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Jumia Reports First Quarter 2021 Results; Continued Progress Towards Profitability
May 11, 2021 GMT
Gross profit increased by 11% year-over-yearGross Profit after Fulfillment expense was up 149% year-over-yearAdjusted EBITDA loss decreased by 24% year-over-yearLAGOS, NIGERIA / ACCESSWIRE / May 11, 2021 / Jumia Technologies AG (NYSE:JMIA) ( Jumia .
Gross profit increased by 11% year-over-yearGross Profit after Fulfillment expense was up 149% year-over-yearAdjusted EBITDA loss decreased by 24% year-over-yearLAGOS, NIGERIA / ACCESSWIRE / May 11, 2021 / Jumia Technologies AG (NYSE:JMIA) ( Jumia .
Gross profit increased by 11% year-over-year
Gross Profit after Fulfillment expense was up 149% year-over-year
Adjusted EBITDA loss decreased by 24% year-over-year
LAGOS, NIGERIA / ACCESSWIRE / May 11, 2021 / Jumia Technologies AG (NYSE:JMIA) (“Jumia” or the “Company”) announced today its
Jumia Technologies AG: Jumia Reports First Quarter 2021 Results; Continued Progress Towards Profitability year-over-year was up 149% year-over-year year-over-year
LAGOS, NIGERIA / ACCESSWIRE / May 11, 2021 / Jumia Technologies AG (NYSE:JMIA) ( Jumia or the Company ) announced today its financial results for the first quarter ended March 31, 2021.
Results highlights for the first quarter 2021
For the three months ended March 31
As reported
2.5
(24.4
% Our first quarter results reflect solid progress towards profitability. The drivers remain consistent: selective and disciplined usage growth, gradual monetization and continued cost discipline. The first quarter of 2021 was the sixth consecutive quarter of positive gross profit after fulfillment expense, which reached €6.2 million, more than doubling year-over-year, while Adjusted EBITDA loss contracted by 24% year-over-year, reaching €27.0 million , commented Jeremy Hodara and Sacha Poignonnec, Co-Chief Executive O
Nigeria’s Naira is one of Africa’s low-performing currencies so far in 2021 after dropping 2.85 percent of its value against the United States dollar in the forex market.
The Naira closed at 393.4 to a dollar on Friday compared to 382 to a dollar recorded on January 1, according to data compiled by www.exchange-rates.org, a currency tracking website and analysed by Ripples Nigeria.
Among the 28 countries surveyed, Nigeria is only behind Libyan Dinars, which came first among the worst performing African currencies since the beginning of the year. It shed 228.8 percent in value against the dollar from 1.35335 a dollar on January 1 to 4.44985 as at January 5.
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