Delivery Hero SE expects its food delivery business to break even during the second half of 2022

DGAP-Ad-hoc | 10 Jan 2022

Delivery Hero SE / Key word(s): Forecast
Delivery Hero SE expects its food delivery business to break even during the second half of 2022

10-Jan-2022 / 22:20 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

Public disclosure of inside information according to Article 17 para. 1 of the Regulation (EU) No 596/2014 on market abuse (Market Abuse Regulation - MAR)

Delivery Hero SE expects its food delivery business to break even during the second half of 2022

Berlin, 10 January 2022 - Based on the latest review of the financial information, including the recent acquisition of GlovoApp23, S.L. ("Glovo"), Delivery Hero SE ("Delivery Hero" or the "Company", ISIN: DE000A2E4K43, Frankfurt Stock Exchange: DHER) announces that it expects its food delivery business to break even during the second half of 2022 and to generate between EUR 0 and 100 million in adjusted EBITDA in the fourth quarter of 2022, while investments related to its quick commerce business are predicted to peak in the first quarter of 2022 and gradually decline thereafter. Delivery Hero reconfirms its long-term adjusted EBITDA/GMV margin target of 5-8% on a group level.

This outlook takes into account the acquisition of additional shares in Glovo, a pioneering multi-category delivery app and one of the world's leading delivery companies, announced on December 31, 2021, which will result in Delivery Hero holding approx. 83% in Glovo, on a non-diluted basis.

Regarding the definition of the alternative performance measures, adjusted EBITDA and GMV, as well as related information, the Company refers to the corresponding definition in its 2020 Annual Report, which has been published on the Company's website.


Responsible person for this publication:

Christoph Bast
Head of Investor Relations

Investor Relations Press
Christoph Bast
Head of Investor Relations
Kingsum Li
Corporate & Financial Communications


This release may contain forward looking statements, 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," "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 SE 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 included herein only speak as at the date of this 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.

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Language: English
Company: Delivery Hero SE
Oranienburger Straße 70
10117 Berlin
Phone: +49 (0)30 5444 59 105
Fax: +49 (0)30 5444 59 024
ISIN: DE000A2E4K43
Indices: DAX
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: 1266998

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1266998  10-Jan-2022 CET/CEST