(Delivery Hero) Shares of Delivery Hero fell by 30% on Thursday after the company said it expects its platform to reach breakeven level in FY22.
The company said that it expects FY22 core profit margin of between -1% and -1.2%, while revenue in the year is expected at between 9.5 billion euros and 10.5 billion euros.
Delivery Hero said it expects a gross merchandise value of between 44 billion euros and 45 billion euros in FY21, below the projected 48 billion euros.
The below-estimate guidance comes even as the delivery firm recorded a revenue growth of 66% to 1.92 billion euros in the fourth quarter from the prior year. Total segment revenue rose by 89% to 6.6 billion euros in FY21.
The company booked 9.640 billion gross merchandise value in the fourth quarter, up by 40% from the prior year. FY21 GMV was 35.4 billion euros, up 62% from FY20.
DHER: ETR is currently down -25.76%.
