EQS-News

Delivery Hero concludes FY 2022 with further profitability improvement in Q4

EQS-News: Delivery Hero SE / Key word(s): Quarterly / Interim Statement Delivery Hero concludes FY 2022 with further profitability improvement in Q4 09.02.2023 / 07:32 CET/CEST The issuer is solely responsible for the content of this announcement. Delivery Hero recorded solid GMV growth in Q4, while concurrently progressing on its path towards profitability The Company improved its adjusted EBITDA/GMV margin by 3 percentage points YoY to -0.3% in Q4 2022, while reaching -1.4% adjusted EBITDA/GMV margin for the entire FY 2022 Delivery Hero has finished FY 2022 with an ample cash balance of EUR 2.4 billion Looking ahead, the Company confirms its adjusted EBITDA/GMV margin, as well as free cash flow guidance for FY 2023

Berlin, 9 February 2023 – Delivery Hero SE (“Delivery Hero”, the “Company” or “Group”), the world’s leading local delivery platform, today published its results for the last quarter of 2022, showing further advancement towards the Company’s profitability goals. The Q4 2022 results demonstrate an uplift in the adjusted EBITDA/GMV margin to -0.3% (-3.3% in Q4 2021) for the entire Group, including Glovo. Despite the lifting of Covid restrictions in Asia, the Company achieved a healthy growth: the GMV increased by 9% YoY to EUR 11.4 billion in the fourth quarter 2022, while the Total Segment Revenue reached a 21% YoY increase hitting EUR 2.5 billion.

 

Niklas Östberg, CEO and Co-Founder of Delivery Hero, said: “We have wrapped up another successful quarter. We were able to improve our market position in almost all key countries, while significantly improving our profitability. This was driven by cost focus, increased operational efficiencies, as well as our high margin AdTech business, which grew revenues to a run rate of EUR 750 million in the fourth quarter.”

 

Well on the way to profitability

Profitability was the backbone of Delivery Hero’s strategy in 2022, and the Company's consistent focus on this ambition clearly paid off. While Delivery Hero’s Platform business [1] including Glovo reached a positive adjusted EBITDA in Q4 2022, excluding Glovo it even generated a positive adjusted EBITDA for the entire FY 2022.