• Abstract and Figures
• Public Full-text

ON A MISSION TO CREATE AN AMAZING TAKEAWAY EXPERIENCE ANNUAL REPORT 2017 DELIVERY HERO PERFORMANCE 2017 Annual Report 2017 DELIVERY HERO PERFORMANCE 2017 GROUP EUROPE MENA REVENUES +60% REVENUES +36% REVENUES +87% TO €544m TO €199m TO €153m ORDERS (MILLION) ORDERS (MILLION) ORDERS (MILLION) 2017 292 2017 73 2017 123 2016 197 2016 57 2016 75 GMV (EUR MILLION) GMV (EUR MILLION) GMV (EUR MILLION) 2017 3,824 2017 1,161 2017 1,370 2016 2,618 2016 900 2016 900 869 REVENUES (EUR MILLION) REVENUES (EUR MILLION) REVENUES (EUR MILLION) 2 2017 544 2017 199 2017 153 2016 341 2016 147 2016 82 ADJ. EBITDA (EUR MILLION) ADJ. EBITDA (EUR MILLION) ADJ. EBITDA (EUR MILLION) 2017 –94 2017 –46 2017 24 2016 –116 2016 –49 2016 18 ASIA AMERICAS REVENUES +66% REVENUES +91% TO €145m TO €47m ORDERS (MILLION) ORDERS (MILLION) 2017 68 2017 28 2016 45 2016 20 GMV (EUR MILLION) GMV (EUR MILLION) 2017 924 2017 370 2016 617 2016 232 REVENUES (EUR MILLION) REVENUES (EUR MILLION) 2017 145 2017 47 2016 87 2016 25 All information is presented on “like-for-like” basis Like-for-like presents Delivery Hero’s comparative 2016 results as if the acquisition of foodpanda had occurred on January 1, 2016 and excludes contributions from ADJ. EBITDA (EUR MILLION) ADJ. EBITDA (EUR MILLION) operations reported in discontinued operations. Furthermore Asia KPIs exclude our 2017 –47 2017 –25 former operations in China, which were sold in May 2016. 2016 –66 2016 –20 ON ­a ­mission Annual Report 2017 ON A MISSION Our mission has always been clear; to provide an amazing takeaway experience, creating joyful moments and connecting people with great food. LETTER FROM THE CEO PAGE 04 WHO WE ARE PAGE 08 Since we started Delivery Hero we have been transforming the way people order food. By offering choice, convenience, CREATING AN AMAZING TAKEAWAY EXPERIENCE PAGE 18 reliability and quality, we have become the easiest way for 3 our customers to discover and order food online. REPORT OF THE SUPERVISORY BOARD PAGE 33 CORPORATE GOVERNANCE REPORT PAGE 38 Today Delivery Hero is one of the world’s leading online food ordering and delivery marketplace. Join us in this NONFINANCIAL STATEMENT FOR THE GROUP PAGE 61 fascinating long-term growth story. THE DELIVERY HERO SHARE PAGE 70 COMBINED MANAGEMENT REPORT PAGE 72 CONSOLIDATED FINANCIAL STATEMENTS PAGE 102 RESPONSIBILITY STATEMENT PAGE 160 INDEPENDENT AUDITOR’S REPORT PAGE 161 Try out our interactive table of contents. FURTHER INFORMATION PAGE 168 You will be directed to the selected page. LETTER FROM THE CEO Annual Report 2017 HI. NIKLAS ÖSTBERG Chief Executive Officer/Co-Founder 4 LETTER FROM THE CEO Annual Report 2017 MY MOTIVATION DEAR SHAREHOLDERS, COLLEAGUES, AND READERS 2017 was an incredible year for us. We served 292 million orders and extended our global market leadership, SERVING while achieving revenue growth of 60%. These numbers are the result of many milestones, big and small. Below are some that stand out in particular. 292 MILLION ORDERS During the first months of last year we integrated foodpanda into the Delivery Hero Group. Their team and business assets are a great addition to the Group, strengthening our position in Asia and Middle East. We welcomed Carriage – a Kuwait-based, own-delivery focused company – to our business. Their team has surpassed even our high expectations and again proves our strength of supporting local founders and management teams to further build out our leadership, in this case across the MENA region. 5 Besides these organizational changes, we were happy to gain Naspers as a long-term shareholder and Supervisory Board member, who shares our ambitious vision of food ordering. We built on this in June with the initial public offering of Delivery Hero shares on the Frankfurt stock exchange, marking a milestone in our development process from start-up to world-leading organization. I am truly proud of what the team at Delivery Hero has built and am happy to see that many new shareholders have committed to our vision – leading to a strong trading start. For me personally, the IPO was more of a starting point than a goal achieved. We are now in a strong economic position to continue pursuing our vision of creating amazing takeaway experiences to give joyful moments for our customers. The strong focus on our customers’ experiences should of course also be reflected in our financial and operational results. We are proud to have: — increased revenues by 60%, — increased orders by 48% and gross merchandise volume (GMV) by 46%, — improved our adjusted EBITDA margin from –34% (2016) to –17% (2017) on a like-for-like basis. As rewarding as looking back to our achievements from 2017, at Delivery Hero our minds are focused on the future. As this is my first letter to shareholders, the below outlines how I envision Delivery Hero to develop over the coming years and some of the principles by which we operate, in order to allow you to better understand the company. LETTER FROM THE CEO Annual Report 2017 As the market for food ordering is maturing, shifting online and improving in service quality, there is still enormous potential for growth. Even in the more mature markets we operate, the combination of online shift and increased user frequency is going to continue drive our growth for many, many years to come. I see it as SIGNIFICANT paramount that we continue to invest in shaping this development and create the best possible experience for our customers. The main criteria by which we evaluate our success is our continued order and GMV growth, GROWTH increasing customer satisfaction, and being the preferred platform for food ordering – all of these are key OPPORTUNITY indicators we constantly obsess about as a company and management team. FOR MANY To achieve the above we continue to focus on four main pillars: YEARS TO COME Our organization: As the company grows, the responsibility to take good decisions rests on more and more people. It is of great importance for me that Delivery Hero is able to attract and retain the best people who 6 can stand up to this challenge. One important aspect of Delivery Hero are the many founders of our businesses across the world who have joined our Group and are excited to continue shaping it. We have built an environment where we foster this ownership mentality of local management teams while investing in building excellent central support structures to get the best of both worlds: world-class people close to our customers/ markets and world-class technology and services provided to them by our central team. On top of that, we are aware that there is more to our organization than business. We strongly believe that a company’s real test is whether it creates long-term value for all its stakeholders. Only then will it be able to generate sustainable profits for its shareholders. We must therefore apply the highest standards when making decisions and I look forward to presenting a more formalized approach to our corporate responsi- bility as Delivery Hero continues to grow. Our customers: The one thing we cannot forget as a company is to make sure that we stay close to our custo­ mers and markets. We have to care about every order, we should never leave a hungry customer unhappy. This is why one of the most important metrics to look at for me is our net promoter score (NPS), a measure of the share of customers who would recommend our service. Besides fulfilling these known expectations, we need to make sure we stay one step ahead. We need to experiment and make use of technology to create an ever-better service in ways neither our customers nor we anticipate today. Therefore, it is vital that we keep innovating even as the company matures. This requires us to make small bets occasionally and separate them from our daily operations. Once we prove the economic validity of such bets, we will double down on them and invest in order to build a leading business. One such example from the past LETTER FROM THE CEO Annual Report 2017 is the development of our own-delivery capabilities. We developed this as a separate business unit in a few of our markets and are now rolling out the technologies and processes in almost every market in order to be the provider with the leading restaurant selection everywhere. I’M CONFIDENT Our restaurant partners: Delivery Hero would be nothing without our partners who actually prepare THAT 2018 the food for our customers. We will continue to invest in making their lives easier and providing WILL BE A them with even more new business opportunities by partnering with us. Besides working more closely with our existing partners, we also believe there are many thousands of potential new partners out SUCCESSFUL there and we aim to connect them with our fast-growing customer base. We will invest in reaching out to new restaurants and building the strongest restaurant networks in all markets we operate in. YEAR Continuous fast growth: We believe that we need to build market-leading brands in order to be in a position to invest and create the best customer experiences. This requires continuous focus on all of 7 the minute details of our operations. As a former professional cross-country skier I’m used to training every day and to working hard to make incremental improvements in what I do – part of my job is to instill this spirit throughout the entire company. Of course, continuous fast growth also requires continued investment.

Load more

  172

Copy Link