by Linda Pasquini and Anna Mackenzie
(Reuters) – German company Delivery Hero raised its full-year revenue forecast on Wednesday, after posting a first-half profit on accelerating growth.
Delivery Hero now anticipates an increase of around 15% in total revenue for this year, compared to a previous forecast of growth of around 10% at constant exchange rates.
On the Frankfurt Stock Exchange, the Delivery action climbed nearly 8% in the morning.
After growth spurred by the COVID-19 pandemic, the Berlin-based takeaway company has struggled to achieve profitability while maintaining growth, as investor confidence in the booming sector, but generally unprofitable, was beginning to wear thin.
Without giving a precise figure, the group announced a positive adjusted operating result (EBITDA) in the first half of the year, after a loss of 323.0 million euros in the same period of the previous year. .
Analysts had expected a loss of 5 million euros, according to a consensus established by the company.
Gross merchandise value (GMV)-adjusted EBITDA margin in the second quarter was 0.2% on better cost control, the company added.
“Continued improvements in EBITDA, which is turning positive, should be welcomed by the market and restore investor confidence after the stock’s volatility over the past 12 months,” JP Morgan analysts said in a note to investors. investors.
Revenue rose 16% at constant currency to 2.58 billion euros in the second quarter, slightly beating the consensus of 2.50 billion euros.
(Report by Linda Pasquini and Anna Mackenzie in Gdansk, Dina Kartit, edited by Blandine Hénault)
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