Jumia Releases Q1 Financial Results for 2021

May 13, 2021
Share this Post: 

African horizontal, Jumia Technologies AG, has released financial results for the first quarter of 2021, ended March 31.

Jeremy Hodara and Sacha Poignonnec, Co-Chief Executive Officers of Jumia, commented:

“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."

Gross profit is up 10.9% year-over-year. The company is seeing a small improvement compared to the year prior, as the world battled with the Covid crisis. The company is furthering its commitment to offering consumers an easier and more efficient way to purchase online from the safety of their homes by implementing a quick commerce (q-commerce) service.

Because of this, the company saw slightly improved traffic and consumer activity on its sites, continuing the company's upward momentum when it comes to annual consumer activity.

The co-CEOs continued:

“Our strategy to increase our exposure to everyday product categories continues to yield positive results,  enhancing the relevance of our marketplace for consumers. We are making further inroads in payment and fintech with 37% of Orders in the first quarter of 2021 completed using JumiaPay. Last but not least, we have raised over $570 million over the past six months, strengthening our balance sheet and increasing our strategic flexibility. We are confident we have all the right ingredients to continue to build a growing business across both  our e-commerce and fintech activities.”

The company also announced that it was ranked 7th in the 2020 Most Influential Brands survey in Egypt. The survey was published by Ipsos in March 2021. The survey, which covered 14 markets and 800 brands worldwide, based its findings on a number of criteria including 'Trustworthiness', 'Leadership', 'Presence', and 'Leading Edge'.

May 13, 2021
Victoria has been writing about property portals and marketplace sites for Online Marketplaces for over 3 years. She is also our resident artist and is responsible for all of the infographic content on the site.

Subscribe to our mailing list to get the famous, free Friday newsletter!

News and analysis to help build better online marketplace businesses, in your inbox, every Friday

Related News

Shutterstock 1932433154
Meet The Speakers at Property Portal Watch Bangkok 2023

We're very excited to be bringing the Property Portal Watch Conference back to Bangkok after a three-year covid hiatus. What...

Read More
Onthemarket Financials
OnTheMarket's 2022 Revenue of £34m 'In line with expectations'

The British property portal OnTheMarket is expecting to announce full-year revenue of around £34m for the year ending 31st of...

Read More
Shutterstock 751956331
Rumours that CoStar is in Talks to Buy U.S. Portal Realtor.com Confirmed by REA Group

The commercial real estate giant CoStar is engaged in talks to buy U.S. number two portal Realtor.com's parent company Move...

Read More
Peopleroundup Rightmove Onthemarket
People Roundup: Ex-Rightmove CEO Peter Brooks-Johnson, OnTheMarket

Rightmove Peter Brooks-Johnson is in the running to become the boss of international multimedia company Future plc when he leaves...

Read More

Editor's Pick