DLVHF Q1 2025 Earnings
AI Summary
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Call Details
- Call Title: Delivery Hero Ag Na Q1 2025 Earnings Call
- Date: April 24, 2025 at 12:00 PM UTC
- Management Team:
- Christoph Bast (Head of Investor Relations)
- Niklas Östberg (CEO)
- Marie-Anne Popp (CFO)
Call Summary
Financial Performance
- Group GMV grew 8% in constant currency in Q1 2025 and 9% on a like-for-like basis.
- Outside of Korea, GMV grew 22% in constant currency on a like-for-like basis.
- Total segment revenue increased 22% year-over-year for the quarter.
- Adjusted EBITDA for full year 2024 was €693M, representing an increase of approximately €440M versus 2023.
- Free cash flow for 2024 turned positive at nearly €100M, an increase of €465M year-over-year.
- Net debt was reduced to €1.9B at December 2024, lowering leverage to 2.7x net debt to adjusted EBITDA.
- Pro forma cash and cash equivalents were €2.9B at the end of December 2024 following the Talabat IPO and convertible bond tender.
- Integrated verticals delivered GMV growth of 31% and revenue growth of 26% in Q1 2025.
Guidance
- Group GMV growth guidance for 2025 remains at 8% to 10% in constant currency.
- Revenue growth guidance for 2025 remains at 17% to 19% year-over-year in constant currency.
- Adjusted EBITDA guidance for 2025 is maintained at €975M to €1.025B.
- Free cash flow is expected to be more than €200M for 2025, excluding extraordinary M&A break fees and large legal dispute flows.
- Longer-term targets through 2030 include an adjusted EBITDA margin of 5% to 8% and free cash flow of 3% to 6% of GMV.
- 2025 guidance incorporates provisions related to the Glovo Italy announcement that were booked in Q4 2024.
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