Delivery Hero wants to be in position to be profitable in 2023 – CEO

BERLIN (Reuters) – Delivery Hero CEO Niklas Oestberg told Reuters on Tuesday that the German company wants to be in a position to break even at group level in 2023.

“I think it is fair to say, living up to our guidance, then we should be in a good position to choose if we want to be profitable in 2023,” he said.

The German group has grown rapidly during the coronavirus crisis and has invested heavily in the highly competitive quick commerce space, which aims to deliver goods in as little as 10 to 15 minutes.

He said Delivery Hero doesn’t need acquisitions but would look at them if the price is right.

Delivery Hero last month acquired a majority stake in Spanish delivery startup Glovo.

(Reporting by Nadine Schimroszik, Writing by Miranda Murray; Editing by Madeline Chambers)