The following is a summary of the Jumia Technologies AG (JMIA) Q1 2024 Earnings Call Transcript:

Financial Performance:

• Jumia reported a Q1 2024 gross merchandise volume (GMV) of $181.5 million, up 5% YoY or 39% on a constant currency basis, driven by enhanced product assortment, efficient marketing, and reduced consumer discounts.

• The average order value (AOV) increased by 3% to $39.6.

• Revenue for Q1 2024 was $48.9 million, a 19% YoY increase or 57% on a constant currency basis.

• Cash burn for the quarter reduced to $19.1 million from $22 million.

• Adjusted EBITDA loss decreased to $4.3 million in Q1, a decrease of 94% on a constant currency basis. However, net foreign exchange losses increased due to currency devaluation, leading to an increased loss before income tax.

Business Progress:

• Jumia's growth strategy is focused on strengthening its core business, improving cash efficiency, and building strong business fundamentals including supply chain improvements, urban expansion, marketing efficiency, and streamlining logistics.

• There was a significant increase in user engagement with JumiaPay, promoting cashless transactions and reducing processing times.

• The company increased the number of pickup station deliveries by 18% YoY in Q1, as part of its logistics network enhancement efforts.

• Jumia is expanding collaborations with new and existing local and international vendors to provide customers with a wide assortment of products at affordable prices.

• By the end of 2024, Jumia aims to have improved its efficiency and cost base across almost 400 cities to reach more customers.

• The company is repatriating cash from various African markets to Germany to offset the impacts of currency fluctuations.

More details: Jumia Technologies IR

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