Delivery Hero, the German multinational owner of Glovo, recorded revenues of 4.348 billion euros in the third quarter, which represents an increase of 23% compared with the same period of the previous year, figures that come after the sale of the group to Uber was made official in September.
In the European market, turnover advanced by 15.7%, to 674 million euros. In the MENA region (Middle East and North Africa) revenues stood at 1.111 billion euros, 17% more, while in Asia they totaled 1.188 billion euros, with an increase of 10.8%. For its part, the business on the American continent reached 353 million euros, which implies a rise of 34.5%.
The rest of the geographies jointly contributed revenues of 1.174 billion euros, which represents an advance of 45.7% compared with a year ago.
The company also communicated that the gross merchandise value (GMV) handled amounted to 13.9346 billion euros, which represents a drop of 14% in absolute terms.
Looking ahead to the full year 2026, the company has revised its forecasts upward and now contemplates an increase in GMV, in adjusted terms, of between 10% and 12%, together with revenue growth of between 18% and 20%. Likewise, it expects to achieve an adjusted Ebitda of between 980 and 1.020 million euros.
"Our investments in the customer experience are accelerating our growth and driving profitability. For the first time, we have surpassed one billion orders in a quarter, and subscribers now generate more than half of our gross merchandise value (GMV)", indicated the chief executive of the German firm, Niklas Östberg.
"We are raising our annual forecasts again across the board, as the strength of our offering continues to drive faster growth, which translates into an improvement in the bottom line. We will maintain discipline as we take each market to a sustainable gross profit level, and we will continue investing until 2027 to strengthen our local presence wherever profitability is highest", highlighted the chief financial officer, Marie-Anne Popp.
Acquisition by Uber and details of the takeover bid
Delivery Hero also announced that it is extending the acceptance period of the public takeover offer submitted by Uber, which offers 41.50 euros per share, until next November 5.
"Delivery Hero and Uber will continue operating independently until the closing of the transaction, expected for the second half of 2027, subject to the usual closing conditions, including regulatory approvals," the statement says.
The board of directors of Delivery Hero already gave the green light at the beginning of September to the purchase proposal made by Uber Technologies, valued at 14.8 billion dollars (12.77 billion euros).