Home Markets Delivery Hero eyes more investments, lowers margin guidance

Delivery Hero eyes more investments, lowers margin guidance

0

The Delivery Hero headquarters are pictured in Berlin, Germany, August 18, 2020. REUTERS/Fabrizio Bensch/File Photo

  • Adjusts margin guidance at lower end of range
  • Sees more investments in H2
  • Shares down 3.9%
  • Lifts FY revenue forecast to 6.4-6.7 bln euros
  • Q2 revenues at 1.55 bln euros

Aug 12 (Reuters) – Delivery Hero (DHER.DE) is considering notching up its investments beyond the initial plan, as it seeks to ride the first-half momentum to win more market share, the German online food takeaway firm’s finance chief said on Thursday.

The Berlin-based group raised its 2021 revenue and gross merchandise volume outlook earlier in the day, but tweaked its forecast for adjusted core operating margin to minus 2%, at the lower end of previous forecast.

Shares in the company were down 3.9% at 0834 GMT.

“The small implied downgrade to consensus EBITDA (earnings before interest, tax, depreciation and amortisation) today comes at a difficult time,” Jefferies said after the…

Click here for full article…www.reuters.com