Its gross profit increased by 82.3 per cent from €8.6 million in the first quarter (Q1) 2018 to €15.7 million in Q1 2019, primarily due to an increase in Marketplace revenue.
Gross merchandise volume (GMV) grew by 58 per cent, leading to a 102 per cent increase in Marketplace revenue
Gross profit margin as a percentage of GMV increased from 5.6 per cent in Q1 2018 to 6.5 per cent in Q1 2019 as a result of increased platform monetisation.
“Jumia delivered excellent results during the period under review: strong GMV growth of 58 per cent leading to 102 per cent growth in marketplace revenue, year-on-year improvement of 356 basis points of Operating loss as a percentage of GMV and further development of JumiaPay, highlighted by the investment by and partnership with Mastercard.
We believe that Jumia is increasingly relevant for consumers and sellers in Africa. Looking ahead, we remain focused on our core operations, driving consumer adoption and engagement on our marketplace, increasing the penetration of JumiaPay, while continuing to improve our financial profile and making a sustainable impact on the continent,” Sacha Poignonnec and Jeremy Hodara, co-CEOs of Jumia.