Even after the sale of the German company, Delivery Hero wants to keep its office in Berlin.
On Wednesday, the Berlin delivery service Delivery Hero published its provisional figures for the year 2018 – and the sale of the German company to its competitor Takeaway also plays an important role. The two companies announced the deal for Christmas: the Lieferando mother wants to take over Delivery Hero's home market for a total of 930 million euros, for which Delivery Hero receives 18 percent takeaway meals.
Although the contract has already been signed, the value of the deal has changed in the meantime. The delivery service will only contain 15.5% of its competitors in the future, but the transaction value is € 1.060 billion, according to the statement. The increased purchase price stems from the fact that the share price of Takeaway has increased enormously: since the announcement of the acquisition, the share of 44.90 euro increased by about 27 percent. Delivery Hero benefits from this because Berliners are also paid in shares.
In addition, the Dutch company announced in mid-January by CEO Jitse Groen to raise 680 million euros in the form of new shares and convertible bonds. This diluted the planned participation of Delivery Hero by more than two percentage points. This means that the lower share is worth more.
More turnover than expected
The business figures of Delivery Hero developed positively last year. Instead of the planned 785 million euros, CEO Niklas Östberg started 792 million euros – the year before, 544 million euros. On the home market, the Berlin airport generated 105 million euros. The provisional EBITDA margin at Group level in 2018 was minus 18 percent. For example, the margin deteriorated by one percentage point compared to 2017. Management did not want to say how high the losses were in the past year. Also on Foodora, Östberg did not comment on Wednesday morning in a press conference.
In 2019, Delivery Hero wants to convert between 1,080 and 1,150 billion euros. The loss is expected to be in the period of up to 320 million euros. With the Europe segment, the delivery service is planning to break even in the second half of the year. The company is already profitable on the Asian market. Delivery Hero 2019 focuses on income before interest, taxes, depreciation and amortization of € 70 million.
Takeout wants to stop Foodora in Germany
The Lieferando-Mutter has bought the German company Delivery Hero. From now on, only couriers with orange backpacks should deliver food.