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Rocket Internet Shrinks Losses, Boosts Sales at Biggest Startups

Rocket Internet Shrinks Losses, Boosts Sales at Biggest Startups

Rocket Internet SE increased sales and shrank losses at some of its biggest startups, bringing the company closer to a target of having three of its main investments break even by the end of this year.

Food-box startup HelloFresh boosted sales 49 per cent to 158.7 million euros (£135.08 million) in the fourth quarter. Adjusted losses before interest, tax, depreciation and amortization narrowed at businesses including HelloFresh, Global Fashion Group and Dafiti, Rocket said Tuesday. Overall, Rocket reported a loss of 741.5 million euros for 2016, weighed down by impairment charges and deconsolidation of subsidiaries.

“In 2016, our selected companies progressed on their path towards profitability, while demonstrating further growth,” Chief Executive Officer Oliver Samwer said in a statement.

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