Delivery Hero increases provisions for legal risks following delivery riders reclassification decision in Italy and updates preliminary adjusted EBITDA for FY 2024

Berlin, 11 April 2025 – Delivery Hero SE (“Delivery Hero” or the “Company”, ISIN: DE000A2E4K43, Frankfurt Stock Exchange: DHER) increases its provisions for legal risks as of December 31, 2024 following the receipt of a first instance Italian court decision relating to the legal status of delivery riders by Delivery Hero’s Italian subsidiary Glovo (“Glovo”) operating food delivery business under the Glovo brand in Italy.

Today, the Management Board has resolved to increase the provisions by EUR 183 million non-cash expenses to cover social security contributions, interests and fines that Italian authorities may claim for the period from 2016 until the end of 2024 for Glovo in Italy. This results in a provision for legal risks related to this reclassification of Glovo’s rider fleet in Italy in the amount of EUR 253 million to be reflected in the Company’s 2024 consolidated financial statements.

The increased expenses attributable to FY 2024 are reflected in the adjusted EBITDA in FY 2024. The increased expenses attributable to prior periods are normalized as part of the management adjustments.

The previously disclosed adjusted EBITDA of around EUR 750 million for FY 2024 is now expected to amount to EUR 693 million. Delivery Hero confirms all other preliminary results for the FY 2024.

Delivery Hero also confirms the previously provided guidance for FY 2025 remains unchanged.

Note: Regarding the definition of the alternative performance measure adjusted EBITDA, as well as related information, the Company refers to the corresponding definition included in its 2023 Annual Report in chapter “A. Group Profile” of the Combined Management Report, which has been published on the Company’s Investor Relations website.

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Disclaimer

This release may contain forward looking statements, estimates, opinions and projections with respect to anticipated future performance of Delivery Hero SE ("forward-looking statements"). These forward-looking statements can be identified by the use of forward-looking terminology, including the terms "believes," "estimates," "anticipates," "expects," "intends," "may," "will" or "should" or, in each case, their negative, or other variations or comparable terminology. These forward-looking statements include all matters that are not historical facts. Forward-looking statements are based on the current views, expectations and assumptions of the management of Delivery Hero SE and involve significant known and unknown risks and uncertainties that could cause actual results, performance or events to differ materially from those expressed or implied in such statements. Forward-looking statements should not be read as guarantees of future performance or results and will not necessarily be accurate indications of whether or not such results will be achieved. Any forward-looking statements included herein only speak as at the date of this release. We undertake no obligation, and do not expect to publicly update, or publicly revise, any of the information, forward-looking statements or the conclusions contained herein or to reflect new events or circumstances or to correct any inaccuracies which may become apparent subsequent to the date hereof, whether as a result of new information, future events or otherwise. We accept no liability whatsoever in respect of the achievement of such forward-looking statements and assumptions.

Responsible Person for this Publication:
Christoph Bast
Head of Investor Relations