Delivery Hero doubles turnover - and loss

The DAX company presents its half-year results. The overall result is mixed. In Europe, however, the Berlin-based company is now profitable.

The food delivery service Delivery Hero has presented its figures for the first half of 2021. The results are mixed. The Berlin-based company more than doubled its turnover compared to the same period last year to 2.9 billion euros. In the first half of 2020, it had only amounted to 1.4 billion euros. At the same time, however, losses also increased significantly, from 448 million to 918 million euros.

The company had already previously raised its revenue forecast for the year as a whole; Delivery Hero expects total revenue of EUR 6.4 to 6.7 billion for 2021, which would also be more than double the previous year's figure (EUR 2.8 billion in 2020). According to CEO Niklas Östberg, Delivery Hero is already operating profitably in Europe. EBITDA (earnings before interest, taxes, depreciation and amortization) amounted to one million euros. In the first half of 2020, Delivery Hero still lost almost 8 million euros on the continent.

The food delivery business is particularly loss-making. In this area, Delivery Hero competes with rivals such as Gorillas and Flink. There were further movements in this area on Thursday: Manager Magazin reported that Delivery Hero wanted to acquire a stake in Gorillas.