Delivery Hero Raises Full-Year 2026 Guidance As Everyday App Strategy Drives Further Acceleration In Growth

• Q2 Group GMV grew 11.3% YoY (LfL¹) to €13.2 billion, accelerating from 8.8% in Q1.
• Q2 Revenue² up 17.7% YoY (LfL¹), to €4.0 billion.
• H1 adj. EBITDA ahead of expectations at €427 million, up 3.9% YoY.
• H1 Free Cash Flow³ of €348 million (H1 2025: €-8 million).
• FY guidance raised across all four metrics.
• Voluntary takeover offer from Uber announced at €41.50 per share.

• In MENA, GMV grew 14.9% YoY (LfL¹). Saudi Arabia delivered an outstanding quarter, with accelerating GMV growth and significant margin improvement validating strategic investments. Subscription adoption in Saudi Arabia is the highest within the Group, driving 63% of local GMV. talabat carried its strong Q1 momentum into the second quarter, driven by all business pillars.
  
• In Asia, GMV growth accelerated for the third consecutive quarter to 6.4% YoY (LfL¹). Quick Commerce continues to scale rapidly, delivering 39% YoY constant-currency GMV growth in South Korea in Q2, driven by increasing basket sizes and higher order frequency.
  
• In Americas, GMV growth accelerated sharply to 29.1% YoY (LfL¹) in Q2 on strong subscription adoption and an expansion of the multi-vertical product offering. Subscribers now account for 40% of GMV in the region, while Quick Commerce GMV grew 57% YoY.
  
• In Europe, GMV growth accelerated to 8.4% YoY (LfL¹) in Q2 driven by Glovo's strong operational performance, with further momentum anticipated in H2. Quick Commerce grew 19% YoY in Q2, significantly outpacing overall topline performance. The segment's high-margin AdTech business delivered 32% YoY growth.
  
• Integrated Verticals: GMV increased 32.3% YoY (LfL¹) powered by robust, broad-based operational execution and exceptional performance in MENA, Americas and Asia. AdTech revenue grew rapidly, turning into a significant driver for revenue growth with further scaling potential. Investment in the segment continues, supported by a material market opportunity and strong same-store returns for Dmarts, with orders per Dmart up 28% YoY.

Delivery Hero – Key Performance Indicators Q2 and H1 2026⁶

¹ Like-for-like growth reflects the performance of the business on a comparable basis, excluding changes in the consolidation scope (acquisitions, disposals, country exits) as applicable, and is presented in constant currency, excluding the effects of hyperinflation accounting.

² Effective January 1, 2026, the key financial performance indicator Total Segment Revenue has been fully harmonised with "Revenue" as presented under IFRS.

³ Free Cash Flow before extraordinary items excludes extraordinary cash outflows related to certain legal matters, primarily antitrust and rider-related matters, and extraordinary cash inflows from M&A break-up fees.

⁴ FY 2026 GMV and Revenue guidance in constant currency, excluding hyperinflation accounting and on a like-for-like basis.

⁵ FY 2026 adj. EBITDA and Free Cash Flow guidance is based on FX rates as of July 2026. The Free Cash Flow guidance for the financial year 2026 excludes extraordinary cash outflows related to certain legal matters, primarily antitrust and rider-related matters.

⁶ For Group, MENA, Americas and Integrated Verticals, revenues, adj. EBITDA and Gross Merchandise Value (GMV) as well as the respective growth rates are impacted by the operations in Argentina and/or Türkiye qualifying as hyperinflationary economies according to IAS 29. Consequently, growth rates for Argentina and Türkiye are calculated exclusively in reported currency (Euro). RC = Reported Currency / CC = Constant Currency.

⁷ The difference between Revenue and the sum of segment revenues is mainly due to intersegment consolidation adjustments for services charged by the Platform businesses to the Integrated Verticals businesses.

ABOUT DELIVERY HERO

Delivery Hero is the world's leading local delivery platform, operating its service in around 65 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

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