Delivery Hero reports FY core profit over predictions

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Delivery Hero reports FY core profit over predictions
Delivery Hero reports FY core profit over predictions

Delivery Hero posted higher-than-expected core earnings for 2023, bolstered by robust order growth.

Delivery Hero (DHER.DE) (opens a new tab) reported above-guideline core earnings for 2023 on Monday, boosted by strong order growth, sending shares up 11.4% in early Frankfurt trade.

Following the pandemic-driven surge in orders, delivery companies have concentrated on achieving long-awaited profitability as they struggle to retain consumers.

The German corporation reported full-year adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) of more than 250 million euros, compared to a 623.6 million-euro loss the previous year.

In mid-November, the firm stated that it expected adjusted EBITDA of approximately 250 million euros in 2023.

The corporation also reported 47.6 billion euros ($51.3 billion) in gross merchandise value, a popular figure used by delivery companies to calculate the total worth of all goods supplied. This was a 6.7% increase over the previous year, falling within the company’s 5-7% projection range.

For 2024, Delivery Hero expects group GMV growth of 7-9%, as well as adjusted earnings before interest, taxes, depreciation, and amortization of 725-775 million euros.

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