Rocket Internet sees profits almost double

German start-up investor Rocket Internet did surprisingly well in the first half of the year. For the first time, profits rose above half a billion euros.

Profit doubled

Rocket Internet posted a net profit of 547.5 million euros in the first six months of the year; in the same period last year, it was 296.6 million euros, indicating that the investor’s main participations therefore performed strongly. Global Fashion Group, which has been listed on the stock exchange since July, saw its turnover increase by 16% to 603 million euros, while furniture provider Home24 recorded a 19% increase in turnover for the first six months of the year.

In terms of African e-commerce platform Jumia, the gross trade volume increased to 521 million euros and turnover increased by no less than 96% in the same period.

Stock exchange preparations

“The first six months are a great start to the year“, said Oliver Samwer, founder and CEO of Rocket Internet. Since the start of 2018, the company has already invested in 15 new Internet companies.

Rocket Internet provides support and investments in Internet and technology companies. Many of the start-ups in which it has already invested are now listed on the stock exchange. Last year, for example, the company listed the online furniture stores Westwing and Home24, a feat it had previously accomplished with HelloFresh. Moreover, in respect of the meal box delivery company, Rocket Internet has meanwhile sold all its shares.