Delivery Hero says it hit 2023 sales growth targets in early results after 26% stock plunge

Delivery Hero released its preliminary financial results ahead of schedule in an effort to counter investor concerns. The unaudited results showed that the company’s sales in 2023 were in line with its guidance. Delivery Hero reported a 6.8% increase in gross sales volume to 47.6 billion euros for the year. Adjusted EBITDA exceeded 250 million euros, and the company anticipates further profitability growth in 2024. Delivery Hero also provided an optimistic outlook for 2024, forecasting 7-9% GMV growth and segment revenue growth of 15-17%. Positive free cash flow is also expected.