Delivery Hero Cuts Full-Year Profit Outlook on Weaker Dollar
Delivery Hero SE, a major food delivery company, has lowered its full-year profit outlook due to a weaker US dollar and South Korean won. The company cited the unfavorable currency fluctuations as the primary reason for the revised guidance. The delivery service provider reported that the stronger euro against the US dollar and South Korean won has resulted in a reduction in profit and free cash flow for the company. Delivery Hero has adjusted its earnings before interest, taxes, depreciation, and amortization (EBITDA) guidance for the full year, now expecting it to be in the range of €480 million to €530 million, down from the previous estimate of €580 million to €630 million. Despite the reduced profit outlook, Delivery Hero remains optimistic about its long-term growth prospects and continues to focus on expanding its global presence and improving operational efficiency.
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