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Delivery Hero sees annual GMV growth at upper end of forecast after solid Q3
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Delivery Hero sees annual GMV growth at upper end of forecast after solid Q3
Nov 9, 2024 11:52 AM

Nov 7(Reuters) - Delivery Hero said on

Thursday it expects annual gross merchandise value (GMV) growth

at the upper end of its forecast range, after the German online

takeaway food company reported solid growth for the third

quarter.

The group now expects its full-year growth in GMV, a common

metric for delivery firms measuring the total value of all goods

sold, to land at the upper end of its 7%-9% forecast, after a 9%

year-on-year rise in the third quarter.

Delivery Hero reported GMV of 12.2 billion euros ($13.12

billion) for the quarter, in line with analysts' expectations

in a company-provided consensus. Outside Asia, its main market,

GMV rose 25%.

In Asia, where it grew its presence with the acquisition

South Korea's largest online food delivery platform Woowa in

2021, it posted a 6.6% fall in GMV.

The company, however, said it expects adjusted core earnings

to come at the lower end of its 725 million euros-775 million

euros guidance.

($1 = 0.9302 euros)

(Reporting by Paolo Laudani and Bernadette Hogg; Editing by

Subhranshu Sahu)

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