(Reuters) -German online takeaway food company Delivery Hero on Wednesday lowered its full-year adjusted earnings and free cash flow outlook to reflect foreign exchange rate headwinds.
The company now expects earnings after interest, tax, depreciation and amortisation to be between 900 million and 940 million euros ($1.10 billion) from its previous forecast of between 975 million and 1,025 million, while lowering its free cash flow forecast by about 40% to more than 120 million euros.
GMV, a common metric for delivery firms measuring the total value of all goods sold, is expected to grow at the upper end of the range of 8% to 10% for the year, the company said.
The company in April confirmed its 2025 outlook, but a slip in growth in its crucial Asian market led investors and analysts to question the upbeat narrative for the region.
In the core Asian market, the company’s GMV fell to 5.4 billion euros in the first quarter from 6.1 billion euros a year earlier and slightly missed consensus expectations.
Delivery Hero is present in more than 70 countries worldwide, including 16 in Europe.
($1 = 0.8542 euros)
(Reporting by Angela Christy in Bengaluru; Editing by Vijay Kishore)
