Delivery Hero Shares Climb After New Guidance, Financing
04 April 2022 - 10:27AM
Dow Jones News
By Cristina Roca
Shares in Delivery Hero SE traded sharply higher Monday after
the Berlin-based company said it has secured new financing and that
it expects its adjusted earnings for next year to be positive.
At 0737 GMT, shares in Delivery Hero were up 13% at
EUR47.09.
Delivery Hero said it had secured financing totaling 1.4 billion
euros ($1.55 billion).
The news should be seen as a material positive as investors had
some concerns the company may need to implement an equity raise,
Citi analysts said.
The food-delivery platform, which a few months ago said it would
take majority control of Spain-based peer Glovo, also issued
guidance for 2023. It expects its adjusted earnings before
interest, tax, depreciation and amortization, including Glovo, to
be positive, it said
For the first two months of 2022, gross merchandise value--a key
indicator of sales growth--rose 30% on a pro forma basis, Delivery
Hero said.
Write to Cristina Roca at cristina.roca@wsj.com
(END) Dow Jones Newswires
April 04, 2022 04:12 ET (08:12 GMT)
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