• Latest
  • All
  • How To
jumia

Jumia Registers Loss in Q4 2020, Blames COVID-19 Pandemic

February 25, 2021
Nairobi declaration

How Connected Africa Summit 2025 Is Driving Africa’s Digital Transformation

May 30, 2025
kenya-parliament

Parliament Invites Public Feedback on Virtual Asset Bill 2025

May 30, 2025
ConnectedAfrica2025(Day4)-meta-foondamate

Connected Africa 2025 Day 4: FoondaMate and Meta Team Up to Bring AI to Classrooms

May 29, 2025
google-veo-3

Actors and Film Crews Are Worried About Veo 3 Taking Their Jobs

May 29, 2025
DHgate Tablet Cases deals
iOS 26

Apple Plans Big Rename for iOS and macOS at WWDC 2025

May 29, 2025
University student fined for defamatory Facebook posts

University Student Fined KES 7.5 Million for Defamatory Facebook Posts

May 29, 2025
AI Africa policies database

New Platform Brings All African AI Policies Under One Database

May 28, 2025
POATE 2025

Kenya’s Tourism Sector Grows as Travel Gets Easier Across East Africa

May 28, 2025
sodium-ion battery

Researchers Develop Sodium-Ion Battery That Charges to 80% in 6 Minutes

May 27, 2025
TV Gambling Ads

Regulator Fines Stations Using Religious Shows to Push Gambling

May 27, 2025
Connected Africa Summit 2025

Connected Africa 2025 Day 2: Focus on Digital Inclusion & Cybersecurity

May 27, 2025
whatsapp chatbots

iPad Users May Finally Get a Native WhatsApp App

May 28, 2025
Techweez | Tech News, Reviews, Deals, Tips and How To
  • News
  • Entertainment
  • Reviews
  • Features
  • Editorial
No Result
View All Result
Techweez | Tech News, Reviews, Deals, Tips and How To
  • News
  • Entertainment
  • Reviews
  • Features
  • Editorial
No Result
View All Result
Techweez | Tech News, Reviews, Deals, Tips and How To
No Result
View All Result

Jumia Registers Loss in Q4 2020, Blames COVID-19 Pandemic

Kiruti Itimu by Kiruti Itimu
February 25, 2021
in News
Reading Time: 2 mins read
264
0
jumia

Jumia has recently announced its fourth quarter and full year 2020 results and it has some key insights about the company.

The company paints Q4 2020 as a successful quarter. Gross profit increased by 12% year over year to reach €27.9 million. Gross Merchant Value (GMV) was €231.1 million which was a 23% increase quarter on quarter thanks to Black Friday but was down 21% year on year. Gross profit after fulfillment was a record €8.4 million compared to €1.0 million in Q4 2019. Their costs for Q4 were €10.2 million (decrease of 34% YoY) and General and Administrative costs were €21.8 million (36% decrease YoY).

Jumia also announced that they had 6.8 million active customers, an increase of 12% YoY and 8.1 million orders which was down 3% YoY in Q4 2020

However, Jumia still registered a loss. In Q4 2020, they made a loss of €46.932 million and a consolidated loss of €160.958 million for the year 2020. The total loss in 2020 was down from the €227.065 million posted in 2019 which is a step in the right direction for the company. They also mentioned that their Cancellations, Failed Deliveries and Returns (CFDR) as a percentage of GMV fell from 30% to 25%.

Jumia says that as of December 31 2020, they had €304.9 million in cash on their balance sheet which includes €203 million from their offering completed in December.

There are also some interesting insights from the Jumia investor brief. In 2020, Jumia Advertising ran over 1000 ad campaigns for 370 advertisers. Jumia logistics reported that they shipped almost half a million packages for 270 clients including large corporates.

The company said that COVID-19 pandemic affected their business. “Overall, COVID-19 had a net negative effect on the business in 2020. As a result of only limited recourse to nationwide lockdowns across our footprint, the pandemic did not lead to drastic change in consumer behavior nor meaningful acceleration in consumer adoption of ecommerce at a pan-African level. On the other hand, movement restrictions due to localized lockdowns and curfews negatively affected supply and logistics, especially in our food delivery business and in the first and second quarters of 2020 in particular.”

The company is still hopeful of a turnaround. “Our focus continues to be on making further progress towards breakeven and we remain committed to reducing our Adjusted EBITDA loss in absolute terms in 2021 compared to 2020,” they said in the investors brief.

Tags: Jumia
SendShare147Tweet92
Kiruti Itimu

Kiruti Itimu

Culture Editor. Covers the intersection of Tech, Social Media and Web Culture. Tech enthusiast [email protected]

Related Posts

starllink outside region fee in Kenya

Kenyans Buying Starlink Kit From Outside Africa or Unauthorized Dealers Must Pay a Steep Activation Fee

August 25, 2024
Jumia Raises Funds to Accelerate Growth After Profit Improvement

Jumia Plans $100 Million Share Sale to Boost Growth and Profitability

August 9, 2024
Jumia Gambles on Nigeria to Boost Profitability

Jumia Gambles on Nigeria to Boost Profitability

May 21, 2024
Jumia and Starlink sales and distribution agreement

Jumia Becomes Authorized Dealer for Starlink Kits

October 2, 2023
Jumia believes rural e-commerce presents growth oppurtunities

Rural E-Commerce, the Next Phase of Jumia’s Growth

June 15, 2023
Jumia Kenya Picks Third CEO in Under Two Years

Jumia Kenya Picks Third CEO in Under Two Years

April 12, 2023

Latest

Nairobi declaration

How Connected Africa Summit 2025 Is Driving Africa’s Digital Transformation

May 30, 2025
kenya-parliament

Parliament Invites Public Feedback on Virtual Asset Bill 2025

May 30, 2025
ConnectedAfrica2025(Day4)-meta-foondamate

Connected Africa 2025 Day 4: FoondaMate and Meta Team Up to Bring AI to Classrooms

May 29, 2025
google-veo-3

Actors and Film Crews Are Worried About Veo 3 Taking Their Jobs

May 29, 2025
iOS 26

Apple Plans Big Rename for iOS and macOS at WWDC 2025

May 29, 2025
University student fined for defamatory Facebook posts

University Student Fined KES 7.5 Million for Defamatory Facebook Posts

May 29, 2025

Best devices

budget smartwatches 2025

Best Budget Smartwatches To Buy in Kenya 2025

February 13, 2025

Best Infinix Smartphones To Buy in Kenya 2024

February 13, 2025

Best Laptops for Battery Life in 2024

August 21, 2024

Best “Battery Warrior” Smartphones To Buy in 2024

August 22, 2024

How Connected Africa Summit 2025 Is Driving Africa’s Digital Transformation

May 30, 2025

Parliament Invites Public Feedback on Virtual Asset Bill 2025

May 30, 2025

Techweez is a fast growing influential source of technology news, reviews and analysis by leading tech geeks in the industry.

Follow Us

Editorials

Actors and Film Crews Are Worried About Veo 3 Taking Their Jobs

Samsung QLED TVs Now Officially Certified for Real Quantum Dot Technology

Trump’s Tariffs Will Be the End of Affordable Tech

5 Ways to Prep Your Tech for Resale

The Weaponization of PDFs: How Cybercriminals Are Exploiting a Trusted Format

Introducing A Brainbox Quiz: Techweez’s Monthly Trivia Night!

More News

New Platform Brings All African AI Policies Under One Database

Kenya’s Tourism Sector Grows as Travel Gets Easier Across East Africa

Researchers Develop Sodium-Ion Battery That Charges to 80% in 6 Minutes

Regulator Fines Stations Using Religious Shows to Push Gambling

Connected Africa 2025 Day 2: Focus on Digital Inclusion & Cybersecurity

iPad Users May Finally Get a Native WhatsApp App

  • Terms Of Use
  • Techweez Brand
  • Privacy & Policy
  • Contact Us

© 2024 Techweez - Palahala Media Group may earn a commission when you buy through links on our sites.
A Palahala Media Group Brand. All rights reserved.
.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist

Techweez | Tech News, Reviews, Deals, Tips and How To
Crunchy Cookies 🍪 Ahead!

Hey there! Just a heads-up: we're big fans of cookies - both the digital and edible kind! 🍪 We use our cookies and some from third parties to ensure your browsing experience on our site is smooth sailing and secure.

 

But wait, there's more! We also use cookies to gather stats and insights on how you navigate our site. It's like getting a behind-the-scenes peek at your digital adventures!

 

Don't worry, you're in control. You can adjust your cookie settings anytime to suit your preferences. Feeling curious? Dive into our Privacy Policy for all the juicy details. Happy browsing! 🚀

Functional Always active
Listen, this legal stuff is about as exciting as watching paint dry. But it basically says we only use your stuff for what you asked us to do, and nobody else gets to peek!
Preferences
The technical storage or access is necessary for the legitimate purpose of storing preferences that are not requested by the subscriber or user.
Statistics
It's those sneaky cookie crumbs websites leave behind to count visitors, like counting ants at a picnic! Totally harmless, just for fun facts. The technical storage or access that is used exclusively for anonymous statistical purposes. Without a subpoena, voluntary compliance on the part of your Internet Service Provider, or additional records from a third party, information stored or retrieved for this purpose alone cannot usually be used to identify you.
Marketing
Hey there! Just letting you know we use some fancy gizmos to remember your preferences. This way, we can show you ads that are, well, not completely bananas.
Manage options Manage services Manage {vendor_count} vendors Read more about these purposes
Make cookies
{title} {title} {title}
Techweez | Tech News, Reviews, Deals, Tips and How To
Crunchy Cookies 🍪 Ahead!
To provide the best experiences, we use technologies like cookies to store and/or access device information. Consenting to these technologies will allow us to process data such as browsing behavior or unique IDs on this site. Not consenting or withdrawing consent, may adversely affect certain features and functions.
Functional Always active
Listen, this legal stuff is about as exciting as watching paint dry. But it basically says we only use your stuff for what you asked us to do, and nobody else gets to peek!
Preferences
The technical storage or access is necessary for the legitimate purpose of storing preferences that are not requested by the subscriber or user.
Statistics
It's those sneaky cookie crumbs websites leave behind to count visitors, like counting ants at a picnic! Totally harmless, just for fun facts. The technical storage or access that is used exclusively for anonymous statistical purposes. Without a subpoena, voluntary compliance on the part of your Internet Service Provider, or additional records from a third party, information stored or retrieved for this purpose alone cannot usually be used to identify you.
Marketing
Hey there! Just letting you know we use some fancy gizmos to remember your preferences. This way, we can show you ads that are, well, not completely bananas.
Manage options Manage services Manage {vendor_count} vendors Read more about these purposes
Make cookies
{title} {title} {title}
No Result
View All Result
  • News
  • Reviews
  • Features
  • Editorial
  • Automotive
  • Entertainment

© 2024 Techweez - Palahala Media Group may earn a commission when you buy through links on our sites.
A Palahala Media Group Brand. All rights reserved.
.