Delivery Hero Shows Strong Q3 Performance and Updates 2024 Projections

Delivery Hero, a leading local delivery platform, reported robust Q3 2024 results, with a notable acceleration in Gross Merchandise Value (GMV) growth, which reached 9% year-on-year (YoY) outside Asia. The company's total segment revenue saw a 24% increase, driven by improved monetization strategies. This growth was mainly fueled by increased order volumes and the expansion of their AdTech and Dmarts businesses.

The Middle East, North Africa (MENA), and European segments continued to demonstrate significant growth, with MENA experiencing a 30% GMV increase YoY. The European segment reached a break-even adjusted EBITDA, highlighting operational efficiencies.

Looking ahead, Delivery Hero revised their 2024 guidance to the upper end of the initial GMV and revenue growth predictions, with a free cash flow expectation raised to €50-100 million, ensuring the company's stable financial position into the next fiscal year.