Jumia Technologies AG operates a pan-African e-commerce platform with marketplace, logistics and payment functions across eight African countries. Company updates commonly cover GMV, orders, active customers, revenue, marketplace monetization, fulfillment costs and the path toward improved operating leverage.
Jumia’s recurring announcements also address physical-goods demand, Black Friday activity, country-level trends in markets such as Nigeria and Egypt, liquidity, cash burn and the role of payment gateways and licensed payment-service partners in facilitating transactions on the platform.
Jumia Technologies AG announced an "at the market offering" sales agreement with Citigroup Global Markets Inc. to sell up to 7,969,984 American Depositary Shares (ADSs). The net proceeds will be allocated for general corporate purposes and are contingent upon the market price at which the ADSs are sold. The company has a shelf registration statement effective since July 30, 2020. As of November 27, 2020, the closing price of Jumia's ADSs was $36.89 on the NYSE under the symbol "JMIA." This announcement does not constitute an offer to sell the ADSs.
Jumia Technologies AG (NYSE: JMIA) reported its Q3 2020 financial results, revealing a 28% year-over-year decline in GMV to €187.3 million, due to a strategic business mix rebalancing. Despite this, gross profit increased by 22% to €23.2 million, reflecting significant improvements in operational efficiency. Notably, operating loss diminished by 49% year-over-year to €28.0 million, a three-year low. JumiaPay TPV surged by 50% to €48 million, marking a substantial increase in on-platform payment adoption. The company remains focused on achieving profitability amidst ongoing economic uncertainties.
Jumia (NYSE:JMIA) has expanded its logistics service, now offering it to third-party businesses in 11 African countries. Previously limited to its marketplace vendors, this service allows external companies to utilize Jumia's extensive logistics network and technology. Jumia boasts over 20 warehouses and 1,300 delivery points, significantly enhancing delivery efficiency. The initiative, piloted successfully with various clients, aims to address logistics challenges for businesses particularly during COVID-19, providing better services at lower costs.
Jumia Technologies AG (NYSE: JMIA) is set to announce its quarterly results for the period ending September 30, 2020, on November 10, 2020, prior to the U.S. market opening. A conference call will follow at 8:30 a.m. ET on the same day. Investors can access a live webcast of the earnings call through the Jumia Investor Relations website. Jumia operates as a leading e-commerce platform across 11 African countries, connecting over 110,000 sellers with consumers while providing logistics and payment solutions to enhance online shopping experiences.
Jumia (NYSE: JMIA) has launched a Food Festival Campaign from October 1 to 31, 2020, to promote meal ordering and support local restaurants affected by COVID-19. The campaign includes partnerships with international chains like KFC, Burger King, and McDonald's, featuring discounts up to 50% and free delivery for consumers. It operates in 8 countries, showcasing over 4,000 food vendors. This initiative aims to boost the food ecosystem and enhance online delivery services amid increased consumer demand for convenience.