Glovo continues to be a loss-making business eight years after its birth. According to the accounts published this morning by Delivery Hero, owner of the Catalan platform since last year, Glovo registered gross losses (Ebitda) of 304 million euros in 2022, compared to 475 million euros in 2021.
The German group does not break down the income figure of the Barcelona platform, founded by Oscar Pierre and Sacha Michaud. On the other hand, it ensures that the multinational bills as a whole a total of 9,589.7 million euros, an increase of 32% compared to the previous year. By geographic region, one third of revenues come from Asia, 22% from the Middle East, 10% from Europe and the rest from America. The group also has gross losses, which exceed 623 million euros, compared to 1,087 the previous year.
"In 2022, the entire industry had to face many challenges and we made an effort to come out winners. In 2023, we will continue on this path and confirm that we will have positive gross profit this year. Ebitda will be around 0.5% in the whole of 2023 and 1% in the second half", the financial director, Emmanuel Thomassin, said in a statement.
Due to the unfavorable situation, marked by a drop in demand and the rise in interest rates, Glovo announced this month the cut of 6.5% of the workforce, some 250 workers. The measure will mainly affect the team in Barcelona, a city where the company employs some 1,700 people.
