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JUMIA✪ Jumia reports First Quarter 2021 results Continued progress towards profitability Gross profit increased by 11 % year - over - year Gross Profit after Fulfillment expense was up 149 % year - over - year Adjusted EBITDA loss decreased by 24 % year - over - year Lagos , May 11 , 2021 - Jumia Technologies AG ( NYSE : JMIA ) ( " Jumia " or the " Company " ) announced today its financial results for the first quarter ended March 31 , 2021 . Results highlights for the first quarter 2021 As reported In € million , except percentages 2020 GMV 189.6 TPV TPV as % of GMV 35.5 18.7 % 2021 165.0 42.9 26.0 % For the three months ended March 31 YOY Change As reported ( 13.0 ) % 2020 189.6 Constant currency 2021 YOY Change 180.0 ( 5.1 ) % 20.9 % 35.5 18.7 % 47.9 35.1 % 26.6 % Gross Profit 18.4 20.4 10.9 % 18.4 22.2 20.9 % Fulfillment expense ( 15.9 ) ( 14.2 ) ( 10.7 ) % ( 15.9 ) ( 15.4 ) ( 3.0 ) % Gross Profit after Fulfillment expense 2.5 6.2 149.5 % 2.5 6.8 174.6 % Sales and advertising expense ( 8.9 ) ( 8.1 ) ( 9.1 ) % ( 8.9 ) ( 8.8 ) ( 1.3 ) % Technology and content expense ( 7.2 ) ( 6.9 ) ( 4.2 ) % ( 7.2 ) ( 6.9 ) ( 3.7 ) % G & A expense , excluding SBC ( 24.4 ) ( 20.3 ) ( 17.0 ) % ( 24.4 ) ( 22.4 ) ( 8.1 ) % Adjusted EBITDA ( 35.6 ) ( 27.0 ) ( 24.2 ) % ( 35.6 ) ( 28.6 ) ( 19.6 ) % Operating Loss ( 43.7 ) ( 33.7 ) ( 23.0 ) % ( 43.7 ) ( 35.6 ) ( 18.6 ) % " Our first quarter results reflect solid progress towards profitability . The drivers remain consistent : selective and disciplined usage growth , gradual monetization and continued cost discipline . The first quarter of 2021 was the sixth consecutive quarter of positive gross profit after fulfillment expense , which reached € 6.2 million , more than doubling year - over - year , while Adjusted EBITDA loss contracted by 24 % year - over - year , reaching € 27.0 million " , commented Jeremy Hodara and Sacha Poignonnec , Co - Chief Executive Officers of Jumia . " Our strategy to increase our exposure to everyday product categories continues to yield positive results , enhancing the relevance of our marketplace for consumers . We are making further inroads in payment and fintech with 37 % of Orders in the first quarter of 2021 completed using JumiaPay . Last but not least , we have