Delivery Hero terminates negotiations of a potential sale of its foodpanda business in selected markets in Southeast Asia

Delivery Hero terminates negotiations of a potential sale of its foodpanda business in selected markets in Southeast Asia

Berlin, 21 February 2024 - Delivery Hero SE (“Delivery Hero”, the “Company” or the “Group”), the world’s leading local delivery platform, today announced that it has terminated discussions with the main negotiating counterpart regarding a potential sale of its foodpanda business in selected Southeast Asian markets covering Singapore, Malaysia, the Philippines, Thailand, Cambodia, Myanmar and Laos.

When reconfirming ongoing discussions on February 2, 2024, Delivery Hero remained optimistic that it would reach agreeable terms for signing with the main negotiating counterpart. At that time, the Company believed it had reached an alignment with the potential buyer on the fundamental terms regarding the sale of the business. However, Delivery Hero took the decision to withdraw from negotiations as this is no longer the case.

Niklas Östberg, CEO and Co-Founder of Delivery Hero, said: “The strength of our APAC business has become evident during the last quarters as the region reached an inflection point in 2023. We believe the region remains strongly positioned to drive profitable growth at scale. The decision to terminate negotiations after months of discussions was taken after careful consideration.”

As always, the Company will remain open to M&A and will continue to assess potential strategic alternatives. However, Delivery Hero will only proceed with negotiations where it can create value for shareholders with high certainty of closing. Delivery Hero continues to exercise a disciplined investment policy aimed at maximizing profitable growth and Free Cash Flow generation in its operations.

Delivery Hero’s FY 2024 guidance, provided with its Q4 2023 Trading Update, excludes any M&A activities. Consequently, this announcement does not have any impact on the Company’s guidance it set out for 2024 or its Free Cash Flow expectations for the medium term.

ABOUT DELIVERY HERO

Delivery Hero is the world’s leading local delivery platform, operating its service in over 70 countries across Asia, Europe, Latin America, the Middle East and Africa. The Company started as a food delivery service in 2011 and today runs its own delivery platform on four continents. Additionally, Delivery Hero is pioneering quick commerce, the next generation of e-commerce, aiming to bring groceries and household goods to customers in under one hour and often in 20 to 30 minutes. Headquartered in Berlin, Germany, Delivery Hero has been listed on the Frankfurt Stock Exchange since 2017 and is part of the MDAX stock market index. For more information, please visit www.deliveryhero.com

MEDIA CONTACT
Corporate Communications
press@deliveryhero.com

INVESTOR RELATIONS CONTACT
Christoph Bast
Head of Investor Relations
ir@deliveryhero.com

DISCLAIMER

This release may contain forward looking statements, 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 forward-looking terminology, including the terms "believes," "estimates," "anticipates," "expects," "intends," "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. Forward-looking statements are based on the current views, expectations and assumptions of the management of Delivery Hero SE and involve significant known and unknown risks and uncertainties that could cause actual results, performance or events to differ materially from those expressed or implied in such statements. 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. Any forward-looking statements included herein only speak as at the date of this release. We undertake no obligation, and do not expect to publicly update, or publicly revise, any of the information, forward-looking statements or the conclusions contained herein or to reflect new events or circumstances or to correct any inaccuracies which may become apparent subsequent to the date hereof, whether as a result of new information, future events or otherwise. We accept no liability whatsoever in respect of the achievement of such forward-looking statements and assumptions.