Delivery Hero doubles revenue - and loss

The DAX-listed group 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 balance sheet is mixed. The Berliners were able to more than double their revenue compared to the same period last year, it was 2.9 billion euros. In 2020, it had only amounted to 1.4 billion euros in the first half of the year. At the same time, however, losses increased significantly, from 448 million to 918 million euros.

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

The food delivery business is particularly loss-making. In the area, Delivery Hero competes with rivals such as Gorillas or Flink. There was further movement in the sector on Thursday: Manager Magazin reported that Delivery Hero was looking to buy into Gorillas.