Delivery Hero Se · XETR:DHER
Delivery Hero — Investor Presentation (October 2017)
21 slides from Delivery Hero's investor presentation, Oct 2, 2017
Slide 1: Delivery Hero Investor Presentation
Delivery Hero Investor Presentation The #1 GLOBAL LEADER in Online Food Ordering and Delivery 1
Slide 2: Our Clear Vision
Our Clear Vision AMAZING FOOD AMAZING ORDERING Create an amazing takeaway AMAZING experience SERVICE Introduction 2
Slide 3: We Are an Online Food Ordering and Delivery Marketplace
We Are an Online Food Ordering and Delivery Marketplace USER1 RESTAURANT Receive Cook Order 3 4 2 Customer Order 1 Search Received (TBU) Deliver2 5 6 Eat Customer Order Received (TBU) RESTAURANT DRIVER Source: Company information Notes: 1. Number of actives in 2016 was c. 20m globally 2. Delivery He
Slide 4: Delivery Hero at a Glance: Best-in-class Performance and Global Leadership
Delivery Hero at a Glance: Best-in-class Performance and Global Leadership €2.6bn +71% Gross Merchandise 197m Orders 1 Y/Y Revenue Value1 Growth2 €72bn3 Already Reaching #1 Leader in Taking on €7.5tn 4 2.7bn People 5 36 out of 42 Food Market Opportunity Countries3 Source: Company information; Euromo
Slide 5: Delivery Hero Highlights
DELIVERY HERO HIGHLIGHTS 1 Large Market Opportunity 2 Global Category Leadership 3 Highly Attractive Markets 4 Very Strong Business Fundamentals 5 Leadership in Innovation and Technology 6 Multiple Drivers for Long-term Growth Introduction 5
Slide 6: Unlocking the Large and Underpenetrated Food Market
Unlocking the Large and Underpenetrated 1 Food Market Mega Trends That Drive Additional Growth Total Food Market €7.5tn4 Online & Mobile Foodservice Market in Engagement Delivery Hero’s Countries €563bn3,5 On-demand & Takeaway Last-mile Market in Delivery Hero’s Logistics Countries €72bn2,5 Life-sty
Slide 7: We Are the Global Leader in Online Food Delivery
We Are the Global Leader in Online Food Delivery 2 with Larger Reach, More Scale and Faster Growth # of Countries 421 12 1 9 #1 Positions 361,2 12 1 5 Leading Player # of Orders c. 197m3 c. 136m c. 101m c. 49m # of Restaurants >150k4 c. 69k c. 50k c. 29k Revenue Growth5 +71%6 +52% +36% +45% Largest
Slide 8: Consistently Increasing Order Frequency Across Highly Attractive Food Delivery Markets
Consistently Increasing Order Frequency Across 3 Highly Attractive Food Delivery Markets INCREASING # OF ORDERS Average Monthly Orders per Active Customer Over Time1 +95% +32% +33% +40% +27% +19% MENA excl. Turkey Turkey Asia Americas Europe excl. Nordics Nordics Month 1 Month 47 Month 1 Month 47 Mo
Slide 9: Highly Predictable Customer Behaviour With Accelerating Growth
Highly Predictable Customer Behaviour With 4 Accelerating Growth… MAJORITY OF ORDERS FROM EXISTING COHORTS1 Total Orders per Cohort and Year Increasing Orders From First-time 2016 Cohort Customer-b ase Orders From 2015 Cohort High Orders From Returning 2014 Cohort Customer- base Orders From 2013 Coh
Slide 10: Leader in Innovation and Technology
5 Leader in Innovation and Technology Search & Discovery Seamless POS Integration 42m Automated Premium Listing 150k Menu Online Payment Multiple Driver Tracking Restaurants2 Items1 Food Tracking Native Restaurant Apps Filtering Automated Dispatching 18m Easy Re-ordering I. Discovery II. Restaurant
Slide 11: Multiple Drivers for Long-term Growth and Profitability
Multiple Drivers 6 for Long-term Growth and Profitability Ongoing Industry Consolidation Above 50% EBITDA Margin Take-rate in Best Markets Expansion M&A with Best FOR SCALE Marketplace Markets Already Increased +18% Frequency MARGIN Taking on Through Better EXPANSION €7.5tn Experience Food Market €7
Slide 12: Business Model & Financials
Business Model & Financials 12
Slide 13: Our Business Model Is Designed for Multiyear Revenue Growth
Our Business Model Is Designed for Multiyear Revenue Growth Average Orders GMV Take-rate Revenue Basket Size INCREASING Recurring high quality cohorts Take-rate combined with expansion driven strong new by market customer growth maturity and and increasing own delivery frequency Business Model & Fin
Slide 14: Growing Take-rates With Significant Long-term Upside Potential
Growing Take-rates With Significant Long-term Upside Potential REGIONAL TAKE-RATES1,2 NET TAKE-RATES1,2,3 % 12.3% 10.5% 10.9% 17.2 % 9.1% 15.5 % 15.4 % 14.0 % Europe 12.9 % 12.4 % 12.3 % Asia Group 10.2 % 10.2 % 1Q 2016 1Q 2017 1Q 2016 1Q 2017 Americas 8.7 % Europe Americas MENA 9.9% 9.4% 9.1% 8.7%
Slide 15: Strong Order and GMV Growth
Strong Order and GMV Growth… ORDERS GMV (#m, aggregated) (€m, aggregated) GROWTH GROWTH ’15-’16 ’15-’16 LFL1,2 2 2 LFL1,2 2,618 197 +52% +51% 65% 299 27 81% 130 1,731 LFL Adj.1,2 10 135 foodpanda 16 165 171 65% 2,324 62% Delivery Hero 103 1,430 2015 2016 2015 2016 Source: Company information Notes:
Slide 16: Accelerate Revenue Growth Beyond Volume Growth
…Accelerate Revenue Growth Beyond Volume Growth REVENUE SEGMENT REVENUE COMPOSITION 2016 (€m, aggregated)1 BY REGION (aggr. LFL adj.2 Delivery Hero4 + foodpanda5) LFL1,2 +71% GROWTH Americas Delivery Hero ’15-’16 7% 347 (6%) 3 foodpanda 7 341 Asia 128 () Previous Year 50 % 26% (24%) Europe 43% (48%)
Slide 17: Margins Show Strong Operational Leverage With Y-o-Y Margin Improvement
Margins Show Strong Operational Leverage With Y-o-Y Margin Improvement 2015-16 ADJ. EBITDA5 (€m) 2015-16 ADJ. EBITDA BEFORE MARKETING EXPENSES4,5 (€m) ADJ. EBITDA MARGIN1,2,5 (93)% (34)% 29% (%, aggregated) Several Markets Already at 99 >50% EBITDA Margin6 113 60 2015 2016 (15) (71) 2015 2016 Delive
Slide 18: Our H1 2017 Results: Continued Growth With Strong Margin Trajectory
Our H1 2017 Results: Continued Growth With Strong Margin Trajectory 247 66% ORDERS1 REVENUE1 (m, aggregated) (€m, aggregated) 47% 149 132 89 H1'16 H1'17 H1'16 H1'17 GMV1 ADJ. EBITDA1,2 (€m, aggregated) (€m, aggregated) H1'16 H1'17 -45 51% -70 1,752 1,164 ADJ. EBITDA H1'16 H1'17 MARGIN1,2 (47)% (18)%
Slide 19: Strong Growth Across All Segments With Improving EBITDA Margins
Strong Growth Across All Segments With Improving EBITDA Margins Europe MENA Asia Americas H1’16 H1’17 H1’16 H1’17 H1’16 H1’17 H1’16 H1’17 Orders1 (m, aggregated) 28 35 34 54 19 30 9 13 GMV1 (€m, aggregated) 434 551 374 602 260 426 96 174 Average Order Value (€) 15.5 15.7 11.1 11.1 13.4 14.1 11.2 13.
Slide 20: Delivery Hero Summary
DELIVERY HERO SUMMARY 1 2 3 4 5 6 v Substantial More v v Highly v in Leader v Long-term v Best-in- Market Leadership Attractive Product and Take-rate Class Opportunity Positions Regions Technology Upside Delivery Operations Summary 20
Slide 21: Important Notice
Important Notice ALL FINANCIAL FIGURES INCLUDED IN THE FOLLOWING PRESENTATION ARE BASED ON IFRS, UNLESS NOTED OTHERWISE. THE 2014, 2015 AND 2016 DELIVERY HERO FINANCIAL INFORMATION AND THE 2015 AND 2016 FOODPANDA FINANCIAL INFORMATION IS AUDITED (UNLESS OTHERWISE INDICATED). For the purposes of this