Delivery Hero Se · XETR:DHER
Delivery Hero — Q1 2019 Earnings Presentation
25 slides from Delivery Hero's earnings presentation, Apr 25, 2019
Slide 1: Q1 2019 Trading Update
Q1 2019 Trading Update 25th April, 2019 Delivery Hero SE Q1 2019 Trading Update 1
Slide 2: Our Clear Vision
Our Clear Vision AMAZING FOOD AMAZING ORDERING Always delivering amazing AMAZING SERVICE experiences Delivery Hero SE Q1 2019 Trading Update 22
Slide 3: Agenda
Agenda 1 Business Update 2 Financial Update 3 Outlook 4 Q&A Delivery Hero SE Q1 2019 Trading Update 3
Slide 4: Q1 2019 Financial Highlights
Q1 2019 Financial Highlights 125m €1.5bn GROSS MERCHANDISE €267m ORDERS REVENUES VALUE +55% +57% +93% Y-o-Y Growth Y-o-Y Growth Y-o-Y Growth YoY growth rates on a constant currency basis – Numbers exclude Germany – Q1 2019 figures include Zomato UAE performance since the 1 March 2019 Delivery Hero S
Slide 5: Continuous Track Record of Growth
Continuous Track Record of Growth Orders GMV Revenues +55% +57% +93% 125 1,508 267 108 1,323 219 95 1,120 86 1,041 176 80 971 74 155 908 138 63 802 126 58 740 53 106 681 97 88 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 2017 2018 2019 2017 2018 2019 2017 2018 201
Slide 6: Delivering On Our Promise
Delivering On Our Promise Guidance at IPO Status1 Growth as No.1 Priority • >40% in short & mid-term Q1 2019 order and revenue growth of 55% and 93%2 • >30% in the long-term Remain in early stages of growth path with online penetration still low (c. 10%) 3 Invest for Leadership #1 leadership positio
Slide 7: Q1 2019 Business Update
Q1 2019 Business Update Successfully Increased Investments across the Group • Continued expansion of our early stage markets • Two thirds of our additional investments focused on new customer acquisition • Increased order frequency across our platform • Slightly higher returns on investments than ex
Slide 8: Investments In New Customers That Continue To Return To Our Platform For Many Years
Investments In New Customers That Continue To Return To Our Platform For Many Years MAJORITY OF ORDERS FROM RETURNING CUSTOMERS Total Orders per Cohort1 per Year • Continue to have very stable and increasing cohort ordering behaviour in 2018 Orders • Once acquired customers require little to no From
Slide 9: Agenda
Agenda 1 Business Update 2 Financial Update 3 Outlook 4 Q&A Delivery Hero SE Q1 2019 Trading Update 9
Slide 10: Q1 2019 Group Performance
Q1 2019 Group Performance • Germany is considered as a discontinued operation and is excluded Orders GMV Revenues from the figures • Own delivery orders 25% of total orders driven by greater customer demand and +57% affordability +55% +93% • Total Group Take Rate is at 17.7% 1,508 driven by the incr
Slide 11: Q1 2019 MENA Performance
Q1 2019 MENA Performance • Figures include Zomato UAE from 1st March 2019 Orders GMV Revenues • Continue to invest across the segment and increase our multi-vertical capabilities +70% • Own delivery orders 26% of total +69% +147% orders for MENA 745 +154% • Improved delivery efficiency across the ME
Slide 12: Q1 2019 Europe Performance
Q1 2019 Europe Performance • Germany is considered as a discontinued operation and is therefore Orders GMV Revenues excluded from the figures • Own delivery orders 10% of total orders for Europe • Take rate increased to 15.9% following +37% the increase in own delivery orders +35% +35% +34% 37 232 2
Slide 13: Q1 2019 Asia Performance
Q1 2019 Asia Performance • Impressive acceleration in order growth of 73% YoY Orders GMV Revenues • Successful expansion to new cities and neighborhoods across the Asia segment • Own delivery orders 29% of total orders for Asia driven by customer demand for own delivery and affordability • Take rate
Slide 14: Q1 2019 Americas Performance
Q1 2019 Americas Performance • Significant acceleration in order growth of 44% YoY ex Brazil Orders GMV Revenues • Successful start to investments in 2019 with expansion to new cities and neighborhoods across the Americas segment • Revenues and GMV are impacted by the accounting treatment IAS 29 for
Slide 15: Agenda
Agenda 1 Business Update 2 Financial Update 3 Outlook 4 Q&A Delivery Hero SE Q1 2019 Trading Update 15
Slide 16: FY 2019 Revenue Guidance
FY 2019 Revenue Guidance +€16m c. €1.2bn c. €1.15bn +€18m +€1m c. €1.08bn c. €1.1bn Previous Zomato UAE FX Impact Core Business New Guidance1 Impact 2 Overperformance Guidance 1 1. As per previous guidance, FY 2019 excludes Germany and other countries with divestments in foodora non-core assets (Aus
Slide 17: Outlook 2019
Outlook 2019 2019E Guidance1: Revenues €1.1bn to €1.2bn Increased our revenue guidance Adj. EBITDA -€270m to -€320m Guidance unchanged • MENA expected full year Adj. EBITDA of €70m after increased investments2 • Europe expected to reach breakeven during H2 2019 1. FY2019 excludes Germany and other c
Slide 18: Agenda
Agenda 1 Business Update 2 Financial Update Q1 2019 3 Outlook 4 Q&A Delivery Hero SE Q1 2019 Trading Update 18
Slide 19: Appendix
APPENDIX Delivery Hero SE Q1 2019 Trading Update 19
Slide 20: Adjustments
Adjustments • Definitions • The reported figures have been retrospectively adjusted for the divestments of India, divestment of foodora (Australia, France, Italy & Netherlands) and Germany • Figures have not been adjusted for other acquisitions or divestments • The group order growth rate would have
Slide 21: 2019 Financial Calendar
2019 Financial Calendar Event Release Date 2019 Annual General Meeting 12-Jun-2019 Half-year 2019 Report 04-Sep-2019 Q3/9M 2019 Trading Update 07-Nov-2019 Delivery Hero SE Q1 2019 Trading Update 21
Slide 22: Delivery Hero KPIs (1/2)
Delivery Hero KPIs (1/2) 2017 2018 2019 in €m Q1 Q2 H1 Q3 Q4 FY Q1 Q2 H1 Q3 Q4 FY Q1 Delivery Hero Group (ex. Germany) Orders 52.9 58.2 111.1 63.4 73.8 248.3 80.2 86.4 166.6 94.5 108.3 369.4 124.5 % YoY Growth 51.8% 48.3% 50.0% 49.0% 46.7% 48.8% 55.2% GMV 1,2 681.4 739.8 1,421.2 801.7 907.9 3,130.8
Slide 23: Delivery Hero KPIs (2/2)
Delivery Hero KPIs (2/2) 2017 2018 2019 in €m Q1 Q2 H1 Q3 Q4 FY Q1 Q2 H1 Q3 Q4 FY Q1 Asia Orders 11.4 12.8 24.2 14.5 16.5 55.1 17.6 18.7 36.3 21.9 24.4 82.6 30.4 % YoY Growth 53.8% 46.9% 50.2% 50.6% 48.6% 49.8% 73.0% GMV 185.0 200.4 385.4 211.0 247.6 844.0 261.7 280.0 541.7 317.4 354.5 1,213.7 416.3
Slide 24: Definitions
Definitions • Gross Merchandise Value (GMV) is the total value of orders (including VAT) transmitted to restaurants • Revenues presented for Delivery Hero represent the total segment revenues prior to discounts • Constant currency provides an indication of the business performance by removing the im
Slide 25: Important Notice
Important Notice • ALL FINANCIAL FIGURES INCLUDED IN THE FOLLOWING PRESENTATION ARE BASED ON IFRS, UNLESS NOTED OTHERWISE. • For the purposes of this notice, “presentation” means this document, its contents or any part of it. This presentation does not, and is not intended to, constitute or form par