View all newsletters
Receive our newsletter - data, insights and analysis delivered to you
  1. News
August 16, 2022

Delivery Hero reports 38% increase in total segment revenue in Q2

The company’s gross merchandise value (GMV) grew by 18% to €9.9bn.

Multinational online food-delivery service Delivery Hero has reported a total segment revenue of €2.1bn in its second quarter (Q2) results of 2022.

The figure represents an increase of 38% year-over-year (YoY) from €1.5bn reported in the same period a year ago.

The food delivery company’s quarterly gross merchandise value (GMV) also grew by 18% YoY to €9.9bn.

Last month, Delivery Hero acquired Barcelona-based on-demand courier service Glovo.

With the inclusion of Glovo, Delivery Hero anticipates a total segment revenue between €9.8bn to €10.4bn, and GMV between €44.7bn to €46.9bn, for FY 2022.

The adjusted EBITDA/GMV margin is expected to remain between -1.5% to -1.6%.

Delivery Hero said that the high contribution margin in own-delivery, supported by Asia and Europe segments; as well as increased market share in key regions, supported its growth in Q2, despite the continued easing of Covid-19 restrictions.

In the third quarter (Q3) of 2022, it anticipates a GMV growth of 7% quarter on quarter (QoQ) to €10.6bn (€11.5bn, including Glovo). This is based on the first six weeks of data.

It also estimates that its platform will achieve adjusted EBITDA break-even during Q3 2022, including Glovo.

Delivery Hero CFO Emmanuel Thomassin said: “We had a very solid quarter throughout all segments, with the Integrated Verticals segment showing a strong GMV growth of 75% YoY – despite the planned deceleration of new Dmart openings, with a total of 1,125 stores by the end of June.

“Meanwhile, our constant focus on unit economics and product assortment led to a basket size increase of 27% YoY in Q2 2022, driving a further increase in gross profit margins. In the second half of 2022, we will continue to work on optimising our store network and operational efficiency.”

NEWSLETTER Sign up Tick the boxes of the newsletters you would like to receive. The top stories of the day delivered to you every weekday.
I consent to GlobalData UK Limited collecting my details provided via this form in accordance with the Privacy Policy
SUBSCRIBED

THANK YOU

Thank you for subscribing to Verdict Food Service