JMIA - Junia shares slump despite Q4 revenue beat and narrowed EBITDA loss
Jumia (JMIA) shares are down 4.7% pre-market despite reporting upside Q4 revenue of €41.8M, down 15% on the year but about €400K above consensus estimates.The African e-commerce giant grew GMV by 23% on the quarter to €231.1M partly due to Black Friday shopping strength, but the figure was down 21% on the year as the company continues with its business mix rebalancing.Gross profit increased 12% Y/Y and gross profit after fulfillment expense reached a record €8.4M.Fulfillment, Sales & Advertising and General & Administrative expenses (excluding share-based compensation) decreased by 18%, 34% and 36% Y/Y, respectively.EBITDA loss fell 47% on the year to €28.3M.“While 2020 has been a challenging year operationally with COVID-19 related supply and logistics disruption, it has been a transformative one for our economic model, as we firmly put the business on track towards breakeven. In addition, we raised approximately €203 million in a primary offering in December 2020.
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Junia shares slump despite Q4 revenue beat and narrowed EBITDA loss