efood: Turnover increased by 20.2% in Greece

The efood order delivery service sector finished 2022 with a strong performance, as it shows noticeable changes in the basic figures.

According to the financial statements of Online Delivery, a subsidiary of Delivery Hero in Greece, turnover last year increased by 20.2% to 135.6 million euros compared to 2021. Increased by 27% in 36,8 million euros appear in EBITDA, with net profits showing an even greater positive change of 42.6% to 25.2 million euros. Revenue from other services amounted to 11.5 million euros, while 3.8 million euros came from services offered to related entities.

In its announcement, the company states that the largest percentage of its revenues came from the commissions of the cooperating stores, as they reached 88.2 million euros, from 77.15 million euros in 2021. The revenues from services to the platform’s customers, which in 2022 amounted to 32 million euros from 24.4 million euros a year earlier.

Having recorded a year of strong performance, the company decided to distribute a total of 22 million euros in dividends to its shareholders for 2022 -following the relevant approval by the general meeting of shareholders held on October 18, 2022-, against 20 million .euro in 2021.

The company’s management notes that the increase in revenue is based on the overall increase in orders, the greater use of the company’s services by stores (b2b), which relate to the possibilities of promoting businesses and their products on the platform, and the overall increase in online shopping by consumers.

On the other hand, the increase in orders and the consequent increase in distribution activity and distributor fees, combined with increased advertising expenses, led to a rise in the company’s expenses from 66.8 million euros in 2021 to 78 .4 million euros in 2022.

It should be noted that 2022 was a year in which Delivery Hero launched a new electronic payment service. Delivery Hero Payments which is affiliated with the company in Greece, after securing the authorization of the Bank of Greece, now manages the electronic payments and the payment of products through its platform. The company is looking to penetrate more into the fintech industry.