Rocket Internet Sits on $3.3 Billion Cash Pile After IPOs
- Net profit climbed to $605 million in the first half
- German startup incubator sees Ebitda rising this year
A Jumia Technologies distribution center in Lagos.
Photographer: George Osodi/BloombergThis article is for subscribers only.
Rocket Internet SE is still sitting on a sizable cash pile after it generated a profit of 548 million euros ($605 million) in the first half of the year, after several of its largest startup investments sold shares to the public.
Shares in the German startup incubator rose as much as 3.3% in early Frankfurt trading. The company said in a statement Thursday that it now expects earnings, stripping out interest, taxes, depreciation and amortization, to rise this year, but did not put a number on the improvement.