Aug 27 (Reuters) - German online takeaway food company Delivery Hero, subject to a takeover offer by U.S.-based rival Uber, lifted its guidance for 2026 on Thursday, helped by strengthening demand and improved profitability.
Its gross merchandise value, total value of all goods sold through the marketplace, is now expected to grow 9% to 11% this year, compared with the previous forecast for 8% to 10% growth.
Analysts polled by the company had forecast yearly GMV growth of 9.1% to €51.63 billion ($60.17 billion) on average.
The company's adjusted earnings before interest, taxes, depreciation and amortisation grew 3.9% to €427 million in the first half of 2026, exceeding analysts' estimate of €396 million.
"We delivered a strong first half, with a further acceleration of GMV growth, adjusted EBITDA ahead of expectations, and a significant step up in cash generation. This performance gives us confidence to raise our full-year guidance across all key metrics," finance chief Marie-Anne Popp said in a statement.
Stronger-than-expected earnings suggest Delivery Hero was gaining operational momentum before Uber's latest takeover approach in July.
Shares in the Berlin-based firm were up 1.3% at 0601 GMT in early Frankfurt trade.
Berenberg analysts said that easing discounting by competitors and Delivery Hero's continued platform investments drove stronger-than-expected growth, despite pressure in South Korea and the Middle East and North Africa business region.
"In the meantime, the takeover process by Uber is running in the background. We believe that the current 12% discount to the offer price is too high and we do not rule out a sweetener of the offer over time," the analysts added.
Delivery Hero said it would continue to operate independently from Uber until the closing of the transaction, which is expected in the second half of 2027.
($1 = 0.8580 euros)
Reporting by Ozan Ergenay and Paolo Laudani in Gdansk, editing by Milla Nissi-Prussak
Source: Reuters