Delivery Hero with successful start to 2017

DGAP-News | 23 May 2017

DGAP-News: Delivery Hero GmbH / Key word(s): Quarterly / Interim Statement

23.05.2017 / 08:00
The issuer is solely responsible for the content of this announcement.

Berlin, 23 May 2017 - Delivery Hero Group ("Delivery Hero"), the leading global online food ordering and delivery marketplace, today reported strong revenue growth in the first quarter of 2017. Revenues nearly doubled to EUR 121 million (Q1 2016: EUR 63 million), corresponding to a growth rate of 93% or 68% on a like for like basis, while order numbers grew by 62% or 46% on a like for like basis.1, 2

Niklas Östberg, CEO of Delivery Hero, said:
"We continued on our growth path at the start of the year while also getting closer to profitability. We have continued to focus on creating an amazing takeaway experience and entered into new partnerships to expand our reach. This puts us in a strong position to maintain growth momentum throughout the year and in the medium term, while continuing to improve our profitability as we reach further scale."

Group financial developments1:

- Strong increase in first quarter (Q1) 2017 revenues by 93% to EUR 121 million (Q1 2016: EUR 63 million).

- Growth across all regions with revenues in Europe growing by 44% (38% like for like2), Middle East & North Africa by 92% (87% like for like2), Asia by 222% (99% like for like2) and Americas by 131% (131% like for like2).

Key developments1:

- Order numbers grew by 62% to 63 million in Q1 2017 (Q1 2016: 39 million), up 46% on a like for like basis2.

- GMV8 up by 62% as Delivery Hero processed orders with a total merchandise value of EUR 846 million (Q1 2016: EUR 521 million), up by 49% on a like for like basis2.

- On 1 April 2017, Delivery Hero announced a strategic partnership with AmRest, the largest publicly listed restaurant operator in Central Europe.

- On 9 May 2017, Delivery Hero together with Starship Technologies launched robot food delivery in Europe.

- On 10 May 2017, announced its partnership with McDonald's.

- Furthermore, in April 2017 Eric Lange, former VP Customer Experience at Indian e-Commerce marketplace Flipkart, became new Chief Product Officer.

- On 12 May 2017, it was announced that Naspers, a global internet and entertainment group and one of the world's largest technology investors, is investing EUR 387 million into newly issued and existing Delivery Hero shares and will also be represented with one member on Delivery Hero's Supervisory Board.


Delivery Hero Group - financial results1

  Q1 2017 Q1 2016 FY 2016
Group revenues (EUR in million) 121 63 2973
Total segment revenues (EUR in million) 118 62 290
Europe 47 33 141
MENA4 30 15 76
Asia5 32 10 49
Americas6 10 4 25
Total segment order numbers7 (in million) 63 39 171
Europe 17 13 52
MENA4 26 15 70
Asia5 14 7 30
Americas6 6 4 20
Total segment GMV8 (EUR in million) 846 521 2,324
Europe 273 209 851
MENA4 289 171 784
Asia5 205 100 457
Americas6 79 42 232

1 All numbers excluding UK operations (discontinued operations).
2 "Like for like" presents Delivery Hero's results for the first three months of 2016 as if the acquisition of foodpanda had occurred on 1 January 2016 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 Hungerstation (included from July 2016).
3 Group Revenues include total segment revenues and other reconciling items. foodpanda was only acquired on 31 December 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 more number one market positions, a larger addressable market and a higher number of orders 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 delivery service primarily in 50+ high-density urban areas around the world. The Company is headquartered in Berlin and has over 5,000 employees.

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


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.

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23.05.2017 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.

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