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Germany's Delivery Hero third-quarter revenue jumps 60 percent
November 27, 2017 / 11:49 AM / 15 days ago

Germany's Delivery Hero third-quarter revenue jumps 60 percent

(Removes reference to Hungryhouse in paragraph 6, which is being bought by Just Eat not Delivery Hero)

By Sophie Sassard

LONDON (Reuters) - Germany’s Delivery Hero reported a 60 percent jump in third-quarter revenue on Monday, showing no let up in pace of growth of takeaway food apps.

UK rival Just Eat is poised to join Britain’s prestigious FTSE 100 stock index, with its market value overtaking that of supermarket group Sainsbury’s and highlighting how new internet firms are disrupting traditional businesses.

For the first nine months of the year, Delivery Hero’s revenue was up 64 percent to 384.4 million euros (£344.97 million). Third-quarter revenue totalled 137.9 million euros.

The loss-making company, backed by German tech investor Rocket Internet and South African e-commerce giant Naspers, said it now expected full-year revenues to be at the top end of its guidance range of 530-540 million euros.

It reiterated a goal to break even in terms of adjusted EBITDA (earnings before interest, tax, depreciation and amortisation) in 2018 and make a profit on that basis in 2019.

Delivery Hero, whose competitors also include Deliveroo, UberEATS and Amazon, has grown into a global company thanks to a string of deals.

Delivery Hero shares floated in June at 25.50 euros apiece. At 1110 GMT, the stock was up 1.4 percent at 38.67 euros.

Gdynia Newsroom; Editing by MarkPotter

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