimpel 1 H1 2016 Financial Results CFO Rocket Internet - Selected Portfolio Companies - RISE Group Oliver Samwer 2 Summary Remarks CEO Rocket Internet 2

4. Slide 4: Selected Portfolio Companies H1 2016 Results

   Selected Portfolio Companies H1 2016 Results

5. Slide 5: Rocket Internet's Selected Portfolio Companies at a Glance

   Rocket Internet’s Selected Portfolio Companies at a Glance H1 2015 H1 2016 Improvement (EURb) Aggregate 0.94 1.29 GMV(1) YoY Growth: 38% H1 2015 H1 2016 (EURb) Aggregate 0.79 1.04 Net Revenue YoY Growth: 32% H1 2015 H1 2016 (%) Aggregate Adj. EBITDA (16.7%) YoY Improvement: +15.0pp Margin(2,3) (31.6

6. Slide 6: Continued Improvements on Net Revenue and Adj. EBITDA

   Continued Improvements on Net Revenue and Adj. EBITDA EURm 600 Net Revenue 500 100 100 400 300 0 0 200 Q1 2015 Q2 2015 Q3 2015 (2) Q4 2015 (3) Q1 2016 Q2 2016 Q1 2015 Q2 2015 Q3 2015 Q4 2015 Q1 2016 Q2 2016 100 Adj. EBITDA(1) (100) (100) 0 Q1 2015 Q2 2015 Q3 2015 Q4 2015 Q1 2016 Q2 2016 (100) (200)

7. Slide 7: Continued Increase in Net Revenue

   Continued Increase in Net Revenue EURm 95 (43) 15 1,043 188 788 H1 2015 Food & Groceries Fashion General Merchandise Home & Living H1 2016 Source: Unaudited consolidated financial information based on IFRS and management reports of HelloFresh, foodpanda, GFG, Jumia, Westwing and home24. Please refer

8. Slide 8: Continued Topline Growth

   Continued Topline Growth Topline(1) Growth H1 2015 – H1 2016 159% Regional businesses of GFG 72% 50% 32% 34% 26% 22% 15% 8% 5% (10%) Overall weighted average Food & General Home Groceries Fashion(2) Merchandise & Living Source: Unaudited consolidated financial information based on IFRS and managemen

9. Slide 9: Adj. EBITDA Margins Improved Significantly at All Major Companies

   Adj. EBITDA Margins Improved Significantly at All Major Companies Average Average (32%) (17%) Adj. EBITDA margin H1 2015 (1) (19%) Adj. EBITDA margin H1 2016 (16%) (37%) (2) (17%) (33%) Adj. EBITDA (15%) margin percentage (16%) point improvement (6%) (H1 2016 / H1 2015) (37%) 15.0pp (10%) Regional b

10. Slide 10: Losses Reduced as Companies Scale

    Losses Reduced as Companies Scale Margin +23pp +20pp(2) +19pp +11pp +3pp(2) +3pp +15pp Improvement (1) Total EURm (10) (21) (28) (25) (35) (37) (35) (39) (68) (44) (46) (121) (212) Adj. EBITDA H1 2015 in EURm (296) Adj. EBITDA H1 2016 in EURm Adj. EBITDA margin percentage point x pp improvement (H1

11. Slide 11: HelloFresh

    HelloFresh Q2 Q2 H1 H1 EURm 2015 2016 2015 2016 Key Performance Drivers Net Revenue 67.1 150.1 112.5 291.5 Financial  Continued topline growth, almost reaching EUR 300m net revenue in H1 2016 % Growth YoY 123.7% 159.1%  Significant margin improvement through economies of scale and increasing effic

12. Slide 12: Foodpanda

    Foodpanda Q2 Q2 H1 H1 EURm 2015(2) 2016 2015(2) 2016(3) Key Performance Drivers GMV 57.1 87.3 105.5 163.1 Financial  Significant revenue growth in H1 2016 (+72% on H1 2015; +84% at % Growth YoY 52.9% 54.6% constant currency) as a result of increasing order numbers and higher take rates in all key m

13. Slide 13: Global Fashion Group

    Global Fashion Group H1 2016 Net Revenue EURm (1) 455.8 135.8 125.6 125.8 67.1 (incl. The Iconic) Source: GFG’s unaudited consolidated financial information based on IFRS. Please refer to the appendix for more information on the figures and any adjustments made. (1) GFG consolidated net revenue, exc

14. Slide 14: GFG Consolidated (excl. Jabong)

    GFG Consolidated (excl. Jabong) Q2 Q2 H1 H1 EURm 2015(2) 2016(2) 2015(2) 2016(2) Key Performance Drivers Net Revenue 206.7 258.9 360.7 455.8 Financial % Growth YoY 25.3% 26.4%  Net revenue and NMV like-for-like growth on a constant currency basis for the group of 37% and 41%, respectively, for Q2 2

15. Slide 15: Lamoda

    Lamoda Q2 Q2 H1 H1 EURm 2015 2016 2015 2016 Key Performance Drivers Net Revenue 63.6 74.0 108.8 125.6 Financial 16.4% 15.4%  Net revenue and NMV growth on a constant currency basis of 49% % Growth YoY and 50%, respectively, for Q2 2016 and of 41% and 43% for H1 2016, despite a weak retail environme

16. Slide 16: Dafiti

    Dafiti Q2 Q2 H1 H1 EURm 2015(2) 2016(2) 2015(2) 2016(2) Key Performance Drivers Net Revenue 65.1 78.6 111.0 135.8 Financial  Net revenue and NMV like-for-like growth on a constant currency % Growth YoY 20.7% 22.3% basis of 14% and 20%, respectively, for Q2 2016 and of 18% and 24% for H1 2016, despi

17. Slide 17: Namshi

    Namshi Q2 Q2 H1 H1 EURm 2015 2016 2015 2016 Key Performance Drivers Net Revenue 26.3 34.4 44.7 67.1 Financial  Net revenue and NMV growth on a constant currency basis of 42% % Growth YoY 30.8% 50.1% and 45%, respectively, for Q2 2016 and of 51% and 51% for H1 2016, despite a challenging macroeconom

18. Slide 18: Zalora (incl. The Iconic)

    Zalora (incl. The Iconic) Q2 Q2 H1 H1 EURm 2015 2016(2) 2015 2016(2) Key Performance Drivers Net Revenue 50.8 71.5 95.1 125.8 Financial  Net revenue and NMV like-for-like growth on a constant currency % Growth YoY 40.7% 32.3% basis of 56% and 61% for Q2 2016 and of 49% and 58% for H1 2016 Gross Pro

19. Slide 19: Jumia

    Jumia Q2 Q2 H1 H1 EURm 2015 2016 2015 2016 Key Performance Drivers GMV 74.3 66.1 130.4 117.7 Financial % Growth YoY (11.0%) (9.7%)  GMV is impacted by challenging macro economic environment in Nigeria, mainly due to FX scarcity and NGN devaluation Net Revenue 42.8 12.0 75.8 33.0  Decrease in net r

20. Slide 20: Africa Internet Group Rebranding Into Jumia

    Africa Internet Group Rebranding Into Jumia AFRICA INTERNET GROUP is the leading 1 Internet platform in Africa  Covering all key online business models 2 SINGLE BRAND with significant operating advantages  One brand across Africa  Leveraging existing customer base across all business models 3 ONE

21. Slide 21: Westwing

    Westwing Q2 Q2 H1 H1 EURm 2015 2016 2015 2016 Key Performance Drivers Net Revenue 57.0 61.3 108.8 117.9 Financial % Growth YoY 7.7% 8.4%  Net revenue growth of 12% in Q2 2016 and of 13% in H1 2016 at constant currency; adverse FX development in Russia and Brazil, Gross Profit 23.8 25.4 44.7 50.2 im

22. Slide 22: Home24

    Home24 Q2 Q2 H1 H1 EURm 2015 2016(2) 2015 2016(2) Key Performance Drivers Net Revenue 57.8 59.6 117.6 123.5 Financial % Growth YoY 3.1% 5.0%  YoY net revenue growth of 6% in Q2 2016 and of 10% in H1 2016 at constant currency; EUR-based net revenue growth of 3% in Q2 2016 Gross Profit 22.0 21.7 43.4

23. Slide 23: RISE Group H1 2016 Results

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24. Slide 24: H1 2016 Results Rocket Internet SE – Consolidated IFRS Income Statement

    H1 2016 Results Rocket Internet SE – Consolidated IFRS Income Statement in EURm H1 2015 H1 2016 Revenue dropped sharply due to deconsolidations in Revenue Q3 2015 (H1 2015: Kanui EUR 21m & Tricae EUR 71.3 28.6 18m) and sale of La Nevera Roja and Pizzabo in Changes in work in progress 0.5 0 2016 Inte

25. Slide 25: H1 2016 Results Rocket Internet SE – Consolidated IFRS Balance Sheet

    H1 2016 Results Rocket Internet SE – Consolidated IFRS Balance Sheet Assets Dec 31 Jun 30 Equity and liabilities Dec 31 Jun 30 in EURm 2015 2016 in EURm 2015 2016 Non-current assets Equity Property, plant and equipment 2.8 2.7 Subscribed capital 165.1 165.1 Intangible assets 129.1 11.9 Capital reser

26. Slide 26: Recent Financing Rounds Overview

    Recent Financing Rounds Overview Previous post- Post-money Financing Round Participation of RISE stake money valuation valuation Size (EURm) RISE post-transaction(1) (EURb) (EURb) 330 ✓ 3.04 1.03 20.4%(2) 20 ✓ 0.98 0.42 42.9%(3) (4) 50 – 0.37 0.15(5) 4.9%(6) (1) Direct and indirect stake (2) Before

27. Slide 27: Strong Cash Reserves

    Strong Cash Reserves Cash at Operating Companies Gross Cash at Rocket Internet SE as of Aug 31st 2016 as of Aug 31st 2016 c. EUR 1.1bn (Selected Portfolio Companies1 and Regional EUR 1.7bn Internet Groups) Note: (1) Selected Portfolio Companies include: HelloFresh, Delivery Hero (as of Jun 30th), fo

28. Slide 28: Summary Remarks

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29. Slide 29: Summary Remarks

    Summary Remarks Continued Growth ✓ (e.g. HelloFresh, foodpanda) Progressing towards Profitability ✓ (e.g. GFG, Westwing, HelloFresh) Reducing Structural Complexity ✓ (e.g. AIG) Maintaining Strong Cash Position of ✓ Rocket Internet SE 28

30. Slide 30: Rocket Internet

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