Online food company Delivery Hero forecasts 2023 GMV growth of 5-7%

By Kevin Colleran On Apr 27, 2023

German online takeaway food company Delivery Hero on Thursday forecast single-digit percentage growth in 2023 gross merchandise value (GMV), citing a “promising start” to the second quarter and expecting an acceleration in growth throughout the year.

The Berlin-based company expects its GMV to grow between 5% and 7% in constant currency this year.

After a pandemic-driven boost to growth, Delivery Hero has focused on reaching long-awaited profitability as investor confidence in the rapidly expanding but mostly unprofitable sector started to wane.
“We still see enormous potential to keep driving profitability for many years to come,” Chief Financial Officer Emmanuel Thomassin said in a statement, as the company seeks to increase customer base and expand its business beyond food delivery services.

It reported a GMV of €11.2 billion ($12.39 billion) for the first quarter, up 2.1% in constant currency and in line with analysts’ estimate in a company-compiled consensus.

It confirmed full-year outlook for a core profit (EBITDA) margin to GMV exceeding 0.5%.

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