Delivery Hero sees core profit margin of 0.5% in 2023

(Reuters) - German online takeaway food company Delivery Hero said on Thursday it would achieve a positive adjusted core profit margin on gross merchandise value (GMV) of more than 0.5% in 2023 for the group, as it puts profitability over growth.

The Berlin-based company further narrowed its loss guidance for 2022, now expecting a negative margin on adjusted core loss (EBITDA) at -1.4% to -1.5% of GMV, against a previous guidance of -1.5% to -1.6%.

The guidance includes Spanish delivery startup Glovo, in which it holds a majority stake.

(Reporting by Linda Pasquini in Gdansk; Editing by Clarence Fernandez)