Magically, Q2 was very successful for the major food delivery platforms and Delivery Hero is no exception.
GMV (gross merchandise value) across the group exceeded expectations growing by 8% instead of the expected 4% to 11B EUR.
DMart (dark stores vertical) became break-even already in June ahead of the planned H2.
Positive adjusted EBITDA also came ahead of the budget by more than 40M EUR.
In addition, the company updated its revenue guidance for the year and if previously the expected growth was 10%, it now stands at 15%.
The earnings call itself was very financial, and the strategy talks were mainly around money and future reinvestments into the business. Sadly not much was said about the product strategy with the exception of the company’s super-app ambitions. (By super-app people usually mean an app that does everything).
So Delivery Hero CEO Niklas Östberg said that the company plans to keep its focus on all things delivery (not just food but also groceries, pharmaceutical, pet products etc), and in the foreseeable future it will not become a super-app that would include segments such as ride-hailing. He gave examples of DoorDash succeeding in the US with the same strategy, and his own success competing with Uber in a number of regions