By Giulia Petroni

Delivery Hero SE said late Monday that it anticipates its food-delivery business to break even in the second half of this year.

The Berlin-based company also said it expects adjusted earnings before interest, taxes, depreciation and amortization to be between zero and 100 million euros ($0-$113.3 million) in the fourth quarter of 2022. It confirmed its long-term adjusted Ebitda-to-gross merchandise-value margin target of between 5% and 8%.

Investments related to the quick-commerce business should peak in the first quarter and gradually decline after, according to the company.

Delivery Hero last month said it would acquire an additional stake in Spanish quick-commerce company Glovo, becoming its majority shareholder with an approximately 83.4% share after completion of the deal.

Write to Giulia Petroni at giulia.petroni@wsj.com

(END) Dow Jones Newswires

January 11, 2022 01:48 ET (06:48 GMT)

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