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.

To contact the reporter on this story: Stefan Nicola in Berlin at snicola2@bloomberg.net

To contact the editor responsible for this story: Giles Turner at gturner35@bloomberg.net

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