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Delivery Hero Wants To Be In Position To Be Profitable In 2023 - CEO

By Dave Simpson

Delivery Hero CEO Niklas Oestberg has told Reuters that the German company wants to be in a position to break even at group level in 2023.

"I think it is fair to say, living up to our guidance, then we should be in a good position to choose if we want to be profitable in 2023," he said.

Rapid Growth And Heavy Investment

The German group has grown rapidly during the COVID-19 crisis and has invested heavily in the highly competitive quick commerce space, which aims to deliver goods in as little as 10 to 15 minutes.

Acquisitions

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Oestberg said that Delivery Hero does not need acquisitions but would look at them if the price is right.

Delivery Hero last month acquired a majority stake in Spanish delivery startup Glovo.

Delivery Hero More A Buyer Than A Seller, CEO Says Of Consolidations

Delivery Hero sees itself more as a buyer than a seller, Oestberg said when asked about possible consolidations.

In A Strong Position

The German company is in a strong position, he added during an investor briefing about Delivery Hero recently taking a majority stake in Spanish delivery startup Glovo.

Expecting Food Delivery Business To Break Even

The above news follows news from earlier this week that Delivery Hero expects its food delivery business to break even during the second half of 2022, as demand soars with more people eating in since the COVID-19 pandemic began.

News by Reuters, edited by Hospitality Ireland. Click subscribe to sign up for the Hospitality Ireland print edition.

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