Delivery Hero SE Reports Decrease in Earnings Due to Legal Risks
Delivery Hero SE, a German company operating in the Internet & Catalog Retail industry, has reported a decrease in earnings due to increased provisions for legal risks. The company’s preliminary adjusted EBITDA for FY 2024 is lower than initially expected.
Reasons for Decrease in Earnings
The decrease in earnings is attributed to a court decision in Italy regarding the classification of delivery riders. As a result, the company has increased provisions for legal risks.
Impact on Stock Price
The company’s stock price has been affected by the development. Some analysts have reduced their price targets, but the exact impact on the stock price is unclear.
Key Figures
- Preliminary adjusted EBITDA for FY 2024: lower than initially expected
- Reason for decrease in earnings: increased provisions for legal risks due to court decision in Italy
- Analysts’ price targets: reduced