Company Presentation. H1 13 September Delivery Hero SE. Company Presentation.

Transcription

1 Company Presentation H1 13 September 1

2 Our Clear Vision AMAZING FOOD Create an amazing takeaway experience AMAZING ORDERING AMAZING SERVICE 2

3 We Are an Online Food Ordering and Delivery Marketplace USER Order 2 3 Receive RESTAURANT 4 Cook 1 Search Customer Order Received (TBU) Eat 6 Customer Order Received (TBU) Deliver 5 RESTAURANT DRIVER 3

4 Delivery Hero in at a Glance: Best-in-class Performance and Global Leadership 3.8bn Gross Merchandise Value in 292m Orders in +65% 1 Revenue Growth > 70bn 2 Current Food Delivery Market Taking on > 500bn 2 Food Services Opportunity Already Reaching 2.7bn People 3 Present in 39 Countries 4 Source: Company information; Euromonitor; World Bank; United Nations Notes: 1. On a constant currency basis. 60% on a reported basis. 2. Management estimates. 3. Source: Euromonitor International; Economies and Consumers; data as of Excluding foodora own-delivery only countries (Canada, Norway) as well as Costa Rica and Paraguay. 4

5 DELIVERY HERO HIGHLIGHTS Large Market Opportunity Highly Attractive Markets Very Strong Business Fundamentals Leadership in Innovation and Technology Global Category Leadership Multiple Drivers for Long-term Growth 5

6 1 Unlocking the Large and Underpenetrated Food Market Mega Trends That Drive Additional Growth Total Food Market 7.5tn 2 Online & Mobile Engagement Food Services in Delivery Hero s Countries > 500bn 1 Opportunity On-demand & Last-mile Logistics Takeaway Market in Delivery Hero s Countries > 70bn 1 Life-style, Urbanization & Convenience Delivery Hero GMV 3.8bn in Source: Company information; Euromonitor Notes: 1. Management estimates. 2. Source: Euromonitor International; Economies and Consumers; Global Food Market represents Consumer Expenditure on Food and Catering, value at fixed 2016 exchange rates; data as of

7 2 Our Customers Consistently Increasing Order Frequency Across our Highly Attractive Markets INCREASING # OF ORDERS Average Monthly Orders per Active Customer Over Time +95% +32% +40% +33% +27% +19% MENA excl. Turkey Turkey Asia Americas Europe excl. Nordics Nordics Month 1 Month 47 Month 1 Month 47 Month 1 Month 47 Month 1 Month 47 Month 1 Month 47 Month 1 Month 47 High and increasing order frequency across highly attractive markets over time Source: Company information Note: Example: Cohort (March 2013) is shown; Month 1 refers to April

8 3 Highly Predictable Customer Behaviour With Accelerating Growth MAJORITY OF ORDERS FROM RETURNING CUSTOMERS Total Orders per Cohort per Year +31% Orders From Cohort Increasing First-time Customerbase Customer Experience driving our retention and frequency Returning customers continue to order more frequently Orders From 2016 Cohort Customer acquisitions continue to grow v Orders From 2015 Cohort +29% High Returning Customerbase Word of mouth and referrals continue to be a major driver of new customers We expect frequency to continue to increase Source: Company information Note: 1. Cohort refers to customers grouped by the calendar year in which they first placed an order with Delivery Hero. 8

9 4 Leadership in Innovation and Technology PERSONALIZATION SEARCH & DISCOVERY RESTAURANT PARTNER SOLUTIONS LOGISTICS SERVICES PLATFORM DESCRIPTION DESCRIPTION DESCRIPTION DESCRIPTION Discovery based on inspirational content and next generation browsing experience Personalisation based on consumer preferences and machine learning Recommendation to customers with targeted messages and tailored product experience Our goal is for the customer to ultimately outsource its food decision to us Restaurant-facing technology to deepen our relationship with our restaurant partners Tools for restaurants: Order transmission Order processing Partner integration Order tracking Restaurants performance reports Business Intelligence to enable better product and operational decisions Improvements in logistics efficiency (e.g. delivery rider scheduling, fleet management, etc.) via central services, enabling to cut delivery fee Our technology provides smart and efficient delivery processes: Rider scheduling Rider staffing Fleet management Route Optimization Real-time delivery estimates Localisation challenge solved with: Central services: Personalization and Search & Discovery Restaurant Partner Solutions Logistics Services Data warehouse & Analytics Performance Marketing Restaurant CRM (Salesforce) Finance systems Customer reviews Regional platforms: Cultural specifics Address systems Integrated payment systems 9

10 5 We Are One of the Global Leaders in Online Food Delivery with Significant Reach, Scale and Growth EUROPE MENA 13 COUNTRIES 189m TOTAL POPULATION 72% URBAN POPULATION 9 COUNTRIES 239m TOTAL POPULATION 65% URBAN POPULATION AUSTRIA / BOSNIA AND HERZEGOVINA / BULGARIA / CROATIA / CZECH REPUBLIC / FINLAND / GERMANY / GREECE / HUNGARY / MONTENEGRO / ROMANIA / SERBIA / SWEDEN AMERICAS BAHRAIN / JORDAN / EGYPT / KUWAIT / OMAN / QATAR / SAUDI ARABIA / UAE / TURKEY ASIA 7 COUNTRIES 374m TOTAL POPULATION 84% URBAN POPULATION 10 COUNTRIES 624m TOTAL POPULATION 47% URBAN POPULATION ARGENTINA / CHILE / COLOMBIA / ECUADOR / PANAMA / PERU / URUGUAY BANGLADESH / BRUNEI / HONG KONG / MALASIA / PAKISTAN / PHIILIPINES / SOUTH KOREA / SINGAPORE / TAIWANT / THAILAND Source: World Development Indicators, ; rounded figures Notes: 1. Excluding foodora own-delivery only countries (Canada, Norway) as well as Costa Rica and Paraguay. 10

11 Multiple Drivers 6 for Long-term Growth and Profitability Ongoing Industry Consolidation 72bn Takeaway Market Going Online 1 Taking on 7.5tn Food Market Opportunity 2 Increased Frequency Through Better Experience Take-rate Expansion with Best Marketplace Markets Already +18% TAKE-RATE IMPROVEMENT Above 50% EBITDA Margin in Best Markets MARGIN EXPANSION M&A FOR SCALE FOOD MARKET TRANSFORMATION ONLINE TRANSITION TECHNOLOGY & INNOVATION Source: Company information; management estimates; Euromonitor Notes: 1. Based on our IPO disclosure. 2. Source: Euromonitor International; Economies and Consumers; Global Food Market represents Consumer Expenditure on Food and Catering, value at fixed 2016 exchange rates; data as of

12 BUSINESS MODEL & FINANCIALS 12

13 INCREASING INCREASING Our Business Model Is Designed for Multiyear Revenue Growth Orders Average Basket Size GMV Take-rate Revenue Recurring high quality cohorts combined with strong new customer growth and increasing frequency Take-rate expansion driven by market maturity and own delivery 13

14 Growing Take-rates With Significant Long-term Upside Potential REGIONAL TAKE-RATES 1 SEGMENT REVENUE H1 BY SOURCE 2 Europe Asia 17.0% 14.2% 17.4% 17.1% 16.3% 16.0% 15,40% 14.6% 14.1% 13.9% Prime Placings 7% Credit card use 4% Other 5% Group 13.2% 12.5% Delivery Fees 11% Americas 10.3% 10.4% MENA 9.2% 2016 Commissions 73% Source: Company information Notes: 1. For the like-for-like definition, please refer to the Definitions slide. 2. Total segment revenues. 14

15 Continuous Track Record of Quarterly Growth Orders GMV Revenues % +48% +60% Q3 Q4 Q3 Q4 Q3 Q4 Q3 Q4 Q3 Q4 Q3 Q Growth rates are on a constant currency basis Like-for-like, please refer to the Definitions slide All values in Unit million / million 15

16 H1 Financial Highlights 184m ORDERS 2.4bn GROSS MERCHANDISE VALUE 357m REVENUES +46% Y-o-Y Growth 1 +50% Y-o-Y Growth 1 +60% Y-o-Y Growth 1 1. Like-for-like, please refer to the Definitions slide and on a constant currency basis. 16

17 Growth across all Segments Europe MENA Asia Americas Average Order Value Average Order Value Average Order Value Average Order Value Orders % % % % 9 +74% GMV 1, % % % Revenue 1, % +130% % % 16 Source: Company information Notes: 1. Absolute Numbers for the like-for-like definition, please refer to the Definitions slide 2. Growth rates on a constant currency basis 17

18 Increasing Share of Revenues from MENA, Asia and Americas REVENUE SHARE PER SEGMENT 1 REVENUE SHARE PER SEGMENT Americas 9% Americas 8% Asia 28% Europe 38% Asia 25% Europe 31% MENA 25% MENA 36% Source: Company information Notes: 1. For the like-for-like definition, please refer to the Definitions slide. 18

19 Strong Revenue Growth and Improving Adj. EBITDA Margins REVENUE ( m, aggregated) 1 ADJ. EBITDA 2 ( m, aggregated) Europe MENA Asia Americas H1 H1 +48% +60% Constant Currency Basis ADJ. EBITDA MARGIN 2 (%, aggregated) Group -17% -15% Europe -27% -24% MENA 25% 7% H1 H1 Europe MENA Asia Americas Asia -31% -20% Americas -51% -61% Source: Company information Notes: 1. Total segment revenues. 2. Including Indian operations. 19

20 DELIVERY HERO SUMMARY v Substantial Market Opportunity Long-term Take-rate Upside v v v v v Highly Attractive Regions Leader in Product and Technology More Leadership Positions Best-in-Class Delivery Operations 20

21 APPENDIX 21

22 Orders 1 : Quarterly Y-o-Y Growth Europe +30% +27% +27% +23% +29%+33% MENA +57% +60% +60% % % +60% Q3 Q4 Q3 Q4 Asia Americas +58% +53% +57% +54% +63% +61% Q3 Q4 +31% +42%+39%+36% +34% +49% Q3 Q4 Source: Company information Notes: 1. Absolute Numbers for the like-for-like definition, please refer to the Definitions slide 22

23 GMV 1 : Quarterly Y-o-Y Growth Europe +28% 2 +22% 2 +27% +28% +21% +24% +30%+34% % 2 +77% 2 MENA +53% +52% +51% % % +59% Q3 Q4 Q3 Q4 Asia +44% 2 +51% 2 +38% +47% +40% +67% +40% % Americas +73% +48%+42% +91% % 2 +46% 2 +21% +14% Q3 Q4 Q3 Q4 Source: Company information Notes: 1. Absolute Numbers for the like-for-like definition, please refer to the Definitions slide 2. Growth rates on a constant currency basis 23

24 Revenue 1 : Quarterly Y-o-Y Growth +130% 2 Europe +25% 2 +20% % 2 MENA +104% +25% +19% +28% +38% +33% +46% % +87% % % % Q3 Q4 Q3 Q4 Asia +47% 2 +53% 2 +41% +55% +42% %+48% +101% Americas +69% 2 +73% % +80% +67% +41% +34% +131% Q3 Q4 Q3 Q4 Source: Company information Notes: 1. Absolute Numbers for the like-for-like definition, please refer to the Definitions slide 2. Growth rates on a constant currency basis 24

25 Financial Calendar Date Event Nov 7, Q3/9M Trading Update 25

26 Definitions Like-for-like figures include foodpanda and exclude the results of our disposed operations in the United Kingdom and India. The results of smaller acquisitions and disposals are not adjusted for. In addition, please note that: No adjustments have been made for HungerStation (first fully consolidated in July 2016). Asia KPIs exclude our former operations in China, which were sold in May All like-for-like numbers are excluding Indian operations, with for full year : Orders: 11.6 million. GMV: EUR 57.5 million. Revenues: EUR 9.9 million. Gross Merchandise Value (GMV) is the total value of orders (including VAT) transmitted to restaurants. Revenues presented for Delivery Hero represent the total segment revenues. Adjusted (Adj.) EBITDA represents earnings before interest, taxes, depreciation and amortization adjusted for extraordinary expenses related to transactions and financings, our planned IPO, restructuring expenses and expenses related to major IT projects and for expenses for share-based payments. Adjusted (Adj.) EBITDA Margin refers to adjusted EBITDA divided by revenues. 26

27 Important Notice ALL FINANCIAL FIGURES INCLUDED IN THE FOLLOWING PRESENTATION ARE BASED ON IFRS, UNLESS NOTED OTHERWISE. For the purposes of this notice, presentation means this document, its contents or any part of it. This presentation does not, and is not intended to, constitute or form part of, and should not be construed as, an offer to sell, or a solicitation of an offer to purchase, subscribe for or otherwise acquire, any part of it form the basis of or be relied upon in connection with or act as any inducement to enter into any contract or commitment or investment decision whatsoever. This presentation is neither an advertisement nor a prospectus and should not be relied upon in making any investment decision to purchase, subscribe for or otherwise acquire any securities. The information and opinions contained in this presentation are provided as at the date of this presentation, are subject to change without notice and do not purport to contain all information that may be required to evaluate Delivery Hero SE. Delivery Hero SE undertakes no obligation to update or revise this presentation. No reliance may or should be placed for any purpose whatsoever on the information contained in this presentation, or any other information discussed verbally, or on its completeness, accuracy or fairness. The information in this presentation is of preliminary and abbreviated nature and may be subject to updating, revision and amendment, and such information may change materially. Neither Delivery Hero SE nor any of its directors, officers, employees, agents or affiliates undertakes or is under any duty to update this presentation or to correct any inaccuracies in any such information which may become apparent or to provide any additional information. The presentation and discussion contain forward looking statements, other estimates, opinions and projections with respect to anticipated future performance of Delivery Hero SE ( Forward-looking Statements ). These Forward-looking Statements can be identified by the use of forwardlooking terminology, including the terms believes, estimates, anticipates, expects, intends, aims, plans, predicts, may, will or should or, in each case, their negative, or other variations or comparable terminology. These Forward-looking Statements include all matters that are not historical facts. They appear in a number of places throughout this presentation and include statements regarding Delivery Hero SE s intentions, beliefs or current expectations concerning, among other things, Delivery Hero SE s prospects, growth, strategies, the industry in which it operates and potential or ongoing acquisitions. By their nature, Forward-looking Statements involve significant risks and uncertainties, because they relate to events and depend on circumstances that may or may not occur in the future. Forward-looking Statements should not be read as guarantees of future performance or results and will not necessarily be accurate indications of whether or not such results will be achieved. Similarly, past performance should not be taken as an indication of future results, and nor representation or warranty, express or implied, is made regarding future performance. The development of Delivery Hero SE s prospects, growth, strategies, the industry in which it operates, and the effect of acquisitions on Delivery Hero SE may differ materially from those made in or suggested by the Forward-looking Statements contained in this presentation or past performance. In addition, even if the development of Delivery Hero SE s prospects, growth, strategies and the industry in which it operates are consistent with the Forward-looking Statements contained in this presentation or past performance, those developments may not be indicative of Delivery Hero SE s results, liquidity or financial position or of results or developments in subsequent periods not covered by this presentation. Any Forward-Looking Statements only speak as at the date of this presentation is provided to the recipient and it is up to the recipient to make its own assessment of the validity of any Forward-looking Statements and assumptions. No liability whatsoever is accepted by Delivery Hero SE in respect of the achievement of such Forward-looking Statements and assumptions. 27