DGAP-News: Delivery Hero SE / Key word(s): Quarterly / Interim Statement/Forecast 
Delivery Hero reports a strong first quarter 2021 and sets total segment revenue guidance at EUR 6.1-6.6 billion for 
the full year 
2021-04-28 / 07:35 
The issuer is solely responsible for the content of this announcement. 
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Delivery Hero reports a strong first quarter 2021 and sets total segment revenue guidance at EUR 6.1-6.6 billion for 
the full year 
  . Continuing its strong growth trajectory, Delivery Hero's orders are up 88% YoY to 663 million in Q1 2021, with 
    Gross Merchandise Value (GMV) up 83% YoY at EUR 7.8 billion and total segment revenue up 116% YoY at EUR 1.4 
    billion, making it the ninth consecutive quarter with YoY revenue growth of around 100% 
  . Exceptional growth of quick commerce with Integrated Verticals GMV growing by 323% YoY. Other highlights on a 
    segment level include: increase of 116% YoY in terms of segment revenues in Asia; highest order growth in MENA 
    since Q1 2018 at 65% YoY; 137% YoY increase in segment revenue in Europe; fourth^consecutive quarter with order 
    growth above 100% YoY in the segment Americas 
  . Looking ahead, Delivery Hero sets an ambitious guidance for the full year 2021 with a GMV target of between EUR 31 
    billion and EUR 34 billion, total segment revenue of between EUR 6.1 billion and EUR 6.6 billion, and adjusted 
    EBITDA/GMV margin of between -1.5% and -2.0% 
Berlin, 28 April 2021 - Delivery Hero SE ("Delivery Hero"), the world's leading local delivery platform, today 
published its financial results for Q1 2021 and gave guidance for the financial year 2021. To provide a better picture 
of the group profile, financials for the first quarter and the outlook for the financial year 2021 include Woowa on a 
pro forma basis from 1 January 2021, and exclude Delivery Hero Korea from the same date onwards, for comparison this 
also applies to historic data. Orders in the first quarter of 2021 increased to a record 663 million (+88% YoY). 
Own-delivery accounted for 48% of those orders (compared to 38% in Q1 2020 on a pro forma basis). GMV increased 83% YoY 
to EUR 7.8 billion, while revenues grew 116% YoY to EUR 1.4 billion, making Q1 2021 the ninth consecutive quarter where 
revenue growth is around 100% YoY. 
Niklas Östberg, CEO and Co-Founder of Delivery Hero, said: "The first quarter of 2021 marked the start of yet another 
promising year for Delivery Hero, exceeding orders from Q4 2020 by 53 million to reach 663 million in Q1 2021. After 
welcoming Woowa to the Delivery Hero family in March, the group celebrated the milestone of processing a record of 100 
orders per second in a single day on average in April. Looking ahead, there are many industry trends that provide ample 
growth opportunities for our business, such as the ever-evolving customer demand for convenience and speed. Celebrating 
Delivery Hero's tenth anniversary, we're more than excited about the future." 
2021 Outlook 
Delivery Hero expects full year GMV at EUR 31 billion to EUR 34 billion, total segment revenue between EUR 6.1 billion 
and EUR 6.6 billion, and an adjusted EBITDA/GMV margin of between -1.5% and -2.0%. Delivery Hero will keep investing 
into Integrated Verticals (specifically Dmarts), and new markets such as Japan or Vietnam. 
Emmanuel Thomassin, CFO of Delivery Hero, said: "Delivery Hero has started the year on a strong note, pushing forward 
our growth strategy across more than 50 countries. Our results for the first quarter of 2021 have been fueled by 
investments in our technology and logistics infrastructure, with quick commerce gaining more and more momentum as it 
answers to concrete customer needs. We have now set ambitious targets for 2021, with a revenue outlook between EUR 6.1 
billion and EUR 6.6 billion." 
Welcoming Woowa and expanding in Japan 
On 4 March 2021, Delivery Hero closed the transaction in relation to Woowa Brothers Corp. On a pro forma basis, 
Delivery Hero and Woowa combined processed 1.9 billion orders, generated EUR 21.8 billion GMV and EUR 3.5 billion 
revenue in 2020. Creating operational synergies between Woowa and Delivery Hero has already begun. In the coming 
months, in Japan, both companies will merge and operate under Delivery Hero's local brand, foodpanda. Since entering 
Japan in September 2020, Delivery Hero has rapidly expanded its service across the country, reaching more than 20 
cities today. 
Investing into quick commerce 
In 2019, Delivery Hero started pioneering quick commerce, or q-commerce, the next generation of e-commerce. The group's 
ambition is to bring groceries and household items to customers in under one hour, often as fast as 10-15 minutes. In 
2020, q-commerce continued to be a key area for the business - both through its Dmart rollouts (small Delivery 
Hero-owned warehouses located in strategically relevant locations and specialized on delivery) and partnerships with 
local stores - with extensive investments made in logistics and technology. 
Q-commerce operations saw a significant expansion in Q1 2021 with orders growing more than 400% YoY, averaging over 
400,000 orders per day in April via local stores and Dmarts. In Q1 2021, the company operated over 600 Dmarts, active 
in 35 countries across Asia, Europe, Latin America and MENA. Today, Delivery Hero continues to see significant 
potential for further expansion in 2021, as q-commerce continues to answer to changing customer demands, as well as 
catering to local shops by bringing their offerings to an online customer base. 
Strengthened focus on a sustainable ecosystem, diversity and inclusion 
As they are the ones who deliver amazing experiences to our customers, we genuinely care about riders. In 2019, 
Delivery Hero founded the Global Rider Program, which strives to further improve the experience of riders while also 
contributing to the business objectives of Delivery Hero. The program currently consists of eight workstreams that 
tackle key critical rider areas ensuring a compliant, safe and effective work environment. Last year, Delivery Hero 
also established a financial fund for riders with a volume of EUR 3 million, supporting those riders who are engaged as 
freelancers and directly affected by COVID-19 for a duration of up to 15 days. 
Being on track to become carbon neutral globally by the end of this year, Delivery Hero expanded the scope of its 
carbon neutrality program by adding Latin America to the list of its markets achieving carbon neutrality in January 
2021, after European operations in January 2020. Delivery Hero's approach to achieving carbon neutrality is to measure 
and offset 100% of its carbon footprint, including emissions from operations (such as deliveries, packaging items) and 
offices (such as energy consumption, business travel). Aiming at further reducing carbon emissions and waste, the 
company will launch a sustainable packaging program later this year. 
Next to sustainability, diversity and inclusion continues to be one of the focus areas for Delivery Hero in 2021. 
Delivery Hero recently announced the creation of a new D&I Advisory Board, becoming one of the first DAX30 companies to 
announce such an initiative. The mission of the Advisory Board is to provide regular advice and act as a sounding board 
for the D&I program, strengthen the global inclusion work across the group, as well as being ambassadors within and 
outside the organization - championing D&I at Delivery Hero and beyond. 
Annual Report 2020 
Today, Delivery Hero also released its 2020 Annual Report. Orders for the full year reached 1.3 billion, an increase of 
96% YoY (2019: 666 million). GMV increased by 66% YoY to EUR 12.4 billion (2019: EUR 7.4 billion), with total segment 
revenues exceeding the initial guidance for the full year 2020 of EUR 2.4 billion to EUR 2.6 billion with EUR 2.8 
billion, up 95% YoY (2019: EUR 1.5 billion). The underlying adjusted EBITDA margin (as percentage of total segment 
revenue) prior to the additional investments stood at -16%, in line with the guidance of -14% to -18%. The year was 
marked by M&A (i.e. Glovo's Latin American business, InstaShop), organic entries (i.e. Japan) and partnerships (i.e. 
Mastercard). 
Financial position 
Following the capital increase in January this year and the recent closing of the transaction with Woowa in March as 
well as the financing of the operating business, Delivery Hero's financial position remains solid. 
Delivery Hero - Key Performance Indicators Q1 2021 
                                  Q1 2020 Q1 2021 
                                      EUR     EUR 
                                  million million 
Orders (Unit million) Group         352.2   662.8 
%YoY Growth                         85.8%   88.2% 
%OD Orders                          38.1%   47.9% 
Asia                                223.3   430.6 
MENA                                 84.7   140.0 
Europe                               25.4    47.0 
Americas                             18.7    45.2 
Integrated Verticals                  4.3    17.0 
GMV Group 1,2                     4,240.0 7,769.5 
%YoY Growth (RC) 3                  61.4%   83.2% 
%YoY Growth (CC) 4                      -   92.2% 
Asia                              2,800.6 5,129.4 
MENA 1,2                            956.8 1,537.5 
Europe                              320.5   682.4 
Americas 1,2                        162.1   420.2 
Integrated Verticals                 45.7   193.2 
Total Segment Revenues Group 1,2    631.3 1,361.3 
Inter Company Eliminations 5        (1.0)  (20.9) 
%YoY Growth (RC) 3                  96.7%  115.6% 
%YoY Growth (CC) 4                      -  128.6% 
Asia                                290.8   629.5 
MENA 1,2                            202.3   325.6 
Europe                               57.5   136.6 
Americas 1,2                         37.8   107.0

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April 28, 2021 01:36 ET (05:36 GMT)