Delivery Hero SE / DE000A2E4K43
05.02.2024 - 07:32:38Delivery Hero announces preliminary results for Q4 2023, delivering on its FY 2023 targets and issuing guidance for FY 2024
| Delivery Hero SE / Key word(s): Preliminary Results/Forecast 05.02.2024 / 07:32 CET/CEST The issuer is solely responsible for the content of this announcement. Delivery Hero announces preliminary1 results for Q4 2023, delivering on its FY 2023 targets and issuing guidance for FY 2024 Successful execution of Delivery Hero’s growth strategy with a strong focus on profitability, cash generation and disciplined capital allocation Fully delivered on its FY 2023 guidance. Adj. EBITDA exceeded EUR 250 million2 Achieved Free Cash Flow break-even during H2 2023. Cash and cash equivalents amounting to EUR 1.7 billion at the end of FY 20232 For FY 2024, Delivery Hero expects GMV growth of 7-9% YoY3, Total Segment Revenue growth of 15-17% YoY3, an adj. EBITDA of EUR 725-775 million and a positive Free Cash Flow2 Berlin, 5 February 2024 – Delivery Hero SE (“Delivery Hero”, the “Company” or the “Group”), the world’s leading local delivery platform, today publishes preliminary results for Q4 2023 and FY 2023, confirming that it has delivered on all guidance parameters for FY 2023. Niklas Östberg, CEO and Co-Founder of Delivery Hero, said: “We had a very strong ending to 2023. We have delivered on the commitments in our full year guidance, reaching key milestones and surpassing the Free Cash Flow break-even point. We remain fully committed to executing our strategic roadmap focused on profitable growth, cash generation and disciplined capital allocation in 2024 and beyond." Group GMV growth in-line with FY 2023 guidance and driven by healthy order growth Group GMV grew by 6.7% YoY to EUR 12.3 billion in Q4 2023 and by 6.8% to EUR 47.6 billion in FY 2023, meeting the 5-7% GMV guidance range for FY 20233. Total Segment Revenue increased by 15.7% YoY to EUR 3.0 billion in Q4 2023 and by 15.7% to EUR 11.1 billion in FY 2023, fully in-line with the guidance of “around 15% YoY”3. The strong result was driven by healthy order growth in many of our geographies. Adjusted EBITDA met expectations and gained momentum in second half of the year Adj. EBITDA exceeded EUR 250 million in FY 2023, implying an adj. EBITDA uplift of more than EUR 870 million compared to FY 2022. This amounts to an adj. EBITDA/GMV margin of 1.1% in H2 2023 and 0.6% in FY 2023 (including the negative impact from hyperinflationary accounting), both in-line with our guidance. Free Cash Flow break-even achieved and material improvement compared to prior year In addition, Delivery Hero reached Free Cash Flow break-even during H2 2023 and improved the Free Cash Flow development in H2 2023 by more than EUR 330 million YoY. In H2 2023, Delivery Hero generated Free Cash Flow of between EUR -0.1 billion and EUR 0.0 billion and cash flow from other activities (including M&A related payments and interest) of EUR -0.2 billion. At the end of FY 2023, cash and cash equivalents amounted to EUR 1.7 billion. Guidance for FY 2024 For FY 2024, Delivery Hero anticipates Group GMV growth of 7-9% YoY3, Total Segment Revenue growth of 15-17% YoY3 and an adj. EBITDA of EUR 725-775 million2. Furthermore, Delivery Hero expects to generate a positive Free Cash Flow for FY 20242. This guidance is based on Delivery Hero’s current Group structure. All numbers presented in this release are unaudited and based on preliminary information. Delivery Hero will publish its additional preliminary numbers for Q4 2023 in its Trading Update in combination with a conference call as previously scheduled on February 14, 2024. Delivery Hero – Guidance FY 2024
3 GMV growth and Total Segment Revenue growth in constant currency 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 www.deliveryhero.com MEDIA CONTACT Isobel Hambleton Corporate Communications +49 1515 701 7625 press@deliveryhero.com INVESTOR RELATIONS CONTACT Christoph Bast Head of Investor Relations +49 160 30 13 435 ir@deliveryhero.com 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. 05.02.2024 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement. The EQS Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.eqs-news.com |
| 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: | 1829725 |
| End of News | EQS News Service |
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