Delivery Hero revenue doubles on pandemic boost

With diners confined to their homes, German online takeaway food company Delivery Hero has been one of the success stories of lockdown, saying Wednesday (February 10) that its annual sales had almost doubled.

The Berlin-based company said its 2020 revenue came in at 2.8 billion euros, or almost 3.4 billion dollars.

That's up 95% year-on-year.

It's also at the upper end of its own forecast.

Delivery Hero operates in about 50 markets across Europe, Latin America, Asia, the Middle East and North Africa.

It's benefited from remote working trends that have pushed people to order meals and basic items from home.

The firm cut its full-year investment goals during the course of 2020 from 200 million euros to 115 million euros, citing lower spending to keep its market share amid weaker competition.

Delivery Hero also said it operated 491 Dmarts - its small warehouses - across the world by the end of 2020, beating a target of 400.

So-called quick commerce has boomed over the past year, as lockdowns forced shopping online and put a new premium on ultra-rapid deliveries of food and other goods from relatively local stockrooms.