DGAP-News: Delivery Hero SE
/ Key word(s): Quarterly / Interim Statement
Berlin, 16 August 2022 – Delivery Hero SE (“Delivery Hero”, the “Company” or the “Group”), the world’s leading local delivery platform, concludes Q2 2022 with Gross Merchandise Value (GMV) growing 18% YoY to EUR 9.9 billion and a Total Segment Revenue increase of 38% YoY, leading up to EUR 2.1 billion. With a new record high contribution margin in own-delivery[2], driven by Asia and Europe segments, and increased market share in key regions, the Company wraps up a successful second quarter despite continued easing of COVID restrictions. The strong performance confirms the Company’s current guidance issued on 22 July 2022, upholding its long-term target to achieve an adjusted EBITDA/GMV margin of 5-8%, and creates a robust momentum for Q3 2022. Based on the first six weeks of GMV data, Delivery Hero anticipates a GMV growth of 7% QoQ to EUR 10.6 billion (EUR 11.5 billion including Glovo) in Q3 2022, where the Asia Platform business expects a GMV growth of 8% QoQ to EUR 7 billion.
Niklas Östberg, CEO and Co-Founder of Delivery Hero, said: “We have a strong track record of delivering growth, even in a challenging environment, and have been able to demonstrate this once again in the past quarter. We continue to work towards achieving our guidance on positive adjusted EBITDA for our Platform business in FY 2022[3] and accelerating our profitability goals at Group level.”
Strong trajectory towards profitability
In July 2022, Delivery Hero welcomed Glovo to the family. With a leading presence in Europe, Central Asia and Africa, more than 50% of Glovo’s GMV now contributes a positive adjusted EBITDA[5]. Including the newest member of the Group, Delivery Hero expects its Platform business to achieve break-even in terms of adjusted EBITDA during Q3 2022, and to generate between EUR 40 million and EUR 120 million in Q4 2022. Delivery Hero plans to achieve positive adjusted EBITDA for the entire Group in FY 2023.
Emmanuel Thomassin, CFO of Delivery Hero, said: “We had a very solid quarter throughout all segments, with the Integrated Verticals segment[6] showing a strong GMV growth of 75% YoY - despite the planned deceleration of new Dmart[7] openings, with a total of 1,125 stores by the end of June. Meanwhile, our constant focus on unit economics and product assortment led to a basket size increase of 27% YoY in Q2 2022, driving further increase in gross profit margins. In the second half of 2022, we will continue to work on optimizing our store network and operational efficiency.”
Improved financial position
Committing to sustainable practices
Delivery Hero – Key Performance Indicators Q2 2022
Note: 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.
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DISCLAIMER
[1] Platform business corresponds to the four regional segments of the Delivery Hero Group (Americas, Asia, Europe, MENA) including group costs. The Integrated Verticals segment is not part of the Platform business. [2] Customer orders are fulfilled by Delivery Hero’s own delivery fleet. [3] Excluding Glovo. [4] Excluding one-off effects (e.g. hyperinflation in Turkey, according to IAS 29). [5] Before allocation of Glovo’s central costs. [6] The segment Integrated Verticals captures the business where Delivery Hero acts as a principal. [7] Delivery Hero-owned small warehouses located in strategically relevant locations for delivery.
16.08.2022 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. |
Language: | English |
Company: | Delivery Hero SE |
Oranienburger Straße 70 | |
10117 Berlin | |
Germany | |
Phone: | +49 (0)30 5444 59 105 |
Fax: | +49 (0)30 5444 59 024 |
E-mail: | ir@deliveryhero.com |
Internet: | www.deliveryhero.com |
ISIN: | DE000A2E4K43 |
WKN: | A2E4K4 |
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: | 1420755 |
End of News | DGAP News Service |
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1420755 16.08.2022
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