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Delivery Hero first-half revenue rises 66 percent; adjusted losses narrow

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Delivery Hero first-half revenue rises 66 percent; adjusted losses narrow

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FRANKFURT (Reuters) – Germany’s Delivery Hero <DHER.DE>, the world’s largest online takeaway food delivery company, on Tuesday posted a 66 percent rise in first-half revenue and sharply narrower losses, but growth slowed in the three months to June. The company said first-half 2017 revenue rose 66 percent to 246.5 million euros ($291.8 million) compared with the first half of 2016 and adjusted margins on core earnings narrowed to a loss of 18 percent from a loss of 47 percent in the same period a year ago. Berlin-based Delivery Hero said it expects revenue of between 530 million euros and 540 million euros for the full year, with adjusted EBITDA margins improving modestly to between negative 15 and 17 percent. It reiterated it plans to break even in 2018. First-half revenue growth appeared to decelerate compared to the first quarter of 2017, when it reported year-to-year growth of 90 percent, although like-for-like comparisons are made difficult by the company’s frequent purchases and disposals in certain markets.

(Reporting by Eric Auchard; Editing by Georgina Prodhan)
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