Delivery Hero continues its strong performance with revenues up 62% and raises full year revenue guidance
Berlin, 07 November 2018 – Delivery Hero Group (“Delivery Hero”), one of the leading global online food ordering and delivery marketplaces, continues its growth path with 62% year on year revenue growth in the third quarter on a constant currency basis.
Niklas Östberg, CEO of Delivery Hero, said:
“We had an excellent third quarter with our business continuing to perform extremely well globally. We are also very happy with the initial results of our additional investments. We are taking advantage of many opportunities to scale our early stage markets and to further increase our leadership positions. We feel we are in a great position going into the fourth quarter and into next year.”
Group Financial Performance Q3 2018:
- Orders grew by 45% to 102 million
- Gross Merchandise Value (GMV) grew by 48% on constant currency and by 39% as reported to EUR 1,308 million
- Revenues grew by 62% on constant currency and by 56% as reported to EUR 202 million
- Group take-rate improved to 15.4% and group take-rate excluding own delivery orders to 11.3%
Key Operational Highlights:
- Built clear leadership in own delivery with over 16 million orders in the third quarter, available in over 200 cities and representing 15.9% of group orders
- Improved our operational efficiency with several operations migrated onto our global platforms and deployment of our personalized recommendation service in 18 countries
- Continued business performance of our minority holdings with a last portfolio value for all our minority interests of EUR 284 million
Delivery Hero raises its revenue guidance to between EUR 780 million and EUR 785 million based on the positive business performance and the successful increase of investments across the group. Adjusted EBITDA is expected to be in-line with previous guidance and Delivery Hero expects to invest the full EUR 80 million of additional investments in the second half of 2018.
Key Performance Indicators Q3
|Q3 2018||Q3 2017
|Constant Currency Change
|9M 2018||9M 2017
|Constant Currency Change
|EUR million||%||%||EUR million||EUR million||%||%|
|Orders (Unit Mn)||102.5||70.6||45.1%||45.1%||284.5||195.2||45.7%||45.7%|
|Total Segment Revenues||201.71||129.1||56.3%||61.6%2||544.2||357.7||52.1%||62.6%2|
- Americas revenues and growth rates are impacted by the Argentinian operations qualifying as hyperinflationary economy according to IAS 29 beginning 1 September 2018. YTD 2018 revenue is retrospectively adjusted. Comparability is affected as prior period information is not restated
- Constant currency growth rates for the group total segment revenue and Americas revenue exclude hyperinflation in Argentina.
- Gross Merchandise Value (GMV) is the total value of orders (including VAT) transmitted to restaurants.
- Revenues are total segment revenues prior to IFRS 15 and any adjustments for discounts.
- Constant Currency provides an indication of the business performance by removing the impact of foreign exchange rate movements.
- All numbers have been adjusted and exclude divestments of India and foodora (Australia, France, Italy and Netherlands):
- In 2017, India revenues were EUR 2.3 million in Q1, EUR 2.6 million in Q2, EUR 2.5 million in Q3 and EUR 2.5 million in Q4
- In 2017, foodora (Australia, France, Italy and Netherlands) revenues were EUR 6.3 million in Q3 and EUR 7.6 million in Q4. In 2018, revenues were EUR 7.4 million in Q1, EUR 7.1 million in Q2 and EUR 3.9 million in Q3
- Numbers have not been adjusted for smaller acquisitions or divestments
About Delivery Hero:
Delivery Hero is one of 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 39 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 200 cities around the world. The Company is headquartered in Berlin and has over 21,000 employees.
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WKN: A2E4K4; ISIN: DE000A2E4K43.
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The presentation contains forward looking statements, other 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”, “aims”, “plans”, “predicts”, “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. They appear in a number of places throughout this press release and include statements regarding Delivery Hero SE’s intentions, beliefs or current expectations concerning, among other things, Delivery Hero SE’s prospects, growth, strategies, the industry in which it operates and potential or ongoing acquisitions. By their nature, Forward-looking Statements involve significant risks and uncertainties, because they relate to events and depend on circumstances that may or may not occur in the future. 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. Similarly, past performance should not be taken as an indication of future results, and nor representation or warranty, express or implied, is made regarding future performance. The development of Delivery Hero SE’s prospects, growth, strategies, the industry in which it operates, and the effect of acquisitions on Delivery Hero SE may differ materially from those made in or suggested by the Forward-looking Statements contained in this presentation or past performance. In addition, even if the development of Delivery Hero SE’s prospects, growth, strategies and the industry in which it operates are consistent with the Forward-looking Statements contained in this presentation or past performance, those developments may not be indicative of Delivery Hero SE’s results, liquidity or financial position or of results or developments in subsequent periods not covered by this presentation. Any Forward-Looking Statements only speak as at the date of this press release is provided to the recipient and it is up to the recipient to make its own assessment of the validity of any Forward-looking Statements and assumptions. No liability whatsoever is accepted by Delivery Hero SE in respect of the achievement of such Forward-looking Statements and assumptions.