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Francis Dufay | executive |
Antoine Maillet-Mezeray | executive |
Good morning, ladies and gentlemen. Thank you for standing by. Welcome to Jumia's Results Conference Call for the Fourth Quarter and Full Year 2023. [Operator Instructions] With us today are Francis Dufay, CEO of Jumia; and Antoine Maillet-Mezeray, Executive Vice President, Finance and Operations. We'll start by covering the safe harbor. We would like to remind you that our discussions today will include forward-looking statements. materially indicated differ statements. the may results from in those forward-looking Actual these only today. speak statements our Moreover, may of to forward-looking expectations as We publicly undertake to revise no statements. these update or obligation
risk with XX, discussion on as factors submissions to some our Form SEC. from statements Risk XX-F see forward-looking XXXX, published as today, the a other our Factors For of section differ that cause of as actual of well could the results please the May expressed on the annual report
In the will measures addition, refer to not reported this call, on we certain in IFRS. financial accordance with
You can available over find earnings the non-IFRS that, our reconciliations in release, to financial Francis. press website. With financial hand on measures corresponding our of will measures to Investor these is which Relations IFRS I
for economies everyone, had us High its a adversely of on Welcome, has been Jumia. thanks and power supply African year stage inflation impacted the to and global depreciations you. have the on XXXX and and transformative purchasing impact very have today. in challenging for improve financials been on painful that e-commerce led Upheavals for and obviously with currency fundamental impact. retail a scarcity people. of rates transformation significant embarked joining a came tech our backdrop, for whole rapidly a continent. short-term have consumers. These Against businesses across unsettling of transformation foundation stronger a order we and to company Thank the times establish our business. This
way closed a yet position, we at our and stopped off XXXX, have bold have both decisions marketing stronger As some and paid fundamentals. activities we practices and growth discontinued organization. This much to radically XXXX streamlined poor business expensive looking with We prospects, in financials in go. still early
for million 'XX adjusted the $XX.X quarter. versus 'XX steadily million year $XXX.X to and improving in after full EBITDA of quarter decreased loss Our
million saw continuing million the a leaving of 'XX. Most operations before full from we $XXX.X million 'XX importantly, end of Our liquidity $XXX.X the in the our XXXX the pace in a $XX.X million of of at to for XXXX. from million to from decrease position XXXX, year in $XXX.X reduction of [indiscernible] with loss in tax decreased us liquidity
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Hello, everyone. Francis. Thanks,
performance. our QX Revenue XX% million sales constant a X% reached first-party down with year-on-year up and from 'XX, on of year-on-year a Revenue on a basis. Revenue year-on-year a line start QX top revenue down in was basis. XX% $XX.X currency review Let's on million up XX% and $XX.X million, XX% constant Market-based basis. currency up XX% constant breakdown. currency reached 'XX, in and $XX.X
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to Gross reached $XX.X profit. on profit QX on 'XX, year-on-year XX% in of incentives now customer X% basis. spending and profit constant compared XX% supported to a XX% gross Turning million by reduced and a and Gross as margins currency QX improved in reached GMV promotions. percentage up down 'XX,
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We experienced despite already markets reduced physical growing GMV marketing consecutive developments significantly expenditures. quarters across goods, year-on-year positive have is where X for X
and XX% basis. Moving on on content $X.X content. both currency reached reported a 'XX, million down technology QX to as constant Tech expense year-on-year, in and and
meaningfully the savings remain to committed have costs in in year, we While reduced we driving last the future. further
further developers of rationalize see in we and part committed a DNA, customers compensation, beneficial primarily reduction experience million by Technology a features the 'XX, our and improve tech by implemented. changes have on remain we participants costs expense, the on down infrastructure captured and organizational our decrease within been to costs million expense, XX% products gains to in significant driven platform. staff ongoing, to share-based compensation in a and provisions, sellers. are a was and XX% core to G&A excluding better year-on-year tax share basis. This structure our the developing we currency efficiency and all is personnel share-based of provision $XX.X released XX% expense, year-on-year $X that additional our The an efforts decreased and QX staff include during Africa, for opportunities reached G&A of constant to from Our closer increased software quarter. impact our including and as excluding the locating efficiency. These
cash asset-light sheet CapEx the an 'XX Moving committed to balance to remain QX model. items. on flow $X.X as and was million, in we
reached liquidity financial $XX.X of and million cash cash term comprised million deposits $XXX.X and million in position Our $XX.X and assets. other equivalents, in
Our liquidity compared which in and in $XX.X QX $XXX.X a to QX 'XX. decrease $XX.X amounted position of 'XX QX million, to decrease marks of million in a 'XX a million 'XX of decrease million $XX.X in QX
$XXX.X liquidity our pace Our end preserve decrease $XXX.X million compared at was available cash which $XXX.X reduction position decrease illustrates our the in the a the 'XX to of in of of our liquidity 'XX. The of million, million resources. a decrease marks of efforts to in XXXX
reached reported $XX.X QX of our Foreign million 'XX. to of I'll in Francis, to headwind our negative million hand million 'XX, in activities same liquidity compared now to cash negative of million who down in the compared through used $X.X The on amounted 'XX in walk exchange negative period to position will to impact in operating by contributing $X.X QX XX% position, impact you has exchange been in net 'XX. in 'XX. The over a flow to $XX.X guidance. to compared QX significant our foreign impact a liquidity $X.X million 'XX movements
to our and our profitable cash growth. reducing and committed Antoine. made progress losses we the Thanks, the accelerating are Considering strong efficiency over quarters, towards latest progress
XXXX. at Looking
compared XXXX. cash reduce aim to utilization we to further First, our
we with in based we with remains view nutshell, a our cost to on and believe proposition both the for most that critical. More we well building to that of impact execution Second, project our growth positioned in we African foreign focused come With that are value Top at excluding will orders exchange strategy than appropriate our a opportunity GMV, and line attain. happen the and a strategy, efficiency. to getting an is take breaking and quick consistent increase positive expense from the continent believe can XXXX, our in value, the profitable questions. the even will stronger relevant ready gross We that, not is we medium-term merchandise In ever, impact. capture markets growth manner. strategy that base on in of the to growth potential line e-commerce are a top of
don't [Operator any in closing Instructions] queue. back comments. to any have and hand I the over questions Antoine for Francis now We can
attending. I think everyone, for Thank done. you, we're
Thank you This conclude conference. does today's everybody. much, very
at You time, your your for have a day. lines phone this may disconnect wonderful you participation. and Thank
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