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Jumia Reports $97.6m Pretax Loss In 2024 On Low Sales, FX

Summary by The Whistler Nigeria

Jumia Technologies AG pretax loss moderated by one per cent to $97.559m in the financial year 2024 compared to $98.6m in 2023 as the company’s revenue declined following low sales and impact of foreign exchange. According to the audited financial report obtained by THE WHISTLER, the company recorded a revenue of $45.7m, down 23 per cent year-over-year. Marketplace revenue, comprised of third-party sales, marketing and advertising, and value-adde…

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TechCabal

Jumia share price falls 28% after tepid 2024 performance

Shares of African e-commerce firm Jumia plunged 28% on Friday as investors reacted to its continued losses in 2024 despite improved cost efficiency. Jumia’s share price declined from $3.88 to $2.82, slashing its market capitalisation to $285.2 million—down from $1.3 billion in Q3 2024. The company’s revenue declined by 10% to $167.5 million in reported currency in 2024, and in the fourth quarter of 2024, it made $45.7 million, a 23% reduction ye…

2 days ago

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Tekedia

Jumia Reports Mixed Q4 2024 Results Amid Operational Gains And Revenue Decline

Africa’s e-commerce giant Jumia, on Thursday released its fourth quarter (Q4) 2024 report, showcasing a mixed performance with operational improvements tempered by revenue decline. Jumia reported a revenue of $167.5 million, down 10% year-over-year, compared with $186 million recorded in the previous year. The Gross Merchandise Value (GMV) dropped 12% to $206.1 million. The company’s […] The post Jumia Reports Mixed Q4 2024 Results Amid Operatio…

2 days ago

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innovation-village.com

Jumia Reports $167.5m Revenue in 2024, Cuts Losses by 10% Amid Currency Challenges - Innovation Village | Technology, Product Reviews, Business

Jumia Technologies, Africa’s leading e-commerce platform, reported a 10% decline in annual revenue for 2024, totaling $167.5 million. Despite the drop, the company showcased resilience through cost-cutting measures, improved operational efficiencies, and strategic expansion beyond urban centers. In the second quarter of 2024, Jumia’s reported revenue fell by 17% to $36.5 million, primarily due to currency devaluations in key markets. However, on…

2 days ago

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Nairametrics

Jumia cuts operating loss by 10% in 2024 amid revenue decline

Africa’s e-commerce giant Jumia on Thursday released its earnings statement for Q4 and full year 2024, reporting a 10 % decline year-on-year in its operating loss to $66 million from $73.3 million in 2023. The post Jumia cuts operating loss by 10% in 2024 amid revenue decline appeared first on Nairametrics.

3 days ago

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The Whistler Nigeria

Jumia Reports $97.6m Pretax Loss In 2024 On Low Sales, FX

3 days ago

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Techpoint.Africa

Jumia's 2024 revenue declines to $167m despite uptick in orders outside urban centres

Jumia continued its cost-cutting efforts in 2024, reporting a 10% decline in both revenue and operating loss despite recording an uptick in orders outside urban areas.

3 days ago

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