April 13, 2018 / 6:20 AM / 5 months ago

Rocket Internet start-ups trim losses

BERLIN, April 13 (Reuters) - German ecommerce investor Rocket Internet reported more progress in narrowing losses at its leading start-ups on Friday and said it still had plenty of cash, although it would also consider other funding options.

Rocket Internet reported aggregate sales rose 28 percent in 2017 to 2.64 billion euros ($3.25 billion) at its top start-ups, while they improved their aggregate adjusted earnings before interest, taxation, depreciation and amortisation (EBITDA) margin to minus 10.3 percent from minus 15.4 percent a year ago.

Rocket said it had gross cash of 2.7 billion euros, plus 0.5 billion at individual companies, as of the end of March, adding it continued to evaluate private funding and other funding alternatives for its companies. ($1 = 0.8118 euros) (Reporting by Emma Thomasson Editing by Maria Sheahan)

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