August 2, 2018 / 6:17 AM / 10 months ago

Delivery Hero raises 2018 revenue guidance

Aug 2 (Reuters) - Delivery Hero, a German online food delivery platform, raised its revenue guidance for the full year after announcing plans to invest an additional 80 million euros ($93.20 million) across its countries to stimulate growth.

The company said on Thursday it now expected revenues of between 760 million and 780 million euros in 2018, compared with previous guidance for 740 million to 770 million euros.

It added that due to investment costs, it doesn’t expect to reach its target to break even on an adjusted EBITDA basis on a monthly level by the end of 2018.

The company, which operates in more than 40 countries, said its first-half revenues rose 60 percent on a like-for-like basis to 357 million euros, driven by strong order growth in Middle East and North Africa and Asia.

Delivery Hero will publish its full half-year results on Sept. 13. ($1 = 0.8584 euros) (Reporting by Sylwia Lasek Editing by Maria Sheahan)

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