The food delivery service Delivery Hero wants to crack the billion mark at best in the current year.
As the company in the MDAX announced on Thursday based on preliminary figures in Berlin, the result, which was adjusted for special effects, should climb to 975 million to 1.025 billion euros in 2025 in 2025. Analysts had expected a goal at this level. In the previous year, the operational profit grew to around 750 million euros after 254 million 2023.
In the gross rare value (Gross Merchandise Value, GMV), the new CFO Marie-Anne Popp is aiming for an increase of eight to ten percent for constant exchange rates. The revenue adjusted for vouchers (segment sales) should increase by 17 to 19 percent without currency effects. In 2024, the gross rare value increased by 8.3 percent to almost 48.8 billion euros for constant exchange rates, accordingly the segment sales jumped by a fifth to 12.8 billion euros.
For Delivery Hero, the question also arises how the company can boost business in Asia. Because without the stumbling segment, the gross rare value climbed by a good quarter in the fourth quarter of constant courses. The board explains the declining order amount in Asia by the fact that in South Korea – the most important single market of the group – customers without a delivery subscription does not receive any free delivery. Accordingly, many desire for orders should have passed.
In addition, the South Korean online group Coupang makes life difficult for Germans: On the one hand, the opponent of the opponent customers with attractive discounts – a popular means in the delivery industry to draw attention to consumers. In addition to restaurants, Coupang offers a significantly larger portfolio of things that customers can order. Products can usually be ordered home on the same day via the website, which is reminiscent of Alibaba and Amazon.
The Middle East subsidiary Talabat, on the other hand, made jumps with sales and GMV. Delivery Hero brought the segment to the stock exchange in Dubai in December in order to create more financial scope. The group had brought in almost two billion euros with the 20 percent share of Talabat offered.
The board announced a first purpose on Thursday: Change bonds for a total of around one billion euros are to be bought back. This is financed from the revenue of the Talabat IPO and should further optimize the company’s capital structure, it said as an explanation.
Bernstein leaves Delivery Hero on ‘Outperform’ after numbers
The US analysis house Bernstein Research left the classification for Delivey Hero after numbers on “Outperform” with a price target of 59 euros. The figure of the food supplier had delivered some positive surprises, analyst Annick Maas wrote in a quick assessment available on Thursday. The gross volume, the sales, the adjusted operational result and the Free Cashflow last year have exceeded expectations.
Delivery-Hero-CFO: Strong start-capital structure continued to focus
According to CFO Marie-Anne Popp, Delivery Hero had “a strong start to 2025”, in which the focus on profitable growth, a further improvement in free cash flow generation, optimization of the capital structure and strengthening liquidity.
The group wants to “focus on growing quarterly over quarter, but to further strengthen profitability and also the cash flow generation,” said Popp in an interview with Dow Jones Newswires. First, the balance sheet should be optimized in such a way that the group has a “robust balance”. “Dividends would probably be the next step, but I think we are concentrating on the first two steps as I said, with the idea of improving this every quarter,” said Popp. It has been permanently CFO of the MDAX group since January, and she had been interim of the position since July 2024.
In the past fiscal year, Delivery Hero has the adjusted EBITDA significantly more than doubled by 254 million at around 750 million euros and surprised at the end of the center of the target range instead of the lower end at the end of the year. In 2025, the EBITDA is expected to land 975 million to 1.025 billion euros. In addition, the MDAX group generated a positive free cash flow for the first time – from 100 million euros – this is scheduled to increase to more than 200 million euros in the current year. In 2024, the group reduced its net debt by 55 percent to 1.9 billion euros. In addition, the sub-IPO of the daughter Talabat in 2024 washed a net proceeds of around 1.8 billion euros into the cash register of the Berlin mother, which increased the cash stock at the end of 2024 to 3.8 billion euros. To further optimization, the group now plans to buy back its own conversions for around 1 billion euros with a due date 2025 to 2027.
Decision on foodpanda courses lies with Uber
After blocking the sale of Delivery Heros Taiwanese Foodpanda business by the Taiwanese competitive keepers, the decision on the further procedure is solely with prospective buyers. This said Deliver Hero Cfo Marie-Anne Popp in an interview with Dow Jones Newswires. The US driving agent and food delivery service Uber received the decision in January and two months to appeal. Both companies are of course “in contact,” said Popp.
According to December, Uber can make an appeal against the decision of the TFTC or end the transaction. At the end of December it became known that Taiwan’s Fair Trade Commission (TFTC) had not granted any antitrust approval for the intended sale. In May 2024, Delivery Hero announced the agreement on the sale of the Foodpanda business in Taiwan for $ 950 million in CAR in Uber, as well as a participation of the buyer Uber in Delivery Hero in the volume of around $ 300 million. The transaction therefore had a total value of $ 1.25 billion and should be completed in the first half of 2025.
Delivery Hero continue recovery rally – report convinced
Investors reward the message with purchases: Delivery Hero’s share at Xetra temporarily gains 7.92 percent to EUR 28.33. You continued your recreation rally on Thursday with a 10 percent to the 50-day line. After a total of 21 percent since the monthly low, the demand in the food suppliers’ papers then subsided. The Berliners had promised their investors in the morning for the current year.
Analyst Annick Maas from investment bank Bernstein spoke with a view to the annual report of “many positive surprises”. In addition to the encouraging view, she praised debt reduction, supported by the proceeds from the Talabat brand in Dubai’s IPO, as well as the expectations of the fourth quarter.
In addition to the figures, the Berliners announced buyback plans for several convertible bonds in the morning. Financed from the revenue of the Talabat IPO, the capital structure is to be further optimized.
Berlin (dpa-Afx)
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