Delivery Hero H1 Loss Narrows
(dpa-AFX) - Delivery Hero SE, a German online food delivery firm, on Wednesday posted a narrower loss for the first-half of 2023, amidst a rise in revenue, supported by the contribution of acquisition of Glovo.
For the six-month period to June 30, the company posted a net loss of 832.3 million euros, compared with restated 1.495 billion euros loss reported for the same period of 2022.
Pre-tax loss stood at 820.5 million euros as against previous year's restated 1.445 billion euros in loss.
Operating loss was at 461.2 million euros, compared with restated 1.041 billion euros in loss a year ago.
On adjusted basis, EBITDA was 9.2 million euros compared with previous year's loss of 323 million euros.
Revenue moved up by 26.8 percent to 4.839 billion euros from last year's restated 3.815 billion euros. Excluding the Glovo acquisition, revenue increase would have been 11.6 percent.
Looking ahead, for full year 2023, Delivery Hero, said:"We continue expecting adjusted EBITDA of the Segments to break even in 2023 and become positive for the entire year for the first time in the Group's history. As a result, we still expect an adjusted EBITDA/GMV margin of more than 0.5% for the full year 2023 and more than 1.0% in H2 2023."
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