{"id":25618,"date":"2023-04-27T08:58:42","date_gmt":"2023-04-27T08:58:42","guid":{"rendered":"http:\/\/lynettelockhart.com\/client\/delivery-hero-sees-2023\/"},"modified":"2023-04-27T08:59:12","modified_gmt":"2023-04-27T08:59:12","slug":"delivery-hero-sees-single-digit","status":"publish","type":"post","link":"http:\/\/lynettelockhart.com\/client\/delivery-hero-sees-single-digit\/","title":{"rendered":"Delivery Hero sees single-digit GMV growth in 2023"},"content":{"rendered":"<p>By Anna Mackenzie<\/p>\n<p>(Reuters) -German online takeaway food company Delivery Hero on Thursday forecast single-digit percentage growth in 2023 gross merchandise value (GMV) against a challenging comparison period after parts of Asia reopened from lockdowns.<\/p>\n<p>The Berlin-based company expects its GMV to grow between 5% and 7% in constant currency terms this year, citing a &#8220;promising start&#8221; to the second quarter. It expects the growth to accelerate throughout the year.<\/p>\n<p>After a pandemic-driven boost to growth, Delivery Hero has focused on reaching long-awaited profitability as investor confidence in the rapidly expanding but mostly unprofitable sector started to wane.<\/p>\n<p>&#8220;We are not focusing on cutting costs, we are much more concentrated on improving our gross profit,&#8221; finance chief Emmanuel Thomassin told Reuters. <\/p>\n<p>The company said it seeks to drive profitability by growing its customer base and expanding its business beyond food delivery services.<\/p>\n<p>In the first quarter, Delivery Hero&#8217;s GMV grew by an average of 16% in all regions except Asia that includes its core market South Korea. <\/p>\n<p>GMV in Asia declined by 7%, affected by &#8220;difficult&#8221; comparables from last year when strict COVID lockdowns were still enforced.<\/p>\n<p>Delivery Hero shares were down 3.7% at 0823 GMT.<\/p>\n<p>&#8220;An innately volatile equity trading in innately volatile times, we&#8217;d expect some weakness today,&#8221; analysts at Jefferies said.<\/p>\n<p>Delivery Hero expects to record double-digit growth in Asia by the end of 2023, Thomassin said, but added growth would stay below other regions.<\/p>\n<p>&#8220;We are increasing profitability in every single market where we were profitable last year,&#8221; he said.<\/p>\n<p>The company reported a GMV of 11.2 billion euros ($12.39 billion) in the first quarter, up 2.1% on a constant currency basis and in line with analysts&#8217; consensus estimate.<\/p>\n<p>It confirmed full-year outlook for a core profit (EBITDA) to GMV margin exceeding 0.5%.<\/p>\n<p>($1 = 0.9042 euros)<\/p>\n<p> (Reporting by Anna Mackenzie and Linda Pasquini in Gdansk; Editing by Milla Nissi and Emelia Sithole-Matarise)<\/p>\n<p><a href=\"http:\/\/lynettelockhart.com\/client\/delivery-hero-forecasts-2023\/file-photo-the-delivery-heros-logo-is-pictured-at-its\/\"><img decoding=\"async\" src=\"http:\/\/lynettelockhart.com\/client\/wp-content\/uploads\/Reuters_Direct_Media\/USOnlineReportTechnologyNews\/tagreuters.com2023binary_LYNXMPEJ3Q05I-VIEWIMAGE.jpg\" alt=\"tagreuters.com2023binary_LYNXMPEJ3Q05I-VIEWIMAGE\"><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>By Anna Mackenzie (Reuters) -German online takeaway food company Delivery Hero on Thursday forecast single-digit percentage growth in 2023 gross merchandise value (GMV) against a challenging comparison period after parts of Asia reopened from lockdowns. The Berlin-based company expects its GMV to grow between 5% and 7% in constant currency terms this year, citing a [&hellip;]<\/p>\n","protected":false},"author":8,"featured_media":25619,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":""},"categories":[1220],"tags":[1223],"class_list":["post-25618","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-u-s-technology","tag-updated"],"jetpack_featured_media_url":"http:\/\/lynettelockhart.com\/client\/wp-content\/uploads\/Reuters_Direct_Media\/USOnlineReportTechnologyNews\/tagreuters.com2023binary_LYNXMPEJ3Q05I-VIEWIMAGE.jpg","_links":{"self":[{"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/posts\/25618","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/comments?post=25618"}],"version-history":[{"count":3,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/posts\/25618\/revisions"}],"predecessor-version":[{"id":25816,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/posts\/25618\/revisions\/25816"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/media\/25619"}],"wp:attachment":[{"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/media?parent=25618"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/categories?post=25618"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/tags?post=25618"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}