Delivery Hero Se Unsp/Adr

Ladies and gentlemen, welcome to the Delivery Hero Q3 2024 Trading Update conference call and live webcast. I'm Vicky, the course call operator. I would like to remind you that all participants will be in listen-only mode and the conference is being recorded. The presentation will be followed by a Q&A session. You can register for questions at any time by pressing star and 1 on your telephone. For operator assistance, please press star and 0 The conference must not be recorded for publication or broadcast. At this time, it's my pleasure to hand over to Christoph Bast, Head of Investor Relations. Please go ahead, sir.

Hello and welcome everyone. Thank you very much for joining our Q3 2024 earnings call. We would like to remind you that this call is being webcast and the replay will be available later today on our website. Joining me today are Niklas Oestberg, our CEO and Marianne Popp, Interim CFO of DeliverHero, who will walk us through the key highlights of our Q3 performance. Afterwards, we will be happy to answer your questions. And now let me hand it over to you, Niklas.

thanks christoph and welcome everyone thanks for listening in let's jump straight into the highlights we continued on a strong momentum and accelerated our gmv from seven percent in q2 to nine percent the q3 in constant currency and excluding the effects of hyperinflation accounting With the exception of Asia, all segments reported strong double-digit growth rates, bringing the GMV growth outside of Asia segment to 25% year-on-year. In regards to Asia, 2024 is a transition year, and we soon have all the fundamental pieces in place to grow sustainably. More on this later. Total segment revenues continue to significantly outgrow GMB with a 24% year-on-year increase driven by multiple factors, including higher commission from own delivery, fast-growing DMART business, growing ad-tech revenues, as well as service and subscription fees. This also had a positive impact on our profitability and led to a further increase of our adjusted EBITDA, both in a year on year comparison, as well as quarter over quarter. Europe was a big highlight in Q3. We are more than satisfied with both growth and the profitability development over there. The segment recorded positive EBITDA or adjusted EBITDA in Q3 with further earnings growth ahead. Lastly, our cash position remained at high levels of 1.65 billion euros, allowing us ongoing financial flexibility to continue to pursue our operational goals and countering potential comparative moves. For Q4, we expect to generate significant positive free cash flow. Now on to the next slide. So as mentioned, healthy GMV growth. This was mainly driven by growing order volumes. And I think not much more to add on this slide. So let's move to the next slide. Here you can see strong revenue growth happening across the group. especially happy with Nina with 32% in constant currency, Europe with 27% and integrated vertical segment with 26% year over year. Asia was slightly impacted by the fade out of our free delivery for non-subscribers in South Korea and America segment generated 20% revenue growth despite the temper macroeconomic challenges in Argentina. Now, let me hand over to Marianne for more details.