EQS-News

Delivery Hero concludes FY 2022 with further profitability improvement in Q4 - Seite 2

Building upon the positive development in the Platform business, Delivery Hero’s Integrated Verticals segment [2] delivered a strong quarter and outperformed guidance for the full year, leading to an adjusted EBITDA of EUR -345 million (excluding Glovo) for the entire FY 2022 against the forecasted EUR -380 million to EUR -400 million.

At Group level (including Glovo), the solid performance in both the Company’s Platform business and the Integrated Verticals segment resulted in a FY 2022 adjusted EBITDA/GMV margin of -1.4%, coming in at the upper end of the previously given guidance range of -1.4% to -1.5%. Furthermore, the Company ended FY 2022 with an abundant cash balance of EUR 2.4 billion.

Partly driven by foreign currency effects as well as the Company’s intensified focus on profitability, Delivery Hero’s FY 2022 GMV was just below the guidance of EUR 44.7 billion to EUR 46.9 billion, coming in at EUR 44.6 billion. The Total Segment Revenue for FY 2022 was slightly below the guidance of EUR 9.8 billion to EUR 10.4 billion, coming in at EUR 9.6 billion.

 

Emmanuel Thomassin, CFO of Delivery Hero, said: “Last year, the entire industry was faced with several challenges and we worked hard to come out of it as winners. We now look forward to continuing on this path in 2023, and we are glad to confirm our guidance of a positive adjusted EBITDA/GMV margin – including Glovo – of over 0.5% for the entire FY 2023 and over 1% for H2 2023. We also remain committed to reaching free cash flow break-even during the second half of 2023[3]."

 

Delivery Hero – Key Performance Indicators Q4 & FY 2022
(All values include Glovo, as well as Woowa and exclude Delivery Hero Korea on a pro forma basis)

	Q4 2021	Q4 2022	FY 2021	FY 2022
	EUR million	EUR million	EUR million	EUR million
GMV Group	10,433.5	11,353.7	37.974,8	44,614.5
%YoY Growth (RC)	-	8.8%	-	17.5%
%YoY Growth (CC)	-	7.9%	-	-
Asia	6,529.2	6,667.3	23,907.0	26,910.4
MENA	1,837.5	2,334.2	6,755.9	8,542.3
Europe	1,506.8	1,772.8	5,354.0	6,570.4
Americas	559.9	579.4	1,957.8	2,591.4
Integrated Verticals	359.3	520.9	1,134.6	1,899.9
Total Segment Revenues Group	2,100.1	2,534.5	7,262.5	9,589.7
%YoY Growth (RC)	-	20.7%	-	32.0%
%YoY Growth (CC)	-	17.6%	-	-
Asia	876.6	967.7	3,070.7	3,803.6
MENA	459.6	618.3	1,562.9	2,218.4
Europe	322.2	356.3	1,192.6	1,319.1
Americas	150.7	152.3	509.6	681.6
Integrated Verticals	333.7	490.6	1,061.9	1,766.8
Intersegment consolidation 1	(42.8)	(50.7)	(135.2)	(199.8)

 

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