Rocket Internet Posts Hefty Nine-Month Profit on Westwing IPO

(Bloomberg) -- Rocket Internet reported a net profit of 296 million euros ($337 million) in the first nine months of the year after several of its startups grew sales.

  • The company has 2 billion euros in cash after successful IPOs of some of its startups, having investors wonder what CEO Oliver Samwer’s next investment moves will be.

Key Insights

  • Key startups backed by Rocket, including African e-commerce platform Jumia and IPO hopeful Global Fashion Group, reported rising sales.
  • Rocket made 122 million euros in last month’s IPO of home design retailer Westwing in Frankfurt.
  • The company is continuing to buy back shares after purchasing 46 million euros worth of stock until Nov. 23.
  • Rocket still owns 6 percent in Delivery Hero, 31 percent in HelloFresh and 33 percent in Home24 after their IPOs

Market Reaction

  • Rocket sharers are up 10.5 percent so far this year.
  • The company later today will brief analysts and investors at a capital markets day in London.
  • Read more from the statement.

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