Rocket Internet posts 31 pct rise in portfolio value since IPO
By Eric Auchard
WALLDORF, Germany May 5 (Reuters) - German e-commerce company Rocket Internet on Tuesday reported that the loan portfolio value of its investments has risen by 2.0 billion euros ($2.23 billion) since its initial public offering last October due in part to its push into online takeaway delivery.
Europe's biggest Internet company said full year 2014 sales of 104.0 million euros ($115.7 million) compared to 72.5 million euros in 2013.
It reported a net loss of 20.2 million euros compared with a profit of 174.2 million in 2013, when results were boosted by the sale of now independent online retailer Zalando.
The Berlin-based company, which holds mostly minority stakes in more than 100 start-ups it has funded since it was founded in 2007, only reports revenue from investments from which it holds a majority stake under German accounting rules.
In its IPO prospectus, the Berlin-based company reported a loan portfolio value (LPV) of 4.47 billion euros for its top 11 companies, which it describes as "proven winners." ($1 = 0.8974 euros) (Reporting By Eric Auchard; Editing by Kirsti Knolle)
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