Delivery Hero’s long road to profit

Profit has become king for companies of all stripes amid the tech funding winter, and large firms like Germany-based Delivery Hero are no exception.

The food delivery firm recently posted a profit for the first half of 2023, with an adjusted EBITDA of US$10.04 million – up from a loss of US$517.64 million in the same period last year.

As the chart above shows though, it’s been a long and winding path to reach that profit.

At the beginning of 2018, the company started reporting adjusted EBITDA every six months instead of yearly. The cumulative losses since then stand at US$3.05 billion, which is a hefty chunk.

Delivery Hero has owned Foodpanda, the Asian online food and grocery delivery platform, since 2016. Foodpanda is headquartered in Singapore and operates in 11 markets across the continent.

Delivery Hero also operates Woowa Brothers in Vietnam and South Korea.

The German firm’s path to profitability may offer hope for other food delivery companies looking to follow in its example.

Currency converted from euro to US dollar: 1 euro = US$1.08.

Credits

Graphic: Peter Cowan

Editing: Dhania Putri Sarahtika and Terence Lee