Rocket Internet owned foodpanda has reported revenues of € 10 million ($11.13 million) in Q1 2016 (74% growth), as compared to € 5.7 million ($ 6.35 million ) in the same quarter last year. For Q1 2016, gross profit was € 9.5 million (95.6% margin, $10.58 million), as compared to € 5.5 million ($6.12 million) in the same quarter last year. It has also reported adjusted EBITDA losses of € 13 million ($14.47 million ) , lower than the loss of € 18.7 million ($20.82 million ) in the corresponding 2015 quarter. The company has € 89.9 million ($100.07 million) in cash reserves this quarter, and a GMV of € 76 million, compared to € 48.4 million ($53.88 million ) in Q1 2015. Foodpanda said that in all its markets, mobile orders accounted for 65% of total orders. In the first quarter of this year, foodpanda got and delivered 6.6 million orders, as compared to 3.8 million orders in the same quarter last year. In FY2015, foodpanda had 22.6 million orders as compared to 8.7 million orders in FY2014. The company states that HelloFresh and foodpanda accounted for net revenues of € 100 million ($111.32 million) in Q1 2016. Reasons for growth: - Rocket Internet, in its presentation, stated that foodpanda’s growth in Q1 2016 was driven by order growth in key markets (unnamed) and continuous increase in commission. - It added that EBITDA loss reduction was due to ‘higher operational efficiency/improved automation.’ - Rocket Internet adds that foodpanda’s customer experience…
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