Delivery Hero, the German online food ordering and delivery company, has predicted single-digit percentage growth in gross merchandise value (GMV) for 2023. This forecast follows a strong start to the second quarter and an expectation of continued growth acceleration throughout the year.
This year, the Berlin-based company anticipates a growth rate of 5% to 7% in constant currency for its gross merchandise value (GMV).
Delivery Hero experienced a growth surge due to the pandemic, but now the company is concentrating on achieving long-awaited profitability. This shift in focus comes as investor confidence in the rapidly expanding but largely unprofitable sector begins to dwindle.
“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.
Delivery Hero reported a first-quarter gross merchandise value (GMV) of €11.2 billion ($12.39 billion), which represents a 2.1% increase in constant currency. This figure aligns with analysts’ estimates, as per the company’s compiled consensus.
Delivery Hero has confirmed its full-year outlook, which predicts a core profit (EBITDA) margin to gross merchandise value (GMV) exceeding 0.5%.