DGAP-News | 14 Nov 2023
Delivery Hero SE
/ Key word(s): Quarterly / Interim Statement
Berlin, 14 November 2023 – Delivery Hero SE (“Delivery Hero”, the “Company” or the “Group”), the world’s leading local delivery platform, today announced an acceleration of GMV growth to 9% YoY1 and continued monetization optimization, leading to Total Segment Revenue growth of 16%1 YoY in its Q3 results. The Company also confirmed it was on track to reach an adjusted EBITDA/GMV margin of more than 0.5% for FY 2023 and more than 1% in H2 2023. This means that Delivery Hero expects to improve its adjusted EBITDA by more than EUR 850 million YoY in FY 2023. Additionally, the Company raised its guidance for GMV growth to the upper end of 5-7% YoY1 in FY 2023. Delivery Hero’s financial position remains solid.
Niklas Östberg, CEO and Co-Founder of Delivery Hero, said: “We are super excited by our progress as we drive the business towards positive Free Cash Flow. We doubled down on tech and innovation initiatives, delivering solutions for our customers while also optimizing our operations both on a country, regional, and global level. I’m very grateful to our teams around the world for the strong developments they made this quarter.”
Looking ahead, as margins in the countries with profitable Platform businesses improve throughout the year, they are expected to generate more than EUR 1.3 billion adjusted EBITDA run-rate in Q4 2023, an expansion of more than 30% compared to Q4 2022. Delivery Hero has also seen large margin improvements for countries that are still loss making, and now anticipates progress in adjusted EBITDA/GMV margin to around -2.2% in Q4 2023, up from -4.8% in Q4 last year. A key driver for improvement is the APAC business reaching positive adjusted EBITDA before Group costs in October.
Emmanuel Thomassin, CFO of Delivery Hero, said: “After another strong quarter we can confirm that we are on course to reach our full year EBITDA guidance, putting us in a strong position for our long term profitability goals. We have seen positive developments in the Gross Profit margin within both our Platform business and Integrated Verticals. The Americas recorded a Gross Profit margin of close to 10%, while APAC2 saw it grow to more than 10% due to stronger unit economics and improved delivery costs. This will allow us to continue driving our food delivery and Quick Commerce offerings around the world with greater products, service and availability for our customers.”
Delivery Hero – Guidance FY 2023
Delivery Hero – Key Performance Indicators Q3 2023
For Group, MENA, Americas and Integrated Verticals, revenues and Gross Merchandise Value (GMV) as well as the respective growth rates are impacted by the Argentine, Lebanese and/or Turkish operations qualifying as hyperinflationary economies according to IAS 29.
RC = Reported Currency / CC = Constant Currency.
1. Difference between Total Segment Revenue and the sum of segment revenues is mainly due to intersegment consolidation adjustments for services charged by the Platform businesses to the Integrated Verticals businesses.
ABOUT DELIVERY HERO
Delivery Hero is the world’s leading local delivery platform, operating its service in over 70 countries across Asia, Europe, Latin America, the Middle East and Africa. The Company started as a food delivery service in 2011 and today runs its own delivery platform on four continents. Additionally, Delivery Hero is pioneering quick commerce, the next generation of e-commerce, aiming to bring groceries and household goods to customers in under one hour and often in 20 to 30 minutes. Headquartered in Berlin, Germany, Delivery Hero has been listed on the Frankfurt Stock Exchange since 2017 and is now part of the MDAX stock market index. For more information, please visit www.deliveryhero.com
+49 1515 701 7625
INVESTOR RELATIONS CONTACT
Head of Investor Relations
+49 160 30 13 435
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.
14.11.2023 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG.
|Company:||Delivery Hero SE|
|Oranienburger Straße 70|
|Phone:||+49 (0)30 5444 59 105|
|Fax:||+49 (0)30 5444 59 024|
|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:||1772313|
|End of News||EQS News Service|
1772313 14.11.2023 CET/CEST