Delivery Hero raises full-year guidance after record growth in Q2

DGAP-News | 28 Jul 2020

Delivery Hero SE / Key word(s): Quarter Results
Delivery Hero raises full-year guidance after record growth in Q2

28.07.2020 / 06:59
The issuer is solely responsible for the content of this announcement.

  • Delivery Hero nearly doubles Q2 order growth year-on-year (YoY) to 281 million, with 4 million orders delivered in a single day and over 100 million orders delivered in June
  • Delivery Hero raises full-year revenue guidance from EUR 2.4-2.6 to EUR 2.6-2.8 billion
  • Q2 Gross Merchandise Volume (GMV) up 66% YoY at EUR 2.8 billion, Q2 revenue up 96% YoY at EUR 612 million
  • Quick commerce (q-commerce) orders double to more than 10 million from Q1 to Q2
  • Global footprint expands as Delivery Hero enters Japan in Q3
  • Delivery Hero supports restaurants, riders, and local communities during the COVID-19 pandemic and partners with public institutions to deliver essential goods and medical supplies

Berlin, July 28, 2020 - Delivery Hero SE ("Delivery Hero"), the world's leading local delivery platform, continued on its unprecedented growth path in the second quarter of 2020, prompting the company to increase its full-year revenue forecast from EUR 2.4-2.6 to EUR 2.6-2.8 billion.

Delivery Hero's orders almost doubled (+95% YoY) to a record 281 million in the second quarter, far ahead of its peers. After an initial drop from March until May due to COVID-19, Delivery Hero's order growth is back on track and the company broke its record of monthly orders with more than 100 million orders delivered in June (+105% YoY). Continuing at this pace, 2020 is set to be the first year in which Delivery Hero will total more than one billion orders on its platforms.

In the second quarter, GMV grew by 66% YoY to EUR 2.8 billion and group revenues surpassed the EUR 600 million mark, nearly doubling to EUR 612 million (+96% YoY). Delivery Hero continues to focus on innovating for a seamless order experience and fast deliveries, with more than a third (37%) of orders being delivered in less than 20 minutes.

Niklas Östberg, CEO of Delivery Hero, said: "We are proud of the incredible performance in Q2. Initiatives to expand our services, improve operational performance and invest in q-commerce are driving our business to record highs. It's encouraging to see more and more people turning to Delivery Hero for their daily needs. Thanks to the ability to quickly adapt to recent market developments, we are raising our full-year guidance to EUR 2.6-2.8 billion."

Delivery Hero expands support for delivery ecosystem and communities
Delivery Hero continues to place the safety of its riders, restaurants, customers and employees first. The platform established partnerships with governments to distribute hygiene products and collaborated with charities like the Red Cross to make sure elderly and vulnerable groups receive food and medical supplies, in the combat against COVID-19.

By increasing product innovation and targeted marketing campaigns, Delivery Hero's expanded services are supporting both restaurants and customers throughout the pandemic. Introducing features such as seamless platform onboarding for vendors, no-contact and free delivery, as well as enabling safer dining-in options with contactless orders, the company's offering now includes more than 630,000 restaurants. With approximately 130,000 restaurants added in Q2 alone, Delivery Hero can provide its customers with the widest and most diverse selection globally outside of China.

Riders are the backbone of Delivery Hero's operations. The company launched a EUR 3 million Rider Financial Support Program in April to provide freelance riders with financial assistance during the pandemic. To protect the health of its riders, Delivery Hero consulted doctors to create interactive safety instructions and continues to provide sanitizer, masks, and safety materials along with reinforcing safety guidelines.

Giving back to the communities in which it operates, the company has, besides encouraging home delivery and social distancing, donated meals to frontline workers and people in need. For example, in Saudi Arabia, HungerStation partnered with the Food Bank to donate 554,000 meals, and in Turkey, Yemeksepeti donated 150,000 pizzas to 55 hospitals.

Cementing leadership in q-commerce as orders double
Scaling up its capabilities to ensure convenient deliveries of groceries, pharma products, flowers, and more, Delivery Hero now offers quick commerce services to customers in 38 markets across four continents. Q-commerce orders were up 98% from the previous quarter at 10.5 million in Q2. Delivery Hero plans to expand its q-commerce offering as it pushes ahead on its journey to deliver anything - locally.

Built on two pillars, partnerships with local partners and Dmarts (local warehouses also known as cloud stores), q-commerce is giving customers the speed and choice to order whatever they need, whenever they need it. In Turkey, Yemeksepeti delivered almost 400,000 grocery items in a single day in June- only a year after launching.

Moreover, Delivery Hero is running q-commerce with over 20,000 local partners to give a broad variety of choice and operating approximately 150 Dmarts in eleven countries to offer instant delivery (with the aim to deliver in less than 15 minutes). Delivery Hero's q-commerce story is just getting started: The company expects to operate 400 Dmart stores by the end of 2020. The potential q-commerce market is estimated at EUR 56 billion in Delivery Hero's active countries and EUR 448 billion globally by 2030, offering significant room for continued expansion.

Strategic investments drive new market entry
In Q3, Delivery Hero will launch operations in Japan under the foodpanda brand. The launch is a natural evolution of the company's Asian footprint and builds upon the successful market entry in Cambodia, Laos, and Myanmar at the end of 2019.

In line with the company ambition of adding high potential markets with strong growth possibilities, Japan offers an attractive investment opportunity because of still being an early stage delivery industry. The company plans to invest EUR 20-30 million to get started on the ground in Japan.

Emmanuel Thomassin, CFO of Delivery Hero, said: "Even in these unprecedented times, we have seen record growth across Delivery Hero's markets, putting us in a strong place to build out our global leadership position. We are excited to announce that we will launch operations in Japan, the world's third-largest economy, in Q3. Japan is the greatest underpenetrated delivery market outside of China, and we see great potential to win market shares in this early stage environment."

Delivery Hero continues to expect regulatory approval for the acquisition of South Korean online food delivery platform BDMJ in the second half of 2020.

Media Call
Niklas Östberg (CEO), Emmanuel Thomassin (CFO) and Sigrid Dalberg-Krajewski (Director, Global Corporate Communications) will host a media call to discuss the results at 08:00 am CEST / 07:00 am BST on July 28, 2020.

Please use the following dial ins to join the media call:

DE: +4969201744220 | UK: +442030092470 | US: +18774230830

Participant PIN code: 56778332#

Link to media call presentation:

Financial Calendar 2020
Delivery Hero will publish its H1 2020 results on August 27 and its Q3 results on October 28, 2020.

Delivery Hero - Key Performance Indicators Q2 2020

  Q2 2019 Q2 2020
Orders (Unit million) Group 144.2 280.6
%YoY Growth 67.0% 94.5%
%OD Orders 29.9% 62.1%
Asia 40.2 156.8
MENA 70.6 66.5
Europe 20.8 30.6
Americas 12.6 26.6
Integrated Verticals   4.1
GMV Group 1,2 1,684.1 2,767.6
%YoY Growth (RC) 3 61.8% 64.3%
%YoY Growth (CC) 4 63.7% 66.3%
Asia 479.0 1,275.8
MENA 813.8 822.1
Europe 248.6 420.3
Americas 142.7 249.4
Integrated Verticals   36.9
Total Segment Revenues Group 1,2 314.7 612.1
%YoY Growth (RC) 3 103.6% 94.5%
%YoY Growth (CC) 4 103.0% 96.2%
Asia 83.0 280.3
MENA 164.3 165.9
Europe 41.3 76.1
Americas 1,2 26.1 57.2
Integrated Verticals   35.4

1 America's revenues and GMV are impacted by the Argentinian operations qualifying as hyperinflationary economy according to IAS 29 beginning 1 September 2018.
2 The company's constant currency calculation includes reported current growth rates for Argentina due to the effects of hyperinflation.
3 Reported Currency Growth.
4 Constant Currency Growth.


Delivery Hero is the world's leading local delivery platform. The company holds a leadership position in 39 out of 43 countries across Europe, Latin America, Asia, the Middle East and North Africa in terms of restaurants, active users, orders, online and mobile platforms. Delivery Hero also operates its own delivery service primarily in over 600 cities around the globe. Headquartered in Berlin, Germany, the Company has more than 25,000 employees. For further information, please visit

PRESSE CONTACT                                      INVESTOR RELATIONS CONTACT
Sigrid Dalberg-Krajewski                                Daniel Fard-Yazdani
Director, Global Corporate Communications  VP, Head of Investor Relations
+49 170 56 35 160                                          +49 175 55 26 027                       


The press release contains forward looking statements, other estimates, opinions and projections with respect to anticipated future performance of Delivery Hero SE ("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", "aims", "plans", "predicts", "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. They appear in a number of places throughout this press release and include statements regarding Delivery Hero SE's intentions, beliefs or current expectations concerning, among other things, Delivery Hero SE's prospects, growth, strategies, the industry in which it operates and potential or ongoing acquisitions. By their nature, Forward-looking Statements involve significant risks and uncertainties, because they relate to events and depend on circumstances that may or may not occur in the future. 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. Similarly, past performance should not be taken as an indication of future results, and nor representation or warranty, express or implied, is made regarding future performance. The development of Delivery Hero SE's prospects, growth, strategies, the industry in which it operates, and the effect of acquisitions on Delivery Hero SE may differ materially from those made in or suggested by the Forward-looking Statements contained in this presentation or past performance. In addition, even if the development of Delivery Hero SE's prospects, growth, strategies and the industry in which it operates are consistent with the Forward-looking Statements contained in this presentation or past performance, those developments may not be indicative of Delivery Hero SE's results, liquidity or financial position or of results or developments in subsequent periods not covered by this presentation. Any Forward-Looking Statements only speak as at the date of this press release is provided to the recipient and it is up to the recipient to make its own assessment of the validity of any Forward-looking Statements and assumptions. No liability whatsoever is accepted by Delivery Hero SE in respect of the achievement of such Forward-looking Statements and assumptions.


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Language: English
Company: Delivery Hero SE
Oranienburger Straße 70
10117 Berlin
Fax: +49 (0)30 5444 59 024
ISIN: DE000A2E4K43
Indices: MDAX
Listed: Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange; London, OTC QB, OTC QX, SIX, Vienna Stock Exchange
EQS News ID: 1103357

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1103357  28.07.2020