Delivery Hero SE · XETR:DHER
Delivery Hero — H1 2018 Earnings Presentation
23 slides from Delivery Hero's earnings presentation, Aug 2, 2018
Slide 1: H1 2018 Trading Update
H1 2018 Trading Update August 2nd, 2018 Delivery Hero SE. H1 2018 Trading Update. 1
Slide 2: Our Clear Vision
Our Clear Vision AMAZING FOOD AMAZING ORDERING Create an amazing takeaway AMAZING experience SERVICE Delivery Hero SE. H1 2018 Trading Update. 2
Slide 3: Agenda
Agenda 1 Business Update - Niklas Östberg, CEO 2 Financial Update - Emmanuel Thomassin, CFO 3 Outlook - Niklas Östberg, CEO 4 Q&A Delivery Hero SE. H1 2018 Trading Update. 3
Slide 4: H1 2018 Financial Highlights
H1 2018 Financial Highlights 184m €2.4bn GROSS MERCHANDISE €357m ORDERS REVENUES VALUE +46% Y-o-Y Growth 1 +50% Y-o-Y Growth 1 +60% Y-o-Y Growth 1 1. Like-for-like, please refer to the “Definitions” slide and on a constant currency basis. Delivery Hero SE. H1 2018 Trading Update. 4
Slide 5: Continuous Track Record of Quarterly Growth
Continuous Track Record of Quarterly Growth Orders GMV Revenues 1 1 +44% +48% +60% 1,209 186 95 1,150 171 89 1,083 82 157 960 71 135 892 126 66 832 116 60 765 103 56 659 84 47 44 585 77 41 560 69 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 2016 2017 2018
Slide 6: H1 2018 Business Update
H1 2018 Business Update Improved service levels for our customers • Continued expansion of our logistics services particularly in MENA and Americas • Investments in delivery affordability (lower delivery fees and lower minimum basket size) • Improved service levels have driven additional demand expa
Slide 7: M&A Update
M&A Update On track with M&A strategy • Continued consolidation of markets to focus efforts and resources on strengthening leadership positions Acquisitions & investments • Acquisition of hipMenu in Romania with leadership positions in a number of cities and a strong management team • Acquisition of
Slide 8: Additional Investment Opportunities
Additional Investment Opportunities Rationale • Up to €80m in the second half of 2018, with opportunities expected to continue into 2019 with similar investment levels • Investments are opportunistic to take advantage of the positive business performance and a larger online delivery market opportuni
Slide 9: Agenda
Agenda 1 Business Update - Niklas Östberg, CEO 2 Financial Update - Emmanuel Thomassin, CFO 3 Outlook - Niklas Östberg, CEO 4 Q&A Delivery Hero SE. H1 2018 Trading Update. 9
Slide 10: Group: Strong Performance across All Metrics
Group: Strong Performance across All Metrics Orders GMV Revenues Comments 1 +50% • Order & GMV growth drivers +37% +60% 1 • Expansion of marketing opportunity 2,359 • Continued roll out of +48% own delivery in MENA & Americas 357 1,723 • Increased restaurant coverage • Record semi-annual take rate +
Slide 11: Europe: Solid Growth
Europe: Solid Growth Orders GMV Revenues Comments 1 1 +22% +25% • Order & GMV growth drivers • Increased city +22% expansion +24% • Continued positive 116 trend in Germany in 684 Q2’18 96 551 • Strong take rate of 17% +28% 45 35 H1’17 H1’18 H1’17 H1’18 H1’17 H1’18 1. Growth rates on a constant curre
Slide 12: MENA: Continuously Outperforming across All Markets
MENA: Continuously Outperforming across All Markets Orders GMV Revenues Comments 1 +75% 1 • Order & GMV growth drivers +126% +53% • Expansion of markets 919 • Roll out of own delivery +98% 123 • Take rate increased to 13.4% mainly due to own- +58% delivery roll-out 602 85 • GMV and Revenues were aff
Slide 13: Asia: Rapid Growth & Improvements in Key Markets
Asia: Rapid Growth & Improvements in Key Markets Orders GMV Revenues Comments • Order & GMV growth drivers • Continued growth in South Korea 1 • Early stage markets +48% +50% 1 with high growth • Take rate increase to 15.9% +39% +41% • GMV and Revenues were affected by the strengthening 551 88 Euro
Slide 14: Americas: Rapid Development in Early Stage Markets
Americas: Rapid Development in Early Stage Markets Orders GMV Revenues Comments • Order & GMV growth drivers • Continued city expansion • Take rate increased to 14.5% mainly due to: • Own-delivery roll-out • Premium placement 1 1 increase +48% +71% • GMV and Revenues were affected by the strengtheni
Slide 15: Agenda
Agenda 1 Business Update - Niklas Östberg, CEO 2 Financial Update - Emmanuel Thomassin, CFO 3 Outlook - Niklas Östberg, CEO 4 Q&A Delivery Hero SE. H1 2018 Trading Update. 15
Slide 16: Outlook FY 2018 (1/2)
Outlook FY 2018 (1/2) Comments Adjustments to Revenue Guidance • Q1’18 revenue guidance midpoint of €755m (range of €740m to €770m) +€9m 1 €790m (€ 20m) • Business has outperformed in Q2’2018 by €26m +€26m €770m 1 • Expected revenues from additional investments in 1 H2’2018 of €9m €755m • Revenue gu
Slide 17: Outlook FY 2018 (2/2)
Outlook FY 2018 (2/2) • Revenues • Full Year Revenues of €760-€780m adjusted for divestments • Adj. EBITDA • Previous guidance of -5% to -8% plus additional investments of up to €80m v Delivery Hero SE. H1 2018 Trading Update. 17
Slide 18: Continued focus on Growth and Leadership
Continued focus on Growth and Leadership Guidance at IPO Status Growth as No.1 Priority • >40% in short & mid-term ✓ H1 order growth 46% and constant currency revenue • >30% in the long-term v growth of 60% v ✓ Additional opportunistic investment program Invest for Leadership • Further build global
Slide 19: Q&A
Q&A Delivery Hero SE. H1 2018 Trading Update. 19
Slide 20: Appendix
APPENDIX Delivery Hero SE. H1 2018 Trading Update. 20
Slide 21: Financial Calendar 2018
Financial Calendar 2018 Date Event Sep 13th, 2018 Half-Year Report 2018 Nov 7th, 2018 Q3/9M Trading Update 2018 Delivery Hero SE. H1 2018 Trading Update. 21
Slide 22: Definitions
Definitions • Gross Merchandise Value (GMV) is the total value of orders (including VAT) transmitted to restaurants. • “Like-for-like” figures include foodpanda and exclude the results of our disposed operations in the UK and India. The results of smaller acquisitions and disposals are not adjusted
Slide 23: 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