News
Delivery Hero · Earnings · Guidance · Profitability
Delivery Hero SE reported accelerated growth and expanded profitability in Q2 and H1 2025, achieving its first-ever positive Group Operating Result of €5 million in H1, while updating its full-year guidance for 2025.
In Q2 2025, Group Gross Merchandise Value (GMV) increased 11% year-over-year on a like-for-like basis to €12.2 billion, and Total Segment Revenue grew 27% to €3.7 billion. For H1 2025, GMV grew 11% to €24.6 billion, and Total Segment Revenue rose 25% to €7.2 billion.
Adjusted EBITDA surged 71% year-over-year to €411 million in H1, with the margin expanding 70 basis points to 1.7% of GMV. Free Cash Flow improved by €96 million year-over-year to -€8 million.
The company updated its FY 2025 guidance, now expecting GMV growth at the upper end of 8-10% and Total Segment Revenue growth of 22-24%. However, Delivery Hero revised Adjusted EBITDA to €900-940 million and Free Cash Flow to over €120 million, attributing these adjustments to approximately €110 million and €80 million, respectively, in foreign exchange headwinds.
CEO Niklas Östberg highlighted strong performance in Asia, while CFO Marie-Anne Popp emphasized margin expansion and Free Cash Flow improvement.
Delivery Hero Accelerates Growth, Boosts Profitability, Updates Guidance(current)
