Business & Finance - August 12, 2021

Delivery Hero raises full-year GMV outlook to EUR 33-35 billion following strong performance in Q2 2021

  • Delivery Hero reports continued significant growth in Q2 2021 with a record 730 million orders (+79% YoY), Gross Merchandise Value (GMV) increasing to EUR 8.4 billion (+74% YoY) and total segment revenue reaching EUR 1.5 billion (+105% YoY)
  • Delivery Hero further expands its quick commerce operations with revenue in the Integrated Verticals segment being up 237% YoY to EUR 236 million, and 84 new Dmarts opening in Q2 2021, leading to a total of 687 globally
  • On the back of the promising results, Delivery Hero increases GMV guidance to EUR 33 to 35 billion and total segment revenue guidance to EUR 6.4 to 6.7 billion, with the adjusted EBITDA/GMV margin now expected to be at around -2% in the financial year 2021

Berlin, 12 August 2021 – Delivery Hero SE (“Delivery Hero” or “the group”/”the company”), the world’s leading local delivery platform, showed strong growth trajectory in the second quarter of 2021(1). Throughout the quarter, the group processed 730 million orders, corresponding to a YoY increase of 79%. Delivery Hero’s GMV grew 74% YoY to EUR 8.4 billion, while total segment revenue increased 105% YoY to EUR 1.5 billion, making Q2 2021 the tenth consecutive quarter with a revenue growth of around 100% YoY. With the successful start of Woowa’s own delivery offering in South Korea, own delivery accounted for 50% of the group’s orders.

The second quarter was once again marked by outstanding growth, and we only saw marginal impact from the gradual ease of COVID-19 restrictions. Delivery Hero continues to focus on strengthening its global presence, and we are particularly excited to be back in Germany. We are also proud to lead the industry forward in terms of sustainability with our Sustainable Packaging Program. In the years to come, we will keep making a positive impact in our communities and environment.

Niklas Östberg, CEO and Co-Founder of Delivery Hero

Delivery Hero raises the full-year forecast of GMV from EUR 31-34 billion to EUR 33-35 billion, and total segment revenue from EUR 6.1-6.6 billion to EUR 6.4-6.7 billion. The adjusted EBITDA/GMV margin outlook for 2021 is updated to around -2% from the previous -1.5% to -2.0%.

Delivery Hero’s economic results remain very strong and we are raising our full-year growth guidance in light of the encouraging path we are on. We continue to see solid performance across all business segments, with increasingly exciting developments in quick commerce. Thanks to our evolving technologies and local market expertise, the Integrated Verticals segment is rapidly expanding and now contributing 15% to our total segment revenue.

Emmanuel Thomassin, CFO of Delivery Hero

Optimizing the global footprint

Delivery Hero strives to further strengthen its business position in key markets, and optimize the geographical footprint with a focus on high potential countries, including the return to Germany. Under its brand foodpanda, operating in more than ten countries across Europe and Asia, the company seeks to leverage the potential that the German market has to offer. After a successful trial period, foodpanda is now delivering restaurant food as well as groceries and convenience items to Berlin customers. Other German cities will shortly follow, with Frankfurt, Hamburg and Munich starting operations in the fall.

Further strengthening its global presence, Delivery Hero entered into an agreement with Glovo in Q2 2021, with Glovo acquiring Delivery Hero’s businesses in Bosnia Herzegovina, Bulgaria, Montenegro, Romania, Serbia, and certain assets of Delivery Hero’s Croatian operations, for a transaction value of approximately EUR 170 million.

Investing in quick commerce

Quick commerce remains a key growth area for the business, both through partnering with local vendors and by acting as a principal of our Dmarts and Delivery Hero kitchens. In the Integrated Verticals segment (referring to the principal function), revenue grew by 237% YoY to EUR 236 million in Q2 2021. Q-commerce, the next and faster generation of e-commerce, delivers groceries and household items directly to the customer’s door in less than an hour – often as little as 10-15 minutes. Delivery Hero has further expanded its global network of partnerships and Dmarts (small warehouses in strategic locations for delivery). In the second quarter of the year, the company opened 84 new Dmarts globally, leading to a total of 687 at the end of June.

Driving sustainability in the delivery industry

Delivery Hero has launched a Sustainable Packaging Program to reduce plastic waste and carbon emissions. The program provides 100% plant-based and perfluoroalkoxy-alkanes (PFAS) free packaging solutions to local restaurants at a competitive cost. The sales of sustainable packaging is being piloted in Austria, Chile, Germany, Hong Kong, Hungary, Qatar, Singapore, and the United Arab Emirates via Delivery Hero’s local brands, and will be expanded to more regions in the near future. Setting an example for the rest of the industry, the program is a part of a broader strategy towards a greener delivery ecosystem.

Delivery Hero – Key Performance Indicators Q2 2021

(All values include Woowa and exclude Delivery Hero Korea on a pro forma basis)

Q2 2020Q2 2021
Orders (Unit million) Group408.1730.3
%YoY Growth88.0%78.9%
%OD Orders45.9%49.9%
Integrated Verticals6.121.5
GMV Group 1,24,815.38,388.8
%YoY Growth (RC) 366.7%74.2%
%YoY Growth (CC) 469.6%80.8%
MENA 1,2822.11,617.3
Americas 1,2249.4464.3
Integrated Verticals72.3256.2
Total Segment Revenues Group 1,2757.51,549.9
%YoY Growth (RC) 3102.7%104.6%
%YoY Growth (CC) 4105.0%115.1%
MENA 1,2165.9359.3
Americas 1,257.2119.9
Integrated Verticals70.1236.4
Intersegment consolidation 5(2.7)(35.2)

1. Americas and MENA revenues, adjusted EBITDA, Gross Merchandise Value (GMV) as well as the respective growth rates are impacted by the Argentinian and Lebanese operations qualifying as hyperinflationary economies according to IAS 29 beginning 1 September 2018 and October 2020 respectively.
2. Includes Reported Currency growth rates for Argentina and Lebanon in the Constant Currency calculations due to the effects of hyperinflation in the respective countries.
3. Reported Currency Growth.
4. Constant Currency Growth.
5. Difference between total segment revenue and the sum of segment revenues is mainly due to intersegment consolidation for services charged by the Platform Businesses to the Integrated Verticals Businesses.

Delivery Hero is the world’s leading local delivery platform, operating its service in around 50 countries across Asia, Europe, Latin America, the Middle East and North 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 10 to 15 minutes. Headquartered in Berlin, Germany, Delivery Hero is listed on the Frankfurt stock exchange since 2017, and became part of the leading index DAX (Deutscher Aktienindex) in 2020. For more information, please visit

Sigrid Dalberg-Krajewski
Senior Director, Communications
+49 170 56 35 160

Daniel Fard-Yazdani
VP, Head of Investor Relations
+49 175 55 26 027

(1) To provide a better picture of the group profile, financials for the current business year include Woowa on a pro forma basis from 1 January 2021, and exclude Delivery Hero Korea from the same date onwards, which, for comparison, also applies to historic data.


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.

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