- November 27, 2017

Delivery Hero continues growth with revenues up 64% in the first nine months of 2017

Berlin, 27 November 2017 – Delivery Hero Group (“Delivery Hero”), the leading global online food ordering and delivery marketplace, continued its growth trajectory in the third quarter of 2017 with revenues increasing 60% year-over-year on a like-for-like basis to EUR 137.9 million (Q3 2016: EUR 86.1 million). All segments continued to contribute to the group’s growth. Delivery Hero generated revenues of EUR 384.4 million in the first nine months of 2017, an increase of 64% year-over-year on a like-for-like basis compared to the first nine months of the previous year.

Niklas Östberg, CEO of Delivery Hero, said:

“We have had another strong quarter and saw an impressive order and sales growth in all our markets. Overall, we are benefitting from a combination of structural market growth and the results of our ongoing investments in technology, marketing and the customer experience.”

Group financial performance nine months 2017 and Q3 2017:

  • Gross Merchandise Value (GMV) increased 48% year-over-year (like-for-like) in the first nine months of 2017 as Delivery Hero processed 206.1 million orders, an increase of 48% year-over-year, with a total GMV of EUR 2,727.9 million. In the third quarter of 2017 orders and GMV increased by 52% and 45% year-over-year, respectively (like-for-like).
  • Revenues grew in the first nine months of 2017 by 64% year-over-year (like-for-like) to EUR 384.4 million (9M 2016: EUR 235.0 million), driven by a strong order growth and an increase in take-rates. In Q3 2017 revenues were up 60% year-over-year (like-for-like).
  • On a constant currency basis, revenues increased by 69% year-over-year in the third quarter of 2017 on a like-for-like basis.
  • Growth across all regions on a like-for-like basis with nine months 2017 revenues in Europe growing by 39% (Q3 2017: +46%), in the MENA region (Middle East and North Africa) by 88% (Q3 2017: +91%), in Asia by 73% (Q3 2017: +47%) and in the Americas by 103% (Q3 2017: +80%).
  • Group take-rate improved in the first nine months of 2017 reaching 14.1% (9M 2016: 12.8%). Take-rates also increased across all regions: 17.3% in Europe (9M 2016: 16.1%), 10.8% in MENA (9M 2016: 9.2%), 15.6% in Asia (9M 2016: 13.7%) and 12.5% in the Americas (9M 2016: 10.3%).
  • Adjusted EBITDA has been developing as planned across all segments.
  • During the three months ended Sept 30 2017 the financial position of the group was primarily affected by the repayment of shareholder loans of EUR 190m and bank loans of EUR 110m.

Outlook confirmed and narrowed

Based on the strong business development during the first months of 2017, Delivery Hero confirms and narrows its full-year guidance with revenues at the top end of the guided range by approximately EUR 540 million and an adjusted EBITDA margin approximately -17% for the financial year 2017.

Key Performance Indicators 9M/Q3

    Q3 2016
Q3 2017


9M 2016
9M 2017



 % Mio/

Orders 49,1 74,3 52 % 139,2 206,1 48 %
GMV 673,3 975,3 45 % 1.842,0 2.727,9 48 %
Revenues   86,1 137,9 60 % 235,0 384,4 64 %
Orders 13,2 17,7 33 % 41,1 52,8 29 %
GMV 211,0 283,1 34 % 645,2 834,4 29 %
Revenues 33,3 48,6 46 % 103,8 144,1 39 %
Orders 18,5 31,7 71 % 52,1 85,6 64 %
GMV 229,7 366,2 59 % 603,3 967,9 60 %
Revenues 21,9 41,8 91 % 55,3 104,1 88 %
Orders 12,1 17,7 47 % 32,3 47,9 49 %
GMV 169,1 232,4 37 % 433,6 658,0 52 %
Revenues 24,2 35,5 47 % 59,4 102,7 73 %
Orders 5,2 7,3 39 % 13,8 19,7 43 %
GMV 63,5 93,7 48 % 159,9 267,6 67 %
Revenues 6,7 12,0 80 % 16,5 33,6    103%

– All numbers are excluding UK operations (discontinued operations).

  • – LfL (Like-for-Like): “Like for like” presents Delivery Hero’s results for the first nine months of 2016 as if the acquisition of foodpanda had occurred on 1 January 2016 and excludes contributions from operations reported in discontinued operations. In addition, please note that:
    • -No adjustments have been made for Hungerstation (first fully consolidated in July 2016).
    • -Asia KPIs exclude our former operations in China, which were sold in May 2016.
  • – Revenues presented for Delivery Hero represent the total segment revenues. Group revenues 9M 2017 were of €394m, reconciling effect primarily relate to food, order and delivery services where the Group is considered to act as principal as results of country specific service arrangements.


Financial Calendar 2018

Date Event
Feb 7, 2018 Full-Year 2017 Trading Update
Apr 26, 2018 Annual Report 2017
May 9, 2018 Q1 Quarterly Statement 2018
Jun 6, 2018 Annual General Meeting
Sep 13, 2018 Half-Year Report 2018
Nov 7, 2018 Q3/9M Quarterly Statement 2018


Disclaimer and further information

This information also contains forward-looking statements. These statements are based on the current view, expectations and assumptions of the management of Delivery Hero AG (“Delivery Hero”). Such statements are subject to known and unknown risks and uncertainties that are beyond Delivery Hero’s control or accurate estimates, such as the future market environment and the economic, legal and regulatory framework, the conduct of other market participants, the successful integration of newly acquired companies and the realization of expected synergy effects, as well as measures by public authorities. If any of these or other uncertainties and imponderables materialize, or if the assumptions, on which these statements are based, prove to be incorrect, actual results could differ materially from those expressed or implied by such statements. Delivery Hero does not warrant or assume any liability that the future development and future actual results will be consistent with the assumptions and estimates expressed in this report. Delivery Hero does not intend or assume any obligation to update forward-looking statements to reflect events or developments after the date of this report, except as required by law.

Due to rounding, it is possible that single figures in this and other documents do not add up exactly to the specified sum and that the percentages shown do not exactly reflect the absolute values to which they relate.

This document is also published in German. In the event of discrepancies, the German version of the report shall take precedence over the English translation.

About Delivery Hero

Delivery Hero is the leading global online food ordering and delivery marketplace with number one market positions in terms of restaurants, active users and orders in more countries 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 60+ high-density urban areas around the world. The Company is headquartered in Berlin and has over 6,000 employees in addition to thousands of employed delivery drivers.

For more information, please visit dhcorpdhstg.wpenginepowered.com.

WKN: A2E4K4; ISIN: DE000A2E4K43.


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