Delivery Hero says it hit 2023 sales growth targets in early results after 26% stock plunge
Summary
Delivery Hero published preliminary financial results on Monday, a week earlier than planned, that showed the company grew sales in line with its guidance last year and is forecasting stronger profitability in 2024. The results, which are unaudited and based on preliminary information, are being released by the company early in a bid to push back on investor flight last week over the food delivery giants asset sales strategy. It comes after Delivery Hero shares lost more than 26% of their value last week, slipping to their lowest price since 2022, as investors reacted to a mix of news surrounding portfolio asset sales. Delivery Hero denied the report, putting out a statement saying that any rumors that negotiations for the potential sale of the Foodpanda assets had collapsed were "false," and that talks are ongoing. It competes with the likes of American giant DoorDash, Britains Deliveroo, Anglo-Dutch firm Just Eat Takeaway.com, Singaporean company Grab, and Indonesia-based Gojek.