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Delivery Hero cuts FY profit outlook
(Sharecast News) - German takeaway food delivery firm Delivery Hero has cut its full-year profit outlook citing foreign exchange headwinds. The company now expects FY25 adjusted earnings before interest, tax, depreciation and amortisation of between €900m and €940m, down from previous guidance of €975m to €1.03bn. It pointed to around €110m of foreign exchange headwinds.
It also said it now expects free cash flow of more than €120m, down from previous guidance of more than €200m, as a result of about €80m foreign exchange headwinds.
Had it not been for these headwinds, Delivery Hero said it would have been on track to meet its previous guidance on adjusted EBITDA and free cash flow.
The downgraded guidance - issued late on Wednesday - was offset by solid second-quarter numbers on Thursday, which showed that total like-for-like revenue grew 27% to €3.7bn, while group gross merchandise value was 11% higher on a LFL basis at €12.2bn.
First-half adjusted EBITDA jumped 71% from the same period a year earlier to €411m, with the margin expanding by 70 basis points to 1.7% of GMV.
Chief executive and co-founder Niklas Östberg said: "We built on our strong start to the year, delivering accelerated growth and expanded profitability in the second quarter.
"We achieved new daily order records and I am particularly encouraged by our performance in Asia, where we have seen a clear improvement in both customer input metrics and GMV growth."
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