Delivery Hero Se · XETR:DHER
Delivery Hero — Q2 2019 Earnings Presentation
26 slides from Delivery Hero's earnings presentation, Jul 30, 2019
Slide 1: Q2 2019 Trading Update
Q2 2019 Trading Update 30th July, 2019 Delivery Hero SE Q2 2019 Trading Update 1
Slide 2: Our Clear Vision
Our Clear Vision AMAZING FOOD AMAZING ORDERING Always delivering an amazing AMAZING SERVICE experience Delivery Hero SE Q2 2019 Trading Update 22
Slide 3: Agenda
Agenda 1 Business Update 2 Financial Update 3 Outlook 4 Q&A Delivery Hero SE Q2 2019 Trading Update 3
Slide 4: Q2 2019 Financial Highlights
Q2 2019 Financial Highlights 144m €1.7bn GROSS MERCHANDISE €315m ORDERS REVENUES VALUE +67% +64% +103% YoY Growth YoY Growth YoY Growth All values in Unit million / € million YoY growth rates on a constant currency basis The group order growth would have been 63% YoY if adjusted for all acquisition
Slide 5: Continuous Track Record of Growth
Continuous Track Record of Growth Orders GMV Revenues +67% +64% +103% 144 1,684 315 1,508 125 267 108 , 1,323 219 95 1,120 86 1,041 80 176 971 74 908 155 138 63 802 126 58 740 53 681 106 97 88 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 2017 2018 2019 20
Slide 6: Delivering on Our Promise
Delivering on Our Promise Guidance at IPO Status Growth as No.1 Priority Q2 2019 order and revenue growth of 67% and 103% with continued high • >40% in short & mid-term level of growth throughout 20191 • >30% in the long-term Increased guidance leading to near 100% YoY revenue growth for FY 2019 Inv
Slide 7: Q2 2019 Business Update
Q2 2019 Business Update Expanded City Coverage to Untap Additional Customers • Increase of restaurant sales coverage with specific push in Asia and Americas • Accelerated city and area expansion with additional 50 cities in Q2 2019 Increased Quantity, Quality & Choice via Expanded Restaurant Coverag
Slide 8: Significant Acceleration of New Customer Acquisition at Flat Costs in Asia & Americas
Significant Acceleration of New Customer Acquisition at Flat Costs in Asia & Americas ASIA & AMERICAS - NEW CUSTOMERS1 Significant Increase in Customer Acquisitions With 166% YoY Growth Q2'18 Q3'18 Q4'18 Q1'19 Q2'19 ASIA & AMERICAS1 - COST PER ACQUISITION (CPA)2 Increased Marketing Spend With Close
Slide 9: Improved Utilization On Back of Scaled Own-Delivery
Improved Utilization On Back of Scaled Own-Delivery Number of Own-Delivery Orders – Group1 Own delivery orders +318% YoY Own-Delivery now at 30% of orders for the group Rollout driven by expansion to new cities & areas (Added 50+ cities and 200+ delivery areas in Q2 2019) Q2’18 Q2’19 Utilization Rat
Slide 10: Agenda
Agenda 1 Business Update 2 Financial Update 3 Outlook 4 Q&A Delivery Hero SE Q2 2019 Trading Update 10
Slide 11: Q2 2019 Group Performance
Q2 2019 Group Performance • 103% Revenue growth YoY driven by strong performance across all segments Orders GMV Revenues • Own-delivery orders now at 30% of total orders driven by greater customer demand and city expansion +64% +103% • Total group take rate excluding own- +62% delivery orders at 12.
Slide 12: Q2 2019 MENA Performance
Q2 2019 MENA Performance • Continue high level of order and revenue growth with 60% YoY and 141% YoY respectively1 Orders GMV Revenues • Own-delivery orders now at 28% of total orders driving revenue growth +70% +141% • The MENA segment is expected to +70% generate full year adjusted EBITDA of +146%
Slide 13: Q2 2019 Europe Performance
Q2 2019 Europe Performance • Acceleration in order growth to 42% YoY given change in market mix Orders GMV Revenues • Own-delivery orders now at 13% of total orders for Europe • Europe expected to reach breakeven during H2 20191 +45% +52% +44% +51% 249 41 173 27 +42% 21 15 Q2’18 Q2’19 Q2’18 Q2’19 Q2
Slide 14: Q2 2019 Asia Performance
Q2 2019 Asia Performance • Substantial increase in growth of 115% YoY in orders with further upside to Orders GMV Revenues accelerate driven by city expansion, increased restaurant coverage and improved customer experience through delivery • Own-delivery orders now at 39% of +73% total orders +71% +
Slide 15: Q2 2019 Americas Performance
Q2 2019 Americas Performance • Significant acceleration in order growth of 50% YoY ex Brazil with further upside to accelerate Orders GMV Revenues • Own-delivery orders now at 38% of total orders • Due to the successful adoption of affordability campaigns the average order value has decreased to €11
Slide 16: Agenda
Agenda 1 Business Update 2 Financial Update 3 Outlook 4 Q&A Delivery Hero SE Q2 2019 Trading Update 16
Slide 17: FY 2019 Revenue Guidance
FY 2019 Revenue Guidance c. €1.4bn +€194m2 +€20m1 -€14m c. €1.2bn c. €1.3bn c. €1.1bn Previous Outperformance of Core Incremental Returns FX Impact on FY New Guidance Business & Previous From Additional €100m Revenues 1 Guidance 2 Investments Investments 1. Incremental profits from revenue uplift wi
Slide 18: Outlook 2019
Outlook 2019 2019E Guidance: Revenues €1.3bn to €1.4bn Raised Revenue Guidance by €200m in June 2019 Adjusted EBITDA -€370m to -€420m Includes €100m investments announced in June 2019 • MENA expected to generate full year adjusted EBITDA of €70m1 despite one off impacts in H1 2019 • Europe expected
Slide 19: Agenda
Agenda 1 Business Update 2 Financial Update Q1 2019 3 Outlook 4 Q&A Delivery Hero SE Q2 2019 Trading Update 19
Slide 20: Appendix
APPENDIX Delivery Hero SE Q2 2019 Trading Update 20
Slide 21: Adjustments
Adjustments • Definitions • The reported like for like figures have been retrospectively adjusted for divestments of foodora non core assets i.e. Australia, France, Italy & Netherlands and Germany • Figures have not been adjusted for other acquisitions or divestments that can be found in the table b
Slide 22: 2019 Financial Calendar
2019 Financial Calendar Event Release Date Half-year 2019 Report 04-Sep-2019 Q3/9M 2019 Trading Update 07-Nov-2019 Delivery Hero SE Q2 2019 Trading Update 22
Slide 23: Delivery Hero KPIs (1/2)
Delivery Hero KPIs (1/2) 2018 2019 in €m Q1 Q2 H1 Q3 Q4 FY Q1 Q2 H1 Delivery Hero Group Orders 80.2 86.4 166.6 94.5 108.3 369.4 124.5 144.2 268.8 % YoY Growth 51.8% 48.3% 50.0% 49.0% 46.7% 48.8% 55.2% 67.0% 61.4% % OD Orders 10.2% 11.9% 11.1% 16.4% 19.5% 14.9% 25.0% 29.9% 27.6% GMV 1,2 970.7 1,041.1
Slide 24: Delivery Hero KPIs (2/2)
Delivery Hero KPIs (2/2) 2018 2019 in €m Q1 Q2 H1 Q3 Q4 FY Q1 Q2 H1 Asia Orders 17.6 18.7 36.3 21.9 24.4 82.6 30.4 40.2 70.6 % YoY Growth 53.8% 46.9% 50.2% 50.6% 48.6% 49.8% 73.0% 114.8% 94.6% % OD Orders 19.4% 21.8% 20.6% 25.7% 27.5% 24.0% 29.3% 38.8% 34.7% GMV 261.7 280.0 541.7 317.4 354.5 1,213.7
Slide 25: 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. Discounts are expected to amount to EUR 71 million in H1 2019 • Constant currency provid
Slide 26: Important Notice
Important Notice • ALL FINANCIAL FIGURES INCLUDED IN THE 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 part of, and