Delivery Hero expects food delivery business breakeven in second half of 2022
Reuters
Published Jan 10, 2022 06:06PM ET
(Reuters) - Germany's Delivery Hero SE expects its food delivery business to break even during the second half of 2022, as demand soars with more people eating in since the pandemic began.
The company expects adjusted core earnings of up to 100 million euros ($113.24 million) in the fourth quarter, while investments related to its quick commerce business are estimated to peak in the first quarter and gradually decline thereafter.
The German group has grown rapidly during the coronavirus crisis and has invested heavily in the highly competitive quick commerce space, which aims to deliver goods in as little as 10 to 15 minutes.
Delivery Hero, which acquired a majority stake in Spanish delivery startup Glovo last month, said it is now holding about 83% of the company on a non-diluted basis.
($1 = 0.8831 euros)
Get The News You Want
Written By: Reuters
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.