Germany's Delivery Hero hikes 2023 revenue guidance
The Delivery Hero headquarters are pictured in Berlin, Germany, August 18, 2020. REUTERS/Fabrizio Bensch/File PhotoSays H1 adjusted EBITDA swings to profiton Wednesday raised its full-year revenue outlook, after it swung to a profit in the first half of the year on accelerating growth.
Adjusted EBITDA margin on gross merchandise value in the second quarter came in at 0.2% on improved cost allocation, the company said. The company said its quick-commerce Dmarts business, based on centrally located warehouses that cater only to online clients, achieved profitability for the first time in June thanks to volume growth, larger shopping baskets and better cost efficiency. This was ahead of its former guidance for a positive result in the second half of the year.
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