April 24, 2017 / 11:39 AM / a year ago

IPO candidate Delivery Hero reports strong sales growth

BERLIN, April 24 (Reuters) - Online food takeaway firm Delivery Hero, one of Europe’s biggest start-ups that is seen as likely to seek to list later this year, reported that revenues jumped 71 percent in 2016 and said it would keep investing to drive future growth.

Delivery Hero is seen as the start-up closest to going public in the portfolio of German ecommerce investor Rocket Internet. Rocket holds a 37.7 percent stake in the firm valued at almost 3 billion euros ($3.26 billion).

The Berlin-based company that has built up a delivery network for 271,000 restaurants in more than 40 countries said 2016 sales rose 79 percent to 297 million euros, or 71 percent after accounting for disposals and acquisitions.

Niklas Ostberg, the CEO of the firm founded in 2011, said he expected Delivery Hero to keep up the strong growth in 2017 and in the medium term and would continue to invest, adding he is considering a potential initial public offering to raise funds.

The company did not give any details on its profitability. It has said its marketplace business is profitable, although the Foodpanda business it bought from Rocket Internet is still loss-making, although growing fast. ($1 = 0.9215 euros) (Reporting by Emma Thomasson; Editing by Harro ten Wolde)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below