Delivery Hero Se Unsp/Adr

Q2 2025 Trading Update. Today's presentation will be followed by a Q&A session. For those of you who have joined the Zoom webinar, you can use the raise hand function at the bottom of your Zoom screen at any time to join the queue to ask a question, and you will be called upon during the Q&A session. If you have dialed in, please press star nine to enter the queue. If you want to withdraw your question, please lower your hand using the raise hand function in the Zoom app or via telephone press star nine. I will now hand over to Christoph Bass, Head of Investor Relations at Delivery Hero to begin the presentation.

Hello and welcome everyone. Thank you very much for joining our Q2 2025 earnings call. Joining me on this call today are Niklas Oestberg, CEO and Marianne Popp, CFO at Delivery Hero. and together they will present the key highlights of our Q2 2025 results and the performance of the first half of 2025. Following the presentation, we will be delighted to address any questions you might have. Now over to you, Niklas.

Thanks, Christoph, and hey, everyone, and thank you for tuning in. We are starting with updates on our global technology platform as it's our number one strength and huge competitive advantage. It's a unified global tech platform across all verticals. What's unique is the deep localization of the customer experience, allowing us to adapt to local customer preferences and to fully leverage our local leading heritage brands. much better and faster than our competitors. In Q2, our platform reached an important milestone. Global is now end-to-end integrated and the migration is completed. This also means we have reached full integration across all our brands and markets, except for Korea, where the integration is on track, but not yet completed. The integration of Glovo provides an interesting case study that demonstrates the power of our platform. Comparing performance across different KPIs before and after the integration, we see that our platform unlocks significant operational improvements ranging from customer experience. Example here is 6.7% conversion rate improvement and 9.8% less late orders. To delivery efficiencies, the sample here, 9.5% reduction in cost per order, a very key metric, and service improvement with 10.7% less or more self-service. It also gives more ad revenue as another example, which was then up 29% with this migration. We're also excited to provide a sneak peek into VUVA integration, which is currently still ongoing, as previously mentioned. One of our largest components is the global logistic stack, which is now live in the first regions in Korea. And we see that we can significantly increase the number of deliveries per hour, per rider per hour. So that's an 18% increase in utilization rate, which is a huge implication on the cost side. We have done this while still delivering slightly faster, so 2.4% lower delivery times than before the integration. This points to significant delivery cost savings potential for the future. In addition, we are approaching another milestone, and we go to the next slide. And here you can see that soon half of our GMB will come from customers who are using multiverticals on our platform. When we doubled down on becoming a multivertical platform six, seven years ago, it was nothing but clear that this would become a huge success. Today, we can truly say that we have transformed from a food delivery company into a multi-vertical platform with stronger engagement and higher spend. The driver is a powerful frequency flywheel. Each new use case not only adds incremental usage, but also amplifies activity in existing verticals. Multi-vertical customers now spend 5.2 times more than single vertical customers, a clear proof point of our platform's impact. We will keep scaling this opportunity by expanding vertical coverage and offering great selection, affordability, and experience across all verticals. This not only opens up a huge TAM, but it also makes us less vulnerable to competition in one or another vertical. Today, we believe we are less than 1% of the total TAM opportunity. Let me now hand over to Marianne, who will guide us through the financial highlights.