Sea Group, Southeast Asia's Major Online Shopping Company Announced the Third Quarter Financial Results. It was in the red due to overseas expansion and investment business
On November 16, "Sea Group," the parent company of "Shopee," a major online shopping company in Southeast Asia, announced its financial results for the third quarter of 2021. Sales increased 121.8% from the same period of the previous year to 2.7 billion dollars (approximately 308.4 billion yen). Adjusted EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) was a deficit of 166 million dollars (approximately 19 billion yen). The main reasons for the deficit are the expansion of the company's overseas online shopping business and the investment of large amounts of money in start-up companies. In the online shopping-related business, sales increased 134.4% from the same period of the previous year to 1.5 billion dollars (approximately 171.3 billion yen). From the latter half of September 2021, Sea Group has expanded into three European countries, Poland, France and Spain, and India, accelerating business expansion. In addition, it has recently invested in companies closely related to its own game (especially mobile game) and financial business. It has invested a total of 1 billion dollars in the investment business.
Sources: The Company's Financial Results Announcement Material "Sea Limited Reported Third Quarter 2021 Results" (November 16, 2021)
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