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Delivery Hero reports Mena revenue surge

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.

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