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EQS-News: Delivery Hero SE
/ Key word(s): Quarter Results/Preliminary Results
Q4 and FY 2023
Outlook
Berlin, 14 February 2024 – Delivery Hero SE (“Delivery Hero”, the “Company” or the “Group”), the world’s leading local delivery platform, today released its Q4 2023 results, reaffirming that it had hit all of its ambitious targets for Q4 and FY 2023. The Company saw a GMV growth of 7% YoY2 and Total Segment Revenue growth of 16% YoY in Q42, as well as reporting an adj. EBITDA margin of 1.1% in H2 20231. This implies an adj. EBITDA uplift of more than EUR 870 million in FY 20231. The Group also confirmed that it had reached Free Cash Flow Break-even during H2 20231. Niklas Östberg, CEO and Co-Founder of Delivery Hero, said: “2023 was a landmark year for Delivery Hero as we saw our commitment to a rational growth strategy pay off. We have proven that we can significantly improve profits and cash flows while building on our category leadership. Thanks to the team for all of the great progress we have made towards our goals.” Delivery Hero – Guidance FY 2024
Delivery Hero – Key Performance Indicators Q4 & FY 20234
Note: All numbers presented in this release are unaudited and based on preliminary information. These figures may be adjusted based on the ongoing audit procedures to the 2023 combined management report and IFRS consolidated financial statements. The full financial results for FY 2023 will be published in the 2023 Annual Report. Given the extraordinary devaluation of the Argentine Peso by more than 50% in December 2023 and the application of hyperinflationary accounting standards according to IAS 29, the Group was facing an hyperinflation impact of around EUR 550 million on GMV and of around EUR 180 million of Segment Revenue in Argentina in Q4 2023. Thus, including hyperinflation Group GMV grew by 5.5% YoY in FY 2023 and Total Segment Revenue grew by 13.8% YoY in constant currency in FY 2023. 1 Adj. EBITDA and Free Cash Flow in reported currency and including hyperinflationary accounting. Free Cash Flow is calculated as cash flow from operations (changes in working capital exclude receivables from payment service providers and restaurant liabilities) less capital expenditures (CapEx) and payment of lease liabilities. Free Cash Flow excludes interest income and expense. 3 Gross Profit after deduction of delivery costs, store related expenses, supply chain costs, promotions and vouchers and excluding hyperinflationary accounting. 4 For Group, Europe, MENA, Americas and Integrated Verticals, revenues and Gross Merchandise Value (GMV) as well as the respective growth rates are impacted by the operations in Argentina, Ghana, Lebanon and/or Turkey qualifying as hyperinflationary economies according to IAS 29. RC = Reported Currency / CC = Constant Currency. 5 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.
ABOUT DELIVERY HERO Delivery Hero is the world’s leading local delivery platform, operating its service in over 70 countries across Asia, Europe, Latin America, the Middle East and 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 20 to 30 minutes. Headquartered in Berlin, Germany, Delivery Hero has been listed on the Frankfurt Stock Exchange since 2017 and is part of the MDAX stock market index. For more information, please visit MEDIA CONTACT Isobel Hambleton Corporate Communications 25 INVESTOR RELATIONS CONTACT Christoph Bast Head of Investor Relations DISCLAIMER 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.
14.02.2024 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG. |
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| 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: | |
| Internet: | |
| 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: | 1836681 |
| End of News | EQS News Service |
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1836681 14.02.2024 CET/CEST
