Sees FY total segment revenue growth of around 15
Says H1 adjusted EBITDA swings to profit
Shares up 5.3 in early Frankfurt trade

Aug 9 Reuters German online takeaway food company Delivery Hero on Wednesday raised its fullyear revenue outlook, after it swung to a profit in the first half of the year on accelerating growth.

The Berlinbased company expects total segment revenue to grow around 15 this year, compared with its previous guidance for growth of around 10 in constant currency terms.

After a pandemicdriven boost to growth, Delivery Hero has focused on reaching longawaited profitability while maintaining growth as investor confidence in the rapidly expanding but mostly unprofitable sector started to wane.

Delivery Hero39;s stock was up 5.3 in early Frankfurt trade.

The group said its adjusted core operating result EBITDA swung to profit in the first six month of the year, from a loss of 323.0 million euros 354.59 million in the same period a year earlier and surpassing analysts39; expectations of a loss of 5 million euros in a companycompiled consensus. It did not disclose a concrete figure.

Adjusted EBITDA margin on gross merchandise value GMV in the second quarter came in at 0.2 on improved cost allocation, the company said.

The ongoing EBITDA improvements from losses to profits should be taken well by the market and restore investor confidence after a volatile share price in the past 12 months, analysts at J.P. Morgan wrote in a note to investors….