Delivery Hero SE · XETR:DHER
Delivery Hero — FY2020 and Q1 2021 Earnings Presentation
36 slides from Delivery Hero's earnings presentation, Apr 28, 2021
Slide 1: Full Year 2020 Results and Q1 2021 Trading Update
Delivery Hero Full Year 2020 Results and Q1 2021 Trading Update 28 April 2021
Slide 2: Always delivering an amazing experience
Always delivering an amazing experience Fast and easy to your door 2
Slide 3: Growth as No. 1 Priority
Growth as Build Invest for No. 1 Tech & Product Profitability Leadership Priority Leadership Drive profitability through scale >40% in short/mid-term Further strengthen our position Invest in innovation to build a and automation (2017 IPO target) across the most attractive third generation on-demand
Slide 4: Agenda
Full Year 2020 Results Q1 2021 Trading Update Case Study Contribution Margin 2021 Outlook Snapshot ESG
Slide 5: Guidance for 2020 Achieved or Exceeded
Guidance for 2020 Achieved or Exceeded 2020 Key Highlights Guidance 2020 Results Total Segment €2.4bn to €2.6bn €2.8bn Revenues Adjusted EBITDA margin -14% to -18% of Total -16% of Total (excl. additional Segment Revenues Segment Revenues investments) Significant growth in orders (+96% YoY), GMV (+6
Slide 6: FY 2020 Overview
1.3bn €12.4bn €2.8bn Orders GMV Total Segment Revenue1 Overview +66% YoY +95% YoY +96% YoY +74% Constant Currency +103% Constant Currency Asia MENA Europe Group 1.2% 2.3% FY 2019 FY 2020 43 99 FY 2019 FY 2020 FY 2019 FY 2020 Adj. EBITDA -431 -568 -312 -456 FY 2019 FY 2020 -19 -0.1% -2 -1.8% as % of
Slide 7: Adjusted EBITDA to EBT Bridge 2020
Cash Relevant Non-Cash Relevant 1. 1 Management adjustments -431 -663 consist of costs related to corporate transactions & 2019 -49 0 -17 financing rounds as well -45 -97 (€m) as reorganization -100 +75 measures 2. 2 Main contributors are investments in Rappi and Glovo -568 -1,388 3. 3 Mainly due to
Slide 8: Woowa transaction and pro forma presentation
• As a reminder: ‒ Woowa transaction closed 4 March 2021 ‒ Main condition of the Woowa transaction approval by the KFTC was the divestment of Delivery Hero Korea • In order to give a better picture of the group profile going forward, we will be presenting pro forma numbers that are: ‒ Including Woow
Slide 9: FY 2020 vs Pro Forma Key Metrics
Total Segment Orders (bn) GMV (€bn) Adj. EBITDA (% of GMV) Revenue (€bn)1 +45% 1.9 21.8 +76% +23% 3.5 2.8 12.4 1.3 FY 2020 FY 2020 Pro Forma FY 2020 FY 2020 Pro Forma FY 2020 FY 2020 Pro Forma FY 2020 FY 2020 Pro Forma €-568m €-590m 61% 45% -2.7% FY 2020 FY 2020 Pro Forma Own-delivery share Own-deli
Slide 10: Agenda
Full Year 2020 Results Q1 2021 Trading Update Case Study Contribution Margin 2021 Outlook Snapshot ESG
Slide 11: Q1 2021 Orders, GMV and Revenue
663 610 520 663m 408 352 190 217 262 311 +88% 120 131 148 169 YoY ORDERS 2018 2019 2020 2021 7.8 6.9 5.8 +83% €7.8bn 3.8 4.2 4.8 +92% 3.3 2.6 2.9 YoY YoY 2.0 2.3 1.6 1.7 Reported Constant GMV Currency Currency 2018 2019 2020 2021 1.4 €1.4bn 1.2 0.8 0.9 +116% +129% 0.5 0.6 0.6 YoY YoY 0.3 0.3 0.4 TOT
Slide 12: Q1 2021 Highlights
Closing of the Woowa transaction as of 4 March 2021 – pushing Delivery Hero to the next level Q1 2021 is the 9th consecutive quarter with YoY revenue growth of around 100% Share of own-delivery orders up strongly to 48% (Q1 2020: 38%) Further increase of number of active Dmarts, with a total of 6031
Slide 13: Group Orders, GMV and Total Segment Revenue
Total Segment Orders (m) GMV (€m) Revenue (€m)1 YoY growth rates in red are constant currency and in black are reported currency. All values including Woowa and excluding Delivery Hero Korea. +92%2 +83% 7,770 Q1 2021 is the 9th consecutive quarter with YoY revenue growth of around 100% Own-delivery
Slide 14: Asia Segment
Segment Orders (m) GMV (€m) Revenue (€m) YoY growth rates in red are constant currency and in black are reported currency. All values including Woowa and excluding Delivery Hero Korea. +88% +83% Growing Asia segment is now contributing 46% to 5,129 Total Segment Revenues Decline in AOV due to FX eff
Slide 15: MENA Segment
Segment Orders (m) GMV (€m) Revenue (€m) YoY growth rates in red are constant currency and in black are reported currency. All values including Woowa and excluding Delivery Hero Korea. +83%1 +61% Further growth acceleration in MENA with highest 1,538 order growth (65% YoY) since Q1 2018 Own-delivery
Slide 16: Europe Segment
Segment Orders (m) GMV (€m) Revenue (€m) YoY growth rates in red are constant currency and in black are reported currency. All values including Woowa and excluding Delivery Hero Korea. +113% +113% Strongest order, GMV and revenue growth since 682 IPO, and accelerating sequentially March 2021 orders
Slide 17: Americas Segment
Segment Orders (m) GMV (€m) Revenue (€m) YoY growth rates in red are constant currency and in black are reported currency. All values including Woowa and excluding Delivery Hero Korea. +173%1 +159% Continued strong growth and fourth consecutive 420 quarter with order growth above 100% YoY (Q1 2021:
Slide 18: Integrated Verticals Segment
Segment Orders (m) GMV (€m) Revenue (€m) YoY growth rates in red are constant currency and in black are reported currency. All values including Woowa and excluding Delivery Hero Korea. Integrated Verticals captures orders where Delivery Hero acts as a principal (Dmarts and +357% +353% DH Kitchens1)
Slide 19: Global Footprint
Global Footprint Asia MENA Europe Americas Bangladesh Pakistan Bahrain Qatar Austria Greece Argentina Guatemala Bosnia & Cambodia Philippines Egypt Saudi Arabia Hungary Bolivia Honduras Herzegovina Hong Kong Singapore Iraq Turkey Bulgaria Montenegro Chile Panama Japan South Korea Jordan UAE Croatia
Slide 20: Agenda
Full Year 2020 Results Q1 2021 Trading Update Case Study Contribution Margin 2021 Outlook Snapshot ESG
Slide 21: Contribution margin by region
MENA with positive contribution margin since many quarters 10% Strong improvement in Americas due to 5% significant delivery CPO decline on the back of optimized fleet utilization and 0% overall efficiency gains (i.e. in contact center) -5% Asia benefits from economies of scale -10% Not including no
Slide 22: Vouchers as % of segment revenue
10% 5% Vouchers as % of segment revenue 0% declined again in H2 2020 to 11.5% after a peak in H1 2020 (H1 2019: 7.2%, H2 -5% 2019: 12.6%, H1 2020: 14.1%) -10% Vouchers continue to be a tool for Not including non-commission revenue promoting usage and driving first time (1.4% of GMV in 2020) adoption
Slide 23: Agenda
Full Year 2020 Results Q1 2021 Trading Update Case Study Contribution Margin 2021 Outlook Snapshot ESG
Slide 24: 2021 Outlook
GMV €31bn to €34bn Total Segment €6.1bn to €6.6bn Revenue The 2021 adjusted EBITDA margin target already includes negative ~€550m EBITDA investments for: -1.5% to -2.0% of GMV Adjusted • Integrated Verticals (mostly Dmarts) • New Markets (Japan, Vietnam, Peru, Ecuador, etc.) Including negative EBITD
Slide 25: Agenda
Full Year 2020 Results Q1 2021 Trading Update Case Study Contribution Margin 2021 Outlook Snapshot ESG
Slide 26: Case Study Norway
Heterogeneous landscape of regulatory environment today… ...and different local rider engagement models • APAC and MENA: Freelance status of platform workers not widely disputed • Freelance only: most APAC markets incl. Singapore, Thailand • Europe and Americas: Freelance status of platform workers
Slide 27: Global Rider Program Summary
Summary ● Scope: All markets Delivery Hero is operating in ● Duration: The program consolidates ongoing rider initiatives since June 2019 ● Senior Management Involvement: Delivery Hero CFO, CPO and management functions for every country ● Purpose: The Global Rider Program strives to further improve
Slide 28: Climate Action Achievements & Outlook; D&I Strategy
Climate Action Achievements & Outlook D&I Strategy at Delivery Hero At Delivery Hero, carbon neutrality is an important part of our Our D&I strategy is focused on equal opportunity, equitable sustainability ambition. structures, and inclusive behavior. In January 2021, we achieved carbon neutrality
Slide 29: Q&A
DB Delivery Hero Q&A For further questions, feel free to reach out to [email protected]
Slide 30: Appendix
DB Delivery Hero Appendix
Slide 31: Delivery Hero Group quarterly data
2019 2020 2021 in €m Q1 Q2 H1 Q3 Q4 FY Q1 Q2 H1 Q3 Q4 FY Q1 Delivery Hero Group Orders 189.6 217.1 406.7 262.1 310.8 979.6 352.2 408.1 760.3 520.5 610.1 1,890.8 662.8 % YoY Growth 57.8% 66.3% 62.2% 77.6% 84.1% 72.7% 85.8% 88.0% 87.0% 98.6% 96.3% 93.0% 88.2% % OD Orders 17.4% 21.1% 19.4% 29.6% 34.1%
Slide 32: Europe quarterly data
2019 2020 2021 in €m Q1 Q2 H1 Q3 Q4 FY Q1 Q2 H1 Q3 Q4 FY Q1 Europe Orders 19.2 20.8 39.9 20.7 24.4 85.0 25.4 30.6 56.0 32.0 40.6 128.7 47.0 % YoY Growth 38.5% 42.1% 40.4% 44.5% 39.5% 41.1% 32.9% 47.4% 40.4% 54.8% 66.4% 51.4% 84.7% % OD Orders 10.2% 13.1% 11.7% 14.8% 15.6% 13.6% 19.0% 26.3% 23.0% 25.
Slide 33: Consolidation Change Since Q1 2020
Consolidation Change Since Q1 2020 Europe MENA Asia Americas Peru, Ecuador, Costa UAE, Qatar, Bahrain, South Korea Rica, Honduras and Acquisitions Germany (Honest Food) Egypt and Lebanon (Woowa Group) Guatemala (InstaShop) (Glovo) Colombia (iFood JV)1 Divestments Uruguay (Motwer) Canada (Foodora) Ad
Slide 34: Definitions
● Gross Merchandise Value (GMV) is the total value paid by customers (including VAT, delivery fees, other fees and subsidies). ● Total Segment Revenue is defined as revenue in accordance with IFRS 15, excluding the effect of vouchers and other discounts. ● Constant currency provides an indication of
Slide 35: Contact
Contact T: +49 (0)30 54 4459 105 Oranienburger Straße 70 10117 Berlin Germany [email protected] https://ir.deliveryhero.com 35
Slide 36: Disclaimer
● 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 should not be construed as, an offer to sell, or a solicitation of an offer to purchase, subscribe for or otherwi
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