Rocket Internet ends the first quarter of 2020 with deep red numbers. The company puts the quarterly loss at 162 million euros after a profit of 140 million euros in the first quarter of last year. The results of the Berlin company usually fluctuate strongly due to the business model. The company estimates the quarterly loss per Rocket Internet share at EUR 1.18 and sales at EUR 20 million. The net liquidity is 1.9 billion euros.
“Despite the Covid-19 pandemic that started in March 2020 and the associated negative effects on business, Rocket Internet’s selected companies performed well in the first quarter of 2020,” the Berlin-based company continued on Thursday. The group holds stakes in Home24 and the Global Fashion Group, among others.
“Overall, the uncertainty surrounding the development of many of our companies has increased significantly due to the Covid-19 pandemic and has a negative impact on both valuations and the operating result. We think this will remain so in the short and medium term, ”says Rocket boss Oliver Samwer. “Despite the current negative impact, my expectation is that the pandemic will accelerate digitization in many industries as soon as the economy recovers,” said the manager.
At a glance – chart and news: Rocket Internet