By Giulia Petroni
Delivery Hero SE said late Monday that it anticipates its food-delivery business to break even in the second half of this year.
The Berlin-based company also said it expects adjusted earnings before interest, taxes, depreciation and amortization to be between zero and 100 million euros ($0-$113.3 million) in the fourth quarter of 2022. It confirmed its long-term adjusted Ebitda-to-gross merchandise-value margin target of between 5% and 8%.
Investments related to the quick-commerce business should peak in the first quarter and gradually decline after, according to the company.
Delivery Hero last month said it would acquire an additional stake in Spanish quick-commerce company Glovo, becoming its majority shareholder with an approximately 83.4% share after completion of the deal.
Write to Giulia Petroni at giulia.petroni@wsj.com
(END) Dow Jones Newswires
01-11-22 0148ET