Delivery Hero Delivers Strong Performance in Q4 2023
Berlin, 5 February 2024 – Delivery Hero SE (“Delivery Hero” or the “Company”), the world’s leading local delivery platform, announces its preliminary results for Q4 2023 and FY 2023, demonstrating successful execution of its growth strategy and achievement of key financial milestones.
Highlights from FY 2023:
- Fully met FY 2023 guidance, with adjusted EBITDA surpassing EUR 250 million.
- Achieved Free Cash Flow break-even in H2 2023, ending FY 2023 with EUR 1.7 billion in cash and cash equivalents.
- Group GMV growth of 6.8% YoY, with Total Segment Revenue increasing by 15.7% YoY.
- Expectations for FY 2024 include GMV growth of 7-9% YoY and Total Segment Revenue growth of 15-17% YoY, with an anticipated adjusted EBITDA of EUR 725-775 million and positive Free Cash Flow.
Niklas Östberg, CEO and Co-Founder of Delivery Hero, stated, “We conclude 2023 on a strong note, meeting our full-year commitments and surpassing key milestones. Looking ahead to 2024, we remain dedicated to our strategic goals of profitable growth, cash generation, and disciplined capital allocation.”
Key Financial Performance:
- Group GMV increased by 6.7% YoY in Q4 2023 and by 6.8% YoY in FY 2023, meeting guidance.
- Total Segment Revenue grew by 15.7% YoY in Q4 2023 and FY 2023, driven by healthy order growth.
- Adjusted EBITDA exceeded EUR 250 million in FY 2023, with an uplift of more than EUR 870 million compared to FY 2022.
Guidance for FY 2024:
- Delivery Hero anticipates Group GMV growth of 7-9% YoY and Total Segment Revenue growth of 15-17% YoY.
- Expected adjusted EBITDA range is EUR 725-775 million, with a positive Free Cash Flow anticipated for FY 2024.
These unaudited preliminary results underscore Delivery Hero’s commitment to sustained growth and financial discipline. Further details will be provided in the Trading Update on February 14, 2024.
