Delivery Hero continues on strong growth path in 2016

DGAP-News | 24 Apr 2017

DGAP-News: Delivery Hero GmbH / Key word(s): Final Results

24.04.2017 / 13:01
The issuer is solely responsible for the content of this announcement.

Delivery Hero Group ("Delivery Hero"), the leading global online food ordering and delivery marketplace, further strengthened its leading market position in 2016 as full-year revenues grew by 79%1, and by 71% on a like for like basis1 2, compared to 2015 driven by organic and external growth.

Niklas Östberg, CEO of Delivery Hero, said:
"We had a fantastic year 2016 and we expect to continue on our strong growth trajectory in 2017 and in the medium term. To maintain this momentum, we will continue to invest into expanding our leadership in the online food ordering and delivery market. We are evaluating a variety of financing options at our disposal, including a potential IPO."

Group financial developments1:

- Substantial increase in full-year (FY) 2016 revenues by 79% to EUR 297 million (FY 2015: EUR 166 million), driven by organic and external growth.

- Strong growth across all regions with revenues in Europe growing by 53% (52% like for like2), Middle East & North Africa (MENA) by 148% (82% like for like2), Asia by 54% (77% like for like2) and Americas by 117% (117% like for like2).

- Significant improvement in results despite continued strong investment in further growth.

Key developments1:

- Order numbers grew by 65% to 171 million in 2016 (FY 2015: 103 million), up 52% on a like for like basis2, making Delivery Hero the number one online food and delivery marketplace in the majority of the more than 40 countries in which it operates.

- GMV up by 62% as Delivery Hero processed orders with a total merchandise value of EUR 2,324 million (FY 2015: EUR 1,430 million), up by 51% on a like for like basis2.

- On December 31, 2016, Delivery Hero significantly expanded its geographic footprint through the acquisition and successful integration of the foodpanda Group ("foodpanda"), which added 20 countries to Delivery Hero's portfolio, giving it access to markets where Delivery Hero sees particularly strong growth prospects, especially in the Middle East and South East Asia. On a pro forma basis, i.e., adding revenue of foodpanda to revenue of Delivery Hero as if foodpanda had been acquired as of January 1, 2016, Delivery Hero's revenue would have been EUR 347 million in 2016.

- The sale of hungryhouse Group in the UK for over £200 million in December 2016, which is subject to certain regulatory approvals and is expected to be completed in the course of 2017, rationalizes Delivery Hero's global footprint, and underlines its strategy to remain focused on operating market leading brands globally.

Delivery Hero Group - full-year results 20161

  FY 2016 FY 2015
Group revenues (EUR in million) 2973 166
Revenues per segment (EUR in million) 290 166
Europe 141 92
MENA4 76 30
Asia5 49 32
Americas6 25 11
Order numbers7 per segment (in million) 171 103
Europe 52 39
MENA4 70 32
Asia5 30 23
Americas6 20 10
GMV8 per segment (EUR in million) 2,324 1,430
Europe 851 663
MENA4 784 334
Asia5 457 309
Americas6 232 124

1 All numbers excluding UK operations (discontinued operations).
2 "Like for like" presents Delivery Hero's results for 2015 and 2016 as if the acquisitions of foodpanda, Yemek Sepeti, Talabat and E-food had occurred on January 1, 2015 and excludes contributions from operations reported in discontinued operations as well as orders and GMV from Delivery Hero's Chinese operations which were sold in the first half of 2016. No adjustments have been made for foodora (included from October 2015) and Hungerstation (included from July 2016).
3 Group Revenues include total revenues per segment and other reconciling items. Yemek Sepeti, Talabat and e-Food are only included from the time of their respective acquisition in 2015. foodpanda was only acquired on December 31, 2016, accordingly, no revenue contributions from foodpanda are included.
4 MENA: Middle East & North Africa, incl. Turkey
5 Asia: incl. Australia
6 Americas: incl. Canada
7 Order numbers capture the orders made by the end consumers in the presented period
8 GMV represents the value of goods including value added tax transmitted to restaurants, which is used as basis to assess the commissions.

About Delivery Hero
Delivery Hero is the leading global online food ordering and delivery marketplace with number one market positions in terms of restaurants, active users, gross merchandise value or website traffic, in more countries than any of its competitors and online and mobile platforms across 40+ countries in Europe, the Middle East & North Africa (MENA), Latin America and the Asia-Pacific region. Delivery Hero also operates its own last-mile food delivery primarily in 50+ high-density urban areas around the world. The Company is headquartered in Berlin and has over 5,000 employees.

This press release may contain forward looking statements, estimates, opinions and projections with respect to anticipated future performance of the Company ("forward-looking statements"). These forward-looking statements can be identified by the use of forward-looking terminology, including the terms "believes," "estimates," "anticipates," "expects," "intends," "may," "will" or "should" or, in each case, their negative, or other variations or comparable terminology. These forward-looking statements include all matters that are not historical facts. Forward-looking statements are based on the current views, expectations and assumptions of the management of Delivery Hero and involve significant known and unknown risks and uncertainties that could cause actual results, performance or events to differ materially from those expressed or implied in such statements. Forward-looking statements should not be read as guarantees of future performance or results and will not necessarily be accurate indications of whether or not such results will be achieved. Any forward-looking statements only speak as at the date of this press release. We undertake no obligation, and do not expect to publicly update, or publicly revise, any of the information, forward-looking statements or the conclusions contained herein or to reflect new events or circumstances or to correct any inaccuracies which may become apparent subsequent to the date hereof, whether as a result of new information, future events or otherwise. We accept no liability whatsoever in respect of the achievement of such forward-looking statements and assumptions.

Media Enquiries
Bodo v. Braunmühl, Head of Corporate Communications, Delivery Hero
+49 (30) 544 45 9090

24.04.2017 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at

show this