The e-commerce group Coupang Inc. has increased its turnover in the 2024 financial year, not least because of the takeover of the online fashion platform Farfetch at the end of January last year. However, high losses of newcomers and further disposable loads slipped the group win.
According to a message published on Tuesday, Coupang’s turnover in the past year was just under $ 30.3 billion (28.9 million euros). This corresponded to an increase of 24 percent (currency -adjusted +29 percent) compared to 2023.
Farfetch has contributed almost $ 1.66 billion to total sales since consolidation. Adjusted for this factor, the revenue of the group increased by 17 percent (currency -adjusted +23 percent).
Coupang’s profit, however, decreased considerably because Farfetch had to accept a net loss of $ 352 million in the course of the year. In addition, since other negative one-off factors burdened the result, the net profit of the group due to the shareholders decreased by $ 89 to $ 156 million (149 million euros) compared to the previous year. Adjusted for special effects and the loss of Farfetch, he shrank by twelve percent to 407 million euros.