Pandemic And Political Uncertainty Hit Jumia Technologies Q1 Results, Affects Financial Guidance

  • Jumia Technologies AG JMIA reported a first-quarter FY21 revenue decline of 6.4% year-on-year to €27.4 million.
  • GMV declined 13% Y/Y to €165 million, TPV rose 20.9% Y/Y €42.9 million, and Marketplace revenue rose 5.9% Y/Y to €20.2 million.
  • Under Platform revenue, Commissions revenue rose 8.8% Y/Y to €7.6 million, Fulfillment rose 10.6% Y/Y to €7.1 million, Marketing & Advertising rose 35.6% Y/Y to €1.6 million, Value Added Services declined 12.8% Y/Y to €3.9 million. First, Party revenue fell 34.7% Y/Y to €6.5 million.
  • Non-Platform revenue rose 157.4% Y/Y to €0.7 million.
  • Adjusted EBITDA loss declined 24.2% Y/Y to €27 million, and the operating loss narrowed 23% Y/Y to €33.7 million.
  • Jumia held €485.6 million in cash and equivalents and used €29.5 million in operating cash flow.
  • Q1 of 2021 was the sixth consecutive quarter of positive gross profit after fulfillment expense, which reached €6.2 million, more than doubling Y/Y, while Adjusted EBITDA loss contracted by 24% Y/Y, reaching €27 million, Co-CEOs Jeremy Hodara and Sacha Poignonnec said.
  • Jumia made further inroads in payment and fintech, with 37% of Orders in Q1 of 2021 completed using JumiaPay. The company has raised over $570 million over the past six months, Hodara and Poignonnec said.
  • Guidance: The pandemic-induced uncertainty continues to cast doubt regarding the company’s financial outlook, further intensified by social protests or political disruption in Nigeria in late 2020 and early 2021.
  • Read: Exclusive: Why Citron Research’s Andrew Left Says Jumia Could Be Buyout Target
  • Price action: JMIA shares traded lower by 7.6% at $21.66 on the last check Tuesday.
Market News and Data brought to you by Benzinga APIs
Comments
Loading...
Date
ticker
name
Actual EPS
EPS Surprise
Actual Rev
Rev Surprise
Posted In: EarningsNewsTechMediaBriefs
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!