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Rocket Internet narrows losses at main start-ups
November 30, 2016 / 7:15 AM / 10 months ago

Rocket Internet narrows losses at main start-ups

BERLIN, Nov 30 (Reuters) - German e-commerce investor Rocket Internet said on Wednesday it had managed to rein in losses at its main start-ups and said it had plenty of cash to keep funding the businesses.

Rocket said aggregate revenue of selected companies grew by 31 percent to 1.58 billion euros ($1.68 billion) in the first nine months of the year, a slight slowdown from a growth rate of 32 percent in the first half.

The aggregate adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) margin improved to a negative 17.5 percent from negative 34.4 percent a year ago, with 2.6 billion euros of cash still available. ($1 = 0.9413 euros) (Reporting by Emma Thomasson; Editing by Victoria Bryan)

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