Delivery Hero Says Cash Flow Generation Will Be Enough To Settle Debt Maturities

By Reuters
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Delivery Hero Says Cash Flow Generation Will Be Enough To Settle Debt Maturities

Germany's Delivery Hero has said it expects its organic cash flow generation to be more than sufficient to settle convertible bond and debt maturities in the coming years.

The company is not dependent on any external refinancing transaction or potential proceeds from minority stake monetisation or business disposals, Delivery Hero said in an earnings presentation, as it also confirmed the preliminary annual core profit figure published last week.

Investor Concerns

Delivery Hero's shares have come under pressure in recent months as the group faces growing investor concerns about its ability to generate cash and repay outstanding debt organically while still delivering on both profitability and growth.

'We have ample access to capital if beneficial and when a compelling refinancing opportunity arises to further strengthen our long-term capital structure,' the company said.

The food delivery firm's shares were up 2.9% in early Frankfurt trade.


Adjusted earnings before interest, taxes, depreciation and amortisation (EBITDA) came in at €253.3 million for the year, compared to a loss of €623.6 million in 2022.

Adjusted EBITDA is based on the reported currency and includes hyperinflationary accounting.

'A Landmark Year'

“2023 was a landmark year for Delivery Hero as we saw our commitment to a rational growth strategy pay off," commented Niklas Östberg, chief executive and co-founder of Delivery Hero.

"We have proven that we can significantly improve profits and cash flows while building on our category leadership. Thanks to the team for all of the great progress we have made towards our goals.”


Delivery Hero has operations in 70 countries across Asia, Europe, Latin America, the Middle East and Africa.

Additional reporting by ESM

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