Delivery Hero expects the food delivery business to collapse in the second half of 2022 Reuters Post


© Reuters. PHOTOGRAPHS: The Delivery Hero logo is being photographed at its headquarters in Berlin, Germany, August 18, 2020. REUTERS / Fabrizio Bensch

(Reuters) – Germany’s Delivery Hero SE expects its food delivery business to collapse even in the second half of 2022, as demand grows even more with more people eating since the plague began.

The company expects changes to be made up to 100 million euros ($ 113.24 million) in the fourth quarter, while revenue related to its fast-moving business is expected to peak in the first quarter and fall sharply afterwards.

The German team has grown exponentially during the coronavirus crisis and has invested heavily in fast-moving areas, with the goal of shipping goods within 10 to 15 minutes.

Delivery Hero, which gained a significant share in launching a Spanish sale in Glovo last month, said it now operates about 83% of the company without a reduction.

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