April 26, 2018 / 6:03 AM / a year ago

Delivery Hero reports wider loss on higher marketing expenses

April 26 (Reuters) - Delivery Hero, a German online food delivery platform, reported a wider 2017 loss on Thursday due to higher marketing expenses.

The company reported negative full-year adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) of 94.2 million euros ($114.69 million), compared with 71.2 million a year ago.

Marketing expenses surged 47 percent last year to 327.1 million euros.

In February, Delivery Hero reported a 60 percent increase in 2017 sales on a like-for-like basis to 544 million euros, with growth particularly strong in the Middle East and North Africa.

The company also said it was on track to reach its goal of breakeven on an adjusted EBITDA basis on a monthly level by the end of 2018.

$1 = 0.8214 euros Reporting by Sylwia Lasek and Thyagaraju Adinarayan in Gdynia; Editing by Vyas Mohan

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