The world-renowned local delivery platform, Delivery Hero SE, has unveiled numerous significant achievements in its Q2 2023 Trading Update, with a keen focus on environmental and social initiatives. Here is an in-depth look at the milestones that underline their exceptional performance.
Financial Triumph: A Look At The Numbers
Positive Adjusted EBITDA:
Marking a noteworthy feat, the company recorded positive adjusted EBITDA in H1 2023, with a 0.2% EBITDA/GMV margin in Q2 2023 after cost allocation. This significant achievement signals the company’s progressive pathway to profitability.
GMV Growth:
There was a double-digit GMV growth of 18% YoY outside Asia in Q2 2023, indicating an extraordinary expansion beyond the continent. The total GMV growth, which accelerated to 8% YoY, surpassed the original expectations of 4% YoY.
Revenue Outlook:
Delivery Hero has revised its Total Segment Revenue outlook for FY 2023 to an increase of approximately 15% YoY, up from the previous guidance of around 10% YoY.
CEO’s Perspective: Steadfast Growth
Niklas Östberg, CEO and Co-Founder of Delivery Hero, said, “Our team has executed another fantastic quarter, with significant improvements in both consumer and rider products. As a result, we’ve seen an acceleration in YoY growth in Q2, as well as an improvement in category leadership. We achieved this while still hitting the milestone of a positive adj. EBITDA on Group level.”
Promising Verticals: Integrated & Dmarts
Integrated Verticals:
The segment recorded a promising GMV growth of 26% YoY this quarter. This strong performance indicates an innovative and robust business model.
Dmarts Achievement:
Dmarts achieved a positive Gross Profit for the first time in June. This was accomplished through healthy volume growth, larger shopping baskets, and improved cost efficiency, demonstrating strong potential for the Quick Commerce model.
Eco-Friendly Endeavors & Social Commitments
While marching towards profitability, Delivery Hero maintained its commitment to environmental and social programs. Key initiatives include piloting electric vehicles, upskilling over 56,000 merchants, expanding sustainable packaging, and financing tech boot camps for women.
Guidance for FY 2023 & Key Performance Indicators
The report provided detailed guidance for FY 2023, encompassing areas like GMV, Total Segment Revenue, Adj. EBITDA, and Free Cash Flow. Moreover, key performance indicators like GMV Group, %YoY Growth, and segment revenues were highlighted, illustrating a comprehensive view of the company’s financial structure.
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An Era of Transformation
With its Q2 2023 Trading Update, Delivery Hero has undeniably positioned itself as a market leader. By achieving positive adj. EBITDA, recording impressive GMV growth, and committing to social and environmental initiatives, the company has showcased resilience and innovation.
Emmanuel Thomassin, CFO of Delivery Hero, said: “I’m very pleased that the progression made towards our profitability goals at the start of the year has materialized in Q2. A particularly significant result was that our Dmarts achieved positive Gross Profit for the first time, ahead of previous guidance. As we continue optimizing our operations and sharing key learnings on a global scale, we are unlocking the valuable potential they can have across the business going forward.”
Stay tuned for more updates on the forefront of business excellence.
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