Germany's Delivery Hero returns to profit for full year

DPA
·1 min read
Logo of the food delivery service Delivery Hero can be seen in a pane at the Dax company's headquarters in Berlin. Paul Zinken/ZB/dpa
Logo of the food delivery service Delivery Hero can be seen in a pane at the Dax company's headquarters in Berlin. Paul Zinken/ZB/dpa

German online ordering and food delivery service Delivery Hero SE has returned to profit for the full year 2023 from a loss in the previous year, the company reported on Monday.

Excluding items, for the full year, Delivery Hero registered earnings before interest, taxes, depreciation and amortization (EBITDA) of over €250 million ($270 million), compared with a loss of €623.6 million of previous year.

Group total segment revenues moved up to €10.463 billion from last year's €9.589 billion.

Group preliminary gross merchandise value (GMV) stood at €45.275 billion, higher than €44.614 billion a year ago, supported by healthy order growth in many of its geographies.

Looking ahead, for the full-year 2024, the group expects year-over-year GMV growth of 7% to 9 cents, with Segment Revenue growth of 15% to 17%.

Excluding items, Delivery Hero projects EBITDA of €725 million to €775 million.