Delivery Hero (DHER) Company presentation summary

Global scale and business overview

• Operates in approximately 65 countries with over 1.5 million restaurants and vendors, and 800+ fulfillment centers.

• Processes more than 3.5 billion orders annually, generating €49bn GMV and €15bn revenue in FY 2025.

• Achieved €903m adjusted EBITDA and a gross profit margin of 8.3% in Q4 2025.

• Maintains #1 market position in over 50 countries, with 90% of GMV from these leading positions.

• Everyday App strategy drives higher customer spend and loyalty, integrating food, groceries, and retail.

Business model and operations

• Built on three pillars: Food delivery, Quick Commerce (Q-Commerce), and Shops (Dmarts).

• Quick Commerce segment includes 800+ Dmarts in 50 countries, offering 7,000 SKUs per location.

• Delivers from a vast network of third-party vendors and operates its own warehouses for integrated verticals.

• Proprietary technology enables rapid order picking and delivery, with most Dmart orders delivered in 20-30 minutes.

• AdTech revenue reached €1.5bn in FY 2025, with a 50% CAGR and ROAS of 6x.

Financial performance and outlook

• FY 2025 GMV reached €49.2bn, with total segment revenue of €14.8bn and adjusted EBITDA of €903m.

• Free cash flow was €250m in FY 2025, positive for the second consecutive year.

• FY 2026 guidance targets 8-10% GMV growth, 14-16% revenue growth, and €910-960m adjusted EBITDA.

• Long-term ambitions include >€200bn GMV and 5-8% adj. EBITDA/GMV margin by 2030.

• Maintains a strong cash position with €2.7bn pro forma cash and €2.25bn in convertible bonds.