(RTTNews) – Delivery Hero SE (DHER.DE, DLVHF.OB), a German online food-delivery service, reported Wednesday that its first-quarter revenues grew 116 percent to 1.36 billion euros from last year’s 631.3 million euros.
Orders in the first quarter increased 88 percent to 663 million units from 352.2 million units. Own-delivery accounted for 48 percent of those orders, compared to 38 percent last year on a pro forma basis.
Gross Merchandise Value or GMV increased 83 percent year-over-year to 7.8 billion euros.
Looking ahead for fiscal 2021, the company expects total segment revenue of 6.1 billion euros to 6.6 billion euros.
GMV target is between 31 billion euros and 34 billion euros, and adjusted EBITDA/GMV margin is between negative 1.5 percent and negative 2.0 percent.
Delivery Hero further said it will keep investing into Integrated Verticals, specifically Dmarts,, and new markets such as Japan or Vietnam.