DGAP-News: Delivery Hero acquires InstaShop - a leading online grocery marketplace in MENA - and publishes H1 2020 report
Through this acquisition, Delivery Hero continues to complement its position in grocery delivery and emphasizes the importance of q-commerce.
DGAP-News: Delivery Hero SE / Key word(s): Half Year Results/Acquisition Delivery Hero acquires InstaShop - a leading online grocery marketplace in MENA - and publishes H1 2020 report 27.08.2020 / 07:30 The issuer is solely responsible for the content of this announcement.
Berlin, 27 August 2020 - Delivery Hero SE ("Delivery Hero"), today released its half year report for 2020 and announced that it has acquired InstaShop, a leading online grocery marketplace in the Middle East and North Africa. Through this acquisition, Delivery Hero continues to complement its position in grocery delivery and emphasizes the importance of q-commerce. InstaShop - one of the leading online grocery marketplaces in MENA Niklas Östberg, CEO and Co-Founder of Delivery Hero, said: "I'm delighted to welcome InstaShop to the Delivery Hero family. The InstaShop team embodies our values and brings a strong vision and capabilities. As a leading player in the grocery segment, InstaShop has built a service customers love, and their expertise is a great addition to our quick commerce expansion. Together, we will continue to invest to drive the future of delivery by pushing the standards for speed and convenience." InstaShop was launched in June 2015 and is based in Dubai. The company generates approximately USD 300 million GMV on a Q2 2020 annualized basis, up c. 330% year-on-year, and a positive EBITDA margin. With Delivery Hero's support, the plan is to launch new markets and invest into further growth. InstaShop's business model is marketplace-based: it connects customers with vendors and facilitates the purchase, while the shops take care of the logistics. As a leading grocery delivery marketplace in the Middle East and North Africa, InstaShop offers scheduled as well as on-demand deliveries in 45 minutes on average. Partnering with approximately 1,500 vendors, the company operates in five countries: the United Arab Emirates, Qatar, Bahrain, Egypt and Lebanon. John Tsioris, CEO and Co-Founder of InstaShop, said: "The partnership with Delivery Hero is a great opportunity for us to continue to grow our business and put the group's expertise to use. I really enjoyed working with Delivery Hero on this deal and am thrilled to continue to further expand the reach and quality of our service at InstaShop. Delivery Hero is a network driven by ambitious founders and entrepreneurs just like ourselves, and we are proud to become part of this family." H1 report - revenues increased significantly by 93.7% After the easing of lockdowns and curfews in many countries during the second quarter, the company's business activities resumed their growth trajectory. In terms of profitability, our gross profit was broadly stable year-on-year (EUR 167.2 million in H1 2020 compared to EUR 168.3 million) despite lost revenues and their corresponding profit contribution from the MENA segment due to COVID-19-related restrictions. A further increase of the company's delivery share in Asia and several measures to support restaurants during COVID-19 (e.g. waiving of onboarding fees and free delivery) added to this. The adjusted EBITDA margin in H1 2020 improved in each segment compared to the same period in 2019. Based on the strong operative performance in the first six months of the current business year, Delivery Hero expects continuous growth also in the second half of 2020. Together with the publication of the trading update in July, the guidance on Total Segment Revenues has therefore been raised to between EUR 2.6 billion and EUR 2.8 billion for the full year 2020, up from EUR 2.4 billion to EUR 2.6 billion before. The adjusted EBITDA group margin for the full year 2020 continues to be expected at between -14% and -18%, while the range for additional investments had been reduced to up to EUR 150 million, down from up to EUR 200 million as per previous guidance. ABOUT DELIVERY HERO ABOUT INSTASHOP
27.08.2020 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. |
Language: | English |
Company: | Delivery Hero SE |
Oranienburger Straße 70 | |
10117 Berlin | |
Germany | |
Fax: | +49 (0)30 5444 59 024 |
E-mail: | [email protected] |
Internet: | www.deliveryhero.com |
ISIN: | DE000A2E4K43 |
WKN: | A2E4K4 |
Indices: | DAX |
Listed: | Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange; London, OTC QB, OTC QX, SIX, Vienna Stock Exchange |
EQS News ID: | 1123825 |
End of News | DGAP News Service |
|
1123825 27.08.2020