Delivery Hero expects a break in the food distribution business in the second half of 2022, according to Reuters
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(Reuters) – Germany’s Delivery Hero SE expects the food delivery business to close in the second half of 2022 as demand rises as more people eat since the pandemic began.
The company expects adjusted earnings of up to 100 million euros ($ 113.24 million) in the fourth quarter, and investments in the fast-trading business are expected to peak in the first quarter and gradually decline.
The German team has grown rapidly in the coronavirus crisis and has invested heavily in a highly competitive fast-paced trading space that aims to deliver goods in 10 to 15 minutes.
Delivery Hero, which last month acquired the largest stake in Spanish shipping startup Glovo, said it now owns about 83% of the company undiluted.
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