R111m loss for Takealot

By Jan Vermeulen for MyBroadband

Takealot grew its gross merchandise value by 34% and revenue by 27%, Naspers reported in its annual results for the period 1 April 2021 – 31 March 2022.

Naspers noted that these percentages represent growth in local currency, excluding mergers and acquisitions.

Takealot’s revenue grew from $606 million (R9.6 billion) last year to $827 million (R13 billion).

It recorded the same trading loss as last year, $7 million (R111 million), or a 1% trading loss margin.

According to Naspers, the Takealot group remained near breakeven.

It also reported that Takealot has over 6,000 employees and 13,428 drivers working for the company.

“The Takealot Group, comprising Takealot.com, Mr D Food, and Superbalist performed well, despite the rebound in offline retail sales,” Naspers stated.

“Takealot.com, our leading ecommerce platform, successfully navigated the challenges of global supply chain constraints across multiple categories, especially consumer electronics,” reported Naspers.

“Takealot.com’s third-party marketplace sales continue to outpace first-party sales and accounted for 52% of total GMV.”

Takealot.com delivered revenue growth of 29% for the year. This drops to 20% when measuring in local currency, excluding mergers and acquisitions.

“Despite increased competitive pressure from bricks-and-mortar retailers, Superbalist, one of South Africa’s leading online fashion destinations, delivered strong revenue growth of 43% and improved its trading loss margin by almost 2 percentage points to 7% during the year,” said Naspers.

“Mr D benefited from increasing awareness of online food delivery, a slower recovery of the restaurant market, and shifting consumer demand online.”

Mr D Food saw a 51% increase in order volumes in the past year and grew revenue by 62%, Naspers stated.

These order volumes are expected to increase next year as Pick n Pay has partnered with Takealot to add its food, groceries, and liquor products to the Mr D app.

Pick n Pay announced in May that Takealot would include a dedicated section for its products in the Mr D app.

This will be available nationwide by the company’s financial year-end.

Naspers highlighted one other South African business — Media24.

It reported that Media24 delivered strong results, underpinned by profitability in every part of its business.

“A recovery over the full year saw revenue increasing by 12% to US$257 million (R4.1 billion) and a trading profit of US$17 million (R269 million),” Naspers said.

“This turnaround performance against the prior year’s losses was bolstered mainly by continued strong growth in digital subscribers 27% and advertising 16%, a robust recovery in print media, and excellent school textbook orders and trade sales.”

Naspers said the turnaround was supported by the leaner cost base established in FY21.

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