Delivery Hero (DHER) New Food Conference summary

Company overview and business model

• Operates in around 70 countries with over 42,000 employees, focusing on marketplace, on-delivery, and quick commerce pillars.

• Achieved $48.8 billion GMV and $12.8 billion revenue in 2024, with a shift from growth to profitability in recent years.

• Major acquisitions include PedidosYa, talabat, foodpanda, Woowa Brothers, and Glovo; talabat IPO was the largest tech IPO in MENA in 2024.

• Largest operations are in South Korea, with significant presence in MENA, Americas, and Europe.

Financial performance and profitability

• Achieved EBITDA break-even in 2022 and positive free cash flow of EUR 100 million in 2024.

• Gross profit margins range from 7%-10% across business pillars; MENA and Americas show strong profitability.

• Adjusted EBITDA improved by EUR 439 million to EUR 693 million in 2024.

• Net debt reduced by over 50% following talabat IPO; leverage ratio now at 2.7 net debt to adjusted EBITDA.

Regional insights and market dynamics

• South Korea is the largest market, with ongoing efforts to increase own delivery share and integrate marketplace and delivery services.

• MENA is highly profitable, with talabat as a key brand; Meituan's entry in Saudi Arabia has had limited impact.

• Americas is a smaller but fast-growing region, with strong market positions and potential for AdTech revenue growth.

• Europe experienced a dip in profitability due to transition to an employment-based rider model in Spain.