Delivery Hero cut its net loss to $798.6M in H1 2024, down from $855.4M last year. Revenues rose to $6.1B, with 6.3% GMV growth. The company projects FY 2024 revenue growth of 18%-21% and plans to list talabat in Dubai in Q4 2024.
Delivery Hero, a leading online food delivery company, reported a net loss of $798.6M for the first half of 2024, a decrease from last year’s $855.4M loss. Revenues for the period jumped to $6.1B, up from $5.2B in 2023, marking significant growth. Gross merchandise value (GMV) also increased by 6.3%, reflecting the company’s solid performance.
For the fiscal year 2024, Delivery Hero expects total segment revenue growth between 18% and 21%. Adjusted EBITDA is projected to range from $804M to $860M, indicating strong profitability prospects. Additionally, the company anticipates positive free cash flow, showcasing its financial health.
Delivery Hero is preparing to list its talabat business on the Dubai financial market in Q4 2024. Talabat, a prominent player in food delivery and quick commerce across the Middle East and North Africa, will be a key focus. The listing may involve a secondary sale of shares, but Delivery Hero plans to maintain a majority interest in the local entity post-IPO.
Looking forward, Delivery Hero projects GMV growth of 7% to 9% year-over-year. The market eagerly awaits the talabat listing, which could significantly impact the company’s valuation and presence in the MENA region. This move is expected to strengthen Delivery Hero's market positioning and attract new investors.
Will Delivery Hero's talabat IPO boost its market standing?
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