Jumia’s annual loss narrows to $97.6m as liquidity rises
Jumia Technologies AG, listed on the New York Stock Exchange, saw its loss before income tax from continuing operations narrow to $97.6 million last year from $98.6 million in 2023.
Its financial results released on Thursday show that the e-commerce firm generated revenue of $167.5 million, down 10% year-over-year, or up 17% in constant currency.
The company’s liquidity position stood at $133.9 million, marking an increase of $13.4 million in 2024, compared to a decrease of $106.9 million in 2023.
“I am proud of what we have accomplished in 2024. We saw robust growth in secondary cities, expanded our supply from international sellers, and further improved marketing efficiency,” CEO Francis Dufay said. “As we look ahead to 2025, I am optimistic about Jumia’s future. The business is stronger and more efficient than it was just two years ago, and I believe we have a good opportunity ahead of us.”
He said the company’s priorities for the year “are to build on this momentum by driving top-line growth and improving operational efficiencies”.
“We plan to double down on expansion outside the main urban centers, expand our product assortment with competitive pricing, and strengthen relationships with international sellers. To improve our path to profitability, we will continue to enforce cost discipline and enhance operational and marketing efficiency. I am confident that we are well-positioned to deliver sustainable growth and achieve profitability,” he added.
