February 11, 2020 / 6:25 AM / 4 months ago

Delivery Hero expects Europe to remain break-even in 2020

Feb 11 (Reuters) - Delivery Hero expects its Europe business to remain break-even during 2020 after hitting this mark, as forecast, in the fourth-quarter of 2019, the German food delivery group said on Tuesday.

The food-delivery company, which recently agreed to buy South Korea’s top food delivery app owner Woowa Brothers for $4 billion, cited estimated segment revenues of 2.4 to 2.6 billion euros for the next full-year.

It also said it expects its adjusted earnings before interest, taxes, depreciation and amortisation (EBITDA) margin to be between negative 14% and negative 18% in 2020, seeing a net adjusted impact of negative EUR 200 million from investments.

Reported by Sarah Morland Editing by Shri Navaratnam

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