From CNBC:

Delivery Hero CEO Niklas Östberg announced preliminary financial results on Monday, showing strong revenue growth and forecasting increased profitability for 2024. GMV grew by 6.7% to 12.3 billion euros in Q4 2023 and 6.8% to 47.6 billion euros for the whole year.

Total segment revenue increased by 15.7% to 3 billion in Q4 and 11.1 billion euros for the full year, meeting company guidance for around 15% growth in 2023.

The company projected GMV growth of 7-9% and segment revenue growth of 15-17% in 2024, with adjusted EBITDA of 725 million to 775 million euros and positive free cash flow for the year.

The preliminary financial results were driven by healthy order growth in Delivery Hero’s many geographies and GMV growth in 2023.

Delivery Hero also refuted rumors of a collapsed sale of certain assets within its Southeast Asian food delivery business and said talks are ongoing. The company is one of the largest food delivery services, competing with global giants including DoorDash, Deliveroo, Just Eat Takeaway.com, Grab, and Gojek.

Read more: Delivery Hero (DHER) unaudited earnings released after 26% stock plunge