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Delivery Hero raises 2020 revenue guidance

Credit: REUTERS/FABRIZIO BENSCH

German online takeaway food company Delivery Hero raised its guidance for 2020 sales for the second time this year on Wednesday as coronavirus lockdowns and investment in ultra-fast deliveries boosted quarterly figures.

Oct 28(Reuters) - German online takeaway food company Delivery Hero DHER.DE raised its guidance for 2020 sales for the second time this year on Wednesday as coronavirus lockdowns and investment in ultra-fast deliveries boosted quarterly figures.

The Berlin-based company, which operates in more than 600 cities, said it now expected 2020 revenues of 2.7 billion-2.8 billion euros ($3.2 billion-$3.3 billion), compared with 2.6 billion-2.8 billion euros previously.

The company stood by its guidance on a margin of an adjusted group earnings before interest, taxes, depreciation and amortization (EBITDA) of minus 14%-18%.

($1 = 0.8461 euros)

(Reporting by Linda Pasquini; Editing by Tom Hogue)

((linda.pasquini@thomsonreuters.com; +48 58 7785261;))

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