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Jumia Posts Gross Profit Of €32.9m In 6 Months

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Jumia Plc has posted a gross profit of €32.946 million in its six months financial results for the period ended June 30, 2019. The company in a consolidated statement of comprehensive income showed a growth of 88.02 per cent in gross profit over €17.523 million posted in six months ended June 2018.

Speaking on the company’s results, the co-CEOs of Jumia, Sacha Poignonnec and Jeremy Hodara, said, “We continue to deliver on our financial strategy of generating strong growth of our topline drivers, while accelerating monetization, driving cost efficiencies and developing JumiaPay.”

According to them, during the second quarter of 2019, our Gross Merchandise Volume (GMV) increased by 69 per cent year-on-year and our gross profit grew by 94 per cent.

“Our Adjusted EBITDA loss as a percentage of GMV decreased by 562 basis points (5.62 percentage points) and our operating loss, amounting to €66.7 million, decreased as a percentage of GMV by 148 basis points (1.48 percentage points).

“These results reflect our continued focus on offering a relevant and engaging online shopping and lifestyle destination for consumers, while providing our sellers with an attractive value proposition and a platform to grow their businesses. We remain focused on all aspects of our growth strategy, particularly JumiaPay, as we continue to drive its usage in our markets.”

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