Delivery Hero SE: Delivery Hero SE reports revenues up by 60% in the first half of 2018 and invests further for growth by up to EUR 80 million
Delivery Hero SE / Key word(s): Strategic Company Decision/Change in Forecast
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 reports revenues up by 60% in the first half of 2018 and invests further for growth by up to EUR 80 million
Berlin, August 2 2018 - Today, Delivery Hero SE ("Delivery Hero") has decided to opportunistically deploy up to EUR 80 million in order to take advantage of positive business performance and an increasing food delivery market. Delivery Hero has identified clear opportunities to invest at attractive returns and to further build leadership positions. These investments will be allocated across marketing, restaurant coverage, technology and product capabilities in the second half of 2018. At the same time, Delivery Hero reports its first half-year revenues up by 60% on a like-for-like and constant currency basis and by 48% reported.
Delivery Hero expects the planned investments to increase revenues by EUR 9 million in 2018 and EUR 25 million in 2019, with continued incremental future revenues from returning customers.
Driven by these investments and positive business performance, Delivery Hero raises its revenue guidance by EUR 35 million and expects full year revenues of between EUR 760 million and EUR 780 million in 2018, after adjustments of EUR 20 million for planned divestments. Delivery Hero is on track with its previous full year adjusted EBITDA guidance prior to the additional investments that will reduce adjusted EBITDA by up to EUR 80 million. As a result of the investments, Delivery Hero does not expect to reach breakeven on an adjusted EBITDA basis in December 2018 on a monthly level and, as Delivery Hero expects to continue investing at similar levels during the course of 2019, and for the full year 2019, as previously intended.
- Revenues presented for Delivery Hero Group represent the total segment revenues
- Adjusted EBITDA is the earnings from continuing operations before income taxes, financial result, depreciation and amortization and non-operating earning effects
- Adjusted EBITDA margin is adjusted EBITDA divided by revenues
For further information on financial performance measures used by Delivery Hero including reconciliations, see Delivery Hero's 2017 annual report.
|Company:||Delivery Hero SE|
|Oranienburger Straße 70|
|Phone:||+49 (0)30 5444 59 000|
|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|
|End of Announcement||DGAP News Service|