Jumia’s 2017 Financial Results indicate growth year over year

Jumia Pay

Jumia, Uganda’s leading online eCommerce ecosystem, recently released the 2017 financial results indicating a growth in the Gross merchandise volume (GMV) by 64,5% to 197,9 MEUR in the fourth quarter of 2017, compared with 120,2 MEUR in fourth quarter 2016.

There was also a significant increase in the number of orders on the marketplace platforms Year over Year growth of +94% in Q4 2017. This saw the GMV increase by 41.8 % year over year from 357.5 MEUR in 2016 to 507 MEUR in 2017, attributed to improved macro-economic conditions, as well as an increase in the number of active merchants as well as products and services available.

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Jumia is becoming more relevant and is increasingly addressing daily needs of consumers across its markets, resulting in a strong increase in the number of orders and growth of customer base.

The 2017 Jumia Financial Results Highlights

  1. Jumia reached the threshold of 550 million visits across Africa in 2017. The number of products available on the platform also skyrocketed from 50,000 in 2012 to over 5 million in 2017.
  2. The 2017 Black Friday was a huge success with more than 100 million visits, breaking all previous sales records across all topline drivers (new customers, orders, items sold, visits).
  3. JumiaPay, the company’s own payment platform, was launched to further facilitate transactions between merchants and consumers and tailor its solutions to specific local needs and requirements.
  4. Jumia One, a consumer-facing payment mobile application enabling customers to easily access digital services such as Airtime/Data, TV, Utilities, was also launched. The app is already integrating more online and financial solutions to help consumers save time and money and access a large set of different services from a one stop shop App.
  5. Over 8 million packages were handled through the Jumia logistic platform.
  6. Adjusted EBITDA for 2017 stood at a negative 120.1 MEUR, while EBITDA margin as a percentage of GMV was -23.7% (compared to -25.5% for the previous year), reflecting the continued investment in building the ecosystem as well as the continuous improvement in efficiency. Adjusted EBITDA is calculated as operating profit or loss before depreciation of property, plant and equipment, amortization of intangible assets and share-based compensation expenses.

Read About: Need fresh groceries delivered at your home? Try Jumia Fresh

The Complete Report

Key Financials (EURm)Q4 2016Q4 2017FY 2016FY 2017
GMV (EURm)120.2197.9357.5507
% growth0.6450.418
Gross profit8.47.930.227
% margin0.2790.2160.3580.288
Adjusted EBITDA -14.9-39.4-91.3-120.1
% margin-0.498-1.079-1.083-1.28
% of revenue0.0220.0310.0180.024
Balance Sheet (EURm)31/12/201631/12/2017
Net working capital -12.2-10.1
Cash position29.529.09
Key Performance Indicators (m)Q4 2016Q4 2017FY 2016FY 2017
Total orders
% growth0.9410.683
Active customers (LTM) 1.52.2
% growth0.467
  • Capital expenditure is calculated as purchase of property, plant and equipment plus acquisition of intangible assets.
  • Net working capital is calculated as inventories plus trade and other receivables plus prepaid expenses minus trade and other payables.
  • GMV indicates the total value of total orders including shipping fees, VAT and before deduction of any discounts/vouchers
  • Deviation to prior publications of GMV is primarily attributable to alignment of foreign currency conversion method to Jumia’s key financials and due to alignment of GMV definition to industry practice
  • Pro-forma cash position of EUR 245m includes cash on balance sheet plus capital commitments.


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