BERLIN (dpa-AFX) - Delivery Hero SE (DHER.DE DLVHF.OB), a German online food-delivery firm, on Thursday reported that third-quarter Gross Merchandise Value or GMV increased 12 percent to 11.45 billion euros from last year's 10.20 billion euros.
The GMV of all segments outside of Asia grew over 30 percent on a combined basis.
Total Segment Revenue increased 28 percent to 2.5 billion euros from 1.95 billion euros a year ago.
In line with former guidance, Delivery Hero's Platform business reached break-even including Glovo during the third quarter.
Further, the company updated fiscal 2022 outlook. GMV for the year is now expected at the lower end of the former forecast of 44.7 billion euros to 46.9 billion euros, and Total Segment Revenue at the lower end of the previously anticipated 9.8 billion euros to 10.4 billion euros.
The full-year adjusted EBITDA/GMV margin is now expected to arrive at negative 1.4 percent to negative 1.5 percent, improving from the previously given outlook of negative1.5 percent to negative 1.6 percent.
The profitable markets in the Platform business are expected to achieve an adjusted EBITDA of more than 450 million euros for the second half, 50 million euros higher than previous guidance.
Further, for fiscal 2023, Delivery Hero expects the entire Group, including Glovo and comprising the Platform business and the Integrated Verticals segment, to achieve a positive adjusted EBITDA/GMV margin of more than 0.5 percent.
For the second half of 2023, the adjusted EBITDA/GMV margin is expected at more than 1.0 percent. The Company previously planned to achieve positive adjusted EBITDA for the entire Group in FY 2023.
Delivery Hero's Board decided to repurchase a nominal amount of up to 80 million euros or around 10 percent of the outstanding principal of its convertible bonds due in January 2024 over the coming months.tnews.com
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