Jumia Technologies : Q3 2021 Earnings Release

2020

As reported

Exhibit 99.1

Jumia reports Third Quarter 2021 results

Accelerating usage growth

Orders increased by 28% year-over-year

Annual Active Consumers increased by 8% year-over-year

GMV increased by 8% year-over-year

Lagos, November 16, 2021 - Jumia Technologies AG (NYSE: JMIA) ("Jumia" or the "Company") announced today its financial results for the third quarter ended September 30, 2021.

Results highlights for the third quarter 2021

As reported

In USD million, except percentages

2020

2021

For the three months ended September 30

YoYConstant currency

Change2021

YoY

Change

Annual Active Consumers (million)		6.7		7.3		8.1	%	n.a.		n.a.		n.a.
Orders (million)	6.6		8.5		28.0 %	n.a.	n.a.	n.a.
GMV	220.4		238.1		8.1	%	220.4		239.9		8.9	%
TPV	56.0		64.5		15.1 %	56.0		65.8		17.4 %
TPV as % of GMV	25.4	%	27.1	%			25.4	%	27.4	%
Gross Profit	27.1		25.5		(5.7)	%	27.1		25.7		(5.1)	%
Fulfillment expense	(19.4)		(22.0)		13.3 %	(19.4)		(22.1)		13.6 %
Gross Profit after Fulfillment
expense	7.6		3.5		(54.0)%	7.6		3.6		(52.7)%
Sales and Advertising expense	(7.3)		(24.0)		227.9 %	(7.3)		(24.0)		228.4 %
Technology and Content expense	(7.4)		(9.4)		27.3	%	(7.4)		(9.4)		26.6	%
G&A expense, excluding SBC	(22.9)		(25.2)		10.0 %	(22.9)		(24.9)		8.7 %
Adjusted EBITDA	(27.0)		(52.5)		94.3	%	(27.0)		(52.0)		92.6	%
Operating Loss	(33.3)		(64.0)		92.6 %	(33.3)		(63.7)		91.4 %

"We are pleased to see growth acceleration during the third quarter of 2021 across all reported usage KPIs. Orders for the quarter reached an all-time high of 8.5 million, accelerating by 28% year-over-year, the fastest growth rate of the past 7 quarters. Annual Active Consumers reached 7.3 million, up 8% year-over-year. As a result of the acceleration in consumers and orders, we are reaching an inflection point in the GMV trajectory

leading to an increase in GMV of 8% year-over-year, reaching $238mm," commented Jeremy Hodara and Sacha Poignonnec, Co-Chief Executive Officers of Jumia. "Our growth acceleration strategy initiated at the end of the second quarter of 2021 is starting to pay off. We are making investments in Sales & Advertising and Technology to further enhance consumer education, brand consideration as well as the relevance and convenience of our platform. We believe that these investments are long-term in nature and that accelerating growth will ultimately contribute to profitability, leveraging the strong efficiency gains achieved throughout 2020 and the first half of 2021. We are more than ever confident about the strong growth potential of our markets and our ability to build a growing business across e-commerce and fintech activities."

THIRD QUARTER 2021- BUSINESS HIGHLIGHTS

1. UPDATE ON USAGE GROWTH INITIATIVES

In the third quarter of 2021, we continued executing on the growth acceleration strategy initiated at the end of the second quarter of 2021, with increased investments to support consumer acquisition and retention. We are operating across all areas of the business with a focus on these objectives and have outlined below updates on selected growth initiatives.

Sales and Advertising

We continued ramping-up our Sales & Advertising investments across marketing channels. While online performance marketing spend continues to command the largest share of our marketing investments, we are shifting an increased proportion towards top-of-the funnel initiatives, both online and offline, compared to the 2020 levels.

Online marketing

• We are increasing our investments in online marketing channels, predominantly Facebook and Google, while constantly seeking to optimize the efficiency of these investments. A major change in online marketing, and Facebook marketing in particular, has been the move to a full-funnel approach. This consists of going beyond bottom-of-the-funnel,direct-response ads, into brand awareness campaigns to broaden our audience reach and drive new user adoption. To increase the efficiency of our investments, our data science teams are working very closely with Facebook to enhance campaign structure and brand awareness KPIs, including ad recall uplift, app installs and content views.
• We are building a leading network in Africa of influencers and Key Opinion Leaders (KOLs) on social media. In the month of September, 2021, our network counted over 260 active KOLs across Africa. In the third quarter of 2021, we rolled out a proprietary KOLs management platform that allows us to acquire, manage, track and compensate KOLs in a fully automated manner thereby helping us scale

this channel in an effective manner. While our KOLs network is an essential channel for brand awareness and consumer education it is also a meaningful asset of the Jumia platform, as it allows us to connect brands and sellers with the relevant KOLs in Africa for their specific sectors and audiences.

Offline marketing

• We are ramping-up investments in offline channels with targeted out-of-home campaigns to increase our reach in strategic yet under-penetrated geographical areas. We are also organizing ad-hoc offline activation campaigns in conjunction with relevant commercial events, as was the case earlier in August in the North Coast of Egypt for the launch of Jumia Food in the country.

Consumer incentives

• We are also deploying consumer incentives to support both consumer acquisition and loyalty dynamics. These incentives include targeted free shipping campaigns on certain product categories, price reductions on selected items or categories and vouchers offered to specific consumer segments to drive acquisition, loyalty as well as JumiaPay adoption. In the third quarter of 2021, we deployed our newly launched AI-powered CRM growth tool that allows us to retarget specific customer cohorts with tailored incentives based on their purchase history and user signals (e.g. Jumia Food customers

conversion into Jumia physical goods e-commerce, product cross-selling, etc.) across geographies. Commercial

• The third quarter of 2021 was marked by the week-long Brand Festival campaign, which took place in September. The event saw the participation of almost 80 brands, including blue chip international brands such as Nivea, L'Oreal, Coca-Cola, American Eagle, Oppo, Samsung and many more. The majority of participating brands experienced at least triple-digit GMV growth during the event compared to their weekly GMV average since July 1st, 2021, which demonstrated the event's commercial success.
• The expansion of the grocery category within 'everyday products' remains a key priority, leveraging both our e-commerce platform for planned purchases and our on-demand platform, Jumia Food, for ad-hoc needs.
  o On the e-commerce front, a key success factor to capture planned purchases in the grocery category is the ability to cover the full product spectrum of the grocery basket estimated at around 15,000 to 20,000 Stock Keeping Units (SKUs). To expand our assortment and enhance margins in this category, we are leveraging our first-party capabilities and gradually shifting our relationships with key Fast-Moving Consumer Goods (FMCG) brands from a marketplace to a retail model.
  o On the on-demand front, we continue to progress on the roll-out of dark stores leveraging (i) our e-commerce expertise, including our warehouse management and picking systems, (ii) our on-demand dispatching and fulfillment expertise, as well as (iii) our existing relationships with key FMCG and grocery sellers.

1. JUMIAPAY UPDATE
2. • We continued releasing more products and features to enhance both consumer and merchant experience on JumiaPay.
     o We initiated the roll-out of the "1-click" and "recurring" payment features to provide an even faster payment experience for consumers as well as allow merchant-initiated transactions, such as automatic payments for subscriptions.
     o On the merchant front, we rolled out an improved merchant settlement module alongside an automated dispute resolution center. Our extensive range of value-added services and features while currently only available for merchants within the Jumia ecosystem, will also be available to third-party merchants using the JumiaPay checkout solution.
   • In parallel, we continued expanding the range of digital and financial services available to consumers on the JumiaPay app. In Nigeria for example, customers are now able to book bus tickets via the JumiaPay App, including a proprietary seat mapping selection which will be rolled out in other markets in the near future. In Egypt, we added multiple new billers, including several universities to which students may now pay their tuition fees online via the JumiaPay app as well as a major Arabic content streaming platform, Shahid.
3. MONETIZATION UPDATE: Logistics services to third parties
4. • Our newly launched offering of logistics services to third parties is experiencing very strong momentum, posting yet another volume record reaching 2.9 million packages shipped during the third quarter of 2021, more than doubling quarter-on-quarter, on behalf of 766 clients. The business reached a major milestone in the third quarter of 2021, with quarterly revenue generated from this activity reaching $1 million.
   • Logistics-as-a-serviceclients during the quarter included:

• Galana Oil, a leading oil marketing company in Kenya involved in the import and distribution of petroleum products. It also operates a network of service stations across Kenya under the DELTA brand name. Galana is collaborating with Jumia to expand its logistics capacity to serve its sales outlets and third-party clients across Kenya.
• Platinum S.A., a multi-brand distributor and the sole distributor for Kellogg's in Ivory Coast. It partnered with Jumia to complement its in-house fleet capacity to serve wholesale and modern trade clients across the country.
• Kamioun, a leading FMCG distributor in Tunisia, partnered with Jumia as a delivery solution provider to serve its retailers in the greater Tunis area, enabling faster scaling and improved customer experience.