Foodpanda Bangladesh Incurs Losses Exceeding Tk1,000 Crore

Industry: Food, Start-Up
Company: Foodpanda Bangladesh Limited
Company Intelligence Tag: Business Insights

Foodpanda businesses in Bangladesh accumulated losses exceeding Tk1,000 crore by the end of 2023, according to its German parent company Delivery Hero. The cumulative loss of Foodpanda’s three Bangladeshi entities amounted to €86.22 million (around Tk1,013 crore). Foodpanda Bangladesh Ltd accounted for the largest portion with over €69.5 million in losses since 2016. Delivery Hero Stores (Bangladesh) Ltd, which operates Pandamart, accrued over €15 million in losses over four years, while DH Kitchens (Bangladesh) Ltd incurred a €1.54 million net loss. Although the companies managed to reduce their losses in 2023, it never achieved profitability. Foodpanda Bangladesh’s net loss decreased to €10.13 million from €18.29 million in 2022 after downsizing measures. However, the Russia-Ukraine war-induced inflation has led to a deceleration in the food delivery market, prompting companies like Delivery Hero to prioritize profitability over aggressive expansion through discounts and marketing efforts.

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