| Delivery Hero SE (DE000A2E4K43) | |||
23,96 EURStand (close): 01.07.25 |
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| 05.06.25 10:25:39 | Delivery Hero and Glovo fined $375m for anti-competitive practices in EEA |  |
| The European Commission has imposed fines totalling €329m ($375m) on Germany-based Delivery Hero and Spanish company Glovo for engaging in anti-competitive practices within the European Economic Area (EEA). The decision marks the first instance of the commission penalising a cartel in the labour market. The fines reflect misuse of a minority shareholding to facilitate anti-competitive coordination. Delivery Hero and Glovo, Europe's two leading food delivery companies, are known for delivering restaurant-prepared meals, groceries and retail products. Both were found to have violated antitrust laws over a four-year period. In July 2024, the EU Commission began an investigation into the two companies for potential antitrust violations. The commission's investigation revealed that Delivery Hero and Glovo had agreements in place to avoid poaching each other's employees, to exchange commercially sensitive information, and to divide geographic markets between themselves. This collusion reduced consumer choice, limited employment opportunities and stifled the incentive to compete and innovate. Both companies admitted their involvement and agreed to settle, with Delivery Hero fined €223.285m and Glovo €105.732m. The fines were calculated based on the commission's 2006 guidelines on fines, taking into account the cartel's nature, geographic scope, duration and evolution. From July 2018, when Delivery Hero acquired a minority stake in Glovo, until July 2022 when it took sole control, the companies' competitive constraints were progressively eliminated. They entered into a non-poaching agreement, shared sensitive information and allocated markets to avoid competition, facilitated by Delivery Hero's stake in Glovo. The fines reflect the seriousness of the infringement, with a standard 10% reduction applied due to the companies' admission of liability, in accordance with the Commission's 2008 Settlement Notice. "Delivery Hero and Glovo fined $375m for anti-competitive practices in EEA" was originally created and published by Verdict Food Service, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. |
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| 23.04.25 04:48:16 | Delivery Hero to exit Thailand | |
| (Reuters) - Delivery Hero's Asia-based business foodpanda is to stop operating its platform in Thailand on May 23, the German food delivery firm said on Wednesday. "Delivery Hero will continue concentrating efforts in other parts of APAC where the Group sees greater return," the firm added. The company's regional team, which is based in Thailand, will continue operations as usual, the company said. (Reporting by Tristan Veyet in Gdansk, editing by Miranda Murray) View Comments |
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| 26.03.25 22:55:08 | Delivery Hero resumed with a Buy at Goldman Sachs |  |
| Goldman Sachs analyst Lisa Yang resumed coverage of Delivery Hero (DLVHF) with a Buy rating and EUR 39 price target t Competitive pressures have had a significant impact in South Korea and Hong Kong, and headline risks over the expansion of Keeta in MENA could continue to drive short-term volatility in the shares, but these are more than reflected in the stock’s valuation multiples, the analyst tells investors in a research note. Goldman sees an attractive risk/reward from here, with the balance sheet no longer a concern, and Delivery Hero continuing to demonstrate strong momentum across all its segments outside of Asia, the firm added. Light Up your Portfolio with Spark: Easily identify stocks' risks and opportunities. Discover stocks' market position with detailed competitor analyses. Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>> See the top stocks recommended by analysts >> Read More on DLVHF: Disclaimer & DisclosureReport an Issue Buy Rating for Delivery Hero SE: Positive Financial Outlook Boosted by $250 Million Termination Fee from Uber Uber ends acquisition agreement of Delivery Hero’s Taiwan foodpanda business Strong Market Position and Financial Performance Justify Buy Rating for Delivery Hero SE Delivery Hero SE Faces Competitive Pressure and Financial Challenges in MENA Region Amid Keeta’s Aggressive Market Entry Delivery Hero downgraded to Sell from Neutral at Citi View Comments |
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| 13.03.25 10:00:03 | Deep-Pocketed Meituan Looks to Build on Its Hong Kong Victory | |
| (Bloomberg) -- Simon Miao, a Hong Kong resident, signed up for a food-delivery subscription with Deliveroo during the pandemic, but he later canceled it because the monthly fee, which tops out at HK$98 ($12.61), didn’t bring many perks. Most Read from Bloomberg Trump DEI Purge Hits Affordable Housing Groups Electric Construction Equipment Promises a Quiet Revolution NYC Congestion Pricing Toll Gains Support Among City Residents Open Philanthropy Launches $120 Million Fund To Support YIMBY Reforms Prospect Medical’s Pennsylvania Hospitals at Risk of Closure Now he’s hooked on a rival service called Keeta from the Chinese delivery giant Meituan. It offered broader restaurant options, generous discounts and free delivery when the platform was first launched. He said he won’t use anything else. This week, Deliveroo said it was losing too much money in Hong Kong and called it quits after a decade of operating in the city. The retreat marks the first casualty of Keeta’s aggressive pricing tactics, subsidized by parent Meituan, which has a market value of about $130 billion. As the Chinese super app expands further afield, it’s deploying similar tactics in other new markets. The company launched in Saudi Arabia last September and has been attacking the market through similar measures. It reached one million weekly active users in January, according to Sensor Tower data, matching Delivery Hero’s Hungerstation. Keeta Drones, a subsidiary of Meituan, received an operation license in the United Arab Emirates late last year, and the Chinese company’s ambition goes far beyond the two largest economies in the Gulf. According to Chinese media outlet LatePost, Keeta plans to expand to Qatar, Kuwait, Oman and Bahrain in the next three years. The company plans to build its overseas presence into a hundred-billion dollar business, the news site said, citing people familiar with the plans who it didn’t name. To vie for market share in Saudi Arabia, the company has set no upper limit on investment. A representative for Meituan declined to comment. Meituan, founded in 2010, initially built a business model with discount offerings like Groupon. In 2013, the company expanded into food delivery, and has since grown into the largest player anywhere. It clocked a gross transaction value of €136 billion ($148 billion) last year, almost double that of Uber Eats’s (€71 billion) and Doordash’s (€74 billion), according to a Bloomberg Intelligence report. Keeta’s ambition points to a wider woe in the food delivery industry: after years of growth-at-all-cost expansion during the Covid-19 pandemic, fueled by cheap interest rates, investors are asking companies to turn a profit. But price wars spurred on by rivals with deeper pockets has made it difficult for smaller players to fight back. Last month, after years of sluggish sales, Just Eat Takeaway.com NV struck a deal to sell itself to Prosus NV for €4.1 billion. Story Continues The rapid rise of Keeta puts Delivery Hero — the German food delivery company that competes with the Chinese app in both Hong Kong and Saudi Arabia — in a precarious position after achieving positive free cash flow for the first time in late 2023. Foodpanda, Delivery Hero’s subsidiary in Hong Kong, had dominated the market for years. But shortly after Keeta arrived, it swiftly became the largest player by gross sales volume in both food and grocery delivery in the second half of 2024, according to Measurable AI, an analytics firm that tracks receipts. Keeta’s price war went beyond coupons and cheap delivery, it also went after the riders. Ellery Li, a graduate student in Hong Kong, said in an interview with Bloomberg that he signed up to deliver food part time because a courier could receive as much as HK$50 per order, a much more lucrative salary than on other platforms. “Meituan’s Chinese base can easily continue to finance the expansion of international unit Keeta over the coming years,” Clément Genelot, an analyst at Bryan Garnier said. Niklas Östberg, the chief executive officer of Delivery Hero, told Bloomberg in an recent interview that the initial public offering of Talabat, its Middle East subsidiary which created a $2 billion cash windfall, would put the company in a stronger position to “not be taken advantage of” by its competitors. “You can face off Meituan without finding a bigger parent company as long as you’re profitable and cash-generative,” Genelot said. That “is the case of Delivery Hero in the Middle East.” The rise of Keeta outside of China has echoes of Temu, the Chinese e-commerce site which sells £1 milk frother and £5 wireless headphones. Temu, also heavily subsidized by its parent company PDD Holdings Inc., a $160 billion online retail giant, has been a destructive force in Europe and the US. The Chinese platform spent aggressively on subsidies and advertising when it first landed, including millions of dollars on Super Bowl commercials. It soon became one of the world’s largest online discount stores, taking on market share from existing giants Amazon and Walmart, and eBay. --With assistance from Claire Che, Omar El Chmouri and Felix Tam. Most Read from Bloomberg Businessweek How America Got Hooked on H Mart How Trump’s ‘No Tax on Tips’ Could Backfire for the Working Class How Natural Gas Became America’s Most Important Export Disney’s Parks Chief Sees Fortnite as Key to Its Future Germany Is Suffering an Identity Crisis 80 Years in the Making ©2025 Bloomberg L.P. View Comments |
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| 12.03.25 18:57:09 | Uber Terminates Deal for Delivery Hero's Foodpanda Business in Taiwan | |
| Uber Technologies (UBER) has terminated its proposed $950 million deal to acquire Delivery Hero's Fo PREMIUM Upgrade to read this MT Newswires article and get so much more. A Silver or Gold subscription plan is required to access premium news articles. Upgrade Already have a subscription? Sign in |
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| 12.03.25 10:54:05 | Uber Terminates Deal to Buy Delivery Hero’s Taiwan Business | |
| (Bloomberg) -- Uber Technologies Inc. has terminated its deal to acquire Delivery Hero SE’s Foodpanda business in Taiwan, after the island’s antitrust regulator rejected it in December. Most Read from Bloomberg Trump DEI Purge Hits Affordable Housing Groups NYC Congestion Pricing Toll Gains Support Among City Residents Electric Construction Equipment Promises a Quiet Revolution Open Philanthropy Launches $120 Million Fund To Support YIMBY Reforms Where New York City's Zoning Reform Will Add Housing Uber is required to pay a termination fee that is estimated to be about $250 million, Delivery Hero said in a statement Tuesday. In a separate statement to Bloomberg News, an Uber spokesperson reiterated the company’s disappointment about the regulator’s ruling, but said it respects the decision and will not be pursuing an appeal. Delivery Hero shares fell as much as 5.7% on Wednesday in Frankfurt. Shares of Uber fell 3.3% on Tuesday. “We remain committed to Taiwan and will continue to serve consumers, merchants and delivery partners there in innovative and competitive ways,” the spokesman said. Uber had aimed to complete the all-cash deal, valued at $950 million, by the first half of 2025. The acquisition would have been one of Taiwan’s largest outside of the chip industry, marking a retreat for Delivery Hero from Asia. Delivery Hero said in the statement that Taiwan remains a key part of its long-term strategy. The online delivery industry has seen further consolidation globally as demand has failed to return to pandemic-era growth. London-based Deliveroo Plc announced on Monday it was closing its Hong Kong business after weak sales and mounting competition from Foodpanda and Keeta, a subsidiary of Chinese food delivery giant Meituan. In February, Prosus NV agreed to acquire Just Eat Takeaway.com for €4.1 billion ($4.5 billion), just months after Wonder Group Inc. bought Chicago-based Grubhub from Just Eat. (Updates with shares in the third paragraph.) Most Read from Bloomberg Businessweek How America Got Hooked on H Mart How Natural Gas Became America’s Most Important Export Disney’s Parks Chief Sees Fortnite as Key to Its Future Germany Is Suffering an Identity Crisis 80 Years in the Making The Mysterious Billionaire Behind the World’s Most Popular Vapes ©2025 Bloomberg L.P. View Comments |
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| 11.03.25 19:15:27 | Uber terminates Foodpanda Taiwan acquisition, to pay about $250 million termination fee | |
| (Reuters) - Uber has decided to terminate its agreement to acquire Delivery Hero's Foodpanda business in Taiwan and will pay a termination fee of around $250 million, the food delivery company said on Tuesday. Uber said in an emailed statement that it would not appeal the decision of the Taiwan Fair Trade Commission. Taiwan had in December blocked Uber's $950 million purchase of Delivery Hero's Foodpanda business on the island because of concerns it would be anti-competitive. Taiwan's Fair Trade Commission said in December that the buyout of Uber's main rival, Foodpanda, would increase their combined market share to 90% on the island and could incentivize Uber to raise prices in the market. In May 2024, Uber and Delivery Hero announced the Taiwan deal, which included a separate agreement for Uber to purchase $300 million worth of newly issued shares of the German food delivery firm. Delivery Hero told Reuters that the termination of the Taiwan acquisition does not affect the share purchase agreement. Food delivery platforms in Asia have largely rebounded from a post-pandemic slowdown, but the companies are grappling with intense competition and thin margins as they spend heavily on discounts to retain cost-conscious customers. (This story has been corrected to say that Taiwan blocked the deal in December, not February, in paragraph 3) (Reporting by Chandni Shah, Pretish M J, Jaspreet Singh and Rajveer Singh Pardesi in Bengaluru; Editing by Alan Barona) View Comments |
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| 13.02.25 11:03:38 | Delivery Hero shares rise on better-than-anticipated fourth-quarter growth | |
| Investing.com - Delivery Hero (ETR:DHER) posted better-than-anticipated fourth-quarter growth in gross merchandise value, fueled in part by strength at its grocery and warehouse delivery business and bigger basket sizes. Shares in the group, which have slumped sharply from a high notched in 2021 due to normalizing post-pandemic demand, jumped by more than 6% in early European trading on Thursday. Gross merchandise value -- a metric tracking the total value of transactions -- increased by 8.2% versus the year-ago period to 12.81 billion euros thanks to strong order demand and expanding basket sizes on the platform. Analysts had anticipated 12.31 billion euros, according to a company-provided poll. Total segment revenue growth also came in at 23% year-over-year, due to more sales at the German firm's Dmarts grocery and warehouse delivery unit, more platform monetization and a push to augment its advertising technology offering. Full-year adjusted earnings before interest, taxes, depreciation and amortization was about 750 million euros. Analysts at Barclays (LON:BARC) had been anticipating a figure in the low-end of Delivery Hero's prior guidance range of 725 million euros to 775 million euros. For the 2025 fiscal year, Delivery Hero sees gross merchandise value rising by 8% to 10% annually, and adjusted core income of 975 million euros to 1.025 billion euros. "Overall decent [results] in [the] context of recent share price performance," the Barclays analysts said in a note to clients. Delivery Hero noted that its operations in Saudi Arabia in particular generated solid gross merchandise value (GMV) growth and enhanced its profitability during the quarter. The Barclays analysts called this development "reassuring," adding that its market share is holding up against other rivals in the country. Quarterly GMV from the Middle East and Northern Africa region, its second-largest market, came in at 3.7 billion euros. Using funds raised from the initial public offering in Dubai of its Talabat subsidiary, Delivery Hero added that it plans to repurchase roughly 1 billion euros of convertible bonds. Analysts at Morgan Stanley (NYSE:MS) flagged that Talabat's strong quarterly returns, which were released earlier on Thursday, also helped drive Delivery Hero's earnings. Related Articles Delivery Hero shares rise on better-than-anticipated fourth-quarter growth ADNOC Drilling stock falls despite strong Q4 results Google says it forms AI partnership with Poland View Comments |
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| 10.02.25 05:00:00 | Delivery Hero, Finally Profitable, Takes On Larger Asian Rivals | |
| (Bloomberg) -- Germany’s Delivery Hero spent years inching toward profitability, a rare feat in an industry with razor-thin margins. Now it has to keep those profits in the face of grueling price wars with bigger rivals. Most Read from Bloomberg Nice Airport, If You Can Get to It: No Subway, No Highway, No Bridge Sin puente y sin metro: el nuevo aeropuerto de Lima es una debacle The Forgotten French Architect Who Rebuilt Marseille In New Orleans, an Aging Dome Tries to Stay Super How London’s Taxi Drivers Navigate the City Without GPS To do so, chief executive Niklas Östberg is focusing on key markets in the Middle East and Asia, while trying to shed costs and units at a company spanning more than 70 countries. “I think the first step is to make sure that we have a strong balance sheet,” Östberg said in an interview in Berlin on January 28th. “Scale is important, but now we’re probably more focused on cost efficiency.” His efficiency drive has had mixed results. Delivery Hero, which formed in 2011, achieved a positive free cash flow for the first time in late 2023. It reached a detente last year with an activist investor, who had called for Östberg to step down. The company bounced back, improving its share price. Last December, the firm listed its Middle Eastern unit, Talabat, in Dubai, bringing in $2 billion in proceeds. But a consolidation effort has hit snags. Taiwanese authorities blocked Östberg’s attempt to sell a local subsidiary. In the Middle East, Delivery Hero is seeing increased competition from Chinese delivery giant Meituan, which recently expanded in the region. In Asia, Delivery Hero’s largest region by sales, Meituan and other services are cutting prices relentlessly. Delivery Hero is facing a dilemma endemic to the cutthroat industry. Raising prices risks sending customers elsewhere, but out pacing rivals requires costly subsidies that make profits virtually impossible. Östberg, who has expanded his company globally, buying more than 30 businesses from Latin America to Africa, must now pick a priority. And he’s standing off against larger, aggressive competitors in three markets — the United Arab Emirates, Saudi Arabia and South Korea — that make up about 41% of Delivery Hero sales, according to Bloomberg Intelligence. While his company remains the largest delivery operator in Europe, it is dwarfed by competitors in Asia and the US. It hasn’t helped that shares are down more than 80% from highs in early 2021, when the pandemic made delivery apps a booming business. “Delivery Hero has delivered on many of its promises, but it is the unexpected challenges that set them back,” said Annick Maas, an analyst with Bernstein. “Today, the focus should be on building trust with investors.” Story Continues Fighting Back Talabat is Delivery Hero’s crown jewel — the unit had $5.3 billion in overall sales for the first three quarters of 2024. Östberg said he plans to use proceeds from its initial public offering to pay off some of the $3.8 billion in convertible bonds Delivery Hero holds, and believes Talabat has massive growth potential. But the Gulf region has also attracted the attention of Meituan. Its local app, Keeta, reached one million weekly users last month, matching Delivery Hero’s regional offering, according to data analyst Sensor Tower. Keeta is also growing in Hong Kong, another major delivery market. Last year, Keeta overtook Foodpanda, Delivery Hero’s local unit, in overall sales, according to Measurable AI, a consumer research firm. Britain’s Deliveroo Plc, which the research firm ranks as the city’s third largest provider, recently ruled out providing “endless promotions” there. For now, Delivery Hero is focusing investments in Asia on South Korea, one of its largest markets. Its rival there, Coupang Inc., has introduced free deliveries in the country with its Coupang Eats app. To respond, Östberg reinvested around €100 million ($104 million) into its South Korean operations. He said the unit is profitable. “Of course, Coupang is a very good competitor, and we don’t take them lightly,” he added. Robots, Eventually In other parts of Asia, Delivery Hero is in retreat. A plan to sell Foodpanda’s operations in Taiwan to Uber Technologies Inc. for $950 million was opposed by Taiwanese regulators. Östberg declined to comment on the situation. Delivery Hero has tried to sell other assets in Southeast Asia, where regional provider Grab Holdings Ltd. has grown rapidly. “We are not here to build businesses to sell,” Östberg said. But he acknowledged that he takes offers to shareholders if the price is right. The company, which reports its fourth quarter results this week, has told investors it will reach the “lower end” of projections for adjusted earnings before interest, taxes, depreciation and amortization in 2024, a range of €725 million to €775 million. To boost profits, the executive is looking to automation. The company has used robots to delivery items in South Korea and is testing drones in Norway. Eventually, Östberg believes that a quarter of all its deliveries will come via robots of some sort. While the company mostly handles food today, the CEO imagines delivering many items within a mile radius of customers, like clothes or flowers. He didn’t provide a timeline for more robot deliveries or the new categories. For now, he will have to focus on beating the competition. “When the teams are doing great, it’s very enjoyable,” he said. “When the results are not there, well, I guess it’s also fun to fight back.” Most Read from Bloomberg Businessweek Trump’s Tariffs Make Currency Trading Cool Again After Years of Decline Front-Loading Tariffs Undercuts Trump’s Promise of Faster Growth The Reason Why This Super Bowl Has So Many Conspiracy Theories Believing in Aliens Derailed This Internet Pioneer’s Career. Now He’s Facing Prison Orange Juice Makers Are Desperate for a Comeback ©2025 Bloomberg L.P. View Comments |
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| 29.12.24 08:30:56 | Delivery Hero SE's (ETR:DHER) Path To Profitability | |
| With the business potentially at an important milestone, we thought we'd take a closer look at Delivery Hero SE's (ETR:DHER) future prospects. Delivery Hero SE offers online food ordering and delivery services. With the latest financial year loss of €2.3b and a trailing-twelve-month loss of €2.2b, the €7.8b market-cap company alleviated its loss by moving closer towards its target of breakeven. Many investors are wondering about the rate at which Delivery Hero will turn a profit, with the big question being “when will the company breakeven?” We've put together a brief outline of industry analyst expectations for the company, its year of breakeven and its implied growth rate. Check out our latest analysis for Delivery Hero Consensus from 18 of the German Hospitality analysts is that Delivery Hero is on the verge of breakeven. They anticipate the company to incur a final loss in 2025, before generating positive profits of €48m in 2026. So, the company is predicted to breakeven approximately 2 years from now. In order to meet this breakeven date, we calculated the rate at which the company must grow year-on-year. It turns out an average annual growth rate of 109% is expected, which is rather optimistic! Should the business grow at a slower rate, it will become profitable at a later date than expected.XTRA:DHER Earnings Per Share Growth December 29th 2024 Given this is a high-level overview, we won’t go into details of Delivery Hero's upcoming projects, but, bear in mind that generally a high forecast growth rate is not unusual for a company that is currently undergoing an investment period. Before we wrap up, there’s one issue worth mentioning. Delivery Hero currently has a debt-to-equity ratio of over 2x. Typically, debt shouldn’t exceed 40% of your equity, which in this case, the company has significantly overshot. A higher level of debt requires more stringent capital management which increases the risk around investing in the loss-making company. Next Steps: There are key fundamentals of Delivery Hero which are not covered in this article, but we must stress again that this is merely a basic overview. For a more comprehensive look at Delivery Hero, take a look at Delivery Hero's company page on Simply Wall St. We've also compiled a list of key aspects you should further research: Valuation: What is Delivery Hero worth today? Has the future growth potential already been factored into the price? The intrinsic value infographic in our free research report helps visualize whether Delivery Hero is currently mispriced by the market. Management Team: An experienced management team on the helm increases our confidence in the business – take a look at who sits on Delivery Hero’s board and the CEO’s background. Other High-Performing Stocks: Are there other stocks that provide better prospects with proven track records? Explore our free list of these great stocks here. Have feedback on this article? Concerned about the content?Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com. This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. View Comments |
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