Rocket Internet SE Provides Earnings Guidance for the First Quarter of 2020
May 11, 2020 at 10:11 am EDT
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Rocket Internet SE provided earnings guidance for the first quarter of 2020. For the quarter, the company expects a loss for the first quarter 2020 of approximately EUR -162 million (-1.18 Euro per share). The preliminary result for the first quarter 2020 is significantly impacted by lower valuations of participations, which have declined in a market environment affected by Covid-19. The financial result for the period is expected at approximately EUR -98 million and mainly contains the net changes (losses and gains) in fair value of equity instruments measured at fair value through profit or loss. Further, the share in the result of associated companies and joint ventures is expected to negatively impact the quarterly result by around EUR -48 million.
Rocket Internet SE is a Germany-based company active in the investment management and fund operator industry. The Company identifies, builds, scales and retains ownership of Internet companies. It mainly operates in three sectors: e-commerce, including retail companies in the areas of fashion, general merchandise, home and living, office supplies and food groceries; marketplace, comprising companies active in fields such as real estate, travel, transport and food delivery which offer buyers and sellers venues for direct transactions, among others; and financial technology, containing companies bringing together borrowers and lenders in areas like the consumer and small and medium-sized enterprise segments. As a holding company, Rocket Internet AG holds interests in operating subsidiaries divided into regional Internet groups entailing the geographic regions Africa, Asia Pacific, Latin America and the Middle East. The Company has a controlling interest in HelloFresh GmbH.
ROCKET INTERNET SE 
