Buy Or Sell Opportunity • May 30
Now 33% undervalued after recent price drop Over the last 90 days, the stock has fallen 48% to €10.05. The fair value is estimated to be €14.89, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 17% over the last 3 years. Earnings per share has grown by 52%. Revenue is forecast to grow by 23% in 2 years. Earnings are forecast to grow by 96% in the next 2 years. New Risk • May 30
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of British stocks, typically moving 23% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. This is currently the only risk that has been identified for the company. Ankündigung • May 25
Uber Technologies, Inc. (NYSE:UBER) proposed to acquire remaining 80.5% stake in Delivery Hero SE (XTRA:DHER) for €8.2 billion. Uber Technologies, Inc. (NYSE:UBER) proposed to acquire remaining 80.5% stake in Delivery Hero SE (XTRA:DHER) for €8.2 billion on May 23, 2026. A cash consideration valued at €33 per share will be paid by Uber Technologies, Inc. Ankündigung • May 15
Delivery Hero SE Reportedly Seeks to Sell Woowa Brothers Corp Delivery Hero SE (XTRA:DHER) is seeking to sell Woowa Brothers Corp., the operator of South Korea’s largest food delivery app Baedal Minjok, or Baemin, industry sources said on 14 May 2026. Delivery Hero has appointed JPMorgan Chase & Co. as the sales adviser for Woowa Brothers and recently distributed teaser materials to major domestic and overseas strategic investors, and private equity firms, including Korean portal operator Naver Corp., sources familiar with the matter said. The German company is said to be seeking around USD 5.37 billion for the sale. Delivery Hero acquired an 87% stake in Woowa Brothers for about USD 4 billion in 2019. “We are conducting a comprehensive strategic review of our portfolio, asset allocation and overall cost structure,” a Delivery Hero official told Yonhap News Agency by phone. Ankündigung • May 14
Delivery Hero SE, Annual General Meeting, Jun 23, 2026 Delivery Hero SE, Annual General Meeting, Jun 23, 2026, at 10:00 W. Europe Standard Time. Breakeven Date Change • May 03
Forecast to breakeven in 2028 The 17 analysts covering Delivery Hero expect the company to break even for the first time. New consensus forecast suggests the company will make a profit of €351.1m in 2028. Average annual earnings growth of 94% is required to achieve expected profit on schedule. Ankündigung • Apr 26
Delivery Hero Unveils Herogen Autonomous Ai Agent Delivery Hero unveiled Herogen, an advanced autonomous software delivery agent that was first introduced to the company’s product and engineering teams in February. Built in-house on industry-leading Large Language Models (LLMs), Herogen delivers an annual coding output equivalent to 130 senior engineers already, and its capacity is expanding rapidly. While previous generations of AI coding assistants required constant manual oversight and revisions, Herogen operates autonomously. Delivery Hero’s product and engineering teams assign tasks in natural language and Herogen then writes, tests, and iterates on the code, before submitting the result as a proposal. A council of agents – built on a number of leading LLMs from different providers – reviews the code from various perspectives before a human does a final check. Using multiple models reduces the chance that blind spots in any single model's training data slip through. Currently, Herogen demonstrates an 85% success rate, measured as the ratio between merged and rejected pull requests. The vast majority of tasks require zero or one interaction with the human in the loop, with built-in safeguards enabling intervention when needed. By autonomously merging over 100 code change requests per day, Herogen has effectively freed up an estimated 250,000 hours of manual coding annually. Although currently adopted by only 18% of the company’s developers, Herogen is already responsible for 9% of all code change requests across Delivery Hero. The company plans to continue expanding Herogen's reach, with a goal of having it handle 20% of all code change requests by year's end. Unlike traditional automation, which seeks to replace roles, Herogen is shifting the human-machine interface from programming language to natural language. This makes Herogen a tool for job evolution, not job elimination – it allows engineers to reach their goals faster, accelerating the pace of innovation and enabling Delivery Hero to reclaim human creativity without the constraints of computer code. The company’s strategy focuses on elevating developers from programmers to software architects, mirroring the change in daily tasks that comes with reaching higher seniority as a developer. Breakeven Date Change • Apr 08
Forecast breakeven date moved forward to 2027 The 16 analysts covering Delivery Hero previously expected the company to break even in 2028. New consensus forecast suggests losses will reduce by 70% to 2026. The company is expected to make a profit of €4.31m in 2027. Average annual earnings growth of 95% is required to achieve expected profit on schedule. Reported Earnings • Mar 27
Full year 2025 earnings released: €2.62 loss per share (vs €3.10 loss in FY 2024) Full year 2025 results: €2.62 loss per share (improved from €3.10 loss in FY 2024). Revenue: €14.1b (up 14% from FY 2024). Net loss: €782.9m (loss narrowed 11% from FY 2024). Revenue is forecast to grow 9.5% p.a. on average during the next 3 years, compared to a 6.3% growth forecast for the Hospitality industry in the United Kingdom. Over the last 3 years on average, earnings per share has increased by 52% per year but the company’s share price has fallen by 18% per year, which means it is significantly lagging earnings. Ankündigung • Mar 23
Grab Holdings Limited (NasdaqGS:GRAB) agreed to acquire Foodpanda Taiwan Co., Ltd. from Delivery Hero SE (XTRA:DHER) for $600 million. Grab Holdings Limited (NasdaqGS:GRAB) agreed to acquire Foodpanda Taiwan Co., Ltd. from Delivery Hero SE (XTRA:DHER) for $600 million on March 23, 2026. A cash consideration of $600 million will be paid by Grab Holdings Limited. After the acquisition, Grab will have a presence across 21 cities in Taiwan. This deal combines Grab’s AI-enabled products and deep operational expertise with foodpanda’s extensive coverage across Taiwan.
J.P. Morgan SE acted as financial advisor for Delivery Hero SE (XTRA:DHER).
The transaction is subject to regulatory approvals and customary closing conditions. The transaction is expected to complete in the second half of 2026. Breakeven Date Change • Mar 03
Forecast to breakeven in 2028 The 17 analysts covering Delivery Hero expect the company to break even for the first time. New consensus forecast suggests the company will make a profit of €111.2m in 2028. Average annual earnings growth of 71% is required to achieve expected profit on schedule. Buy Or Sell Opportunity • Mar 03
Now 25% undervalued after recent price drop Over the last 90 days, the stock has fallen 2.5% to €18.16. The fair value is estimated to be €24.22, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 19% over the last 3 years. Earnings per share has grown by 32%. Revenue is forecast to grow by 23% in 2 years. Earnings are forecast to grow by 79% in the next 2 years. Ankündigung • Jan 08
Delivery Hero SE Appoints Johannes Bruder To The Management Board, Effective January 1, 2026 Delivery Hero SE announced that Johannes Bruder, Delivery Hero’s Chief Product Officer, has joined the Group’s Management Board, effective January 1, 2026. As Chief Product Officer, Johannes Bruder has been responsible for the rollout of a unified global technology platform that connects customers, vendors, and riders across all of Delivery Hero’s verticals and markets. By aligning the Group’s product ecosystem and integrating AI-driven automation, he has enabled the company to scale operations efficiently while ensuring a highly localized and personalized experience for users worldwide. Johannes Bruder joined Delivery Hero in 2018 as Chief Product Officer. Before this, he held leadership roles as CPO and COO at Rocket Internet and worked at Google in Europe. Johannes holds a PhD in Economics. Ankündigung • Nov 28
Delivery Hero Shareholders Reportedly to Push for Sale, Divestment Delivery Hero SE (XTRA:DHER) is under pressure from several major shareholders to consider selling the company or divesting parts of its business. The Berlin-based food delivery company has seen its shares drop 53% over the past year, reducing its market value to about €5.2 billion (USD 6.1 billion). Shareholders including Hong Kong’s Aspex Management, Singapore’s Broad Peak Investment Advisers, and Switzerland’s PSquared Asset Management have expressed frustration with Delivery Hero’s financial performance. At least one large US fund has also raised concerns about the company’s portfolio strategy. Some investors are calling for a broader review after previous unsuccessful attempts to sell assets, including its Taiwan unit. Potential buyers for Delivery Hero or its units could include Meituan, Grab, or Uber, sources said. Baedal Minjok, Delivery Hero’s Korean food delivery app, is seen as a particularly attractive asset. Breakeven Date Change • Nov 15
Forecast breakeven date pushed back to 2027 The 16 analysts covering Delivery Hero previously expected the company to break even in 2026. New consensus forecast suggests losses will reduce by 71% per year to 2026. The company is expected to make a profit of €205.5m in 2027. Average annual earnings growth of 96% is required to achieve expected profit on schedule. Breakeven Date Change • Oct 28
Forecast breakeven date moved forward to 2026 The 17 analysts covering Delivery Hero previously expected the company to break even in 2027. New consensus forecast suggests losses will reduce by 44% to 2025. The company is expected to make a profit of €12.9m in 2026. Average annual earnings growth of 103% is required to achieve expected profit on schedule. Ankündigung • Sep 26
Delivery Hero SE Announces Supervisory Board Changes Delivery Hero SE welcomes Warren Jenson to its Supervisory Board as Deputy Chair, effective September 23, 2025. Mr. Jenson, a US citizen, started his career in public accounting in 1981 and has extensive experience in tech, having held C-Level positions at companies including Delta Air Lines Inc., Amazon.com Inc. and Electronic Arts Inc. He most recently served as President and Chief Financial Officer at Nielsen Holding Plc. On the Delivery Hero Supervisory Board, Mr. Jenson is taking on all the duties and responsibilities previously held by Roger Rabalais. Mr. Jenson’s term will run until the end of the Annual General Meeting 2026. Mr. Rabalais stepped down from the board following the announcement that Naspers Group has decided to sell down its stake in Delivery Hero. Breakeven Date Change • Sep 03
Forecast breakeven date pushed back to 2027 The 17 analysts covering Delivery Hero previously expected the company to break even in 2026. New consensus forecast suggests losses will reduce by 79% per year to 2026. The company is expected to make a profit of €333.2m in 2027. Average annual earnings growth of 103% is required to achieve expected profit on schedule. Reported Earnings • Aug 31
First half 2025 earnings released: €1.34 loss per share (vs €2.58 loss in 1H 2024) First half 2025 results: €1.34 loss per share (improved from €2.58 loss in 1H 2024). Revenue: €6.88b (up 19% from 1H 2024). Net loss: €396.3m (loss narrowed 45% from 1H 2024). Revenue is forecast to grow 9.5% p.a. on average during the next 3 years, compared to a 6.2% growth forecast for the Hospitality industry in the United Kingdom. Over the last 3 years on average, earnings per share has increased by 32% per year but the company’s share price has fallen by 18% per year, which means it is significantly lagging earnings. Breakeven Date Change • Aug 29 The 16 analysts covering Delivery Hero previously expected the company to break even in 2026. New consensus forecast suggests losses will reduce by 37% to 2025. The company is expected to make a profit of €11.5m in 2026. Average annual earnings growth of 151% is required to achieve expected profit on schedule.
Breakeven Date Change • Aug 28
Forecast breakeven date pushed back to 2027 The 16 analysts covering Delivery Hero previously expected the company to break even in 2026. New consensus forecast suggests the company will make a profit of €415.4m in 2027. Average annual earnings growth of 94% is required to achieve expected profit on schedule. New Risk • Aug 27
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of British stocks, typically moving 7.1% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. This is currently the only risk that has been identified for the company. Ankündigung • Jun 20
Delivery Hero SE Announces Board Changes Delivery Hero SE welcomed Judith Jungmann to its Supervisory Board at its 2025 Annual General Meeting (AGM) held on June 18, 2025. Judith Jungmann, Chief Human Resources Officer at Beckers Group, was newly elected to the Supervisory Board as a shareholder representative. Her term will run until the conclusion of the AGM that resolves on the discharge for the 2026 financial year. Judith Jungmann’s curriculum vitae is available here. The Company additionally bid farewell to its long-standing Supervisory Board member, Dr. Martin Enderle, who was first appointed as Supervisory Board chair in 2017. Dr. Enderle had announced his resignation at Delivery Hero’s 2024 AGM, subject to a full transition of his duties to the Supervisory Board’s current chair, Kristin Skogen Lund. Ankündigung • May 08
Delivery Hero SE, Annual General Meeting, Jun 18, 2025 Delivery Hero SE, Annual General Meeting, Jun 18, 2025, at 10:00 W. Europe Standard Time. Reported Earnings • Apr 25
Full year 2024 earnings released: €3.10 loss per share (vs €8.57 loss in FY 2023) Full year 2024 results: €3.10 loss per share (improved from €8.57 loss in FY 2023). Revenue: €12.3b (up 24% from FY 2023). Net loss: €882.4m (loss narrowed 62% from FY 2023). Revenue is forecast to grow 10% p.a. on average during the next 3 years, compared to a 6.3% growth forecast for the Hospitality industry in the United Kingdom. Over the last 3 years on average, earnings per share has increased by 2% per year but the company’s share price has fallen by 10% per year, which means it is significantly lagging earnings. Breakeven Date Change • Apr 14
Forecast breakeven date pushed back to 2027 The 19 analysts covering Delivery Hero previously expected the company to break even in 2026. New consensus forecast suggests the company will make a profit of €690.1m in 2027. Average annual earnings growth of 91% is required to achieve expected profit on schedule. Breakeven Date Change • Feb 05
Forecast breakeven date pushed back to 2027 The 19 analysts covering Delivery Hero previously expected the company to break even in 2026. New consensus forecast suggests the company will make a profit of €484.6m in 2027. Average annual earnings growth of 92% is required to achieve expected profit on schedule. Breakeven Date Change • Feb 04
Forecast breakeven date pushed back to 2027 The 19 analysts covering Delivery Hero previously expected the company to break even in 2026. New consensus forecast suggests the company will make a profit of €484.6m in 2027. Average annual earnings growth of 92% is required to achieve expected profit on schedule. Breakeven Date Change • Jan 31
Forecast breakeven date pushed back to 2027 The 19 analysts covering Delivery Hero previously expected the company to break even in 2026. New consensus forecast suggests the company will make a profit of €159.0m in 2027. Average annual earnings growth of 101% is required to achieve expected profit on schedule. Ankündigung • Dec 20
Delivery Hero SE Announces Marie-Anne Popp as Chief Financial Officer from January 2025 Delivery Hero SE announced that Marie-Anne Popp, interim Chief Financial Officer, will become its CFO from January 2025. Popp will be appointed by the Company’s Supervisory Board, and also join Delivery Hero’s Management Board. As interim CFO, Popp led the execution of Delivery Hero’s financial strategy, management practices and reporting, while the Company extended its successful profitability trend, including double-digit revenue growth rates across all business segments, from previous quarters. As CFO, she will continue with these responsibilities. Prior to her role as interim CFO, Popp was the Senior Vice President of Finance at Delivery Hero. During her extensive career, she has held numerous senior leadership roles, including SVP of Corporate Finance & Strategic Programs at Adidas and CFO covering Emerging Markets at General Electric. Popp holds a Master of Business Administration from Harvard Business School and a Master of Economics from ESCP Business School. New Risk • Dec 10
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of British stocks, typically moving 7.3% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Share price has been volatile over the past 3 months (7.3% average weekly change). Shareholders have been diluted in the past year (9.8% increase in shares outstanding). Breakeven Date Change • Nov 08
No longer forecast to breakeven The 18 analysts covering Delivery Hero no longer expect the company to break even during the foreseeable future. The company was expected to make a profit of €41.7m in 2026. New consensus forecast suggests the company will make a loss of €16.3m in 2026. Breakeven Date Change • Oct 08
Forecast to breakeven in 2026 The 17 analysts covering Delivery Hero expect the company to break even for the first time. New consensus forecast suggests the company will make a profit of €65.1m in 2026. Average annual earnings growth of 114% is required to achieve expected profit on schedule. Reported Earnings • Aug 31
First half 2024 earnings released: €2.58 loss per share (vs €2.82 loss in 1H 2023) First half 2024 results: €2.58 loss per share (improved from €2.82 loss in 1H 2023). Revenue: €5.77b (up 19% from 1H 2023). Net loss: €718.2m (loss narrowed 6.7% from 1H 2023). Revenue is forecast to grow 10% p.a. on average during the next 3 years, compared to a 6.2% growth forecast for the Hospitality industry in the United Kingdom. Over the last 3 years on average, earnings per share has fallen by 10% per year but the company’s share price has fallen by 41% per year, which means it is performing significantly worse than earnings. Buy Or Sell Opportunity • Aug 25
Now 21% overvalued Over the last 90 days, the stock has fallen 18% to €24.26. The fair value is estimated to be €20.12, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 38% over the last 3 years. Earnings per share has declined by 10%. Revenue is forecast to grow by 31% in 2 years. Earnings are forecast to grow by 90% in the next 2 years. Ankündigung • May 16
Delivery Hero SE announced that it expects to receive €277.919994 million in funding from SMB Holding Corporation Delivery Hero SE announced a private placement of 8,421,818 new ordinary registered shares at a price of €33 per share for the gross proceeds of €277,919,994 on May 14, 2024. The transaction will include participation from new investor SMB Holding Corporation for 2.98% stake. The New Shares will be subject to a lock-up period of 45 days, subject to customary exceptions. Ankündigung • May 15
Uber Eats agreed to acquire Foodpanda Taiwan Co., Ltd. from Delivery Hero SE (XTRA:DHER) for $950 million. Uber Eats agreed to acquire Foodpanda Taiwan Co., Ltd. from Delivery Hero SE (XTRA:DHER) for $950 million on May 13, 2024. The consideration consists of $950 million in cash. In a related transaction, the companies have also entered into an agreement for Uber to purchase $300 million in newly issued ordinary shares of Delivery Hero. The acquisition of foodpanda Taiwan is subject to regulatory approval and other customary closing conditions and is targeted to close in the first half of 2025. Goldman Sachs & Co. LLC acted as exclusive financial advisor to Uber and UniCredit Bank GmbH acted as financial advisor to Delivery Hero. Reported Earnings • Apr 25
Full year 2023 earnings released: €8.57 loss per share (vs €11.21 loss in FY 2022) Full year 2023 results: €8.57 loss per share (improved from €11.21 loss in FY 2022). Revenue: €9.94b (up 16% from FY 2022). Net loss: €2.30b (loss narrowed 23% from FY 2022). Revenue is forecast to grow 9.7% p.a. on average during the next 3 years, compared to a 7.4% growth forecast for the Hospitality industry in the United Kingdom. Over the last 3 years on average, earnings per share has fallen by 10% per year but the company’s share price has fallen by 39% per year, which means it is performing significantly worse than earnings. Ankündigung • Apr 05
Sachem Head Capital Management Acquires Stake in Delivery Hero On April 4, 2024, Sachem Head Capital Management announced that it has built a 3.6% stake in Delivery Hero SE, seeking a seat on the supervisory board of the Company and potentially to oust CEO Niklas Oestberg. Sachem Head declined to comment, and the Company itself stated that it does not comment on rumours or speculation. New Risk • Apr 05
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of British stocks, typically moving 12% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risk Share price has been highly volatile over the past 3 months (12% average weekly change). Minor Risk Shareholders have been diluted in the past year (2.7% increase in shares outstanding). Ankündigung • Apr 04
The Competition and Consumer Commission of Singapore Raises Potential Worries on Possible Deal Between Grab and Foodpanda A possible deal between Grab Holdings Limited (NasdaqGS:GRAB) and Foodpanda GmbH, which has since fallen through, had raised potential worries about competition in the food delivery market, said Singapore's competition watchdog. The Competition and Consumer Commission of Singapore (CCCS) said on April 1 that it had started a probe on January 10 into the possible acquisition by Grab Holdings of the whole or part of the business of foodpanda operator Delivery Hero SE (XTRA:DHER) in South-east Asia, including Singapore. "At the time, CCCS had reason to suspect that the possible transaction might result in a substantial lessening of competition in the market for the supply of online food ordering and delivery services in Singapore, which is characterised by few large players, high entry barriers and strong network effects," it said in a statement. The investigation centred on whether the possible transaction would infringe section 54 of the Competition Act 2004, which prohibits mergers that have resulted, or may be expected to result, in a substantial lessening of competition in Singapore. CCCS said it had on Feb. 2 issued interim measures directions (IMDs) to Delivery Hero and Grab aimed at ensuring that the market remained open. The measures, due to last until the completion of its investigation, ceased to be in effect from Feb. 23 after CCCS was informed that the possible deal had been abandoned. Under the IMDs, CCCS had directed the parties to, among other things, not take any action that would cause or contribute to the following scenarios: The directions also included one that said Grab should not make any payment to Delivery Hero, and Delivery Hero should not receive any payment from Grab in cash, stock or otherwise in connection with a Singapore merger. The watchdog said in its statement: "The CCCS continues to monitor market practices and will take necessary action to protect the market against mergers or acquisitions which may substantially lessen competition in Singapore". Ankündigung • Mar 04
Delivery Hero, Uber Eats Reportedly Fail to Reach Deal on Foodpanda Biz Delivery Hero SE (XTRA:DHER) has terminated discussions with US sector player Uber Eats over the sale of its Foodpanda Taiwan Co. Ltd. business in Taiwan, German paper WirtschaftsWoche reported on Feb. 29, 2024. Reportedly, the parties were in advanced talks and Delivery Hero was pursuing a price significantly exceeding USD 1 billion (EUR 924 million). The news comes just after the German company said last week it has discontinued negotiations regarding the sales of the Foodpanda business in Singapore, Malaysia, Philippines, Thailand, Cambodia, Myanmar and Laos. Delivery Hero, however, added at the time that it remains open to a transaction and will continue to assess potential strategic options. Ankündigung • Feb 22
Delivery Hero Terminates Talks on Potential Sale of Foodpanda Business in Southeast Asia Delivery Hero SE (XTRA:DHER) opens new tab said on February 21, 2024 that the ongoing talks for the potential sale of its foodpanda business in selected markets in Southeast Asia have been terminated. The parties could not reach final agreement on the deal terms, Delivery Hero said in a statement, without naming the parties. Delivery Hero has been trying to divest its loss-making Southeast Asian business in a wider effort to reach profitability while maintaining growth, as investor concerns regarding the company's cash position grow. The selected Southeast Asian markets include Singapore, Malaysia, Philippines, Thailand, Cambodia, Myanmar and Laos. The Berlin-based company confirmed talks on a partial sale of its Asia business last year, adding that the deal's value was still under negotiation. Earlier this month, The New Straits Times reported that talks with Grab (GRAB.O), opens new tab on foodpanda's sale had collapsed. However, Delivery Hero then said the negotiations for the potential sale were ongoing. Ankündigung • Feb 02
Delivery Hero Says Talks Over Potential Sale of Southeast Asia Business Continue Delivery Hero SE (XTRA:DHER) said negotiations over the potential sale of its foodpanda business in selected Southeast Asian markets are continuing, dismissing rumors that talks had collapsed. The German food-delivery company said in September that the potential sale would be for the business in Singapore, Malaysia, the Philippines, Thailand, Cambodia, Myanmar and Laos, though it didn't disclose who it is in talks with. "There are market rumors that the negotiations for the potential sale have collapsed. We confirm that the negotiations for the potential sale are ongoing, and, thus, the rumors are false," the group said Friday. Delivery Hero shares are down 6% at EUR 20.22 after the announcement. Shares touched a low of EUR 18.62 on February 2, 2024 prior to the announcement. New Risk • Jan 24
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 2.1% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Minor Risks Currently unprofitable and not forecast to become profitable over next 3 years (€25m net loss in 3 years). Share price has been volatile over the past 3 months (7.8% average weekly change). Shareholders have been diluted in the past year (2.1% increase in shares outstanding). New Risk • Jan 17
New minor risk - Profitability The company is currently unprofitable and not forecast to become profitable over the next 3 years. Trailing 12-month net loss: €2.3b Forecast net loss in 3 years: €25m This is considered a minor risk. Companies that are not profitable are more likely to be burning through cash and less likely to be well established. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. Without profits, the company is under pressure to grow significantly while potentially having to reduce costs and possibly needing to take on debt or raise capital to remain afloat. Currently, the following risks have been identified for the company: Minor Risks Currently unprofitable and not forecast to become profitable over next 3 years (€25m net loss in 3 years). Share price has been volatile over the past 3 months (7.9% average weekly change). Breakeven Date Change • Dec 31
Forecast to breakeven in 2026 The 20 analysts covering Delivery Hero expect the company to break even for the first time. New consensus forecast suggests the company will make a profit of €182.0m in 2026. Average annual earnings growth of 90% is required to achieve expected profit on schedule. Breakeven Date Change • Nov 17
No longer forecast to breakeven The 19 analysts covering Delivery Hero no longer expect the company to break even during the foreseeable future. The company was expected to make a profit of €79.0m in 2025. New consensus forecast suggests the company will make a loss of €46.0m in 2025. New Risk • Nov 15
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of British stocks, typically moving 7.5% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Share price has been volatile over the past 3 months (7.5% average weekly change). Shareholders have been diluted in the past year (2.0% increase in shares outstanding). Reported Earnings • Sep 01
First half 2023 earnings released: €3.04 loss per share (vs €5.75 loss in 1H 2022) First half 2023 results: €3.04 loss per share (improved from €5.75 loss in 1H 2022). Revenue: €4.84b (up 27% from 1H 2022). Net loss: €830.1m (loss narrowed 45% from 1H 2022). Revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 7.9% growth forecast for the Hospitality industry in the United Kingdom. Over the last 3 years on average, earnings per share has fallen by 16% per year but the company’s share price has fallen by 27% per year, which means it is performing significantly worse than earnings. Buying Opportunity • Aug 30
Now 24% undervalued after recent price drop Over the last 90 days, the stock is down 8.0%. The fair value is estimated to be €42.72, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 60% over the last 3 years. Earnings per share has declined by 22%. Revenue is forecast to grow by 40% in 2 years. Earnings is forecast to grow by 86% in the next 2 years. New Risk • Aug 18
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of British stocks, typically moving 6.9% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Share price has been volatile over the past 3 months (6.9% average weekly change). Shareholders have been diluted in the past year (3.1% increase in shares outstanding). Ankündigung • Jul 23
Delivery Hero SE (XTRA:DHER) acquired the remaining 37% stake in HungerStation, Ltd. for approximately €270 million. Delivery Hero SE (XTRA:DHER) acquired the remaining 37% stake in HungerStation, Ltd. for approximately €270 million on July 21, 2023. In FY 2022, HungerStation generated revenue of €609m, and achieved a positive EBIT, including group costs, of more than €50m. Delivery Hero SE (XTRA:DHER) completed the acquisition of the remaining 37% stake in HungerStation, Ltd. on July 21, 2023. Buying Opportunity • Jul 17
Now 22% undervalued Over the last 90 days, the stock is up 18%. The fair value is estimated to be €50.60, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 60% over the last 3 years. Earnings per share has declined by 22%. Revenue is forecast to grow by 39% in 2 years. Earnings is forecast to grow by 89% in the next 2 years. Reported Earnings • Apr 30
Full year 2022 earnings released: €11.21 loss per share (vs €4.48 loss in FY 2021) Full year 2022 results: €11.21 loss per share (further deteriorated from €4.48 loss in FY 2021). Revenue: €8.58b (up 47% from FY 2021). Net loss: €2.99b (loss widened 172% from FY 2021). Revenue is forecast to grow 15% p.a. on average during the next 3 years, compared to a 9.3% growth forecast for the Hospitality industry in the United Kingdom. Over the last 3 years on average, earnings per share has fallen by 22% per year and the company’s share price has also fallen by 22% per year. Ankündigung • Jan 29
Delivery Hero SE (XTRA:DHER) completed the acquisition of Food Delivery and Quick Commerce Business in Central America and the Caribbean of Hugo Technologies S.A. de C.V. Delivery Hero SE (XTRA:DHER) entered into an agreement to acquire Food Delivery and Quick Commerce Business in Central America and the Caribbean of Hugo Technologies S.A. de C.V. on October 14, 2021. The transaction is expected to close in Q1 2022 and subject to relevant regulatory approvals. Yosbel A. Ibarra, Carol Barnhart and L. Frank Cordero of Greenberg Traurig Germany, LLP acted as legal advisor to Delivery Hero and Greenberg Traurig, LLP acted as an advisor to Hugo Technologies S.A. de C.V., Bank of America Corporation acted as financial advisor to Hugo Technologies. Alta-Valdés Suarez & Velasco participated as legal advisor.
Delivery Hero SE (XTRA:DHER) completed the acquisition of Food Delivery and Quick Commerce Business in Central America and the Caribbean of Hugo Technologies S.A. de C.V. on January 28, 2023. Breakeven Date Change • Dec 31
Forecast to breakeven in 2025 The 18 analysts covering Delivery Hero expect the company to break even for the first time. New consensus forecast suggests the company will make a profit of €237.5m in 2025. Average annual earnings growth of 67% is required to achieve expected profit on schedule. Reported Earnings • Aug 25
First half 2022 earnings released: €5.64 loss per share (vs €3.84 loss in 1H 2021) First half 2022 results: €5.64 loss per share (down from €3.84 loss in 1H 2021). Revenue: €3.82b (up 55% from 1H 2021). Net loss: €1.47b (loss widened 61% from 1H 2021). Over the next year, revenue is forecast to grow 45%, compared to a 15% growth forecast for the Online Retail industry in the United Kingdom. Over the last 3 years on average, earnings per share has fallen by 24% per year but the company’s share price has increased by 1% per year, which means it is well ahead of earnings. Reported Earnings • May 01
Full year 2021 earnings released: €4.48 loss per share (vs €7.03 loss in FY 2020) Full year 2021 results: €4.48 loss per share (up from €7.03 loss in FY 2020). Revenue: €5.86b (up 137% from FY 2020). Net loss: €1.10b (loss narrowed 22% from FY 2020). Over the next year, revenue is forecast to grow 61%, compared to a 24% growth forecast for the retail industry in the United Kingdom. Over the last 3 years on average, earnings per share has fallen by 43% per year but the company’s share price has only fallen by 7% per year, which means it has not declined as severely as earnings. Reported Earnings • Aug 28
First half 2021 earnings released: €3.84 loss per share (vs €2.24 loss in 1H 2020) The company reported a solid first half result with improved revenues and control over costs, although losses increased. First half 2021 results: Revenue: €2.46b (up 157% from 1H 2020). Net loss: €913.6m (loss widened 104% from 1H 2020). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 99 percentage points per year, which is a significant difference in performance. Reported Earnings • Apr 30
Full year 2020 earnings released: €7.00 loss per share (vs €3.62 loss in FY 2019) The company reported a mediocre full year result with increased losses and weaker control over costs, although revenues improved. Full year 2020 results: Revenue: €2.47b (up 100% from FY 2019). Net loss: €1.40b (loss widened 104% from FY 2019). Over the last 3 years on average, earnings per share has fallen by 55% per year but the company’s share price has increased by 50% per year, which means it is well ahead of earnings. Is New 90 Day High Low • Jan 04
New 90-day high: €137 The company is up 39% from its price of €98.28 on 06 October 2020. The British market is up 10.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Online Retail industry, which is up 4.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €361 per share. Is New 90 Day High Low • Dec 16
New 90-day high: €117 The company is up 28% from its price of €90.89 on 17 September 2020. The British market is up 8.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Online Retail industry, which is down 5.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €350 per share. Is New 90 Day High Low • Nov 05
New 90-day high: €106 The company is up 5.0% from its price of €101 on 07 August 2020. The British market is down 2.0% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Online Retail industry, which is up 13% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €71.12 per share. Is New 90 Day High Low • Oct 14
New 90-day high: €104 The company is up 11% from its price of €93.98 on 16 July 2020. The British market is down 3.0% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Online Retail industry, which is up 21% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €130 per share. 
