• About Hisa Technologies
  • Advertise
  • Careers
  • Contact Us
  • Estate Cloud
Sunday, April 11, 2021
  • Login
  • Register
No Result
View All Result
NEWSLETTER
Kenyan Wallstreet
  • Home
  • News
    • Kenyan News
    • African News
    • Global News
  • Business
    • Agriculture
    • Banking
    • Aviation
    • Energy
    • Manufacturing
    • Markets
    • Personal Finance
    • Technology
    • Startups
  • Podcast
  • Videos
  • Events
  • Blockchain & Digital Currencies
  • Home
  • News
    • Kenyan News
    • African News
    • Global News
  • Business
    • Agriculture
    • Banking
    • Aviation
    • Energy
    • Manufacturing
    • Markets
    • Personal Finance
    • Technology
    • Startups
  • Podcast
  • Videos
  • Events
  • Blockchain & Digital Currencies
No Result
View All Result
Kenyan Wallstreet
No Result
View All Result

Jumia Reports 2020 Earnings

Jackson OkothbyJackson Okoth
February 27, 2021
in African News
Reading Time: 3min read
Jumia NYSE

Jumia Technologies AG posted a 12% increase in gross profit of US$ 33.8 Million(€27.9 Million) for the period ended December 31st, 2020.

The e-commerce company published both Q4, 2020 financials, as well as the 2020 end year earnings.

Merchandise sold by Jumia

The total value of merchandise sold over the three months by the e-commerce platform, with a presence in several African countries including Kenya, was US$ 280.2 Million, a quarter-on-quarter acceleration of 23%. This was supported by the Black Fridays event in November 2020.

ADVERTISEMENT

However, value of merchandise sold fell 21% year-over-year, a decline that is blamed on Jumia’s business mix rebalancing initiated in late 2019 continued playing out during the fourth quarter of 2020.

Sales & Advertising expense was US$ 12.4 Million, a yearly decline of 34%.

General & Administrative costs, which exclude share-based compensation expense, reached US$ 26.4 Million, a decrease of 36% year-over-year.

EBITDA

Adjusted EBITDA loss was US$ 34.3 Million, the firm’s overall financial performance decreasing by 47% year-over-year.

JumiaPay TPV, a measure of the total dollar amount of payments transacted over its platform), reached US$ 71.9 Million, yearly growth of 30%.

According to Jumia Co-Chief Executive Officers Jeremy Hodara and Sacha Poignonnec, 2020 presented significant operational challenges to Jumia due to COVID-19 related supply and logistics disruption.

Also, Jumia raised approximately US$ 246.1 Million in a primary offering in December 2020. This strengthened its balance sheet, enhanced its business and move towards profitability according to the CEO.

The online seller’s top three selling categories was fashion, beauty and home & lifestyle.

The platform’s Logistics moved 4.8 million packages during Black Fridays, more than double the monthly average for the rest of the year.

In parallel, the online shopping platform is enhancing its technology stack. It has developed a broader range of ad solutions and features for more granular audience targeting based on search terms, price points, geolocation.

This is in addition to the typical user signals of browsing, add-to-cart data and purchasing history.

Active consumers on this platform reached 6.8 million in the fourth quarter of 2020, up 12% year-over-year with continued growth.

Customers ordering on this e-commerce platform hit 8.1 million, a yearly decline of 3%. This is on the back of a 14% decrease in digital services transactions on the JumiaPay app. The rest of the platform had stable order numbers.

ALSO READ: Jumia Cuts Operating Losses by 49% to $33 Million as Pandemic Disruptions Slow



Hisa App
Previous Post

Bitcoin Crashes to Below $47K as Coinbase Files for IPO

Next Post

Public Apology on Cytonn Investments Management Limited

Related Posts

Mo Dewji, Only East African on Forbes List of 18 Richest Africans

Mo Dewji, Only East African on Forbes List of 18 Richest Africans

April 9, 2021
KenGen Bags KSh440 Million Geothermal Tender in Ethiopia

KenGen Earns KSh440 Million from Geothermal Tender in Ethiopia

April 9, 2021

WorldRemit Founder Ismail Ahmed Commits $500 million to Philanthropy

April 8, 2021

Mastercard Invests $100 Million into Airtel Mobile Commerce BV, Airtel’s Mobile Money Business

April 1, 2021

Uganda’s Tugende Raises $3.6 Million in Series A Funding

April 1, 2021

Coca Cola Mulls Sale of its $6 Billion Africa Unit

March 31, 2021

AU Signs Deal with Johnson & Johnson for COVID-19 Vaccines

March 30, 2021

Airtel Africa Ink Deal to Sell Towers in Madagascar, Malawi to Helios for $129M

March 29, 2021
Load More
Next Post

Public Apology on Cytonn Investments Management Limited

Follow Us

  • 7.2k Fans
  • 114.9k Followers
  • 453 Followers

WhatsApp

Subscribe

Telegram  

Subscribe

Podcasts

Upcoming Events

There are no upcoming events.

View Calendar
Add
  • Add to Timely Calendar
  • Add to Google
  • Add to Outlook
  • Add to Apple Calendar
  • Add to other calendar
  • Export to XML

Featured

Angaza Awards Top 10

Introducing The Top 10 Women Shaping the Region’s Banking and Finance Sector

April 6, 2021
Dan Aceda On Spotify

Spotify and The Business of Music in Kenya

March 16, 2021
Gamestop

Can the Gamestop Situation Happen in Kenya?

February 21, 2021
Hisa App

Announcing Hisa App Public Beta Launch

February 20, 2021
Absa Kenya CEO Jeremy Awori

Absa Marks One Year Since Transition, Commits KSh1.6 Billion into Digital Products

February 11, 2021

About Us

We are a leading integrated digital content platform providing in-depth business and financial news across Sub-Saharan Africa & the globe. Kenyanwallstreet.com is a property of Hisa Technologies Ltd, a financial media & software company.

Contact Us

Kenyan Wall Street
Email: [email protected]
Website: www.kenyanwallstreet.com

Disclaimer

The information contained in this website is for general information purposes only.
Read more..

  • About Hisa Technologies
  • Advertise
  • Careers
  • Contact Us
  • Estate Cloud

Copyright 2021. Hisa Technologies. All Rights Reserved.

No Result
View All Result
  • Home
  • News
    • Kenyan News
    • African News
    • Global News
  • Business
    • Agriculture
    • Aviation
    • Banking
    • Energy
    • Global Markets
    • Healthcare
    • Infrastructure
    • Insurance
    • Investment
    • Manufacturing
    • Markets
    • Public Policy
    • Real Estate
    • Startups
    • Technology
  • Podcast
  • Videos
  • Events

Copyright 2021. Hisa Technologies. All Rights Reserved.

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?