Delivery Hero Response on European Commission Investigation

Delivery Hero Response on European Commission Investigation   

Berlin, 23 July 2024 – Today, the European Commission has announced the opening of a formal investigation into Delivery Hero SE (“Delivery Hero”) and Glovo. The investigation relates to alleged anticompetitive practices regarding allocation of geographic markets, sharing of commercially sensitive information, and no-poach agreements, prior to Delivery Hero taking full ownership of Glovo in 2022.

The opening of an investigation does not mean that the European Commission has concluded on whether an actual infringement of competition law may have occurred, nor does it prejudge the outcome. Delivery Hero is fully cooperating with the European Commission and is committed to meeting all compliance and regulatory requirements.

As announced on 7 July, Delivery Hero intends to increase its provision related to this matter to more than EUR 400 million (full announcement here). Delivery Hero has done so as part of its commitment to good corporate governance. Delivery Hero remains fully on track to meet its FY 2024 guidance, with substantial further increase in profitability in 2025 and beyond. 

About Delivery Hero

Delivery Hero is the world's leading local delivery platform, operating its service in around 70 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 www.deliveryhero.com.

Media contact

Corporate & Financial Communications

press@deliveryhero.com

Investor Relations contact

Christoph Bast

Head of Investor Relations

ir@deliveryhero.com

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.