(Reuters) -Germain online delivered Girman on the Internet on Wednesday to reducing its modified profits in the whole year and free cash flow expectations to reflect the opposite winds of the foreign exchange rate.
The company now expects profits after interest, taxes, depreciation and fire between 900 million and 940 million euros (1.10 billion dollars) from its previous forecasts ranging between 975 million and 1025 million euros, while reducing the forecasts of free cash flow by about 40 % to more than 120 million euros.
The company said that GMV, a common measure of delivery companies that measure the total value of all goods sold, is expected to grow at the upper end of 8 % to 10 % for this year.
In April, the company confirmed its forecast for 2025, but sliding in growth in the decisive Asian market has led investors and analysts to question the optimistic narration of the region.
On the basic Asian market, the company GMV decreased to 5.4 billion euros in the first quarter of 6.1 billion euros in the previous year and a little consensus expectations.
The delivery hero is in more than 70 countries around the world, including 16 in Europe.
($ 1 = 0.8542 euros)
(Participated in the reports of Angela Christie in Bangaluru; edited by Vijay Kishor)
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