Delivery Hero Se · XETR:DHER
Delivery Hero — FY2017 Earnings Presentation
25 slides from Delivery Hero's earnings presentation, Apr 26, 2018
Slide 1: Full Year 2017 Results
Full Year 2017 Results 26th April 2018 Delivery Hero AG. Full Year 2017 Results. 1
Slide 2: Our Clear Vision
Our Clear Vision AMAZING FOOD AMAZING ORDERING Create an amazing takeaway AMAZING experience SERVICE Delivery Hero AG. Full Year 2017 Results. 2
Slide 3: Agenda
Agenda 1 2017 Highlights - Niklas Östberg, CEO 2 Financial Update - Emmanuel Thomassin, CFO 3 Trading Update - Niklas Östberg, CEO 4 Q&A Delivery Hero AG. Full Year 2017 Results. 3
Slide 4: Financial Highlights FY 2017
Financial Highlights FY 2017 292m €3.8bn €544m 1 1 1,2 ORDERS GROSS MERCHANDISE REVENUES VALUE +48% Y-o-Y Growth +46% Y-o-Y Growth +60% Y-o-Y Growth 1. Like-for-like, please refer to the “Definitions” slide 2. Total segment revenues Delivery Hero AG. Full Year 2017 Results. 4
Slide 5: Continuous Track Record of Growth
Continuous Track Record of Growth Orders 1 GMV 1 Revenues 1,2 +61% Y-o-Y Growth Constant Currency Basis +46% Y-o-Y Growth +41% Y-o-Y Growth +51% Y-o-Y Growth 85 160 1,096 74 138 975 69 128 906 63 846 118 59 781 106 49 673 46 86 43 598 79 566 70 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q
Slide 6: 2017 Highlights
2017 Highlights • foodpanda integration • Expanded our emerging markets through acquiring leadership positions in Asia, Europe and MENA • Successful integration across 20 countries • IPO on Frankfurt Stock Exchange • Development into world-leading organization v • Expanded logistics capabilities • I
Slide 7: Amazing Food
Amazing Food • >150k active restaurants globally in 2017 • Continuous improvement and roll-out of our Restaurant Partner Solutions technology • 20 new POS integrations completed in 2017 • Partnering with the best QSR brands and major franchises v in 30 countries in 24 countries in 21 countries in 20
Slide 8: Amazing Ordering
Amazing Ordering • We increased order frequency in 2017 with continuous product and feature improvements by: • Simplifying ordering process • Improving discovery with delicious food images • vIncreasing personalized recommendations • Increasing payment options • 94% of orders placed by returning cus
Slide 9: Amazing Service
Amazing Service • Our riders delivered 28.7m orders in 2017 in more than 31 countries • We scaled our delivery services: % Orders Group Europe MENA Asia Americas Q1’17 9% 12% 2% 20% 5% Q4’17 v 12% 10% 6% 24% 9% • Achieving best-in-class Utilization Rates • >2 drops per rider per hour on average in E
Slide 10: M&A Highlights
M&A Highlights Acquisitions and Investments • Acquisition of Carriage (MENA) in 2017 • Acquisition of FoodFly (South Korea) in 2017 • Acquisition of Appetito24 (Panama) in 2017 • Acquisition of Deliveras (Greece) in 2018 • USD 105m investment in Rappi (South America) in 2018 v Strategic Divestments
Slide 11: Our 2017 Orders
Our 2017 Orders MAJORITY OF ORDERS FROM RETURNING CUSTOMERS Total Orders per Cohort per Year Orders From 2017 Cohort • Customer Experience driving our retention and frequency Increasing First-time Customer- base • Returning customers continue to order more frequently +31% Orders From 2016 Cohort • C
Slide 12: Agenda
Agenda 1 2017 Highlights - Niklas Östberg, CEO 2 Financial Update - Emmanuel Thomassin, CFO 3 Trading Update - Niklas Östberg, CEO 4 Q&A Delivery Hero AG. Full Year 2017 Results. 12
Slide 13: Group: Strong Development across All Metrics
Group: Strong Development across All Metrics Orders GMV Revenues 1 Adj. EBITDA +46% +65% • Order & GMV growth drivers Constant Currency Basis • Continued channel shift 3,824 • Returning customers +60% • Build out of new cities 544 • Take rate of 14.2% due to • Premium placements 2,618 were 9% of rev
Slide 14: Europe: Acceleration in Growth & Better Profitability
Europe: Acceleration in Growth & Better Profitability Orders GMV Revenues Adj. EBITDA +36% • Order & GMV growth drivers Constant Currency Basis • Germany acceleration, +29% particularly in H2’17 • Continuous city expansion 1,161 +36% in key markets 199 • Take rate of 17.1% 900 • Adj. EBITDA margin 1
Slide 15: MENA: Strong Performance across all Markets
MENA: Strong Performance across all Markets Orders GMV Revenues Adj. EBITDA +58% • Order & GMV growth drivers 1,370 • Channel shift +106% • City expansion Constant Currency Basis • Take rate of 11.2% due to • Own-delivery roll-out +87% 869 • Increased commission rates +63% 153 123 • Adj. EBITDA marg
Slide 16: Asia: Rapid Growth & Improvements in Key Markets
Asia: Rapid Growth & Improvements in Key Markets Orders GMV Revenues Adj. EBITDA • Order & GMV growth drivers • South Korea +67% • Take rate improvements driven Constant Currency Basis by a premium placement push in +50% South Korea 924 +66% • Adj. EBITDA margin enhancement from: 145 • Increase in o
Slide 17: Americas: Rapid Development in Early Stage Markets
Americas: Rapid Development in Early Stage Markets Orders GMV Revenues Adj. EBITDA • Order & GMV growth drivers • Continued early stage growth • City expansion • Take rate improvements driven by: • Own-delivery roll-out +99% • Premium placement increase Constant Currency Basis +59% • Adj. EBITDA mar
Slide 18: FX Impact in 2017
FX Impact in 2017 Revenue Overview FY 2017 +2.0 +0.7 562.8 +15.7 • FX impact of EUR 18.6m in 2017 • The Euro strengthened versus most currencies +0.1 • Most significant impact due to 544.2 USD, KRW, SAR, KWD, TRY Total Segment Europe CC MENA CC Asia CC Americas CC Total Segment Difference Difference
Slide 19: Agenda
Agenda 1 2017 Highlights - Niklas Östberg, CEO 2 Financial Update - Emmanuel Thomassin, CFO 3 Trading Update - Niklas Östberg, CEO 4 Q&A Delivery Hero AG. Full Year 2017 Results. 19
Slide 20: Q1 2018 Update
Q1 2018 Update • Strong order growth continued in January, February and March • Roll-out of own-delivery on track in MENA and Americas • Continued strengthening of the Euro in Q1’18 against most v currencies • On track to reach Adj. EBITDA breakeven on monthly basis at end of 2018 • Q1 2018 results
Slide 21: We Remain on Track to Meet our IPO Guidance
We Remain on Track to Meet our IPO Guidance Guidance at IPO Status Growth as No.1 Priority • >40% in short & mid-term ✓ FY order and revenue growth of 48% and 60% • >30% in the long-term v ✓ Developing ahead of planv with continued investing in Marketing, Product and Technology Invest for Leadership
Slide 22: Agenda
Agenda 1 2017 Highlights - Niklas Östberg, CEO 2 Financial Update - Emmanuel Thomassin, CFO 3 Trading Update - Niklas Östberg, CEO 4 Q&A Delivery Hero AG. Full Year 2017 Results. 22
Slide 23: Appendix
APPENDIX Delivery Hero AG. Full Year 2017 Results. 23
Slide 24: Financial Calendar 2018
Financial Calendar 2018 Date Event Feb 7, 2018 Full-Year 2017 Trading Update Apr 26, 2018 Annual Report 2017 May 9, 2018 Q1 Quarterly Statement 2018 Jun 6, 2018 Annual General Meeting Sep 13, 2018 Half-Year Report 2018 Nov 7, 2018 Q3/9M Quarterly Statement 2018 Delivery Hero AG. Full Year 2017 Resul
Slide 25: Definitions
Definitions • All numbers are excluding UK operations (discontinued operations). • “Like for like” presents Delivery Hero’s comparative 2016 results as if the acquisition of foodpanda had occurred on 1 January 2016 and excludes contributions from operations reported in discontinued operations. In ad