Skip to content Skip to Search
Skip navigation

Delivery Hero reports Mena revenue surge

By Matt Smith
Talabat delivery drivers at a rest station. The company is owned by German conglomerate Delivery Hero Wam
Talabat delivery drivers at a rest station. The company is owned by German conglomerate Delivery Hero
  • Food delivery chain’s revenue rose 25% in Q2
  • Germany company owns Talabat and InstaShop

Germany’s Delivery Hero has reported a rise of almost 25 percent in second-quarter revenue from its operations in the Middle East and North Africa (Mena) region.

The company said strong customer demand resulted in second-quarter Mena revenue rising 24.4 percent to €641 million ($706 million), up from €515 million a year earlier.

The Berlin-based conglomerate claims to be the number one food delivery company in Mena and owns several food delivery businesses in the region.

These include Dubai-based Talabat, which delivers across the GCC, Egypt, Jordan and Iraq, plus Saudi Arabia’s Hunger Station, Turkey’s Yemeksepeti and pan-regional InstaShop.

In Mena, the company’s broader gross merchandise value (GMV) – the total value paid by customers including VAT, delivery fees, other fees and subsidies – rose 15 percent to €2.3 billion in the three months to June 30 compared to the same period a year ago.

Delivery Hero attributed Mena’s increasing revenue and GMV to strong customer demand, an improving competitive position in Saudi Arabia and better customer service in Turkey.

As per accounting rules to reflect hyperinflation in Turkey and Lebanon, Delivery Hero reduced its second-quarter Mena GMV and revenue by €155.2 million and €19.6 million respectively.

Mena is also Delivery Hero’s most profitable geographical division, achieving a gross profit margin as a percentage of GMV of around 10 percent.

Latest articles

Bank customers in Dubai. Deposits by UAE residents eached AED2.4 trillion ($664 billion) as of March 31

UAE bank deposits soar as higher rates attract savers

Deposits at banks in the UAE have surged as account holders take advantage of higher interest rates to earn bigger returns on their savings, data from the country’s central bank shows. Resident deposits totalled AED2.4 trillion ($664 billion) as of March 31, up 16 percent versus 12 months earlier. Non-resident deposits – those held by […]

Saudi foreign debt flags

Tax on foreigners may be axed to boost Saudi bond market

The tax on foreign investment in Saudi corporate bonds may be scrapped in an effort to boost the market. Saudi Arabia’s Capital Markets Authority has issued a report describing the 5 percent withholding tax on interest payments to corporate bondholders as “unattractive and discouraging for foreign institutional investors”. It called for “easing tax requirements for […]

Nvidia president and CEO Jensen Huang at a media briefing in Taipei

Nvidia stocks are all the rage in UAE as trading surges 50%

Retail investors in the UAE have significantly ramped up their holdings in Nvidia. Trading activity in the emirates for the semiconductor leader’s stock jumped 50 percent in the first quarter of the year, according to data from a global trading and investment platform. Once known primarily for graphics processing units used in gaming, cryptocurrency mining […]

The total value of Qatari mortgage transactions has risen by 110 percent in two years. New regulations came into force in 2023

Qatar’s mortgage market buoyed by law reforms

Qatar’s mortgage market has been given a lift by a package of regulatory reforms, industry experts told AGBI after transactions rose sharply despite high interest rates. In the first quarter of 2024, the value of Qatari mortgage transactions was nearly 90 percent higher than in the previous three months, according to ValuStrat research. It was […]